ADRs End Lower; Aegon Falls
November 12 2015 - 6:14PM
Dow Jones News
International stocks trading in New York closed lower on
Thursday.
The BNY Mellon index of American depositary receipts fell 1.5%
to 129.95. The European index decreased 1.72% to 129.17, the Asian
index dropped 0.98% to 139.74, the Latin American index declined
1.66% to 163.40 and the emerging markets index edged down 0.67% to
223.63. Aegon NV (AEG, AGN.AE) was among the companies with ADRs
that traded actively.
ADRs of Aegon fell 11% to $5.45 after the Dutch insurer reported
a slightly wider-than-expected third-quarter loss, which the
company blamed on assumption changes, the continuing model
refinement program and the anticipated book loss on the sale of its
low-return business in Canada.
ADRs of Alibaba Group Holding Ltd. (BABA) fell 1.4% to $78.76 a
day after the Chinese e-commerce giant reported a blockbuster $14.3
billion in sales for China's Singles' Day online shopping festival
Wednesday, further highlighting the resilience of the Chinese
consumer despite a flagging economy. The sales tally, which Alibaba
posted early Thursday morning local time, was 54% higher than a
year earlier and topped many analysts' estimates. Alibaba's
Singles' Day sales add to a string of positive notes from China's
consumer sector as the county's economy was showing further signs
of weakening.
Investors continued to dump iron-ore miner BHP Billiton after
the company says it was in a dispute with the tax office in the
Australian state of Queensland over coal royalty payments. The news
comes as Anglo-Australian company already is getting pounded by
accelerated declines in commodity prices in recent days and a
catastrophic dam breach at one of its joint-owned mines in Brazil.
ADRs of BHP Billiton Ltd. (BHP, BHP.AU) fell 2.6% to $28.19 and BHP
Billiton PLC (BBL, BLT.LN) declined 4.2% to $26.80.
Diageo PLC (DEO, DGE.LN) said it is overhauling its North
American marketing operations and putting more emphasis on consumer
research as it looks to reverse weak sales in its largest market.
The British-based liquor company has lost market share in the U.S.
as it struggles with brands like Smirnoff and Captain Morgan. ADRs
fell $1.05 to $114.35.
The ADRs of NetEase Inc. (NTES, K3MD.SG) rose 2.2% to $153.34 a
day after the Chinese gaming and Internet giant reported a sharply
higher third-quarter profit. Revenue more than doubled, bolstered
by game releases.
ADRs of Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR) fell
3.1% to $4.71 after Brazil's state-run oil firm reported a
third-quarter net loss of 3.76 billion reais ($997 million),
compared with a loss of 5.3 billion reais a year earlier, after a
sharp fall in the Brazilian currency and sustained low oil
prices.
Write to Tess Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 12, 2015 17:59 ET (22:59 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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