ADRs End Slightly Lower; AngloGold and Telecom Italia Trade Actively
April 16 2018 - 7:25PM
Dow Jones News
International stocks trading in New York closed slightly lower
on Monday.
The BNY Mellon index of American depositary receipts fell 0.03%
to 153.09. The European index decreased 0.01% to 141.50. The Asian
index edged up 0.3% to 179.63. The Latin American index fell 1.2%
to 263.76. And the emerging-markets index dropped 0.2% to
330.79.
AngloGold Ashanti Ltd. (AU), Telecom Italia SpA (TI) and
Astrazeneca PLC (AZN) were among those with ADRs that traded
actively.
South Africa-based AngloGold said Monday that its chief
executive, Srinivasan Venkatakrishnan, has resigned to become the
new CEO of Vedanta Resources PLC (VEDL). Anglogold said Mr.
Venkatakrishnan will remain in the CEO role until Aug. 30 and it
has already has begun the search for his successor. The gold mining
company said it intends to identify a replacement before his
departure. ADRs of AngloGold fell 2% to $9.17.
Italy's Minister of Economic Development Carlo Calenda tells La
Repubblica that state-controlled lender CDP bought a stake in
Telecom Italia not to take over control but to support a project
that includes the spinoff of its network business. CDP said earlier
this month that it planned to build up a long-term stake in Telecom
Italia of up to 5%. According to market regulator Consob, it now
holds a 4.3% stake. ADRs of Telecom Italia rose 2.2% to $10.70.
In a rivalry to prove cancer drug combinations work better for
advanced lung cancer, Merck & Co. (MRK) released late-stage
results showing that a cancer drug combination using its Keytruda
reduced risk of death by half in patients with advanced lung
cancer. ADRs of U.K.-based Astrazeneca, another drugmaker working
in the space, fell 1.6% to $35.75.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
April 16, 2018 19:10 ET (23:10 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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