ADRs End Higher; Chinese Firms Rise
August 27 2015 - 6:44PM
Dow Jones News
International stocks trading in New York closed higher on
Thursday.
The BNY Mellon index of American depositary receipts rose 2.7%
to 132.83. The European index increased 2.2% to 133.61, the Asian
index improved 3.3% to 137.63, the Latin American index rose 5.3%
to 176.18 and the emerging markets index increased 4.65% to 220.66.
Chinese firms were among the companies with ADRs that traded
actively.
China shares jumped by the most in over a month on Thursday, as
cheap valuations lured foreign investors to the battered market.
Among Chinese companies with ADRs, Aluminum Corp. of China Ltd.
(ACH, K3HD.SG) rose 14% to $8.66, China Eastern Airlines Corp.
(CEA, 0670.HK, 600115.SH, K3CD.SG) increased 11% to $28.83, Baidu
Inc. (BIDU, K3SD.SG) rose 6.8% to $152.06 and Weibo Corp. (WB)
increased 8.1% to $11.89.
ADRs of CRH PLC (CRH, CRH.DB) rose 4% to $29.37 after the Irish
construction group's chief executive said the company will take a
breather from large-scale acquisitions after it completes the $1.3
billion purchase of U.S. glazing products company C.R. Laurence Co.
Dublin-based CRH also reported a slight increase in profit for the
first six months of the year, but still beat analysts'
expectations.
ADRs of NQ Mobile Inc. (NQ) climbed 39% to $4.20 a day after the
company said it is selling its online game publishing unit, FL
Mobile Jiutian Technology Co., to Tsinghua Holdings Co.'s Beijing
Jinxing Ronda Investment Co. Ltd. in a deal valued at a minimum of
four billion yuan, or about $626 million.
ADRs of PetroChina Co. (PTR, 0857.HK, 601857.SH, K3OD.SG) rose
6% to $87.09 after China's biggest oil-and-gas producer by volume
reported that its earnings plunged 63% in the first half of 2015
amid slumping oil prices.
ADRs of Total SA (TOT, FP.FR) rose 6.1% to $45.27 after the
French oil major said that it has agreed to sell a gas pipeline and
gas terminal in the North Sea to North Sea Midstream Partners for
585 million pounds ($905 million) as it battles against the oil
price collapse.
Write to Tess Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 27, 2015 18:29 ET (22:29 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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