ADRs End Mostly Higher, Weir Group and Weibo Trade Actively

By Kathryn Hardison

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

The S&P/BNY Mellon index of American depositary receipts rose 0.8% to 149.54. The European index increased 0.3% to 145.49, the Asian index rose 1.3% to 172.34, the Latin American index gained 2% to 190.43 and the emerging markets index was up 1.8% to 287.29.

Weir Group PLC and Weibo Corp. were among the companies with ADRs that traded actively.

ADRs of Weir Group gained 6.6% after the U.K. engineering company said 2022 pretax profit rose, beating consensus, on higher revenue driven by strong order activity.

ADRs of Weibo dropped 7.5% after the Chinese social-media giant said revenue fell 27% in the recent quarter, dragged down by lower revenue from its main advertising and marketing business. Still, net profit rose 23% as cost-saving efforts boosted profitability.

ADRs of German conglomerate Siemens AG gained 1.4% after the company said it will set up a new company to house its motors and large-drives businesses as it looks to cash in on growing demand for more efficient electrification and energy consumption.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

March 01, 2023 17:54 ET (22:54 GMT)

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