ADRs End Higher; Mining Firms Rise
April 19 2016 - 6:12PM
Dow Jones News
International stocks trading in New York closed higher
Tuesday.
The BNY Mellon index of American depositary receipts rose 1.7%
to 128.56. The European index increased 1.7% to 126.23, the Asian
index improved 1.3% to 137.08, the Latin American index rose 3.4%
to 187.53 and the emerging markets index increased 1.3% to
241.28.
Mining firms were among the companies with ADRs that traded
actively.
Rising commodities prices boosted mining and energy companies in
Europe and Australia. Among mining firms with ADRs, BHP Billiton
Ltd. (BHP, BHP.AU) rose 5.2% to $31.46, BHP Billiton PLC (BBL,
BLT.LN) increased 5.8% to $27.98 and Rio Tinto PLC (RIO, RIO.LN,
RIO.AU) advanced 4.1% to $33.80.
Anheuser-Busch InBev NV (BUD) accepted the roughly $2.9 billion
offer from Asahi Group Holdings Ltd. for SABMiller PLC's European
premium brands, an important step in the Belgian brewer's effort to
get regulatory approval for its pending acquisition of its biggest
rival. AB InBev said Tuesday that the deal with Japan's Asahi is
conditional upon the completion of the roughly $108 billion
acquisition of SABMiller. Anheuser-Busch InBev's ADRs rose 3% to
$131.77.
West Africa-focused gold producer Randgold Resources Ltd. (GOLD,
RRS.LN) warned Tuesday that it expects the Kibali gold mine in
Congo to produce less gold this year and next, compared with last
year's record production as it ramps up it underground mining
operations. Randgold operates Kibali and owns a 45% stake. ADRs
rose 3.6% to $96.36 amid higher gold prices.
French drug maker Sanofi SA (SNY) said Tuesday that it planned
to invest €300 million ($339 million) to expand its manufacturing
site for biological drugs in Belgium. ADRs rose 1.1% to $44.19.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
April 19, 2016 17:57 ET (21:57 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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