ADRs End Mostly Higher; Anheuser-Busch InBev Rises
November 11 2015 - 5:59PM
Dow Jones News
International stocks trading in New York closed mostly higher on
Wednesday.
Anheuser-Busch InBev NV (BUD, ABI.BT) was among the companies
with ADRs that traded actively.
The BNY Mellon index of American depositary receipts rose 0.17%
to 131.93. The European index increased 0.28% to 131.43, the Asian
index edged down 0.16% to 141.12, the Latin American index
increased 0.85% to 166.15 and the emerging markets index edged up
0.03% to 225.14.
Anheuser-Busch InBev on Wednesday said it had formally agreed to
buy SABMiller PLC for 69.8 billion British pounds ($105.5 billion),
a deal that creates a brewing behemoth that will sell roughly one
in three beers world-wide. As part of that deal, SABMiller has
agreed to sell its 58% share in the MillerCoors LLC joint venture
to its partner, Molson Coors Brewing Co., which holds the remaining
stake, as well as the Miller portfolio outside the U.S. for $12
billion. ADRs of Anheuser-Busch InBev rose 2.8% to $121.63.
Alibaba Group Holding Ltd. (BABA) reported blockbuster sales for
Singles' Day, further highlighting the resilience of the Chinese
consumer despite a flagging economy. This year's annual sale, a
sales event Alibaba started in 2009, is being closely watched in
part for signs of an impact from decelerating growth in the world's
second-largest economy. However, ADRs of the Chinese e-commerce
giant fell 1.9% to $79.85.
Banco Bradesco SA (BBDO, BBDC4.BR, BBD) confirmed Wednesday that
the heads of two of its insurance units were killed Tuesday night
in a small plane crash, along with the plane's pilot and co-pilot.
ADRs of the Brazilian lender fell six cents to $6.36.
The heads of BHP Billiton and Vale SA (VALE, VALE3.BR, VALE5.BR,
VALE5.FR)--two of the world's biggest mining companies--made an
appearance Wednesday, nearly a week since a dam at their Samarco
Mineracao SA joint venture burst last week. The CEOs didn't provide
an explanation as to what may have caused the disaster. ADRs of BHP
Billiton Ltd. (BHP, BHP.AU) fell 3.2% to $28.93, while BHP Billiton
PLC (BBL, BLT.LN) decreased 3.2% to $27.98 and Vale fell 1.7% to
$4.04.
Advertising firm WPP PLC (WPPGY, WPP.LN) said that its GroupM
unit has acquired a majority stake in mobile marketing agency
Yonder Media in South Africa for an undisclosed sum. Established in
2005, Yonder Media is a mobile-first digital and social media
agency. ADRs of WPP rose 2.5% to $114.98.
Write to Tess Stynes at tess.stynes@wsj.com
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(END) Dow Jones Newswires
November 11, 2015 17:44 ET (22:44 GMT)
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