ADRs End Mostly Higher, Tencent and Sanofi Trade Actively

By Sabela Ojea

International stocks trading in New York closed mostly higher on Thursday.

The S&P/BNY Mellon index of American depositary receipts rose 0.5% to 145.83. The European index increased 0.1% to 141.50, the Asian index gained 1.5% to 170.19, the Latin American index slid 2% to 173.70 and the emerging markets index climbed 1.4% to 282.53.

Tencent Holdings Ltd.'s ADRs rallied 6.9% to $47.88 as analysts welcomed a fourth-quarter revenue turnaround and raised their targets on the technology company's stock.

Sanofi SA's ADRs rose 6% to $51.73 after the French pharmaceutical company and Regeneron Pharmaceuticals Inc. said their jointly developed drug Dupixent showed potential in treating chronic obstructive pulmonary disease in a late-stage trial.

ADRs of Valneva SE dropped 2.2% to $10.90 after the German biotech company reported a wider net loss in 2022 and predicted lower revenue for 2023.

Write to Sabela Ojea at [e-mail]; @sabelaojeaguix

(END) Dow Jones Newswires

March 23, 2023 18:07 ET (22:07 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.