ADRs End Mostly Lower; ABB Rises
21 Julho 2016 - 07:39PM
Dow Jones News
Prices of international stocks trading in New York were mostly
lower on Thursday.
The BNY Mellon index of American depositary receipts edged down
0.2% to 125.82. The European index decreased 0.3% to 121.98, the
Asian index eased 0.09% to 135.76, the Latin American index fell
0.5% to 196.91 and the emerging markets index edged up 0.03% to
244.81.
ABB Ltd. (ABB, ABB.SK, ABBN.EB) was among the companies with
ADRs that traded actively. ABB said its second-quarter profit fell
31% due to restructuring expenses. The Swiss power- and
automated-equipment maker cited an uncertain global economic
outlook complicated by the U.K. decision to leave the European
Union. However, the Zurich-based company's profit exceeded analyst
expectations and its ADRs rose 2.3% to $20.70.
ADRs of ASML Holding NV (ASML, ASML.AE) fell 2.5% to $105.48
after UBS cut its rating on the Dutch semiconductor company to
neutral from buy. The bank said a rally in the company's stock,
which has climbed from a 52-week low in January, has been driven by
the introduction of Extreme Ultraviolet lithography into chips made
by the three major sector players - Intel, Samsung, and TSMC. ASML
is the world's largest provider of photolithography systems for the
chip sector. UBS said the implications for the industry are now
both better understood and priced in to sector stocks.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
July 21, 2016 18:24 ET (22:24 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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