ADRs End Higher; Infosys Falls
August 18 2017 - 5:36PM
Dow Jones News
International stocks trading in New York closed higher on
Friday.
The BNY Mellon index of American depositary receipts improved
0.25% to 142.97. The European index edged up 0.04% to 133. The
Asian index improved 0.32% to 166.38. The Latin American index rose
1.8% to 241.34. And the emerging-markets index increased 0.78% to
308.57.
Infosys Ltd. (INFY, 500209.BY) was among those with ADRs that
traded actively.
ADRs of Alibaba Group Holding Ltd. (BABA) rose 2.2% to $167.50 a
day after the company reported fiscal first-quarter earnings nearly
doubled from the year earlier as sales surged 56% to $7.4 billion,
beating analysts' estimates.
Vishal Sikka resigned Friday as chief executive of Infosys,
citing a resistance to change at the company that deteriorated into
ugly accusations of impropriety at India's second-largest software
and outsourcing company. The Bangalore-based company said Mr. Sikka
had the support of the board but had been harassed into leaving by
Infosys founder N.R. Narayana Murthy. Mr. Murthy said Friday that
he has only been concerned about how the company he founded and
left voluntarily in 2014 is managed, and hasn't been trying to get
money or control out of Infosys. ADRs fell 7% to $14.79.
(END) Dow Jones Newswires
August 18, 2017 17:21 ET (21:21 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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