ADRs End Mostly Lower, Naspers and Merck Trade Actively

By Kathryn Hardison

International stocks trading in New York closed mostly lower on Monday.

The S&P/BNY Mellon index of American depositary receipts fell 0.9% to 136.62. The European index decreased 0.5% to 132.60, the Asian index fell 2% to 155.91, the Latin American index increased 1.3% to 184.89 and the emerging markets index decreased 1.7% to 266.08.

Naspers Ltd. and Merck KGaA were among the companies with ADRs that traded actively.

ADRs of Naspers fell 3.5% after the South African company said it expects earnings per share to drop in the first half of fiscal 2023 because of macroeconomic pressures and lower profits.

ADRs of Merck fell 1.5% after the German healthcare and technology company said more than 50% of future product launches will result from co-development partnerships with external companies and in-licensing of assets. The company plans to introduce one new product every one and a half years as it looks to boost research and development in oncology, neurology and immunology.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

November 21, 2022 19:03 ET (00:03 GMT)

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