ADRs End Mostly Lower; Pearson, Philips Trade Actively

By Kathryn Hardison

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

The S&P/BNY Mellon index of American depositary receipts fell 1.2% to 121.94. The European index increased 0.8% to 119.55, the Asian index fell 3.8% to 133.66, the Latin American index dropped 4.7% to 187.07 and the emerging markets index decreased 5.7% to 231.23.

Pearson PLC and Royal Philips NV were among the companies with ADRs that traded actively.

ADRs of Pearson rose 8.9% after the FTSE 100 education company said it has seen strong performance in the first nine months of the year. It also expects to meet the full-year adjusted operating profit market consensus of 426.2 million pounds ($481.8 million).

ADRs of Philips fell 1.4% after the Dutch health-technology company said it would reduce its workforce by around 4,000 roles globally after reporting a wider-than-expected swing to a net loss for the third quarter.

ADRs of Solvay SA rose 5% after the Belgian chemicals company raised its full-year outlook as it expects third-quarter results to be boosted by strong pricing and demand.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

October 24, 2022 17:10 ET (21:10 GMT)

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