ADRs End Higher
August 31 2017 - 7:59PM
Dow Jones News
International stocks trading in New York closed higher on
Thursday.
The BNY Mellon index of American depositary receipts rose 0.79%
to 145.36, the European index increased 0.94% to 135.06, the Asian
index improved 0.61% to 169.13, the Latin American index edged up
0.27% to 247.71 and the emerging markets index increased 0.34% to
317.07.
BHP Billiton Ltd. (BHP) was among the companies with ADRs that
traded actively.
RBC estimates that commodities heavyweight BHP's oil-and-gas
business could bring in $6.2 billion, but that a sale doesn't
resolve issues with its mature assets. RBC downgraded the company's
stock to underperform and lowered its price target 3.6% to
GBP13.25. However, the company is raising the global cap on its
bond-repurchasing program to $2.94 billion from $2.5 billion. ADRs
in BHP rose 1.6% to $43.50.
ADRs in Ctrip.com International Ltd. (CTRP) fell 2.4% to $51.45
despite the company reporting revenue growth and margin expansion
in its latest quarter. Analysts from Raymond James lowered its
price target to $58 from $65 on near-term uncertainty around
potential changes to cross-selling practices in transportation in
the country.
(END) Dow Jones Newswires
August 31, 2017 19:44 ET (23:44 GMT)
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