ADRs End Lower, Royal Philips and Nissan Motor Trade Actively

By Kathryn Hardison

International stocks trading in New York closed lower Monday.

The S&P/BNY Mellon index of American depositary receipts fell 0.9% to 153.96. The European index dropped 0.3% to 145.86, the Asian index fell 1.8% to 184.62, the Latin American index was 0.7% lower at 196.14 and the emerging markets index declined 1.9% to 309.36.

Royal Philips NV and Nissan Motor Co. were among the companies with ADRs that traded actively.

ADRs of Philips increased 5.9% after the Dutch health-technology company said it would cut an extra 6,000 jobs by 2025, including 3,000 this year, as part of its reorganization strategy.

ADRs of Nissan declined 1.1% after it and Renault SA agreed to reorganize their alliance, more than two decades old, in a deal that includes reducing Renault's stake in Nissan. Under the agreement, which requires approval from the two companies' boards, Renault will eventually reduce its 43% stake in Nissan to 15%, to match the stake Nissan holds in Renault.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

January 30, 2023 17:13 ET (22:13 GMT)

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