ADRs End Higher; ARM Holdings Soars

International stocks trading in New York closed higher on Monday.

ARM Holdings PLC (ARMH, ARM.LN) was among the companies with ADRs that traded actively.

The BNY Mellon index of American depositary receipts rose 0.61% to 126.31. The European index increased 0.45% to 122.30, the Asian index improved 0.71% to 136.54, the Latin American index rose 1.8% to 198.39 and the emerging markets index increased 1.3% to 245.36.

ADRs of ARM Holdings climbed 41% to $66.17 after the U.K.-based chip designer confirmed Monday that it agreed to a buyout offer valued at more than $32 billion from SoftBank Group Corp., marking a significant push for the Japanese telecommunications giant into the mobile internet.

The venture capital arm of Nokia Corp. (NOK, NOKIA.HE) led a funding round of $10 million in Swedish digital health startup Lifesum, a move increasing the Finnish telecom equipment-maker's presence in the rapidly growing connected health market. ADRs of Nokia fell 1.2% to $5.85.

Almost 400 union members working across eight Royal Dutch Shell PLC's (RDSA, RDSA.LN) oil and gas platforms in the U.K. North Sea have voted to strike July 26 in a dispute over pay cuts, Unite union said Monday. The members work for oil services company Wood Group PLC. Wood Group and Shell weren't immediately available to comment. Shell's ADRs fell 0.9% to $55.71.

Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) was set Monday to complete one of the largest bond deals of the year to help fund its purchase of Allergan PLC's (AGN) generics business, becoming the latest company to take advantage of attractive financing conditions with a massive debt offering. ADRs of the Israel-based pharmaceutical company rose 11 cents to $54.10.

Turkish stocks and bonds tumbled on Monday, reflecting investor uncertainty over how a failed coup attempt will affect the country's economy and politics. ADRs of the country's biggest mobile phone operator, Turkcell Iletisim Hizmetleri AS (TKC, TCELL.IS), fell 4.9% to $9.11.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

July 18, 2016 17:31 ET (21:31 GMT)

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