ADRs End Mostly Lower; ABB Rises

Prices of international stocks trading in New York were mostly lower on Thursday.

The BNY Mellon index of American depositary receipts edged down 0.2% to 125.82. The European index decreased 0.3% to 121.98, the Asian index eased 0.09% to 135.76, the Latin American index fell 0.5% to 196.91 and the emerging markets index edged up 0.03% to 244.81.

ABB Ltd. (ABB, ABB.SK, ABBN.EB) was among the companies with ADRs that traded actively. ABB said its second-quarter profit fell 31% due to restructuring expenses. The Swiss power- and automated-equipment maker cited an uncertain global economic outlook complicated by the U.K. decision to leave the European Union. However, the Zurich-based company's profit exceeded analyst expectations and its ADRs rose 2.3% to $20.70.

ADRs of ASML Holding NV (ASML, ASML.AE) fell 2.5% to $105.48 after UBS cut its rating on the Dutch semiconductor company to neutral from buy. The bank said a rally in the company's stock, which has climbed from a 52-week low in January, has been driven by the introduction of Extreme Ultraviolet lithography into chips made by the three major sector players - Intel, Samsung, and TSMC. ASML is the world's largest provider of photolithography systems for the chip sector. UBS said the implications for the industry are now both better understood and priced in to sector stocks.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

July 21, 2016 18:24 ET (22:24 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.