ADRs End Mostly Higher; Ericsson Trades Actively

International stocks trading in New York closed mostly higher on Monday.

The BNY Mellon index of American depositary receipts edged up 0.1% to 149.18. The European index improved 0.1% to 139.05. The Asian index improved 0.4% to 173.01. And the emerging-markets index increased 0.1% to 322.96.

Meanwhile, the Latin American index fell 1.2% to 253.19.

Ericsson AB (ERIC) was among those with ADRs that traded actively.

Ericsson's proposal to appoint Ronnie Leten as chairman, as well as the company's recent partnerships and investments into 5G, are positive steps, according to Gary Paulin, head of global equities for Northern Trust Capital Markets. Having successfully ran a large organisation like Atlas Copco, Mr. Leten's appointment to Ericsson is likely to be taken positively by markets, notwithstanding the many challenges Ericsson still face, Mr. Paulin adds. However, he cautions that another profit warning is possible and there is a "monumental" amount of work to do to release them from their past. ADRs rose 2.8% to $5.89.

UK medical technology business Smith & Nephew PLC (SNN, SN.LN) said Monday that Chief Executive Olivier Bohuon is to retire by the end of 2018. Mr. Bohuon, 58 years old, is retiring after seven years in the post. The board is searching for a successor. ADRs closed down 1.3% at $36.14.

Unilever PLC (UL, ULVR.LN) pulled an online video ad for its blockbuster brand Dove and apologized after critics called the spot racist. The video, which recently appeared on Dove's U.S. Facebook page, showed a young black woman taking off a T-shirt and then morphing into a white woman, who in turn takes off her T-shirt, and turns into an Asian woman. It quickly attracted criticism on Facebook and Twitter over the weekend -- users accused the treatment of being racist and insensitive -- culminating in Unilever's decision to take the ad down. "The short video was intended to convey that Dove body wash is for every woman and be a celebration of diversity, but we got it wrong," said a Unilever spokeswoman Monday. "We apologize deeply and sincerely for the offense that it has caused and do not condone any activity or imagery that insults any audience." ADRs closed up 0.2% at $57.08.

(END) Dow Jones Newswires

October 09, 2017 18:05 ET (22:05 GMT)

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