ADRs End Higher; Embraer Trades Actively

FeaturesDow Jones Newswires

International stocks trading in New York closed higher on Friday.

The BNY Mellon index of American depositary receipts increased 0.8% to 158.66. The European index improved 0.5% to 145.92. The Asian index rose 1.3% to 189.70. The Latin American index increased 0.9% to 262.17. And the emerging-markets index rose 1.3% to 343.47.

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Embraer SA (ERJ, EMBR3.BR) was among those with ADRs that traded actively.

Mexico's Cemex SAB (CX, CEMEX.MX) will pay a $25.4 million Colombian antitrust fine for alleged price-fixing, but will seek to have the sanction overturned in an administrative court. The Monterrey-based cement maker says the fine won't have a material impact on its operations or finances even if the appeal is unsuccessful. Cemex, Holcim Colombia and Cementos Argos were fined after authorities in the South American country said they deliberately abstained from competing on cement prices in the 2010-2012 period. Cemex's ADRs fell 0.8% to $7.89.

Boeing Co. is in talks with Embraer SA and Brazil's government on ways to address the government's concerns about the U.S. planemaker's potential takeover of its Brazilian rival, according to people familiar with the matter. Embraer's ADRs fell 4% to $25.76.

Novartis AG (NVS, NOVN.EB) should see a "sustained period" of double-digit growth in core earnings per share starting in 2018, Jefferies says. Cosentyx, a psoriasis treatment, and Entresto, a drug for heart failure, will continue to drive growth, with increasing contributions from Novartis's pipeline over time, Jefferies says, and the impact on growth from loss of exclusivity for certain drugs will be "more muted." ADRs rose 1% to $86.27.

(END) Dow Jones Newswires

January 05, 2018 18:01 ET (23:01 GMT)