ADRs End Mostly Higher; Alibaba, Teva Trade Actively

Features Dow Jones Newswires

International stocks trading in New York closed mostly higher Monday.

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The BNY Mellon index of American depositary receipts increased 0.31% to 147.02. The Asian index improved 0.9% to 169.86. The Latin American index increased 0.91% to 240.67. And the emerging-markets index rose 1.28% to 312.96.

Meanwhile, the European index eased 0.05% to 137.77.

Alibaba Group Holding Ltd. (BABA) and Teva Pharmaceutical Industries Ltd. among those with ADRs that traded actively.

Alibaba said it would team up with U.S. hotel company Marriott International Inc. to expand its online-travel footprint as more residents from China venture abroad. ADRs rose 3.6% to $158.84.

Fresenius Medical Care AG (FMS, FME.XE) said on Monday it would acquire NxStage Medical Inc. for around $2 billion to bolster its kidney-dialysis business. The German company, which is the world's largest provider of dialysis products and services, said it would acquire all outstanding shares of NxStage for $30 each. The deal has been approved by NxStage's board, but still requires approval by NxStage stockholders and regulators, Fresenius Medical Care said in a statement. ADRs closed down 0.67% at $46.14.

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ADRs of Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) fell 10% to $18.59 on Monday, after analysts at Morgan Stanley downgraded Teva to underweight and cut the price target on shares to $16 from $36. The latest analyst downgrade follows Teva's sluggish second-quarter earnings report and dividend cut last week.

(END) Dow Jones Newswires

August 07, 2017 18:02 ET (22:02 GMT)