ADRs End Mixed; Criteo, ASML Holding, ArcelorMittal Trade Actively
September 07 2018 - 5:57PM
Dow Jones News
International stocks trading in New York closed mixed on
Friday.
The BNY Mellon index of American depositary receipts fell 0.3%
to 140.15. The European index decreased 0.6% to 130.38. The Asian
index rose 0.1% to 167.42. The Latin American index rose 1.3% to
210.00. And the emerging-markets index increased 0.7% to
297.07.
Criteo SA (CRTO), ASML Holding NV (ASML) and ArcelorMittal SA
(MT) were among those with ADRs that traded actively.
Criteo shares fell on news the company had been decertified as a
Facebook Inc. (FB) marketing partner, but Criteo said late Friday
that its change in "partner status" doesn't affect its ability to
buy advertising inventory for clients on the Facebook platform.
Criteo said second-quarter revenue excluding traffic acquisition
costs from inventory on the Facebook platform was 4% of Criteo's
total. According to a Bloomberg report, a Goldman Sachs analyst
said Friday that Criteo was decertified on July 1. ADRs of Criteo
SA fell 9.1% to $23.15.
Demand concerns weighed on ASML Holding shares, making the Dutch
semiconductor company one of the biggest losers of the Stoxx Europe
50 this week. Liberum analyst Janardan Menon attributes the ASML
share fall to an industrywide trend of concerns about peaking
demand and chip pricing. According to NIBC Bank's Edwin de Jong,
ASML shares have been hit by fears that trade tensions could
disrupt supply chains. Forecasts that Intel will adopt extreme
ultraviolet lithography technology, or EUV, later than expected and
Globalfoundries putting a semiconductor program on hold have also
dragged down ASML, which supplies equipment to both. These issues
could hurt a key driver of growth, Mr. de Jong says. ADRS of ASML
fell 1.9% to $180.87.
The agreement ArcelorMittal reached with Italian unions Thursday
"should pave the way for a closing of the deal, as the Italian
government no longer seems to oppose it," Kepler Cheuvreux says.
The company said under the terms of the agreement, it will
initially hire 10,700 workers based on their existing contractual
terms of employment. In addition, between 2023 and 2025 the company
has committed to hire any workers who remain under Ilva's
extraordinary administration. "An Ilva deal is a mild positive for
stock sentiment, particularly as there are no major deviations from
the initial plan," Kepler says. ADRS of ArcelorMittal fell 0.6% to
$28.74.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
September 07, 2018 17:42 ET (21:42 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
ASML Holding NV (NASDAQ:ASML)
Historical Stock Chart
From Aug 2024 to Sep 2024
ASML Holding NV (NASDAQ:ASML)
Historical Stock Chart
From Sep 2023 to Sep 2024