ADRs Gain In New York Trading; Santander, AB InBev Trade Actively

International stocks trading in New York rose on Thursday.

The S&P/BNY Mellon index of American depositary receipts increased 0.5% to 142.17. The European index rose 0.5% to 131.73. The Asian index was up 0.3% to 164.29 and the Latin American index increased 0.7%, closing at 255.43. The emerging markets index increased 0.6% to close at 309.94.

The ADRs for Banco Santander SA (SAN) traded actively. Shares in the Spanish back fell about 1% Thursday after analysts at UBS downgraded the company's stock to Neutral from Buy. Santander faces a challenging interest-rate environment in Europe and weakness in the U.K., the analysts said. Cost reductions Santander is pursuing may also take longer than expected to materialize, according to UBS.

Anheuser-Busch InBev SA/NV's (BUD) ADRs also traded actively, with shares in the beer company gaining 1% to $89.34. AB InBev recently called off a planned initial public offering of its Asian business due to market conditions, canceling what would have been the largest IPO of the year. The company had planned to use proceeds from the offering to lower its debt load. Now, the company may sell business units in South Korea, Australia and Central America in order to raise funds to lower its debt, The Wall Street Journal reported Thursday.

(END) Dow Jones Newswires

July 18, 2019 17:29 ET (21:29 GMT)

Banco Santander (NYSE:SAN)
Historical Stock Chart
From Mar 2024 to Apr 2024