ADRs End Higher, Kerry Group and Caixabank Trade Actively

By Kathryn Hardison

International stocks trading in New York closed higher on Wednesday.

The S&P/BNY Mellon index of American depositary receipts rose 0.5% to 150.61. The European index increased 0.4% to 144.39, the Asian index rose 0.6% to 177.00, the Latin American index increased 1.7% to 193.36 and the emerging markets index increased 0.6% to 300.31.

Kerry Group PLC and Caixabank SA were among the companies with ADRs that traded actively.

ADRs of Kerry Group rose 2.4% after the Ireland-based food company said it has started talks to sell its sweet ingredients portfolio to Advent International Corp.'s portfolio company, IRCA, for 500 million euros ($536.7 million) as it focuses on the taste and nutrition business.

ADRs of Caixabank fell 2.2% after the Spanish bank said Chief Business Officer Juan Alcaraz will leave the company.

ADRs of Electrolux AB fell 0.7% after the Swedish home-appliance manufacturer said it swung to an operating loss in the fourth quarter, primarily driven by higher costs, weaker consumer demand and inventory reductions mainly in North America.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

01-11-23 1656ET