ADRs End Lower; JD.com, Vodafone Trade Actively

   By Aisha Al-Muslim 
 

International stocks trading in New York closed lower on Tuesday.

The BNY Mellon index of American depositary receipts fell 0.5% to 148.33. The European index decreased 0.04% to 137.49. The Asian index dropped 0.8% to 176.80. The Latin American index declined 2.6% to 232.65. And the emerging-markets index declined 1.5% to 317.30.

JD.com Inc. (JD), Petroleo Brasileiro SA (PBR) and Vodafone Group PLC (VOD) were among those with ADRs that traded actively.

Sidney Huang, chief financial officer of Chinese online retailer JD.com (JD), said on a conference call with analysts Monday the company was trying to overcome an exodus of more than 100 general merchandise sellers that have left its platform for a competitor. The finance chief told analysts during the call "this is clearly by no coincidence." Analysts have noted that the exodus cut into growth in gross merchandise volume, a key sales measure for online retailers. ADRs fell 5.9% to $38.90.

Brazil's state-controlled oil producer Petrobras (PBR) lowered its outlook for asset sales the day after announcing a slim quarterly profit. The company's results were weighed down by interest on debt and provisions including tax amnesty programs and other fiscal disputes. Weak refining margins and lower production also contributed to results that fell below analyst expectations. ADRs fell 8.9% to $9.68.

U.K. telecom group Vodafone (VOD) said Tuesday it was raising its outlook for fiscal 2018, following a strong performance in the first half of the year. The world's second-largest mobile carrier by subscribers said in the six months ended Sept. 30 that it made a pretax profit of EUR2.16 billion ($2.52 billion), up 55% compared with the same period a year earlier. ADRs rose 5.7% to $30.48.

Write to Aisha Al-Muslim at [e-mail]

(END) Dow Jones Newswires

November 14, 2017 18:42 ET (23:42 GMT)

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