ADRs End Higher; China Eastern Airlines, Siliconware Precision Trade Actively

By Aisha Al-Muslim Features Dow Jones Newswires

International stocks trading in New York closed higher on Friday.

Continue Reading Below

The BNY Mellon index of American depositary receipts rose 0.7% to 152.25. The European index increased 0.8% to 140.38. The Asian index improved 0.5% to 182.26. The Latin American index increased 0.2% to 245.48. And the emerging-markets index increased 0.5% to 331.18.

China Eastern Airlines Corp. (CEA), China Southern Airlines Co. (ZNH), Siliconware Precision Industries Co. Ltd. (SPIL), Advanced Semiconductor Engineering Inc. (ASX), and Telecom Italia SpA (TI) were among the companies with ADRs that traded actively.

A strengthening yuan is expected to give Chinese airlines' earnings a further boost the next two years, says investment bank Bocom. ADRs of China Eastern Airlines rose 0.6% to $31.55, while ADRs of China Southern Airlines rose 1.5% to $48.

Siliconware and Advanced Semiconductor have received all necessary antitrust clearances, clearing the way for a merger, the companies said Friday. The deal to create ASE Industrial Holding Co. is expected to be completed by the end of May. ADRs of Siliconware rose 5.3% to $8.36, while Advanced Semiconductor rose 12% to $7.07.

As speculation mounts surrounding a possible spinoff of Telecom Italia's fixed-line network, analysts at UBS see "indications that both the government and TI appear keen to start a process aimed at a structural separation of the network." Telecom Italia's management is focusing on digitalization, convergence and customer experience. ADRs rose 5.3% to $8.55.

Continue Reading Below

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

November 24, 2017 16:58 ET (21:58 GMT)