International stocks trading in New York closed higher on Wednesday. The Bank of New York index of American depositary receipts rose 1.1% to 157.56. The European index increased 1% to 157.33, the Asian index improved 1% to 149.02, the Latin American index rose 2.1% to 294.52 and the emerging markets index increased 1.3% to 291.11. Among the companies with shares that actively traded were Telefonica SA (TEF, TEF.MC) and Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) .

Telefonica said Wednesday it had launched a bid for a 22% Digital Plus stake that along with a previously announced deal would give the Spanish telecom giant full control of the local pay-TV business. Shares rose 2.9% to $17.33 .

A bid by Teva to bolster its Copaxone treatment for multiple sclerosis, which faces a generic threat, appears to be working. Nearly 57% of prescriptions for new patients and almost 40% of prescriptions for existing patients--those taking the older daily version of the drug--are being written for the recently launched 3 times/week version, according to data cited by Jefferies. Separately, Teva Chairman Phillip Frost said Wednesday that he expects to step down this year, ahead of his term end in 2015. Shares rose 3.1% to $53.02.

BP PLC (BP, BP.LN) and the China National Offshore Oil Corp. confirmed they have signed a preliminary agreement for the supply of up to 1.5 million tons of liquefied natural gas a year over 20 years, starting in 2019. A full commercial contract is expected to be agreed in mid-2014, BP said. BP shares rose 2% to $52.67.

Novartis AG (NVS, NOVN.VX) on Wednesday offered details of how the Swiss pharmaceutical giant's sweeping business overhaul would boost its performance, saying its core operating profit margin would have been more than two percentage points higher if the changes had been implemented last year. The new structure focuses on pharmaceuticals, eye-care and generic drugs. Shares rose 0.6% to $90.40.

Royal Dutch Shell PLC (RDSA, RDSA.LN, RDSB, RDSB.LN) plans to spin off several U.S. pipelines into a publicly traded partnership. In a regulatory filing, the Anglo-Dutch oil giant said it expects an initial public offering of up to $750 million Shell Midstream Partners LP shares in the second half of this year. Based in Houston, the partnership owns pipelines that carry crude oil onshore from the Gulf of Mexico and others that carry refined products up the East Coast to New York. Shares rose 1.9% to $82.01.

Brazil's mobile-phone subscriptions rose at a higher pace in May compared with the previous month. Market leader Telefonica Brasil SA (VIVT4.BR, VIV), also known as Vivo, and TIM Participacoes SA (TSU, TIMP3.BR) , No. 2 by number of clients, both gained ground. However market share declined for Claro, the local unit of Mexico's America Movil SAB (AMOV, AMX.MX, AMX) and local company Oi SA (OIBR, OIBR4.BR). Telefonica Brasil shares rose 2.4% to $20.70; TIM Participacoes rose 1.5% to $29.61; America Movil edged down 0.3% to $19.47 and Oi declined 1.2% to 95 cents.

WPP PLC (WPPGY, WPP.LN) chief executive Martin Sorrell on Wednesday said consolidation in the advertising industry will continue as companies continue to keep their costs down. Ad companies are facing intensifying cost pressures from their clients--including big marketers--some of whom have squeezed ad agencies by delaying payments, among other tactics, ad executives have said. Shares fell 1.5% to $107.98.

Write to Tess Stynes at tess.stynes@wsj.com

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