ADRs End Lower; JD.com, Vodafone Trade Actively
November 14 2017 - 6:57PM
Dow Jones News
By Aisha Al-Muslim
International stocks trading in New York closed lower on
Tuesday.
The BNY Mellon index of American depositary receipts fell 0.5%
to 148.33. The European index decreased 0.04% to 137.49. The Asian
index dropped 0.8% to 176.80. The Latin American index declined
2.6% to 232.65. And the emerging-markets index declined 1.5% to
317.30.
JD.com Inc. (JD), Petroleo Brasileiro SA (PBR) and Vodafone
Group PLC (VOD) were among those with ADRs that traded
actively.
Sidney Huang, chief financial officer of Chinese online retailer
JD.com (JD), said on a conference call with analysts Monday the
company was trying to overcome an exodus of more than 100 general
merchandise sellers that have left its platform for a competitor.
The finance chief told analysts during the call "this is clearly by
no coincidence." Analysts have noted that the exodus cut into
growth in gross merchandise volume, a key sales measure for online
retailers. ADRs fell 5.9% to $38.90.
Brazil's state-controlled oil producer Petrobras (PBR) lowered
its outlook for asset sales the day after announcing a slim
quarterly profit. The company's results were weighed down by
interest on debt and provisions including tax amnesty programs and
other fiscal disputes. Weak refining margins and lower production
also contributed to results that fell below analyst expectations.
ADRs fell 8.9% to $9.68.
U.K. telecom group Vodafone (VOD) said Tuesday it was raising
its outlook for fiscal 2018, following a strong performance in the
first half of the year. The world's second-largest mobile carrier
by subscribers said in the six months ended Sept. 30 that it made a
pretax profit of EUR2.16 billion ($2.52 billion), up 55% compared
with the same period a year earlier. ADRs rose 5.7% to $30.48.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
November 14, 2017 18:42 ET (23:42 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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