ADRs End Higher, Compagnie Financiere Richemont SA and Ubisoft Entertainment Trade Actively
September 07 2022 - 5:40PM
Dow Jones News
By Kathryn Hardison
International stocks trading in New York closed higher
Wednesday.
The S&P/BNY Mellon index of American depositary receipts
rose 0.4% to 131.15. The European index was 0.3% higher at 122.37,
the Asian index rose 0.4% to 158.87, the Latin American index
increased 1% to 183.54 and the emerging markets index rose 1.2% to
276.47.
Compagnie Financiere Richemont SA and Ubisoft Entertainment SA
were among the companies with ADRs that traded actively.
ADRs of Compagnie Financiere Richemont rose 2.3% after
shareholders elected Wendy Luhabe, an incumbent nonexecutive
director, to the board, rejecting a board candidate proposed by an
activist investor.
ADRs of Ubisoft dropped 20% after Chinese internet giant Tencent
Holdings Ltd. said it would increase its stake in Ubisoft, which
blocks the prospects of a full takeover. ADRs of Tencent rose
1.5%.
ADRs of Cineworld, which owns Regal Cinemas, fell 1.7% after the
company filed for bankruptcy as it struggles to rebuild
movie-theater attendance after the pandemic.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
September 07, 2022 18:25 ET (22:25 GMT)
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