Royal Dutch Shell Stock – ADRs Close Mostly Lower; Shell Trades Actively
International stocks trading in New York closed mostly down on Wednesday.
The S&P/BNY Mellon index of American depositary receipts eased 0.1% to 171.75. The Asian index declined 0.4% to 238.66. The Latin American index closed roughly flat at 227.12. And the emerging-markets index declined 0.2% to 415.43.
Meanwhile, the European index gained 0.1% to 146.14.
Royal Dutch Shell PLC was among the companies whose ADRs traded actively.
Royal Dutch Shell PLC said it would accelerate its efforts to cut its carbon emissions in the wake of a Dutch court ruling last month ordering the oil giant to take more drastic action. In a post on LinkedIn on Wednesday, Chief Executive Ben van Beurden said Shell disagreed with the ruling and still expected to appeal the court’s order to curb emissions by 45% by 2030, but would nonetheless rise to the challenge of doing more. “Now we will seek ways to reduce emissions even further in a way that remains purposeful and profitable. That is likely to mean taking some bold but measured steps over the coming years,” he wrote. Shell’s Class B ADRs closed down 0.1% at $37.47.
China’s tech crackdown is mostly affecting firms listed outside the country, helping to create a big performance gap between onshore and offshore Chinese stocks. In the three months to Tuesday, an iShares exchange-traded fund tracking an MSCI Inc. index of 490 onshore Chinese stocks, or A Shares, has gained 8.9%, according to FactSet. A similar vehicle that follows the broader MSCI China index is up just 0.2% over the same period. Over the last 12 months, the former has outperformed by 20 percentage points. The wider index includes some shares listed in Shanghai and Shenzhen, but is heavily tilted toward internet companies, most of which are listed in Hong Kong and the U.S. Five companies — Tencent Holdings Ltd., Alibaba Group Holding Ltd., food-delivery giant Meituan, and e-commerce platforms JD.com Inc. and Pinduoduo Inc. — make up nearly 35% of the benchmark and are listed outside mainland China. The biggest company in the A-Share index is liquor maker Kweichow Moutai Co., with an index weight of 6.2%. Alibaba fell 1.2% to $213.32; JD.com fell 0.9% to $72.64; Pinduoduo fell 1.2% to $125.52; and Tencent, whose unsponsored ADRs trade over the counter, fell 0.3% to $77.33.