Historical Stock Chart
2 Months : From Jun 2019 to Aug 2019
By Aisha Al-Muslim
International stocks trading in New York closed lower Tuesday.
The S&P/BNY Mellon index of American depositary receipts fell 0.5% to 141.87. The European index declined 0.5% to 131.51. The Asian index decreased 0.4% to 164.19. The Latin American index increased 0.5% to 253.50. And the emerging-markets index fell 0.3% to 308.63.
BP PLC (BP), CRH PLC (CRH) and Pearson PLC (PSO) were among those with ADRs that traded actively.
BP might take a hit from plant maintenance activity in second-quarter results on July 30, says Credit Suisse. The brokerage says the quarter is likely to be less predictable for the oil major because of heavier maintenance in its production and refining businesses. Credit Suisse cuts its net-income forecast to $2.25 billion. "Quarterly results are key catalysts, as is progress on its disposal plan. Sticking to its capital framework is important. As the business progressively improves, an update on the distribution policy may also be forthcoming. Risks include a reversal in operating/capital efficiency." ADRs of BP fell 1.2% to $40.21.
CRH's sale of its European distribution unit should be well received as the price of the deal is higher than expected, Goodbody says. The Irish building-materials company has agreed to sell the division to Blackstone Group for up to EUR1.64 billion following a monthslong review of the business. According to Goodbody's estimates, CRH's European distribution business was valued at around EUR1.2 billion, suggesting the price agreed includes the unit's upside potential over the medium term. ADRs of CRH rose 0.8% to $33.69.
Pearson is set to embrace a full "digital first" strategy in its higher-education publishing operations as the educational publishing industry moves to adopt an access model, Citi says. This shift underscores a fundamental operational evolution at the U.K. education company perhaps underestimated by the market, Citi says. "What is changing here is how the content is produced with the emphasis very much on making the content model more continuous bringing the educational publishing industry more into line with mobile apps, professional software or the gaming industry," analysts at the bank say. ADRs of Pearson rose 2.2% to $11.
Write to Aisha Al-Muslim at firstname.lastname@example.org
(END) Dow Jones Newswires
July 16, 2019 19:17 ET (23:17 GMT)
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