ADRs End Higher; America Movil, AstraZeneca and Shire Trade Actively

International stocks trading in New York closed higher on Thursday.

The BNY Mellon index of American depositary receipts rose 0.7% to 156.18. The European index increased 0.6% to 141.88. The Asian index rose 0.9% to 188.10. The Latin American index increased 0.8% to 276.84, and the emerging-markets index rose 1% to 347.11.

America Movil SAB de CV (AMX), AstraZeneca PLC (AZN) and Shire PLC (SHPG) were among those with ADRs that traded actively.

Analysts looked past Mexico-based telecom giant America Movil's $606 million fourth-quarter net loss--largely on foreign exchange--to improving profitability reflected in a 6.8% increase in Ebitda. "Underlying fundamental trends appear to be moving in the right direction in America Movil's largest profit-generating regions," said Barclays. ADRs of America Movil rose 3.6% to $19.37.

U.K.-based AstraZeneca said Thursday that the U.S. Food and Drug Administration has granted orphan drug designation for Selumetinib, a drug used to treat incurable genetic condition Neurofibromatosis Type 1. The pharmaceutical company said a U.S. National Cancer Institute-sponsored Phase I and II trial is exploring the use of Selumetinib to treat NF1 in pediatric patients. Phase II trial results are expected later in 2018, AstraZeneca said. ADRs of AstraZeneca rose 1.6% to $34.02.

Investors have been too negative on Ireland-based Shire's acquisition of hemophilia treatment business Baxalta in 2016, said Credit Suisse. Baxalta was a business with high manufacturing costs and one where demand for its leading products was forecast to decrease under pressure from competitors. However, Shire's latest results show that revenue from Baxalta products is rising. Its hemophilia line has grown 3%, while its immunoglobulin therapies product expanded 18%--a result driven both by an expansion in the underlying market, as well as Shire making the most of a portfolio that wasn't being optimized previously, says Credit Suisse. ADRs of Shire rose 1.8% to $135.30.

(END) Dow Jones Newswires

February 15, 2018 18:47 ET (23:47 GMT)

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