ADRs End Mostly Lower, Naspers and Merck Trade Actively
22 November 2022 - 1:18AM
Dow Jones News
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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