ADRs End Mostly Lower, Atlas Copco and BMW Trade Actively

By Kathryn Hardison

International stocks trading in New York closed mostly lower Wednesday.

The S&P/BNY Mellon index of American depositary receipts fell 1.2% to 121.11. The European index declined 0.7% to 116.58, the Asian index dropped 2.5% to 136.93, the Latin American index rose 0.4% to 186.53 and the emerging markets index decreased 2.3% to 239.81.

Atlas Copco AB and Bayerische Motoren Werke AG were among the companies with ADRs that traded actively.

ADRs of Atlas Copco fell 4.2% after the Swedish industrial tool maker said it expects near-term business activity to worsen on weaker demand. It also logged lower order intake in the recent quarter for vacuum equipment due to lower demand from the semiconductor industry.

ADRs of Bayerische Motoren Werke, or BMW, fell 0.9% after the German luxury car maker said it will invest $1.7 billion in its U.S. operations as it prepares to produce battery-electric vehicles.

ADRs of Nestle SA fell 2.3% after it said it has agreed to acquire the Seattle's Best Coffee brand from Starbucks Corp. on undisclosed terms. The company also reported an increase in sales for the first nine months of the year, driven by higher selling prices for its products.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

October 19, 2022 17:41 ET (21:41 GMT)

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