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ADRs Close Higher; AB InBev Falls

07/29/2021 | 03:27pm EDT

International stocks trading in New York closed higher on Thursday.

The S&P/BNY Mellon index of American depositary receipts rose 0.9% to 167.46. The European index gained 0.9% to 144.62. The Asian index rose 0.9% to 228.64. The Latin American index improved 0.6% to 220.89. And the emerging-markets index increased 0.8% to 390.22.

Anheuser-Busch InBev SA was among the companies whose ADRs traded actively.

Budweiser brewer Anheuser-Busch InBev SA reported second-quarter sales rose to $13.54 billion -- back to pre-pandemic levels -- as consumers returned to bars across the Americas and Europe. However, the world's largest beer company also warned it was contending with rising prices of ingredients and higher freight costs. Concerns about the impact of higher costs on the company's profitability sent shares down 5.6% to $64.79.

Nokia Corp. on Thursday posted a forecast-beating rise in second-quarter net profit and raised guidance, driven by market share gains and higher sales of its 5G network equipment. The company said it now expects full-year net sales of EUR21.7 billion to EUR22.7 billion, from EUR20.6 billion-EUR21.8 billion previously. ADRs rose 4.1% to $6.05.

Royal Dutch Shell PLC said it would boost returns to shareholders after its profit was buoyed by higher oil prices, the latest sign of recovery in the pandemic-hit energy industry. Shell on Thursday said it would buy back $2 billion of shares by the end of the year and raised its second-quarter dividend to 24 cents a share, up from 17 cents in the previous quarter. Class B ADRs rose 3.7% to $39.92.

STMicroelectronics NV said Thursday net profit and revenue surged in the second quarter and raised its targets for the year, banking on high chip demand as the global supply shortage continues. ADRs rose 6% to $41.71.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

07-29-21 1727ET

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