ADRs Mostly Rise In New York Trading; BP Jumps 15.6%
November 09 2020 - 5:42PM
Dow Jones News
By Micah Maidenberg
The S&P/BNY Mellon index of American depositary receipts
rose almost 2% Monday to 143.52. The European index closed at
116.23, 4% higher. The emerging-markets and the Asian indices
slipped 0.4% and 0.3%, respectively, closing at 383.08 and 215.85.
The index for Latin American ADRs, however, rose 5.2% to
160.13.
The ADRs for Anheuser-Busch InBev SA traded up 10.3% Monday as
investors absorbed the news that a vaccine developed by Pfizer and
partner BioNTech performed stronger than anticipated in protecting
patients from the coronavirus. Demand from bars, restaurants and
other outlets for the beer giant's drinks has been hampered this
year, and a vaccine could increase orders from that set of
customers should consumers return to drinking away from home more
often. Last month, Chief Executive Carlos Alves de Brito told
investors, "The environment remains very volatile and uncertain,
especially as we see now increased on-premise restrictions in
several markets like Europe."
Shares of BP PLC also surged Monday, in tandem with higher oil
prices, including U.S. crude for December delivery, which jumped
8.5% to $40.29 a barrel. Overall, BP's ADRs were up 15.6% to
$18.08.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
November 09, 2020 17:27 ET (22:27 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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