ADRs End Lower; DBV Technologies Trades Actively

International stocks trading in New York closed lower on Monday.

The BNY Mellon index of American depositary receipts fell 0.5% to 149.81. The European index slipped 0.3% to 139.57. The Asian index decreased 0.6% to 174.25. The emerging-markets index declined 0.9% to 322.64. The Latin American index declined 1.4% to 251.89.

DBV Technologies SA (DBVT) was among those with ADRs that traded actively.

Recent cuts from analysts in DBV Technologies' target price weighed on the French biopharmaceutical firm in Monday trading. Barclays cut its target price to $30 a share from $58 a share, and Leerink Swann lowered its target price to $49 a share from $60 a share. The cuts follow the company's announcement on Friday that it fell short of goals in late-stage clinical trials for its peanut-allergy treatment for children. ADRs fell 41% to $28.32.

Pharmaceuticals company Novartis AG (NVS) is expected to report a rise in revenue and profit in its latest quarter as it depends on sales from its newest drugs to offset the revenue lost from old blockbusters that now face competition from cheaper generics. The company's report is due Tuesday morning. ADRs rose 0.2% to $85.91 ahead of the report.

Royal Philips NV (PHG) reported a decline in third-quarter net income, but the company maintained its full-year financial targets. The company reported 4% comparable sales growth in the quarter, led by its connected care and health informatics business. ADRs rose 0.9% to $41.96.

(END) Dow Jones Newswires

October 23, 2017 18:59 ET (22:59 GMT)

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