ADRs End Mostly Lower; Oil Companies Trade Actively
December 01 2017 - 6:12PM
Dow Jones News
International stocks trading in New York closed mostly lower on
Friday.
The BNY Mellon index of American depositary receipts declined
0.4% to 149.92. The European index eased 0.2% to 139.63. The Asian
index fell 0.9% to 176.55, and the emerging-markets index declined
0.5% to 316.19.
Meanwhile, the Latin American index rose 1% to 237.47.
Oil companies were among those with ADRs that traded
actively.
Royal Dutch Shell PLC (RDSB, RDSB.LN) has moved to unleash a
massive natural-gas resource buried in coal deposits in eastern
Australia in a development that will see fuel flow to its
majority-owned liquefied-natural-gas venture on the country's
tropical coast. The energy giant and various partners have agreed
to a 27-year sales deal covering 5 trillion cubic feet of gas that
will anchor the staged development of the Arrow fields in
Queensland. ADRs closed down 0.3% at $65.77.
Shire PLC (SHPG, SHP.LN) said on Friday that it has appointed
Dr. Andreas Busch as executive vice president, head of research and
development and chief scientific officer. The pharmaceutical
company said Dr. Busch will become a member of its executive
committee in January, joining Shire after 13 years at Bayer AG.
Shire also said it was appointing its current head of research and
development, Dr. Howard Mayer, as its chief medial officer, also
effective in January. ADRs closed down 0.3% at $148.25.
U.S. oil prices settled higher Friday, finding support a day
after the Organization of the Petroleum Exporting Countries and
other major producers agreed to extend their production-cut
agreement to the end of next year. However, concerns about growing
output from producers who aren't part of the deal, particularly the
U.S., helped pull prices down by 1% for the week. That was the
biggest weekly loss since the first week of October. ADRs of BP PLC
(BP, BP.LN) closed down 0.3% at $39.95. Meanwhile, ADRs of Total SA
(TOT, FP.FR) edged up 0.1% to $56.58; Eni Spa (E, ENI.MI) improved
0.2% to $33.02; Vale SA (VALE, VALE3.BR, VALE5.BR, VALE5.FR) rose
1.9% to $10.90; and Statoil ASA (STO, STL.OS) rose 0.9% to
$20.25.
(END) Dow Jones Newswires
December 01, 2017 17:57 ET (22:57 GMT)
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