ADRs End Higher, Ryanair and ReneSola 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 2.2% to 145.40. The European index increased 1.3% to 140.25, the Asian index rose 3.8% to 170.73, the Latin American index increased 1.7% to 175.59 and the emerging markets index increased 4.6% to 284.64.

Ryanair Holdings PLC and ReneSola Ltd. were among the companies with ADRs that traded actively.

ADRs of Ryanair increased 10% after the Irish low-cost carrier raised its fiscal 2023 guidance after stronger-than-expected traffic over the holidays. The company said it expects pre-exceptional profit after tax for the year ending March 31 to be in the 1.325 billion euros to 1.425 billion euros range ($1.41 billion to $1.51 billion). This compares with the previous guidance range of 1 billion euros to 1.2 billion euros.

ADRs of ReneSola increased 7.6% after the solar project developer said it has entered into a securities repurchase agreement with ReneSola Singapore Pte. Ltd. to buy back 3 million ADSs at a price of $4.40 per ADS, totaling $13.2 million.

ADRs of Iberdrola SA rose 1% after the Spanish utility company said it will increase its capital by a maximum market value of 1.17 billion euros ($1.24 billion) through the issuance of up to 106 million new shares.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

01-04-23 1759ET