ADRs End Mostly Higher; China Eastern, Teva Trade Actively
December 13 2017 - 06:30PM
Dow Jones News
International stocks trading in New York closed mostly higher on
Wednesday.
The BNY Mellon index of American depositary receipts rose 0.4%
to 151.27. The European index increased 0.3% to 140.86. The Asian
index rose 0.7% to 178.36. The emerging-markets index rose 0.3% to
318.67, and the Latin American index fell 1.2% to 239.23. China
Eastern Airlines Corp. (CEA) and Teva Pharmaceutical Industries
Ltd. (TEVA) were among those with ADRs that traded actively.
Chinese airlines rose amid hopes that companies in the sector
will be among the next batch to get fresh outside investment amid
the government's so-called mixed-ownership reform. ADRs in China
Eastern Airlines rose 4.3% to $30.88 and China Southern Airlines
Co. (ZNH) rose 3.8% to $48.
ADRs in Teva fell 5% to $15.70 as the company said it would
detail its restructuring plan and additional measures to improve
its business Thursday morning. Media reports last week said that
the company is considering cutting as many as 10,000 jobs.
ADRs of Sanofi SA (SNY) fell 0.1% to $43.92 after the company
said it expects to begin at least 10 Phase 3 studies over the next
12 months, an announcement that came from a preview of its
research-and-development strategy and pipeline for 2018.
(END) Dow Jones Newswires
December 13, 2017 18:15 ET (23:15 GMT)
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