ADRs End Higher; GlaxoSmithKline Falls
December 03 2018 - 6:13PM
Dow Jones News
International stocks trading in New York closed higher on
Monday.
The BNY Mellon index of American depositary receipts rose 1.2%
to 137.64. The European index increased 0.9% to 127.20. The Asian
index rose 1.6% to 161.98. The Latin American index rose 1.1% to
235.17. And the emerging-markets index rose 1.6% to 295.92.
GlaxoSmithKline PLC was among those with ADRs that traded
actively.
GlaxoSmithKline PLC on Monday said it would buy cancer-focused
drug company Tesaro Inc. for about $4.16 billion, positioning the
health-care giant in a promising, but fiercely competitive, area of
medicine. ADRs fell 8% to $38.61.
Unilever PLC has agreed to buy malted-milk drink brand Horlicks
from GlaxoSmithKline PLC as part of a $3.75 billion deal that gives
the Anglo-Dutch giant exposure to India's fast-growing
nutritional-drinks market. The acquisition of GSK Consumer
Healthcare India will be Unilever's largest since 2011, when it
agreed to buy shampoo maker Alberto Culver for roughly the same
price. It marks a diversion from the company's strategy under
outgoing Chief Executive Paul Polman to pursue smaller deals.
Unilever ADRs closed 0.1% higher at $54.32.
Royal Dutch Shell PLC plans to set short-term carbon-emissions
targets and link them to executive pay, the company said Monday.
The decision, after months of investor pressure, marks a step
toward delivering on ambitious long-term climate goals by one of
the world's biggest oil companies, though details of Shell's exact
plans remain vague. Class B ADRs rose 3% to $63.86.
Oil notched its best day in more than five months on Monday,
bolstered by expectations for production cuts and a truce in the
trade dispute between the U.S. and China. Among the oil majors that
traded actively were BP PLC, which rose 2.1% to $41.19, and Total
SA, up 2.4% to $56.96.
(END) Dow Jones Newswires
December 03, 2018 17:58 ET (22:58 GMT)
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