ADRs End Mostly Lower, Atlas Copco and BMW Trade Actively
October 19 2022 - 5:56PM
Dow Jones News
By Kathryn Hardison
International stocks trading in New York closed mostly lower
Wednesday.
The S&P/BNY Mellon index of American depositary receipts
fell 1.2% to 121.11. The European index declined 0.7% to 116.58,
the Asian index dropped 2.5% to 136.93, the Latin American index
rose 0.4% to 186.53 and the emerging markets index decreased 2.3%
to 239.81.
Atlas Copco AB and Bayerische Motoren Werke AG were among the
companies with ADRs that traded actively.
ADRs of Atlas Copco fell 4.2% after the Swedish industrial tool
maker said it expects near-term business activity to worsen on
weaker demand. It also logged lower order intake in the recent
quarter for vacuum equipment due to lower demand from the
semiconductor industry.
ADRs of Bayerische Motoren Werke, or BMW, fell 0.9% after the
German luxury car maker said it will invest $1.7 billion in its
U.S. operations as it prepares to produce battery-electric
vehicles.
ADRs of Nestle SA fell 2.3% after it said it has agreed to
acquire the Seattle's Best Coffee brand from Starbucks Corp. on
undisclosed terms. The company also reported an increase in sales
for the first nine months of the year, driven by higher selling
prices for its products.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
October 19, 2022 17:41 ET (21:41 GMT)
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