International stocks trading in New York closed higher on Tuesday.

Telecom Italia SpA (TI, TIA) and Tim Participacoes SA (TSU, TIMP3.BR) were among the companies with ADRs that traded actively.

The BNY Mellon index of American depositary receipts rose 0.5% to 126.28. The European index increased 0.4% to 122.27; the Asian index improved 0.7% to 136.79; the Latin American index rose 0.4% to 196.83; and the emerging-markets index increased 0.9% to 246.54.

 

Telecom Italia (TI, TIA) said its first-half net profit reached 1 billion euros ($1.1 billion) as the company benefited from the effects of a convertible bond issued in 2013. The largest Italian telecom operator said that without such accounting effects, net profit would be almost flat on the year. ADRs rose 4% to $8.

 

Brazilian mobile-phone company Tim Participacoes SA (TSU, TIMP3.BR) late Monday reported a 92% decline in its net profit in the second-quarter, as revenue fell amid the country's economic recession. The unit of Telecom Italia also reduced its capital spending guidance. ADRs rose 5.4% to $12.58.

 

Anheuser-Busch InBev NV (BUD, ABI.BT) raised its offer for SABMiller PLC (SBMRY, SAB.LN, SAB.JO) in their proposed $100 billion-plus beer megamerger, as the the world's largest brewer aims to assuage concerns over the valuation of the deal after the British pound's steep descent. Anheuser-Busch InBev's ADRs rose 64 cents to $126.60. SABMiller, which isn't included in the index declined 1.1% to $57.65.

 

BP PLC (BP, BP.LN) said a two-year oil price slump and the 2010 Gulf of Mexico oil spill were exacting a punishing toll, sending the British oil giant to its third straight quarterly loss. ADRs fell 31 cents to $34.59.

 

Switzerland's biggest banks--UBS Group AG (UBS) and Credit Suisse Group AG (CS, CSGN.EB) -- are expected to post downbeat quarterly results later this week, as each struggle amid turbulent markets and increasingly strict regulation. Among the newest challenges: a tightening squeeze due to the country's negative interest rate policy. ADRs of Credit Suisse fell 7 cents to $11.57 and UBS rose 3 cents to $13.50.

 

Orange SA (ORAN, ORA.FR) reported that its sales growth slowed slightly in the second quarter as intense competition in its home market of France weighed on results. ADRs of France's largest telecoms company fell 3.6% to $15.20.

 

About 400 workers at seven Royal Dutch Shell PLC (RDSA, RDSA.LN) oil and gas platforms in the U.K. North Sea began a 24-hour strike early Tuesday in a dispute over proposed cuts of up to 30% on pay and allowances, the Unite union said in a news release. Production won't be affected by the strike because the platforms are undergoing maintenance, Shell said. ADRs rose 1.5% to $54.36.

 

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

 

(END) Dow Jones Newswires

July 26, 2016 17:50 ET (21:50 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
Orange (EU:ORA)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Orange Charts.
Orange (EU:ORA)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Orange Charts.