ADR ends higher, Compagnie Financiere Richemont SA and Ubisoft Entertainment are trading briskly

Kathryn Hardison

The international stock market trading in New York closed higher on Wednesday.

The S&P/BNY Mellon Index of American Depositary Receipts rose 0.4% to 131.15. The European index increased 0.3% to 122.37, the Asian index increased 0.4% to 158.87, the Latin American index increased 1% to 183.54 and the emerging markets index increased 1.2% to 276.47.

Compagnie Financiere Richemont SA and Ubisoft Entertainment SA are among the companies with actively traded ADRs.

Compagnie Financiere Richemont’s ADRs rose 2.3% after rejecting director candidates proposed by activist investors and shareholders electing incumbent non-executive director Wendy Luhabe to the board.

Ubisoft’s ADR fell 20% after Chinese internet giant Tencent Holdings Ltd. announced it would increase its stake in Ubisoft. Tencent’s ADR rose by 1.5% on him.

Cinemaworld’s ADR, which owns Regal Cinemas, fell 1.7% after the company filed for bankruptcy as it struggles to restore theater attendance after the pandemic.

Write to Kathryn [email protected]

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