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ADRs Finish Lower; RedHill Biopharma, Pandora Among Companies Actively Trading

09/14/2021 | 04:57pm EDT

By Kimberly Chin

International stocks trading in New York closed lower Tuesday. The S&P/BNY Mellon index of American depositary receipts fell 0.6% to 165.55. The European index slipped 0.3% to 144.38. The Asian index fell 0.9% to 226.12. The Latin American index decreased 0.6% to 201.15. And the emerging-markets index declined 1.3% to 376.25.

RedHill Biopharma Ltd. ADRs tumbled 32% after the company said a Covid-19 pneumonia study missed its primary objective. Efficacy data showed consistent trends in favor of the opaganib arm, but endpoints didn't achieve statistical significance, the company said.

ADRs of Pandora AS, which trade over the counter, jumped 6.6% on Tuesday after the Danish jeweler set new financial targets and increased its share-buyback program by 3 billion Danish kroner ($476.5 million) to DKK3.5 billion.

BP PLC's ADRs slipped 1.6% after the British company on Tuesday said Anja-Isabel Dotzenrath, the former CEO of RWE Renewables, would help lead its pivot away from fossil fuels and into low-carbon energy. She replaces longtime BP executive Dev Sanyal, who is leaving the company to take on a new role at a privately held refining company.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

09-14-21 1857ET

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