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ADRs Close Higher; Oil Companies Rally

09/27/2021 | 06:09pm EDT

International stocks trading in New York closed higher on Monday.

The S&P/BNY Mellon index of American depositary receipts increased 0.7% to 163.73. The European index edged up 0.3% to 143.91. The Asian index rose 1.1% to 222.60. The Latin American increased 0.7% to 190.68. And the emerging-markets index rose 1.1% to 361.90.

Oil companies were among the companies whose ADRs traded actively.

West Virginia Gov. Jim Justice has offered a $300 million payment and half the value of his family coal businesses to settle loans from the now-defunct Greensill Capital, according to people familiar with the deliberations. The proposal is part of talks between the governor's family business, Bluestone Resources Inc., and Credit Suisse Group AG, which manages investment funds that were Greensill's main source of cash for its lending business. Credit Suisse's ADRs rose 2.8% to $10.16.

JinkoSolar Holding Co. is investing $500 million to build a monocrystalline ingot and wafer factory in Vietnam as it seeks to ensure the stability of its global supply chain. The facility is expected to be operational in the first quarter of 2022. ADRs rose 4% to $44.04.

Oil stocks rallied on the back of rising crude prices. BP PLC gained 3.2% to $27.08; Eni Spa rose 2.1% to $26.25; Royal Dutch Shell PLC's Class B ADRs rose 5.2% to $43.83; and TotalEnergies SE rose 3.1% to $48.04.

-30-

(MORE TO FOLLOW) Dow Jones Newswires

09-27-21 2009ET

Stocks mentioned in the article
ChangeLast1st jan.
BP PLC 0.32% 363.1 Delayed Quote.42.05%
LONDON BRENT OIL 0.79% 85.86 Delayed Quote.62.71%
WTI 1.34% 83.643 Delayed Quote.71.11%
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