ADRs End Mostly Higher
24 Agosto 2017 - 7:53PM
Dow Jones News
By Bowdeya Tweh and Maria Armental
International stocks trading in New York were mostly higher on
Thursday.
Gerdau SA (GGB, GGBR3.BR, GGBR4.BR) was among the companies with
ADRs that traded actively.
The BNY Mellon index of American depositary receipts edged 0.03%
higher to 144.27. The European index gained 0.10% to 133.65, the
Latin American index advanced 0.83% to 247.74 and the emerging
markets index rose 0.15% to 316.72.
Meanwhile, the Asian index fell 0.29% to 168.64.
Gerdau, one of the largest steelmakers in the Americas, said
Thursday its founding family will exit the group's executive
management after more than a century at its helm, as the company
fights allegations of tax fraud. The head of Brazil's operations,
Gustavo Werneck, will take over as chief executive in January,
succeeding Andre Gerdau Johannpeter, who will remain on the
steelmaker's board of directors, Gerdau said in a statement
Thursday. ADRs in Gerdau fell 0.3% to $3.64.
Cnooc Ltd. (CEO, 0883.HK) swung to a net profit of 16.25 billion
yuan (US$2.44 billion) in the first half from a net loss of CNY7.74
billion a year ago, partly on higher revenue from sales of oil and
gas. ADRs in Cnooc rose 4.1% to $120.67.
PetroChina Co. (PTR, 0857.HK) also reported a stronger profit in
the first half of the year. PetroChina's revenue rose 32% to
CNY975.91 billion on higher prices of crude oil, natural gas and
other products as well as an increase in sales volume. ADRs in
PetroChina rose 2.3% to $64.30.
Write to Bowdeya Tweh at Bowdeya.Tweh@wsj.com and Maria Armental
at Maria.Armental@wsj.com
(END) Dow Jones Newswires
August 24, 2017 18:38 ET (22:38 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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