International stocks trading in New York closed higher on
Tuesday.
The BNY Mellon index of American depositary receipts rose 1.1%
to 142.03. The European index increased 1.2% to 143.17, the Asian
index edged up 0.4% to 146.19, the Latin American index rose 1.9%
to 190.28 and the emerging markets index increased 0.6% to 236.38.
Baidu Inc. (BIDU) and BP PLC (BP, BP.LN) were among the companies
with ADRs that traded actively.
Baidu's ADRs tumbled 15% $168.03 on Tuesday, a day after the
Chinese search giant said it will ramp up spending to promote its
expansion into linking online consumers with food delivery, group
buying and other offline services, even as such offerings continued
to take a toll on its profits. Baidu on Monday reported that its
second-quarter earnings rose 3.3% as revenue growth was mostly
offset by higher expenses.
BP's ADRs fell 3.4% to $37.29 after the U.K.-based oil giant
reported that it swung to a second-quarter loss. The company's
results were hit by lower oil prices and a multibillion-dollar
charge stemming from a deal BP reached earlier this month to settle
U.S. federal and state claims related to the 2010 Deepwater Horizon
disaster.
Diageo PLC (DEO, DGE.LN) said it would terminate its partnership
with Heineken NV in South Africa, as the world's largest spirits
maker moves to wield more control over an increasingly important
market. The London-based maker of Smirnoff vodka and Johnnie Walker
whiskey agreed to restructure its South African and Namibian joint
venture with Heineken and Namibia Breweries Ltd., ahead of a
previously agreed 2018 termination date. ADRs rose 53 cents to
$113.38.
Orange SA (ORAN, ORA.FR) reported that its first-half sales fell
less than expected, as more customers in France opted for premium
offers and the effects of a brutal price war in the country's
mobile market showed signs of easing. The former French telecom
monopoly's ADRs rose 14 cents to $16.70.
ADRs of Statoil ASA (STO) rose 4% to $16.48 after the
Norway-based oil company reported second-quarter earnings fell 16%
but beat expectations as an asset-sale gain offset write-downs and
impacts from lower oil prices.
Write to Tess Stynes at tess.stynes@wsj.com
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