ADRs Slightly Higher; Alibaba, BP and Novartis Trade Actively
May 14 2018 - 7:02PM
Dow Jones News
International stocks trading in New York closed slightly higher
Monday.
The BNY Mellon index of American depositary receipts rose 0.4%
to 155.23. The European index increased 0.2% to 142.72. The Asian
index went up 0.9% to 186.12. The Latin American index dropped 0.5%
to 254.46. And the emerging-markets index increased 0.6% to
338.07.
Alibaba Group Holding Ltd. (BABA), BP (BP) and Novartis AG (NVS)
were among those with ADRs that traded actively.
Shares of Chinese internet names traded higher Monday after
President Donald Trump tweeted his support for ZTE Corp., a Chinese
smartphone maker that had been banned from buying U.S. components.
Mr. Trump's interest in working with China to find relief for ZTE
suggests a potential relaxation of trade-war tensions. ADRs of
Alibaba rose 2.2% to $198.64.
U.S. oil company ConocoPhillips is considering selling its North
Sea fields, including a 24% stake in the BP-operated Clair Field,
Reuters reported. Conoco could get as much as $2 billion for the
asset portfolio, which produced 750,000 barrels of oil a day in
2017, and has spoken to North Sea operators to assess interest in a
sale. ADRs of BP rose 1.2% to $46.40.
Novartis's multiple sclerosis drug Gilenya has been approved for
use in pediatric patients by the U.S. Food and Drug Administration,
the company and the regulator said. The drug, previously approved
for patients older than 18, is the first disease-modifying therapy
indicated for individuals aged between 10 and 18. Friday's approval
comes after a phase 3 clinical trial showed Gilenya reduced relapse
rates by approximately 82% over two years compared with interferon
injections, the FDA said. MS is mostly diagnosed in adults,
although children and adolescents diagnosed with the disease tend
to experience more frequent relapses. ADRs of Novartis rose 1% to
$78.33.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
May 14, 2018 18:47 ET (22:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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