ADRs Move Up Broadly; Rio Tinto Shares Rise As Miner Names Next CEO

By Micah Maidenberg

The S&P/BNY Mellon of American depositary receipts gained 0.7% Thursday to 155.98. The indices for European, Asian and Latin American companies with ADRs all rose 0.7% for the day, to 127.72, 228.05 and 200.21, respectively. Meanwhile, the emerging-markets ADR index rose 0.8% to 407.98.

ADRs for Nokia Oyj were up 1.8% to $4.06 each on active trading. The telecommunications-equipment company said Thursday that it had appointed Nishant Batra as its new chief strategy and technology officer. He will begin the job on Jan. 18, leaving his current position at automotive technology firm Veoneer. Mr. Batra will report to Nokia Chief Executive Pekka Lundmark and eventually will work from the U.S.

Rio Tinto PLC's ADRs gained 0.9% to $76.60 after the mining firm said finance chief Jakob Stausholm will take over its CEO job on Jan. 1, replacing Jean-Sébastien Jacques. The company has faced pressure from shareholders, government officials and indigenous groups after it destroyed two ancient rock shelters that were located on land in Australia traditionally owned by indigenous groups.

Write to Micah Maidenberg at [e-mail]

(END) Dow Jones Newswires

December 17, 2020 17:22 ET (22:22 GMT)

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