MT ArcelorMittal

International stocks trading in New York closed lower on Wednesday.

The S&P/BNY Mellon index of American depositary receipts fell 0.9% to 139.31. The European index decreased 1% to 129.48. The Asian index fell 0.5% to 161.71. The Latin American index decreased 1.5% to 241.36. And the emerging-markets index fell 1% to 299.54.

AngloGold Ashanti Ltd. (AU), ArcelorMittal SA (MT), Credit Suisse Group AG (CS) and Lloyds Banking Group PLC (LYG) were among those with ADRs that traded actively.

AngloGold Ashanti said Wednesdayit expects to report a rise in both headline and basic earnings for the first half of the year. The South Africa-based gold miner attributed its performance to costs against its restructured South African operations that were booked last year and won't be repeated. For the half year AngloGold expects to report headline earnings between $111 million and $129 million, compared with $99 million for the first half of 2018. This equates to earnings per share of 27 cents to 31 cents, compared with 24 cents. ADRs of AngloGold fell 9% to $17.06.

ArcelorMittal, SSAB, Hyundai Steel Co. and Tata Steel Ltd. are best prepared to reduce their emissions in line with the levels required to prevent global warming and are taking steps to decarbonize, according to a report by nonprofit investment-research provider CDP. According to the report, which analyses the world's 20 largest steel companies, Chinese, Russian and U.S. companies are lagging behind their European and East Asian peers on environmental performance and transparency. The report says the sector--which the International Energy Agency says is responsible for up to 9% of global emissions--is not reducing greenhouse gases at the rate required to hold global warming below 2 degrees Celsius. ADRs of ArcelorMittal fell 5% to $15.72.

Credit Suisse's profit growth accelerated in the second quarter, bolstered by its global markets businesses and domestic operations despite a challenging environment for Europe's lenders. The Swiss bank's performance is a further endorsement of the sweeping restructuring efforts that it started in 2015 to streamline its investment-banking operations and sharpen its focus on wealth management.The bank said Wednesday that its second-quarter net profit rose 45% to 937 million Swiss francs ($946.3 million) from 647 million francs a year earlier, after a smaller rise in the prior quarter. Revenue was flat from a year earlier at 5.58 billion francs. Analysts had expected the bank to post a second-quarter net profit of 806 million francs on revenue of 5.32 billion francs, according to a consensus forecast provided by the bank. ADRs of Credit Suisse rose 1.2% to $12.07.

Lloyds Banking Group missed expectations for the first half and lowered returns guidance. Lloyds kicked off the lenders' earnings season with a set of downbeat results, hit by impairment charges and Brexit uncertainty. Lloyds's lackluster income growth in the second quarter hints at weaker underlying trends in the U.K. economy, Hargreaves Lansdown analyst Nicholas Hyett says. A tougher economic environment and increasing competition have been compounded by an increase in impairment charges, which have hit the British bank's profit, Hyett says. "For now consumers still look relatively upbeat, but increased exposure to things like unsecured retail lending, car finance and credit cards mean that should conditions turn sour for U.K. consumers Lloyds will suffer," Hyett says. ADRs of Lloyds Banking Group fell 3% to $2.57.

(END) Dow Jones Newswires

July 31, 2019 17:42 ET (21:42 GMT)

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