ADRs End Higher; Volkswagen, Mercedes-Benz Trade Actively

By Kathryn Hardison

International stocks trading in New York closed higher on Tuesday.

The S&P/BNY Mellon index of American depositary receipts increased 0.6% to 137.66. The European index advanced 0.4% to 128.79, the Asian index increased 0.5% to 166.18, the Latin American index rose 3.3% to 191.77 and the emerging markets index increased 1.3% to 282.94.

Volkswagen AG and Mercedes-Benz Group AG were among the companies with ADRs that traded actively.

ADRs of Volkswagen increased 2.7% after the company and Mercedes-Benz agreed with the Canadian government to explore ways to source materials for their battery-supply chains as the companies focus on electric-vehicle production.

ADRs of Mercedes-Benz edged 1.7% higher. Mercedes-Benz and Rock Tech Lithium Inc. said in a separate announcement that Rock Tech is expected to deliver up to 10,000 tons of lithium hydroxide per year, starting in 2026, to the automaker and its battery suppliers.

ADRs of Ryanair Holdings PLC increased 2.6% after the company added 1 million seats to its winter schedule and raised its traffic outlook for the year to 166.5 million passengers from 165 million passengers.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

August 23, 2022 17:38 ET (21:38 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.