ADRs End Mostly Lower

Features Dow Jones Newswires

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

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Novartis AG (NVS) was among the companies with ADRs that traded actively.

The BNY Mellon index of American depositary receipts edged 0.1% lower to 144.22; the European index decreased 0.3% to 133.80; the Asian index improved 0.4% to 168.11; and the Latin American index fell 0.4% to 133.80.

Meanwhile, the emerging-markets index increased 0.5% to 315.99.

Novartis AG's ADRs fell 1.1% to $82.74 after the Swiss pharmaceuticals giant priced its newly approved cancer treatment significantly below expectations. The treatment, called CLT019 but re-christened by Novartis after gaining Food and Drug Administration approval as Kymriah, has been shown to dramatically raise the chances of survival for children and young people with an aggressive form of leukemia who don't respond to standard treatment.

ADRs of India-based Infosys Ltd. (INFY) fell 1.4% to $15.05 amid media speculation over the company's next chief executive.

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A stronger yuan helped offset some of the pressure of falling passenger yields on Chinese airlines during the first half of the year. ADRs in China Southern Airlines Co. (ZNH) rose 3.7% to $39.40, and ADRs in China Eastern Airlines Co. (CEA) rose 3.2% to $28.09.

Mazor Robotics Ltd.'s (MZOR) ADRs surged 13% to $47.41 as the Israeli surgical-technology company said it received a $40 million investment from Medtronic PLC earlier than expected.

(END) Dow Jones Newswires

August 30, 2017 18:34 ET (22:34 GMT)