International stocks trading in New York closed higher on
Tuesday.
The BNY Mellon index of American depositary receipts rose 0.4%
to 148.98. The European index edged up 0.01% to 147.28, the Asian
index improved 1.3% to 156.98, the Latin American index rose 0.03%
to 219.74 and the emerging markets index increased 0.7% to 266.57.
Momo Inc. (MOMO) was among the companies with ADRs that traded
actively.
Momo rose 9.9% to $17.24 after the social networking platform
said it has received a takeover offer from its chief executive that
values the company at more than $3 billion. The dating app, often
referred to as "China's Tinder," was the latest in a series of
China based-companies with ADRs to receive management-led buyout
proposals.
ADRs of Alibaba Group Holding Ltd. (BABA) fell 60 cents to
$85.08 after the Chinese e-commerce company agreed to sell U.S.
online shopping site 11 Main to a New-York based rival OpenSky and
announced a separate deal in which Alibaba and its financial arm
together plan to invest nearly $1 billion into an Alibaba
food-delivery booking service in China called Koubei. The deals
highlight Alibaba's priorities at a time when earnings are slowing
down and competition intensifies at home.
Belgian-based brewer Anheuser-Busch InBev NV (BUD, ABI.BT) said
it plans to invest about $1.5 billion in its U.S. operations over
the next three years, as the world's largest brewer moves to shore
up its sales in the country. ADRs rose nearly 1% to $126.17.
ADRs of Carnival PLC (CUK, CCL.LN) fell 42 cents to $51.34 after
the cruise-ship company reported earnings in its most recent
quarter more than doubled amid growth in a key revenue metric and
lower-than-expected cruise costs. However its per-share earnings
guidance for the current quarter missed analysts' expectations.
European grocery chain Ahold NV (AHONY, AH.AE) said it was in
the "final stages of negotiations" with Delhaize Group (DEG,
DELB.BT) about a potential merger but that "no definitive agreement
on a transaction has been reached." The statement came after a
Dutch business newspaper reported that Ahold Chief Executive Dick
Boer would head the combined company, and that a deal would be
announced this week. Delhaize ADRs rose 7.5% to $24.55.
Syngenta AG (SYT, SYNN.VX) again rejected Monsanto Co.'s (MON)
roughly $45 billion takeover offer, reiterating the Swiss company's
position that the proposed deal undervalues its business and
underestimates the regulatory challenges of completing the
transaction. The Basel-based pesticide maker's ADRs fell 32 cents
to $86.19.
Write to Tess Stynes at tess.stynes@wsj.com
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