ADRs End Lower, Deutsche Lufthansa and Bayer Trade Actively

By Kathryn Hardison

International stocks trading in New York closed lower Wednesday.

The S&P/BNY Mellon index of American depositary receipts fell 0.6% to 153.23. The European index declined 0.7% to 146.28, the Asian index dropped 0.5% to 181.70, the Latin American index declined 1% to 193.95 and the emerging markets index fell 0.8% to 305.01.

Deutsche Lufthansa AG and Bayer AG were among the companies with ADRs that traded actively.

ADRs of Deutsche Lufthansa increased 4.9% after the German carrier submitted an offer to the Italian government to secure a stake in ITA Airways.

ADRs of Bayer declined 1.6% after the pharmaceutical and biotechnology company said it agreed to acquire Blackford Analysis Ltd., a British developer of artificial intelligence imaging software. The move is expected to boost its radiology business.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

January 18, 2023 17:06 ET (22:06 GMT)

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