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ADRs Close Higher, Pearson Falls

International stocks trading in New York closed higher Friday.

The S&P/BNY Mellon index of American depositary receipts rose 1% to 165.87. The European index was 0.8% higher to 146.69. The Asian index rose 1.1% to 223.51. The Latin American index was up 2% to 191.69. And the emerging-markets index rose 1.3% to 371.61.

Pearson PLC was among those whose ADRs traded actively.

InterContinental Hotels Group PLC's investors are looking for signs of continued recovery from the hotelier in a third-quarter performance update, Hargreaves Lansdown said. Intercontinental reported a steady recovery in U.S. and Chinese domestic travel for the first half of 2021, Hargreaves said.

"With airlines reporting improving European travel trends over the summer, there are reasons to think the green shoots of recovery have spread further in the third quarter," HL analyst Nicholas Hyett said. "Recovery in demand, new hotel openings and improved margins mean these have the potential to be blockbuster results. However, market expectations are correspondingly high." ADRs closed 2.7% higher at $70.24.

Pearson PLC's nine-month update showed higher education sales have slipped 7% in 2021 to date, worrying investors despite it maintaining full-year guidance, Interactive Investor says. The education company has seen higher education numbers slip with coronavirus infections in American colleges potentially deterring new enrollments and signs of strength in the U.S. jobs market offering an alternative, the investment platform says. ADRs fell 14% to $8.62.

 

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

 

(END) Dow Jones Newswires

October 15, 2021 18:43 ET (22:43 GMT)

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