ADRs End Higher; AngloGold Ashanti, Mobile Telesystems, Pearson Trade Actively
June 22 2018 - 5:53PM
Dow Jones News
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)
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