ADRs End Lower, Melco Resorts and Shell Trade Actively

By Kathryn Hardison

International stocks trading in New York closed lower on Monday.

The S&P/BNY Mellon index of American depositary receipts fell 0.8% to 138.53. The European index decreased 0.9% to 134.98, the Asian index was down 0.6% at 158.06, the Latin American index declined 0.4% to 180.91 and the emerging markets index fell 0.4% to 264.88.

Melco Resorts & Entertainment Ltd. and Shell PLC were among the companies whose ADRs traded actively.

ADRs of Melco Resorts & Entertainment increased 9.9% after the casino operator won a provisional license to continue operating in Macau for the next 10 years.

ADRs of Shell fell 0.6% after the energy giant said its wholly owned subsidiary Shell Petroleum NV has agreed to buy Danish-based Nature Energy Biogas AS for 1.9 billion euros ($1.98 billion). The deal is expected to be completed in the first quarter of 2023.

ADRs of Braskem SA also fell 0.6% after the Brazilian chemical company said Roberto Bischoff will succeed Chief Executive Roberto Simoes on Jan. 1. Mr. Bischoff has held several management positions in Brazil's petrochemical industry and is currently CEO of Ocyan, an oil and gas company controlled by Novonor.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

11-28-22 1650ET