ADRs Gain Ground; Banco Bilbao Shares Up 12.6% on PNC Deal News
November 16 2020 - 5:20PM
Dow Jones News
By Micah Maidenberg
The S&P/BNY Mellon index of American depositary receipts
rose 1.4% Monday to 147.84. The European index closed at 121.41,
1.3% higher. The emerging-markets and the Asian indices both rose
1.3%, closing at 386.79 and 218.71, respectively. The index for
Latin American ADRs increased 3% to 386.79.
The ADRs for Banco Bilbao Vizcaya Argentaria SA shot up 12.6% to
$4.21, as investors looked favorably on the Spanish bank's deal to
sell its U.S. operations to PNC Financial Services Group Inc. for
$11.6 billion.
ADRs tied to travel also gained ground Monday after Moderna said
its Covid-19 vaccine was 94.5% effective at protecting people from
the coronavirus. Brazilian airline Gol Linhas Aereas Inteligentes
SA's ADRs were up almost 9% to $7.90, while cruise operator
Carnival PLC's ADRs gained 9.7% to $15.75.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
November 16, 2020 17:05 ET (22:05 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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