International stocks trading in New York closed mixed on
Thursday.
The BNY Mellon index of American depositary receipts fell 0.24%
to 147.60. The European index decreased 0.39% to 144.00, the Asian
index improved 0.08% to 156.48, the Latin American index rose 0.09%
to 232.85 while the emerging markets index declined 0.08% to
275.00. Alibaba Group Holding Ltd. (BABA) and Oi SA (OIBR, OIBRC,
OIBR4.BR) were among the companies with ADRs that traded
actively.
ADRs of Alcatel-Lucent (ALU, ALU.FR) rose 1.68% to $3.64 after
the Paris-based telecommunications-equipment maker reported
stronger first-quarter margins although slow spending by big U.S.
telecom companies pushed it to another loss. The latest results
underscore the challenges and the benefits Nokia Corp. (NOK,
NOK1V.HE) could reap if its completes its EUR15.6 billion euro
($17.7 billion) takeover bid for the maker of wireless network gear
and Internet-routing equipment. Nokia's ADRs rose nearly 4% to
$6.72.
ADRs of Alibaba rose nearly 8% to $86 after the Chinese
e-commerce giant unveiled a broad management shuffle that included
a new chief executive and a younger generation of leaders. The
company also reported better-than-expected revenue growth of 45%
for the quarter ended in March quarter thanks to continued growth
in mobile transactions.
ADRs of ArcelorMittal SA (MT, MT.FR, MT.AE) fell 3% to $10.26
after the Luxembourg-based steelmaker warned investors it will miss
its profitability target this year after it reported a
wider-than-expected first-quarter net loss amid tumbling steel
prices. The world's largest steel producer by shipments said
Thursday that U.S. customers have run down steel inventories amid
growing competition from Chinese and Russian steel exports,
contributing to a world-wide steel glut.
ADRs of Aviva PLC (AV, AV.LN) rose 2% to $16.03 as the
U.K.-based insurer reported a 14% rise in new business for the
first-quarter and said its turnaround is on track and ahead of
schedule. The world's sixth-largest insurance firm measured by net
premium income added that detailed plans to integrate Friends Life
are well underway and, while this is a challenging and complex
project, the board is confident of timely progress.
ADRs of ING Groep NV (ING, INGA.AE) rose 1.55% to $15.68 after
the Amsterdam-based bank recorded a sharp rise in first-quarter
earnings as it benefited from a pickup in lending activity in
Europe and lower provisions for bad loans.
Brazil's Oi swung to a loss in first quarter as the
telecommunications company saw a drop in revenue and an increase in
its debt-service costs. ADRs fell 6% to $1.86.
Philips NV (PHG, PHIA.AE) moved a step closer to splitting
itself into two after investors approved a plan to spin off the
company's nearly 124-year-old lighting business. Shareholders voted
almost unanimously in favor of the split at a meeting in Amsterdam,
clearing the way for what will likely be an initial public offering
for the lighting business. Philips has said the listing could occur
in the first half of 2016. Philips's ADRs closed down 0.88% to
$28.12.
Rio Tinto PLC (RIO, RIO.LN, RIO.AU) said it won't follow
Anglo-Australian rival BHP Billiton by spinning off unwanted
assets, hosing down speculation the miner may carve off parts of
its business as it grapples with a downturn in commodity markets.
Rio Tinto's chairman and chief executive said they were happy with
the size of the company--one of the world's biggest producers of
commodities including iron ore, copper and diamonds--and that they
were looking at several options to expand. The comments come a day
after BHP's shareholders voted overwhelmingly in favor of a plan to
spin off a suite of assets. Rio Tinto's ADRs edged down 0.11% to
$45.62, while ADRs of BHP Billiton Ltd. (BHP, BHP.AU) closed down
2.22% to $50.27 and ADRs of BHP Billiton PLC (BBL, BLT.LN) ADRs
were down 2.35% to $47.40.
ADRs of Sasol Ltd. (SSL, SOL.JO) fell 4% to $38.49 after the
South African petrochemicals giant said its Gabon crude oil asset
remains under pressure from a weak commodity prices. However, Sasol
also expects its natural-gas sales to increase for the quarter
ending in June, thanks to a Mozambican gas-to-power plant reaching
full production.
Telecom Italia SpA (TI, TIA, TIT.MI), Italy's dominant
telecommunications operator, said its first-quater earnings tumbled
by two-thirds as it absorbed the negative effects of a bond buyback
and revenue fell in its domestic and Brazilian markets. ADRs closed
up 0.09% at $11.58.
Write to Tess Stynes at tess.stynes@wsj.com
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