ADRs end lower; Ericsson and Trinity Biotech among actively trading companies

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By Kimberly Chin

International stocks traded in New York City closed lower on Friday.

The S & P / BNY Mellon index of US certificates of deposit fell 1.2% to 165.54.  The European index fell 1% to 140.34.  The Asian index fell 1.4% to 232.14.  The Latin American index fell 1.1% to 214.29.  And the emerging markets index fell 1.5% to 400.52.

Telefon AB LM Ericsson's ADRs fell 11% on Friday after the cellular equipment maker said revenues in China fell sharply in the last quarter. He also warned that it would likely lose market share there following Sweden's decision to ban rival Huawei Technologies Co. from the Scandinavian country's 5G wireless networks. Trinity Biotech PLC's ADRs rose 6.8% on Friday after the company released an update on its test product pipeline. Trinity said she was at an advanced stage of developing a SARS-CoV-2 antigen test. The test can be performed without any specialized equipment, provides a result in 12 minutes, and uses a previous nasal swab sample. Trinity also said it has developed a new product, TrinScreen HIV, specifically for the screening market. The company said it has been the main provider of confirmatory tests for the detection of the HIV virus in Africa for years. Over-the-counter Burberry Group PLC's ADRs fell 5.9% after the UK luxury goods company broadly maintained its full-year guidance and warned of some headwinds on foreign exchange. However, the company recorded a 26% increase in full-price comparable sales for the 13 weeks ended June 26 compared to the same period a year earlier, thanks to a 90% increase in retail sales of comparable stores compared to last year, as it benefited from a strong recovery after the coronavirus pandemic. DiDi Global Inc.'s ADRs fell 3.2% after China on Friday sent regulators, including state security and police officials, to Didi's ridesharing business as part of a cybersecurity investigation. Earlier this month, the country's internet regulator ordered Didi to undergo a cybersecurity review for national security concerns, days after the company raised $ 4.4 billion in an initial public offering in New York.
Write to Kimberly Chin at [email protected]



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