ADRs End Lower; CRH, Credit Suisse and EDAP Trade Actively

International stocks trading in New York closed lower on Thursday.

The BNY Mellon index of American depositary receipts fell 1.2% to 127.36. The European index fell 0.6% to 118.10. The Asian index decreased 2.5% to 145.77. The Latin American index fell 0.1% to 235.68. And the emerging-markets index decreased 2.2% to 272.81.

CRH PLC (CRH), Credit Suisse Group AG (CS) and EDAP TMS SA (EDAP) were among those with ADRs that traded actively.

Declining earnings from Cargill's food ingredients and financial operations pushed the agricultural conglomerate's second-quarter profits 20% lower. Record low ethanol prices in North America weighed on Cargill's sweetener and starches operations while costs climbed for its cocoa business, and broad weakness in financial markets hit the company's fund investments. For the quarter ended Nov. 30, Cargill earned $741 million, as revenues fell 4% to $28 billion. ADRs of CRH fell 1.3% to $26.05.

Three Credit Suisse bankers were arrested in London for involvement in Mozambique debt deals, the U.S. Department of Justice said Thursday. Those follow the arrest of former Mozambique Finance Minister Manuel Chang in South Africa. The U.S. will seek extradition of the bankers and Chang, the DOJ said. An Privinvest executive who worked on debt deals was arrested in New York. The Wall Street Journal detailed in 2016 the connection between Mozambique, Credit Suisse, Privinvest and debt deals. ADRs of Credit Suisse fell 0.8% to $10.95.

EDAP shares were up Thursday as the company's sale of its focal therapy technology to a California medical facility marked its formal entry into the U.S. market. The John Wayne Cancer Institute at the Providence Saint John's Health Center in Santa Monica will offer focal therapy to patients with localized prostate cancer using EDAP's Focal One device, which uses ultrasound waves to target and ablate diseased tissue. Focal One received U.S. Food and Administration approval in June. ADRs of EDAP rose 17% to $2.19.

(END) Dow Jones Newswires

January 03, 2019 18:00 ET (23:00 GMT)

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