ADRs End Higher; Baidu, Novartis Rise
April 25 2017 - 5:29PM
Dow Jones News
By Anne Steele
International stocks trading in New York closed higher on
Tuesday.
Baidu Inc. (BIDU, K3SD.SG) and Novartis AG (NVS, NOVN.EB) were
among the companies with ADRs that traded actively.
The BNY Mellon index of American depositary receipts rose 0.8%
to 137.38. The European index also increased 0.8% to 130.17, the
Asian index improved 1.1% to 154.57, the Latin American index edged
0.2% higher to 227.73 and the emerging markets index increased 0.9%
to 279.26.
ADRs of Baidu shot up 3.9% to $186.99 after Netflix Inc., which
has struggled to win government approval to operate in China, said
it had struck a licensing deal with Chinese video-streaming
platform iQiyi to show the U.S. company's original content in the
country. IQiyi is a subsidiary of Baidu, China's most popular
internet search engine.
ADRs of Novartis, meanwhile, ended 2.2% higher at $76.24 after
the company posted solid quarterly results showing sales of its
heart-failure drug Entresto are gaining momentum.
Write to Anne Steele at anne.steele@wsj.com.
(END) Dow Jones Newswires
April 25, 2017 17:14 ET (21:14 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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