SHEL Shell Plc

By Paul Ziobro

International stocks trading in New York closed higher Friday.

The S&P/BNY Mellon index of American depositary receipts rose 0.7% to 151.84. The European index was up fractionally to 145.91. The Asian index rose 1.5% to 176.64. The Latin American index increased 2% to 204.50 and the emerging-markets index gained 2.1% to 294.37.

Alibaba Group Holding and Coca-Cola HBC were among the companies with ADRs that traded actively.

ADRs of Alibaba rose 8% to $90.55 after China's financial regulators imposed a nearly $1 billion fine on Ant Group, a financial technology company in which Alibaba owns a one-third stake. The action moves Ant Group closer to the end of its long-running business overhaul.

ADRs of Coca-Cola HBC rose 6.8% to $30.60 after the soft-drink bottling company raised its profit outlook for the year following a stronger-than-expected performance in June.

ADRs of Shell rose 1.9% to $59.65 after the energy company provided an update on its quarterly outlook, including projections for a working capital gain of between $2 billion and $6 billion. Analysts said that should give investors confidence that Shell's pace of share buybacks will continue, despite softening market conditions.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

July 07, 2023 16:52 ET (20:52 GMT)

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