ADRs End Lower; Teva Trades Actively

International stocks trading in New York closed lower on Thursday.

The BNY Mellon index of American depositary receipts declined 0.23% to 146.25. The European index decreased 0.22% to 137.59. The Asian index eased 0.21% to 167.84. The Latin American index declined 0.28% to 238.49. And the emerging-markets index edged down 0.06% to 308.17.

Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) was among those with ADRs that traded actively.

Luxury conglomerate Kering SA has agreed to dismiss a lawsuit against Chinese e-commerce giant Alibaba Group Holding Ltd. (BABA) as part of a new deal between the two companies to fight counterfeit goods sold on Alibaba's websites. Alibaba ADRs rose 0.93% to $153.32.

Randgold Resources Ltd. (GOLD, RRS.LN) on Thursday reported strong second-quarter results, which it said has positioned the African gold miner to meet the top end of its 2017 production guidance. ADRs rose 2.6% to $95.10.

Shire PLC (SHPG, SHP.LN) lowered its full-year sales expectations Thursday as it braced for a new low-cost competitor to its ulcerative colitis drug Lialda. But the Dublin-based biopharmaceutical company brightened its profit outlook, due to better-than-expected cost savings from its $32 billion acquisition of Baxalta in 2016. ADRs fell 3.3% to $161.58.

Investor concerns about Teva, which is grappling with a leadership vacuum and industry headwinds, mounted on Thursday, when the world's biggest seller of generic drugs offered a bleak financial update that sent shares reeling. The drugmaker, which is Israel's largest company by market capitalization, posted disappointing second-quarter results, cut its full-year outlook and slashed its dividend, blaming the rapid deterioration of its all-important U.S. generic-drug business. ADRs fell 24% to $23.75.

(END) Dow Jones Newswires

August 03, 2017 17:29 ET (21:29 GMT)

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