ADRs End Higher; GW Pharmaceuticals, Infosys and ArcelorMittal Trade Actively
13 Avril 2018 - 1:20AM
Dow Jones News
International stocks trading in New York closed higher on
Thursday.
The BNY Mellon index of American depositary receipts rose 0.3%
to 153.86. The European index increased 0.4% to 141.72. The Asian
index went up 0.2% to 180.98. The Latin American index fell 0.4% to
269.99, and the emerging-markets index rose 0.2% to 336.36.
GW Pharmaceuticals (GWPH), Infosys Ltd. (INFY) and ArcelorMittal
SA (MT) were among those with ADRs that traded actively.
Next week brings a key test for what could become the first
approved prescription drug derived from the cannabis plant in the
U.S. The FDA has scheduled an advisory committee meeting April 19
to consider GW Pharmaceuticals' application to market cannabidiol
oral solution, or Epidiolex, to treat seizures associated with two
rare forms of epilepsy. The drug includes a component of the
cannabis plant known as a cannabinoid, but not THC, the part of
marijuana that provides a high. If it is approved, analysts predict
annual sales growing to $1.6 billion in 2022, according to EP
Vantage. But expect the FDA committee to scrutinize the drug's
safety since children account for most of the targeted patient
population. ADRs of GW Pharmaceuticals rose 3.4% to $122.51.
Tech firms are leading the Sensex higher ahead of the start of
earnings season Friday with Infosys. Ambit Capital remains positive
on Indian IT, predicting the sector will be the biggest beneficiary
of U.S. tax reform as that should help boost IT spending there.
Ambit expects Infosys to forecast 7%-9% revenue growth for the new
fiscal year; the past year's increase is seen having been 6%.
Infosys and Tata Consultancy are both up some 3%, adding to their
double-digit gains for the year. ADRs of Infosys rose 3.8% to
$18.01.
ArcelorMittal said Thursday that it will propose to shareholders
that it changes the currency of its share capital to U.S. dollars
from euros. The steelmaker said the change would simplify the
company's reporting process, given that it prepares its
consolidated financial information in dollars and its parent uses
it as its functional currency. ArcelorMittal will hold a vote on
the proposal at its extraordinary general meeting on May 16. ADRs
of ArcelorMittal were up 1.3% to $32.27.
(END) Dow Jones Newswires
April 12, 2018 19:05 ET (23:05 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
ArcelorMittal (EU:MT)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
ArcelorMittal (EU:MT)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024
