ADRs End Mostly Down; Tech and Oil Companies Trade Actively
June 27 2017 - 6:06PM
Dow Jones News
International stocks trading in New York closed mostly lower on
Tuesday.
The BNY Mellon index of American depositary receipts eased 0.23%
to 140.33. The Asian index declined 0.83% to 158.45. The Latin
American index decreased 0.78% to 214.99. And the emerging-markets
index fell 1.2% to 285.73. Meanwhile, the European index improved
0.12% to 133.95.
Tech and oil companies were among those with ADRs that traded
actively.
Oil prices surged Tuesday after reports of significant
cyberattacks on global businesses, including a shipper and a
Russian oil giant. As of Tuesday's closing, prices were up for four
straight sessions, the longest winning streak in a month. Data from
the American Petroleum Institute released after the market closed,
however, showed an unexpected build in U.S. crude supply, the
Journal reported. Among the big gainers Tuesday were Total SA (TOT,
FP.FR), up 1.8% at $50.06; and Royal Dutch Shell PLC (RDSA,
RDSA.LN), up 1.5% at $53.27.
Carnage in technology shares put the Nasdaq Composite on track
for its first monthly decline in 2017. The Nasdaq Composite Index
(XLK) closed off 1.6%, marking its worst daily decline since June
9, when tech suffered a 1.8% drop, MarketWatch reported. Among
those with the widest losses were NetEase Inc. (NTES, K3MD.SG),
down 2.9% to $311.50; JD.com (JD), down 5.6% to $40.69; Baidu Inc.
(BIDU, K3SD.SG), down 1.6% to $175.60; and Weibo Corp. (WB), down
3.5% to $69.08.
Danish pharmaceutical company Novo Nordisk A/S (NVO, NOVO.B-KO)
is betting that wider uptake of its products in China will offset
price reductions required by the Chinese government. Regulators in
the country are expected to decide soon whether to include two of
Novo Nordisk's newer medications--Victoza, used to treat Type 2
diabetes, and NovoSeven, a hemophilia treatment--on the country's
drug reimbursement list. The state-funded program reimburses
Chinese patients part or all of the drug's price, depending on its
classification. Both drugs are currently available for sale in
China, but patients must pay in full for the medicines. ADRs closed
down 2% at $43.50.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
June 27, 2017 17:51 ET (21:51 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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