ADRs End Higher; America Movil, AstraZeneca and Shire Trade Actively
February 15 2018 - 7:02PM
Dow Jones News
International stocks trading in New York closed higher on
Thursday.
The BNY Mellon index of American depositary receipts rose 0.7%
to 156.18. The European index increased 0.6% to 141.88. The Asian
index rose 0.9% to 188.10. The Latin American index increased 0.8%
to 276.84, and the emerging-markets index rose 1% to 347.11.
America Movil SAB de CV (AMX), AstraZeneca PLC (AZN) and Shire
PLC (SHPG) were among those with ADRs that traded actively.
Analysts looked past Mexico-based telecom giant America Movil's
$606 million fourth-quarter net loss--largely on foreign
exchange--to improving profitability reflected in a 6.8% increase
in Ebitda. "Underlying fundamental trends appear to be moving in
the right direction in America Movil's largest profit-generating
regions," said Barclays. ADRs of America Movil rose 3.6% to
$19.37.
U.K.-based AstraZeneca said Thursday that the U.S. Food and Drug
Administration has granted orphan drug designation for Selumetinib,
a drug used to treat incurable genetic condition Neurofibromatosis
Type 1. The pharmaceutical company said a U.S. National Cancer
Institute-sponsored Phase I and II trial is exploring the use of
Selumetinib to treat NF1 in pediatric patients. Phase II trial
results are expected later in 2018, AstraZeneca said. ADRs of
AstraZeneca rose 1.6% to $34.02.
Investors have been too negative on Ireland-based Shire's
acquisition of hemophilia treatment business Baxalta in 2016, said
Credit Suisse. Baxalta was a business with high manufacturing costs
and one where demand for its leading products was forecast to
decrease under pressure from competitors. However, Shire's latest
results show that revenue from Baxalta products is rising. Its
hemophilia line has grown 3%, while its immunoglobulin therapies
product expanded 18%--a result driven both by an expansion in the
underlying market, as well as Shire making the most of a portfolio
that wasn't being optimized previously, says Credit Suisse. ADRs of
Shire rose 1.8% to $135.30.
(END) Dow Jones Newswires
February 15, 2018 18:47 ET (23:47 GMT)
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