ADRs End Lower; BHP Billiton, Rio Tinto and Aegon Trade Actively
June 19 2018 - 6:47PM
Dow Jones News
International stocks trading in New York closed lower
Tuesday.
The BNY Mellon index of American depositary receipts fell 0.8%
to 146.78. The European index decreased 0.7% to 135.42. The Asian
index dropped 1.4% to 179.59. The Latin American index rose 0.9% to
211.88. And the emerging-markets index fell 1.2% to 317.43.
BHP Billiton PLC (BBL), Rio Tinto Plc (RIO) and Aegon NV (AEG)
were among those with ADRs that traded actively.
BHP Billiton said Tuesday it has agreed to sell its Cerro
Colorado copper mine in Chile to private-equity manager EMR Capital
for up to $320 million. The dual-listed mining company said it will
be paid $230 million in cash when the transaction closes in the
fourth quarter. The company will also receive $40 million in
proceeds from the post-close sale of parts of Cerro Colorado's
copper inventory, and a payment of up to $50 million depending on
the performance of copper prices. ADRs of BHP Billiton fell 2.9% to
$43.39.
Mining companies fell, including Rio Tinto, as metal prices take
a hit from the trade spat between the U.S. and China. "Though there
was some bounce on the session open, the tit-for-tat in trade
tariffs sees fears of a trade war intensify," said Alastair Munro
at commodity trading group Marex Spectron. ADRs of Rio Tinto fell
3.7% to $54.95.
Dutch insurance and asset management company Aegon said Tuesday
its financial restructuring will increase its annual capital
generation by 150 million euros ($173.4 million). In a presentation
to analysts, Chief Financial Officer Matt Rider said Aegon would
retain part of the additional capital generation to offset the
impact of financial changes. Mr. Rider also said Aegon's
Netherlands and U.K. arms will change their reporting structures.
Aegon Netherlands will report in four segments: life, banking,
nonlife and service businesses. Aegon U.K. will report in two
segments: existing business and digital solutions. ADRs of Aegon
rose 2.1% to $6.28.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
June 19, 2018 18:32 ET (22:32 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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