ADRs End Lower, Vodafone and Iberdrola Trade Actively

By Kathryn Hardison

International stocks trading in New York closed lower on Wednesday.

The S&P/BNY Mellon index of American depositary receipts fell 2% to 127.32. The European index decreased 1.7% to 125.01. The Asian index fell 2.5% to 140.31. The Latin American index dropped 3.4% to 185.37 and the emerging markets index fell 2.7% to 242.03.

Vodafone Group PLC and Iberdrola SA were among the companies with ADRs that traded actively.

ADRs of Vodafone Group fell 3.6% after it said it agreed to form a new jointly owned company with Global Infrastructure Partners LLC and KKR & Co. that will own its 81.7% stake in Vantage Towers AG.

ADRs of Iberdrola rose 1.3% after the Spanish energy company unveiled details of its strategy for the 2023-25 period, including investment plans for power networks and renewable generation. It is targeting total investments of around 47 billion euros ($47.06 billion), 47% of which will be allocated in the U.S.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

11-09-22 1818ET