ADRs End Higher; Natuzzi, Lufthansa Actively Traded
March 13 2020 - 8:45PM
Dow Jones News
By Kimberly Chin
International stocks trading in New York closed higher on Friday
after some global markets rebounded following a tumultuous week
marked by broad-based selloffs over fears of the coronavirus's
effect on people and business.
The S&P/BNY Mellon index of American depositary receipts
rose 5.4% to 112.54. The European index improved 5.2% to 99.45. The
Asian index rose 4.9% to 149.72. The Latin American index climbed
12% to 146.90. And the emerging-markets index rose 6.1% to
265.26.
Natuzzi SpA and Deutsche Lufthansa AG were among the ADRs that
traded most actively.
The American depositary receipts of Natuzzi rose 16% after the
furniture company said it was taking a series of measures to
mitigate the effects from the coronavirus outbreak including
cutting expenses, deferring some investments and workforce-related
actions.
Lufthansa's ADRs jumped 9.3% after the company said at least two
thirds of its nearly 800 aircraft will stay on the ground starting
in the coming days as the German flagship carrier grapples with
falling bookings and travel bans due to the coronavirus pandemic.
The company said Friday it was also weighing additional measures
such as closing individual hubs.
Bayer AG's ADRs rose 4.9% on Friday. The company agreed to draft
settlement terms with half a dozen law firms representing tens of
thousands of plaintiffs alleging that the company's Roundup
weedkiller causes cancer, The Wall Street Journal reported.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
March 13, 2020 20:30 ET (00:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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