International stocks trading in New York were mixed Tuesday.
The BNY Mellon index of American depositary receipts fell 1.26%
to 148.17. The European index decreased 1.43% to 144.13, the Asian
index dropped 1.49% to 157.71, the Latin American index rose 1.18%
to 235.60 and the emerging markets index declined 0.67% to 278.06.
UBS Group AG (UBS) was among the companies with ADRs that traded
actively.
UBS rose nearly 5% to $21.37 after the Swiss bank reported that
its first-quarter profit nearly doubled from a year earlier on
gains at its core wealth management business and a strong bump from
its pared-down investment bank. UBS also said it is nearing the
settlement of a U.S. Justice Department probe into its
foreign-exchange business.
Germany's big-three premium brand auto makers are preparing to
launch a formal bid to acquire a majority stake in the HERE mapping
unit of Nokia Corp. (NOK, NOK1V.HE), in a consortium that includes
Chinese technology group Baidu Inc. (BIDU, K3SD.SG) and values HERE
at "considerably more than 2 billion euros," The Wall Street
Journal reported. The German car makers are aiming to acquire a
controlling majority, according to the Journal, while Baidu and an
undisclosed financial investor in the group would acquire minority
stakes. Nokia would retain a minority stake. Baidu's ADRs fell 4.4%
to $194.74, while Nokia's ADRs were flat at $6.38.
HSBC Holdings PLC's (HSBC, HSBA.LN, 0005.HK) management will
make a decision on whether to quit the U.K. by the end of the year,
the bank's chief executive said on Tuesday. The lender, which makes
the vast majority of its profit outside the U.K., also reported
that profit edged up in first three months of the year, bolstered
by a strong performance at its markets business. However, ADRs fell
3.1% to $47.57.
ADRs of Itau Unibanco Holding SA (ITUB, ITUB4.BR, ITUB3.BR) fell
three cents to $12.61 after Brazil's second-largest bank cut its
2015 loan portfolio growth outlook as the country's economy fails
to regain traction. The lender now expects its credit portfolio to
grow between 3% and 7% in 2015, compared with its previous estimate
of between 6% and 9%. After years of double-digit expansion in
their loan books, Brazilian banks recently have seen less demand
for credit, representing another setback for the country's
economy.
Write to Tess Stynes at tess.stynes@wsj.com
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