ADRs End Slightly Lower; BHP Billiton, Fresenius and Royal Philips Trade Actively
April 23 2018 - 6:23PM
Dow Jones News
International stocks trading in New York closed slightly lower
on Monday.
The BNY Mellon index of American depositary receipts fell 0.3%
to 152.80. The European index decreased 0.04% to 141.32. The Asian
index went down 0.4% to 178.38. The Latin American index fell 1.3%
to 267.36. And the emerging-markets index dropped 1% to 329.37.
BHP Billiton PLC (BBL), Fresenius Medical Care AG & Co. KGaA
(FMS) and Royal Philips NV (PHG) were among those with ADRs that
traded actively.
BHP Billiton said Monday that Brazil's federal court has
approved an additional 66 days for the completion of negotiations
regarding the public civil claims settlement related to the Samarco
dam failure in 2015. The mining giant said Samarco Mineracao S.A,
Vale S.A. (VALE), BHP Billiton Brasil Ltda. and Brazil's federal
prosecutors will now have until June 25 to conduct discussions
concerning the settlement. BHP Billiton said that until June 25,
the interim security arrangements and the current suspension of
legal proceedings will remain in place. ADRs of BHP Billiton fell
0.9% to $42.35.
Fresenius said Sunday that its net profit for the period was 279
million euros ($342.7 million), down 10% from last year but
unchanged at constant currency. Revenue was also down 10% on a
reported basis at 3.98 billion euros, but rose 2% at constant
currency. The German medical company said it expects revenue growth
of between 5% and 7% at constant currency in 2018, down from a
previous target of 8% due to a recent reduction in dosing of
calcimimetic drugs. ADRs of Fresenius fell 5.5% to $49.17.
Koninklijke Philips said Monday that first-quarter net income
from continuing operations decreased 27% after booking
restructuring, acquisition and bond-redemption charges and backed
its outlook for 2017-20. The Dutch technology company said that net
income from continuing operations for the quarter ended March 31
fell to 94 million euros ($115 million), compared with EUR128
million the previous year, on sales that fell to EUR3.9 billion
euros, from EUR4.04 billion. Comparable sales increased by 5%, it
said. Philips said it backed its target for the 2017-20 of 4%-6%
comparable sales growth. ADRs of Philips rose 4.3% to $42.34.
(END) Dow Jones Newswires
April 23, 2018 18:08 ET (22:08 GMT)
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