ADRs End Higher; Infosys Falls

Features Dow Jones Newswires

International stocks trading in New York closed higher on Friday.

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The BNY Mellon index of American depositary receipts improved 0.25% to 142.97. The European index edged up 0.04% to 133. The Asian index improved 0.32% to 166.38. The Latin American index rose 1.8% to 241.34. And the emerging-markets index increased 0.78% to 308.57.

Infosys Ltd. (INFY, 500209.BY) was among those with ADRs that traded actively.

ADRs of Alibaba Group Holding Ltd. (BABA) rose 2.2% to $167.50 a day after the company reported fiscal first-quarter earnings nearly doubled from the year earlier as sales surged 56% to $7.4 billion, beating analysts' estimates.

Vishal Sikka resigned Friday as chief executive of Infosys, citing a resistance to change at the company that deteriorated into ugly accusations of impropriety at India's second-largest software and outsourcing company. The Bangalore-based company said Mr. Sikka had the support of the board but had been harassed into leaving by Infosys founder N.R. Narayana Murthy. Mr. Murthy said Friday that he has only been concerned about how the company he founded and left voluntarily in 2014 is managed, and hasn't been trying to get money or control out of Infosys. ADRs fell 7% to $14.79.

(END) Dow Jones Newswires

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August 18, 2017 17:21 ET (21:21 GMT)