ADRs End Lower; Connect Biopharma, Iberdrola Among Companies Actively Trading

By Kimberly Chin

International stocks trading in New York closed lower Wednesday. The S&P/BNY Mellon index of American depositary receipts fell 1.3% to 160.49. The European index tumbled 1% to 146.22. The Asian index declined 1.8% to 208.99. The Latin American index decreased 1.6% to 175.76. And the emerging-markets index fell 2.2% to 338.06.

Connect Biopharma Holdings Ltd.'s ADRs tumbled 12% Wednesday after the company said it saw positive data from its Phase 2b clinical trial of CBP-201 administered subcutaneously to adult patients with moderate-to-severe atopic dermatitis. The company said the topline results showed that all three CBP-201 arms met the primary endpoint of eczema area and severity index percent reduction from baseline at week 16 and were statistically superior to placebo.

Iberdrola SA's ADRs slipped 1% after the company said Wednesday that it will issue an interim dividend of at least 16.8 European cents (19 U.S. cents) a share for 2021 and raise more than 1.10 billion euros ($1.24 billion) in a capital increase.

ADRs of Repsol SA rose 1.2% after the company said it has acquired shale oil and gas assets from driller Rockdale Marcellus for $222 million under a bankruptcy sale process.

Write to Kimberly Chin at [e-mail]

(END) Dow Jones Newswires

01-05-22 1846ET