International stocks trading in New York closed higher
Tuesday.
The BNY Mellon index of American depositary receipts rose 1% to
147.78. The European index increased 1.1% to 144.82, the Asian
index edged up 0.8% to 156.72, the Latin American index rose 1.3%
to 223.36 and the emerging markets index increased 0.7% to 272.83.
Nokia Corp. (NOK, NOK1V.HE) and Alcatel-Lucent (ALU, ALU.FR) were
among the companies with ADRs that traded actively.
Nokia is close to buying French rival Alcatel-Lucent in a deal
aimed at creating a European telecommunications-equipment behemoth
that could spur a new wave of consolidation. The two companies said
Tuesday that they are in advanced talks over a "full combination"
of their businesses in which Nokia would offer a share exchange for
control of Alcatel-Lucent. The deal--while not yet sealed--is
expected be announced as early as this week, The Wall Street
Journal reported. Alcatel-Lucent ADRs rose 13% to $4.93 and Nokia
ADRs fell 4.1% to $7.96.
HSBC Holdings PLC (HSBC, HSBA.LN, 0005.HK) has begun hunting for
new nonexecutive directors as part of a shake-up of its board, The
Wall Street Journal reported. The bank has hired MWM Consulting to
find nonexecutive directors to replace long-standing board members,
according to the Journal. ADRs rose 37 cents to $45.64.
ADRs of Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR) rose
2.8% to $8.22 after the Brazilian state-controlled oil giant said
late Monday that it plans to release its 2014 audited earnings
April 22. Petrobras has delayed the release of its earnings in the
wake of accusations that it overpaid for work by contractors and
that the excess funds were funneled to former executives and
political parties.
Write to Tess Stynes at tess.stynes@wsj.com
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