ADRs End Lower; Shire Edges Down

International stocks trading in New York closed lower on Monday.

Shire PLC (SHPG, SHP.LN) was among the companies with ADRs that traded actively.

The BNY Mellon index of American depositary receipts fell 1.7% to 115.94. The European index decreased 1.7% to 116.56, the Asian index dropped 1.6% to 124.32, the Latin American index fell 2.4% to 127.02 and the emerging markets index declined 1.2% to 194.85.

Shire's acquisition of Baxalta means revenue won't fall even after best-selling hyperactivity medicine Vyvanse loses exclusivity, according to analysts at Bernstein. The analysts said the growth of Baxalta's immunology business, combined with new drugs from Shire's own pipeline mean revenue will increase 1% every year between 2017 and 2025. In the event that new entrants significantly affect Baxalta's hemophilia business, revenue would decrease 1% annually in that period, the analysts said. Shire's ADRs declined by $1.46 to $180.81.

ArcelorMittal (MT, MT.FR), the world's largest steelmaker, has announced plans to idle its steel plant in Sestao, Spain for an indefinite period of time due to tumbling steel prices caused by a sudden influx of cheap steel imports from China and high electricity costs. ADRs fell three cents to $3.54.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

January 25, 2016 18:03 ET (23:03 GMT)

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