ADRs End Slightly Lower; BHP Billiton, Fresenius and Royal Philips Trade Actively

International stocks trading in New York closed slightly lower on Monday.

The BNY Mellon index of American depositary receipts fell 0.3% to 152.80. The European index decreased 0.04% to 141.32. The Asian index went down 0.4% to 178.38. The Latin American index fell 1.3% to 267.36. And the emerging-markets index dropped 1% to 329.37.

BHP Billiton PLC (BBL), Fresenius Medical Care AG & Co. KGaA (FMS) and Royal Philips NV (PHG) were among those with ADRs that traded actively.

BHP Billiton said Monday that Brazil's federal court has approved an additional 66 days for the completion of negotiations regarding the public civil claims settlement related to the Samarco dam failure in 2015. The mining giant said Samarco Mineracao S.A, Vale S.A. (VALE), BHP Billiton Brasil Ltda. and Brazil's federal prosecutors will now have until June 25 to conduct discussions concerning the settlement. BHP Billiton said that until June 25, the interim security arrangements and the current suspension of legal proceedings will remain in place. ADRs of BHP Billiton fell 0.9% to $42.35.

Fresenius said Sunday that its net profit for the period was 279 million euros ($342.7 million), down 10% from last year but unchanged at constant currency. Revenue was also down 10% on a reported basis at 3.98 billion euros, but rose 2% at constant currency. The German medical company said it expects revenue growth of between 5% and 7% at constant currency in 2018, down from a previous target of 8% due to a recent reduction in dosing of calcimimetic drugs. ADRs of Fresenius fell 5.5% to $49.17.

Koninklijke Philips said Monday that first-quarter net income from continuing operations decreased 27% after booking restructuring, acquisition and bond-redemption charges and backed its outlook for 2017-20. The Dutch technology company said that net income from continuing operations for the quarter ended March 31 fell to 94 million euros ($115 million), compared with EUR128 million the previous year, on sales that fell to EUR3.9 billion euros, from EUR4.04 billion. Comparable sales increased by 5%, it said. Philips said it backed its target for the 2017-20 of 4%-6% comparable sales growth. ADRs of Philips rose 4.3% to $42.34.

(END) Dow Jones Newswires

April 23, 2018 18:08 ET (22:08 GMT)

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