ADRs End Mostly Down; Tech and Oil Companies Trade Actively

Features Dow Jones Newswires

International stocks trading in New York closed mostly lower on Tuesday.

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The BNY Mellon index of American depositary receipts eased 0.23% to 140.33. The Asian index declined 0.83% to 158.45. The Latin American index decreased 0.78% to 214.99. And the emerging-markets index fell 1.2% to 285.73. Meanwhile, the European index improved 0.12% to 133.95.

Tech and oil companies were among those with ADRs that traded actively.

Oil prices surged Tuesday after reports of significant cyberattacks on global businesses, including a shipper and a Russian oil giant. As of Tuesday's closing, prices were up for four straight sessions, the longest winning streak in a month. Data from the American Petroleum Institute released after the market closed, however, showed an unexpected build in U.S. crude supply, the Journal reported. Among the big gainers Tuesday were Total SA (TOT, FP.FR), up 1.8% at $50.06; and Royal Dutch Shell PLC (RDSA, RDSA.LN), up 1.5% at $53.27.

Carnage in technology shares put the Nasdaq Composite on track for its first monthly decline in 2017. The Nasdaq Composite Index (XLK) closed off 1.6%, marking its worst daily decline since June 9, when tech suffered a 1.8% drop, MarketWatch reported. Among those with the widest losses were NetEase Inc. (NTES, K3MD.SG), down 2.9% to $311.50; JD.com (JD), down 5.6% to $40.69; Baidu Inc. (BIDU, K3SD.SG), down 1.6% to $175.60; and Weibo Corp. (WB), down 3.5% to $69.08.

Danish pharmaceutical company Novo Nordisk A/S (NVO, NOVO.B-KO) is betting that wider uptake of its products in China will offset price reductions required by the Chinese government. Regulators in the country are expected to decide soon whether to include two of Novo Nordisk's newer medications--Victoza, used to treat Type 2 diabetes, and NovoSeven, a hemophilia treatment--on the country's drug reimbursement list. The state-funded program reimburses Chinese patients part or all of the drug's price, depending on its classification. Both drugs are currently available for sale in China, but patients must pay in full for the medicines. ADRs closed down 2% at $43.50.

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Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

June 27, 2017 17:51 ET (21:51 GMT)