ADRs End Lower, Ericsson Trades Actively

By Kathryn Hardison

International stocks trading in New York closed lower on Thursday.

The S&P/BNY Mellon index of American depositary receipts fell 2.2% to 141.20. The European index decreased 2.1% to 137.78, the Asian index fell 2.6% to 162.34, the Latin American index dropped 1.1% to 173.97 and the emerging markets index declined 2.6% to 271.38.

Ericsson AB and TotalEnergies SE were among the companies with ADRs that traded actively.

ADRs of Ericsson fell 6.4% after the Swedish telecommunications-equipment company said its Russian subsidiary has entered into an agreement to divest its local customer support business in Russia. Ericsson also said it expects to reach the lower end of its target for earnings before interest, tax and amortization margin of 15% to 18% by 2024.

ADRs of TotalEnergies fell 0.5% after the French oil-and-gas major said it made a final investment decision with Saudi Arabian Oil Co. for the construction of a petrochemical facility in Saudi Arabia. TotalEnergies said the project represents an investment of around $11 billion, of which $4 billion will be funded through equity by the two companies.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

December 15, 2022 17:48 ET (22:48 GMT)

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