ADRs End Mostly Lower; BASF and Diageo Trade Actively

By Kathryn Hardison

International stocks trading in New York closed mostly lower on Tuesday.

The S&P/BNY Mellon index of American depositary receipts edged 0.03% lower to 154.18. The European index increased 0.2% to 147.23, the Asian index fell 0.4% to 182.62, the Latin American index increased 0.5% to 195.85 and the emerging markets index decreased 0.4% to 307.35.

BASF SE and Diageo PLC were among the stocks that traded actively.

ADRs of BASF declined 3.5% after the German chemicals giant said it expects to post a 2022 net loss after booking impairments worth 7.3 billion euros ($7.88 billion) from the deconsolidation of Russian activities following Moscow's invasion of Ukraine.

ADRs of Diageo gained 2.5% after the liquor maker said it has agreed to acquire Don Papa Rum, a dark rum from the Philippines, for a potential total consideration of up to EUR437.5 million.

ADRs of New Oriental Education & Technology Group Inc. slid 12% after the provider of private educational services in China said its second-quarter revenue declined 3% from the year prior.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

January 17, 2023 17:39 ET (22:39 GMT)

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