ADRs End Lower; Adidas, Shell Trade Actively

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by Katherine Hardison

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International stock trading in New York closed lower on Thursday.

The S&P/BNY Mellon Index for US Depository Receipts fell 0.9% to 131.10. The European index fell 0.8% to 122.82, the Asian index fell 0.9% to 158.16, the Latin American index fell 1.7% to 181.92 and the emerging market index declined 1.3% to 273.75.

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Adidas AG and Shell plc were among the companies with ADRs that actively traded.

Adidas’s ADR dropped 4.3% after Kanye West said he was ending his partnership with Gap Inc. Follow up on complaints. Mr West has criticized Adidas for months, with charges ranging from stealing their designs from their Yeezy brand to not meeting their contractual obligations. Adidas and Mr. West have a 10-year deal.

Shell’s ADRs fell 2.1% after Wel Savannah was appointed as its next chief executive, replacing longtime CEO Ben van Burden. The Energy Group also signed a Memorandum of Understanding with Siemens AG to advance low-carbon energy solutions.

Ryanair Holdings plc’s ADR rose 1.4% after the Irish low-cost carrier said proposals to re-elect directors were passed by Michael Cawley and Howard Miller at its annual general meeting.

Write to Katherine Hardison at [email protected]

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