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ADRs Close Higher; HSBC Trades Actively

08/02/2021 | 04:09pm EDT

International stocks trading in New York closed higher on Monday.

The S&P/BNY Mellon index of American depositary receipts rose 0.5% to 166.72. The European index gained 0.1% to 143.84. The Asian index rose 1% to 229.14. The Latin American index improved 0.5% to 211.97. And the emerging-markets index increased 0.9% to 389.33.

HSBC Holdings PLC was among the companies whose ADRs traded actively.

The union representing workers at Chile's La Escondida copper mine said its members voted to reject the most recent contract offer from the mine's owner and go on strike, potentially risking disruptions to the supply of a key metal as the world's economy continues to recover from the impact of the coronavirus pandemic. BHP Group Ltd. manages the operation and holds a roughly 58% stake. Other investors include Rio Tinto PLC and Japan's Mitsubishi Corp. Located in Chile's northern Atacama Desert, it is the world's largest copper mine, producing almost 5% of the world's supply of the metal, which is used to make electrical wiring and motors, and in construction, among many other applications. BHP's ADRs declined 0.2% to $78.41, while Rio Tinto's gained 1.2% to $87.30.

HSBC Holdings PLC's net profit rose in the second quarter as the London-based lender reduced provisions for bad loans caused by the economic fallout from the coronavirus pandemic. The banking giant, which is sharpening its focus on lucrative Asian markets, unveiled a forecast-beating quarterly profit of $3.4 billion and said it would resume paying dividends--a key focus for many investors in the sector. ADRs declined 0.5% to $27.43.

(END) Dow Jones Newswires

08-02-21 1809ET

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