ADRs End Higher; AngloGold Ashanti, Mobile Telesystems, Pearson Trade Actively

Date : 06/22/2018 @ 5:53PM
Source : Dow Jones News
Stock : Pearson, (PSO)
Quote : 11.93  0.0 (0.00%) @ 5:59AM

ADRs End Higher; AngloGold Ashanti, Mobile Telesystems, Pearson Trade Actively

Anglogold Ashanti (NYSE:AU)
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International stocks trading in New York closed higher Friday.

The BNY Mellon index of American depositary receipts rose 1.4% to 147.78. The European index increased 1.8% to 137.27. The Asian index was up 0.8% at 178.83. The Latin American index rose 0.8% to 211.22. And the emerging-markets index increased 0.8% to 316.47.

AngloGold Ashanti Ltd. (AU), Mobile Telesystems PJSC (MBT) and Pearson PLC (PSO) were among those with ADRs that traded actively.

AngloGold Ashanti said Friday that the parliament of Ghana has approved the regulatory and fiscal agreements for the redevelopment of the Obuasi gold mine. The environmental-permitting process is also at an advanced stage, the company said. "This is an important milestone that follows extensive negotiations and debate," said AngloGold Ashanti Chief Executive Srinivasan Venkatakrishnan. ADRs of AngloGold Ashanti rose 0.4% to $8.26.

Two members of Congress sent a letter asking the Trump administration to investigate Russian billionaire Vladimir Yevtushenkov and his companies, Sistema JSFC and Mobile Telesystems, and consider hitting them with sanctions, reports Radio Free Europe/Radio Liberty. The letter by Republican Reps. Ileana Ros-Lehtinen and Mark Walker, which was originally sent in May, cites the involvement of Sistema in projects in Crimea, says Radio Free Europe/Radio Liberty. ADRs of Mobile Telesystems dropped 2.4% to $8.48.

Educational publisher Pearson will miss 2018 guidance, Berenberg forecasts, citing increased pressure from U.S. rival Cengage. Pearson's full-year guidance requires its U.S. higher education courseware sales to be flat or even fall up to 5% in 2018, the investment bank notes. However, this guidance implies a market-share gain for the London-based company whereas Berenberg anticipates Pearson to lose ground as Cengage launches a subscription-based college textbook service in August. "We believe [Cengage's service] will resonate with educators, and that Cengage will achieve higher adoption rates for its textbooks as a result. This implies that less courseware from competing publishers will be sold," Berenberg analysts say. ADRs of Pearson are up 0.5% to $11.46.

 

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

 

(END) Dow Jones Newswires

June 22, 2018 17:38 ET (21:38 GMT)

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

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