ADRs Climb on Friday with SAP, Rio Tinto and JD.com Trading Actively
October 11 2019 - 6:04PM
Dow Jones News
By Allison Prang
International stocks trading in New York closed higher on
Friday.
SAP SE (SAP), Rio Tinto PLC (RIO) and JD.com Inc. (JD) were
among the companies with ADRs that traded actively.
The S&P/BNY Mellon index of American depositary receipts
rose 2% to 138.11. The European index increased 2% to 127.59, the
Asian index improved 1.9% to 164.26, the Latin American index rose
2% to 224.39 and the emerging markets index increased 2% to
296.94.
ADRs of SAP SE rose 9.5% to $126.20. The software company's
third-quarter earnings that it reported on Thursday beat analysts'
estimates. The German company also said Thursday that its chief
executive was stepping down and two co-CEOs were taking over.
ADRs of Rio Tinto PLC rose 3.8% to $52.85. Jefferies raised the
company's rating to buy, up from hold, and touted the importance of
its dividend, arguing it is underappreciated. BMO Capital Markets
said Thursday that the company might have to change its
expectations for sales and iron-ore production again.
ADRs of JD.com Inc. climbed 4% to $29.71. 86 Research raised its
price target on the company from $35 a share to $41 a share and
raised its rating to buy, according to Benzinga. It had a hold
rating on the company.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 11, 2019 17:49 ET (21:49 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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