International stocks trading in New York closed higher on Thursday.

The BNY Mellon index of American depositary receipts rose 1% to 120.33. The European index edged up 0.5% to 118.85, the Asian index improved 1.4% to 128.89, the Latin American index rose 4.5% to 160.85 and the emerging markets index increased 1.5% to 217.67.

Embraer SA (ERJ, EMBR3.BR) was among the companies with ADRs that traded actively.

 

Brazilian aircraft maker Embraer adopted a provision of 390.6 million Brazilian reais (about $100 million) in the fourth quarter as the result of the bankruptcy filing of U.S. customer Republic Airways. "Actual payments and cash disbursements for these provisions may occur depending on the future negotiations of Republic's Chapter 11 process," the company said. Embraer's ADRs fell 12% to $26.24.

 

Chinese Internet-search giant Baidu Inc. (BIDU) is investing in a growing collection of patents and stepping up field tests in its quest to develop autonomous cars, a race that pits the company against global technology heavyweights, its Chief Executive Officer Robin Li said on Thursday. ADRs rose 36 cents to $177.30.

 

Mining companies responsible for a disastrous dam failure in Brazil last year signed an agreement with authorities Wednesday that could allow them to pay far less than the 20.2 billion Brazilian reais (about $5.2 billion) originally sought by government lawyers. Samarco Mineracao SA and its parent companies, Brazilian mining giant Vale SA (VALE, VALE3.BR, VALE5.BR, VALE5.FR) and Australia's BHP Billiton Ltd. (BHP, BHP.AU), reached the settlement after weeks of haggling with federal and state authorities that had joined the lawsuit. On Thursday, Vale's ADRs rose 13% to $4.11, while BHP Billiton Ltd. increased 1.8% to $25.85 and BHP Billiton PLC (BBL, BLT.LN) advanced 2.5% to $22.97.

 

European supermarket operators Royal Ahold NV (AH.AE) and Delhaize Group (DEG, DELB.BT) on Thursday reported a rise in fourth-quarter earnings and raised their dividends as they work to close their merger. Delhaize's ADRs rose 1.2% to $26.27.

 

Blackstone Group LP and Onex Corp. have teamed up to bid for the lighting unit of Philips NV (PHG, PHIA.AE), The Wall Street Journal reported, citing people familiar with the situation. The business could be worth between EUR4.5 billions ($4.9 billion) and EUR5 billion, one of the people said. ADRs of Philips fell seven cents to $26.15.

 

Magistrates have placed the French unit of UBS Group AG (UBS) under formal investigation for alleged witness tampering after a former employee filed a complaint against the bank, Paris prosecutors said. "The bank strongly denies the allegations from this former employee" and "awaits the conclusion of this case with serenity," said UBS in an emailed statement. UBS has also denied wrongdoing in the tax investigation. ADRs of UBS rose 1.6% to $16.52.

 

ADRs of Weibo Corp. (WB) rose 9.5% to $15.93 a day after the Microblog portal delivered another quarter of higher revenue and improved margins to Chinese Internet company Sina Corp. in the December quarter.

 

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

 

(END) Dow Jones Newswires

March 03, 2016 18:23 ET (23:23 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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