ADRs End Mostly Lower; iQiyi, Unilever Trade Actively

Date : 06/14/2018 @ 5:45PM
Source : Dow Jones News
Stock : Glaxosmithkline (GSK)
Quote : 40.99  -0.28 (-0.68%) @ 3:41PM

ADRs End Mostly Lower; iQiyi, Unilever Trade Actively

Iqiyi, Inc. (MM) (NASDAQ:IQ)
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International stocks trading in New York closed mostly lower on Thursday.

The BNY Mellon index of American depositary receipts declined 0.1% to 150.10. The Asian index eased 0.1% to 183.87. The Latin American index fell 1.9% to 212.96. And the emerging-markets index declined 0.4% to 324.61.

Meanwhile, the European index edged up 0.01% to 138.62.

iQiyi Inc. (IQ) and Unilever PLC (UL, ULVR.LN) were among those with ADRs that traded actively.

 

GlaxoSmithKline PLC (GSK, GSK.LN) said Thursday its subsidiary, ViiV Healthcare Ltd., has reported positive phase 3 studies for the dolutegravir and lamivudine drug combination, demonstrating the ability to control HIV with a two-drug regimen. ADRs rose 2% to $41.94.

 

Unilever said Thursday it was "extremely unlikely" it would keep a place in the FTSE 100 index after it consolidates its British and Dutch legal structure in the Netherlands. The move could force some investors -- namely funds that track the FTSE 100 -- to drop the company's shares. Unilever will retain a listing in London but not one that allows it to be included in the FTSE, of which it is one of the largest components. ADRs fell 3% to $53.63.

 

Chinese streaming company iQiyi Inc.'s (IQ) ADRs closed at a record $40.51, up 17% for the day, fueled by investor optimism. The company was split in March from Baidu Inc., which remains its controlling shareholder. On Thursday, iQiyi said Ctrip.com Chief Executive Jane Jie Sun and Dr. Haifeng Wang, Baidu's senior vice president and general manager of Baidu's artificial intelligence group, were joining its board. Baidu, meanwhile, closed up 0.2% at $270.64.

 

(END) Dow Jones Newswires

June 14, 2018 17:30 ET (21:30 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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