ADRs Fall Wednesday, Vale and GW Pharmaceuticals Trade Actively
November 06 2019 - 7:17PM
Dow Jones News
By Allison Prang
International stocks trading in New York closed mostly lower
Wednesday.
Vale S.A. (VALE) and GW Pharmaceuticals PLC (GWPH) were among
the companies with ADRs that traded actively.
The S&P/BNY Mellon index of American depositary receipts
fell 0.1% to 143.75. The European index decreased less than 0.1% to
132.03, the Asian index improved 0.1% to 172.89, the Latin American
index fell 1.7% to 231.87 and the emerging markets index decreased
0.2% to 312.95.
Vale's ADRs fell 1.7% to $12.17. Brazil's National Mining Agency
said in a report released this week the company withheld
information about dam problems. Had that information been shared,
the regulator said, the dam could have been prevented from
collapsing. The dam in question killed 270 people earlier this year
when it collapsed. Authorities are investigating Vale's former
chief executive's response to an email company leaders received
saying some of Vale's dams were "at their limit."
ADRs of GW Pharmaceuticals fell 17% to $111.76. The company
reported third-quarter financial results Tuesday and beat estimates
from analysts for revenue and earnings but Stifel and JPMorgan cut
the company's price targets.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
November 06, 2019 19:02 ET (00:02 GMT)
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