ADRs End Higher, Compagnie Financiere Richemont SA and Ubisoft Entertainment Trade Actively

By Kathryn Hardison

International stocks trading in New York closed higher Wednesday.

The S&P/BNY Mellon index of American depositary receipts rose 0.4% to 131.15. The European index was 0.3% higher at 122.37, the Asian index rose 0.4% to 158.87, the Latin American index increased 1% to 183.54 and the emerging markets index rose 1.2% to 276.47.

Compagnie Financiere Richemont SA and Ubisoft Entertainment SA were among the companies with ADRs that traded actively.

ADRs of Compagnie Financiere Richemont rose 2.3% after shareholders elected Wendy Luhabe, an incumbent nonexecutive director, to the board, rejecting a board candidate proposed by an activist investor.

ADRs of Ubisoft dropped 20% after Chinese internet giant Tencent Holdings Ltd. said it would increase its stake in Ubisoft, which blocks the prospects of a full takeover. ADRs of Tencent rose 1.5%.

ADRs of Cineworld, which owns Regal Cinemas, fell 1.7% after the company filed for bankruptcy as it struggles to rebuild movie-theater attendance after the pandemic.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

September 07, 2022 18:25 ET (22:25 GMT)

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