ADRs End Mostly Higher, Airbus and Novartis Trade Actively

By Kathryn Hardison

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

The S&P/BNY Mellon index of American depositary receipts rose 0.7% to 155.76. The European index increased 0.2% to 147.32, the Asian index rose 1.5% to 187.29, the Latin American index fell 0.7% to 198.52 and the emerging markets index increased 1.4% to 314.32.

ADRs of Airbus SE and Novartis AG were among the companies with ADRs that traded actively.

ADRs of Airbus increased 2.1% after it agreed to revive orders for close to 75 aircraft from Qatar Airways after reaching a settlement with the airline over a dispute about chipping paint on its A350 widebody models.

ADRs of Novartis fell 2.6% after the Swiss pharma major posted lower sales and profit as it took a hit from generic medicines competition and higher restructuring costs.

ADRs of Vodafone Group PLC declined 1.4% after the U.K.-based telecommunications company said third-quarter revenue fell slightly and that it is on track to meet its updated fiscal 2023 guidance.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

February 01, 2023 17:19 ET (22:19 GMT)

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