ADRs End Higher; Natuzzi, Lufthansa Actively Traded

By Kimberly Chin

International stocks trading in New York closed higher on Friday after some global markets rebounded following a tumultuous week marked by broad-based selloffs over fears of the coronavirus's effect on people and business.

The S&P/BNY Mellon index of American depositary receipts rose 5.4% to 112.54. The European index improved 5.2% to 99.45. The Asian index rose 4.9% to 149.72. The Latin American index climbed 12% to 146.90. And the emerging-markets index rose 6.1% to 265.26.

Natuzzi SpA and Deutsche Lufthansa AG were among the ADRs that traded most actively.

The American depositary receipts of Natuzzi rose 16% after the furniture company said it was taking a series of measures to mitigate the effects from the coronavirus outbreak including cutting expenses, deferring some investments and workforce-related actions.

Lufthansa's ADRs jumped 9.3% after the company said at least two thirds of its nearly 800 aircraft will stay on the ground starting in the coming days as the German flagship carrier grapples with falling bookings and travel bans due to the coronavirus pandemic. The company said Friday it was also weighing additional measures such as closing individual hubs.

Bayer AG's ADRs rose 4.9% on Friday. The company agreed to draft settlement terms with half a dozen law firms representing tens of thousands of plaintiffs alleging that the company's Roundup weedkiller causes cancer, The Wall Street Journal reported.

Write to Kimberly Chin at [e-mail]

(END) Dow Jones Newswires

March 13, 2020 20:30 ET (00:30 GMT)

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