ADRs End Mostly Higher, Weir Group and Weibo Trade Actively
March 01 2023 - 6:09PM
Dow Jones News
By Kathryn Hardison
International stocks trading in New York closed mostly higher on
Wednesday.
The S&P/BNY Mellon index of American depositary receipts
rose 0.8% to 149.54. The European index increased 0.3% to 145.49,
the Asian index rose 1.3% to 172.34, the Latin American index
gained 2% to 190.43 and the emerging markets index was up 1.8% to
287.29.
Weir Group PLC and Weibo Corp. were among the companies with
ADRs that traded actively.
ADRs of Weir Group gained 6.6% after the U.K. engineering
company said 2022 pretax profit rose, beating consensus, on higher
revenue driven by strong order activity.
ADRs of Weibo dropped 7.5% after the Chinese social-media giant
said revenue fell 27% in the recent quarter, dragged down by lower
revenue from its main advertising and marketing business. Still,
net profit rose 23% as cost-saving efforts boosted
profitability.
ADRs of German conglomerate Siemens AG gained 1.4% after the
company said it will set up a new company to house its motors and
large-drives businesses as it looks to cash in on growing demand
for more efficient electrification and energy consumption.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
March 01, 2023 17:54 ET (22:54 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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