ADRs End Higher; Miners Trade Actively

FeaturesDow Jones Newswires

International stocks trading in New York closed higher on Monday.

The BNY Mellon index of American depositary receipts increased 0.4% to 150.40. The European index improved 0.4% to 140.02. The Asian index rose 0.6% to 177.30. The Latin American index improved 0.4% to 239.07, and the emerging-markets index rose 0.8% to 318.45.

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Miners were among those with ADRs that traded actively.

HSBC Holdings PLC (HSBC, HSBA.LN, 0005.HK) is to be released from an agreement with the Justice Department that let it avoid U.S. criminal charges in 2012, after it was judged to have sufficiently improved its systems to keep out financial criminals. The expiration of the five-year deferred prosecution agreement is a win for the bank and Chief Executive Stuart Gulliver, who had sought to have the case cleared before he retires in February. It also heralds the end of a contentious relationship between HSBC and an independent monitor installed at the bank as part of the settlement. ADRs rose 1.7% to $50.20.

Miners gain on Monday as copper prices recover following losses last week. On Friday, China reported that imports of copper concentrate reached a record high in November, metal trader Marex Spectron notes. Among the base-metal miners that gained are Rio Tinto PLC (RIO, RIO.LN), up 1.7% to $47.95, and BHP Billiton PLC (BBL, BLT.LN), up 1.9% to $36.64.

Nokia Corp. (NOK, NOKIA.HE) on Monday appointed company veteran Joerg Erlemeier as its chief operating officer, succeeding Monika Maurer, who is leaving to pursue new opportunities. Mr. Erlemeier has held several leadership roles at Nokia since joining in 1994, most recently serving as senior vice president of Nokia Transformation. His appointment is effective immediately. ADRs closed down 1.3% at $4.58.

(END) Dow Jones Newswires

December 11, 2017 17:35 ET (22:35 GMT)