ADRs End Mostly Higher; Ericsson Trades Actively

Features Dow Jones Newswires

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

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The BNY Mellon index of American depositary receipts edged up 0.03% to 150.51. The European index improved 0.01% to 140.02. The Asian index increased 0.11% to 175.22, and the emerging-markets index improved 0.05% to 325.61.

Meanwhile, the Latin American index declined 0.11% to 255.35.

Ericsson (ERIC) was among those with ADRs that traded actively.

China Mobile Ltd. (CHL, 0941.HK, K3PD.SG), China's largest mobile carrier by subscribers, said net profit rose 4.6% in the first nine months of the year on strong demand for faster wireless services, despite intensifying competition. ADRs rose 1.7% to $51.03.

Telecommunications-equipment giant Ericsson reported another quarter of falling sales and widening losses as it struggles to compete with new Chinese players, but investors saw signs that a monthslong turnaround effort was starting to bear fruit. Gross margin in its core network business improved to 31% from 28% in the year-ago period, after adjusting for restructuring-related costs. ADRs rose 9% to $6.45.

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ADRs of InterContinental Hotels Group PLC (IHG, IHG.LN) fell 1.1% to $53.66 on Friday as the company reported a slowdown in growth in the Americas and Asia compared to the year-ago period. However, the company expects to meet full-year targets. ETX Capital's Neil Wilson said cancellations hit revenue, but the company seemed to have picked up business as people displaced by hurricanes sought temporary accommodations and relief workers needed places to stay.

(END) Dow Jones Newswires

October 20, 2017 19:04 ET (23:04 GMT)