ADRs Fall Wednesday, Vale and GW Pharmaceuticals Trade Actively

   By Allison Prang 
 

International stocks trading in New York closed mostly lower Wednesday.

Vale S.A. (VALE) and GW Pharmaceuticals PLC (GWPH) were among the companies with ADRs that traded actively.

The S&P/BNY Mellon index of American depositary receipts fell 0.1% to 143.75. The European index decreased less than 0.1% to 132.03, the Asian index improved 0.1% to 172.89, the Latin American index fell 1.7% to 231.87 and the emerging markets index decreased 0.2% to 312.95.

Vale's ADRs fell 1.7% to $12.17. Brazil's National Mining Agency said in a report released this week the company withheld information about dam problems. Had that information been shared, the regulator said, the dam could have been prevented from collapsing. The dam in question killed 270 people earlier this year when it collapsed. Authorities are investigating Vale's former chief executive's response to an email company leaders received saying some of Vale's dams were "at their limit."

ADRs of GW Pharmaceuticals fell 17% to $111.76. The company reported third-quarter financial results Tuesday and beat estimates from analysts for revenue and earnings but Stifel and JPMorgan cut the company's price targets.

Write to Allison Prang at [e-mail]

(END) Dow Jones Newswires

November 06, 2019 19:02 ET (00:02 GMT)

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