ADRs End Lower, Novo Nordisk and Atlas Copco Trade Actively

By Kathryn Hardison

International stocks trading in New York closed lower on Wednesday.

The S&P/BNY Mellon index of American depositary receipts fell 1.5% to 123.98. The European index decreased 1.5% to 121.93, the Asian index fell 1.3% to 135.92, the Latin American index dropped 3% to 185.64 and the emerging markets index decreased 1.7% to 234.02.

Novo Nordisk AS and Atlas Copco AB were among the companies with ADRs that traded actively.

ADRs of Novo Nordisk increased 7.4% after the Danish pharmaceutical company raised its full-year guidance and reported a third-quarter net profit that beat expectations. The company said it saw strong demand for its diabetes care and obesity treatments in the latest quarter. The company now expects full-year sales growth of 14% to 17%, up from its prior outlook of 12% to 16% growth.

ADRs of Atlas Copco fell 1.9% after the Swedish industrial tool maker said its Edwards subsidiary will build a manufacturing facility in western New York for dry vacuum pumps used to make semiconductors. The investment will be roughly $319 million over the next seven years.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

November 02, 2022 18:19 ET (22:19 GMT)

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