International stocks trading in New York were mixed Tuesday. The
BNY Mellon index of American depositary receipts edged up 0.14% to
141.05. The European index eased 0.02% to 138.43, the Asian index
improved 0.15% to 150.71, the Latin American index rose 1.78% to
204.48 and the emerging markets index increased 0.73% to 254.45.
Among the companies with shares that actively traded was BHP
Billiton.
BHP Billiton Ltd. (BHP, BHP.AU) said its board recommended
shareholders approved plans to carve off a suite of unwanted assets
at a cost of more than US$700 million. The board's final signoff
brought closer what is tipped to be one of the biggest breakups in
mining history. Shares of Australia-listed BHP Billiton Ltd. rose
2.1% to $46.14. U.K.-listed BHP Billiton PLC (BBL, BLT.LN)
increased 2.1% to $43.43.
A slew of big, institutional investors who bought stakes in
Alibaba Group Holding Ltd. (BABA) before its September stock-market
debut will get a chance this week to cash in on the Chinese
e-commerce company's explosive growth. Holders of some 340 million
Alibaba shares will be free to sell as of Wednesday, when some
"lockup" agreements put in place in the company's initial public
offering expire. While the stock amounts to a sliver of Alibaba
stock, the release will roughly double the amount of shares
potentially available on the open market. Shares rose 50 cents to
$84.50.
Citigroup Inc. and Barclays PLC (BCS, BARC.LN) are expected to
settle as early as this week a lawsuit with private investors who
say the banks manipulated foreign-exchange rates, The Wall Street
Journal reported. New York-based Citigroup and London-based
Barclays are expected to pay as much as a combined $800 million to
settle the lawsuit, according to the Journal. How much Citigroup or
Barclays would pay individually couldn't be determined. Barclays
shares fell nearly 1% to 14.95.
Cemex SAB (CX, CEMEX.MX) aims to lower its debt by between $500
million and $1 billion this year, and could further cut financial
expenses by refinancing as much as $2.9 billion in debt, Chief
Executive Fernando Gonzalez told investors at the Cemex Day event.
The Mexican cement maker's total debt stood at $16.3 billion at the
end of 2014. The company expects average sales volume growth of 4%
for the 2014-2016 period, driven by a strong U.S. economy and
Mexico's recovering construction sector. Shares rose six cents to
$9.60.
The North American headquarters of China National Offshore Oil
Corp. said it plans to reduce its workforce by 13% owing to a slump
in global oil prices, raising questions about terms of the Chinese
state-owned company's accord with the Canadian government. Cnooc
said wholly-owned Canadian unit Nexen Energy ULC would reduce its
3,200-strong workforce by 400 jobs, including 340 in North America
and 60 working for its British unit. The company also plans to
reorganize key business units and slow development on a new
oil-sands project in northern Alberta. Shares of Cnooc Ltd. (CEO,
0883.HK), China National Offshore's listed unit, rose 10 cents to
$132.77.
Novartis AG (NVS, NOVN.VX) said European regulators approved
Jakavi to treat adults with a rare blood cancer, expanding uses of
the drug in the European Union. Basel, Switzerland-based Novartis
said Jakavi was approved to treat polycythemia vera, an incurable
blood cancer. The drug received U.S. approval in December to treat
the disease, also called PV, which can cause blood clots, strokes
and heart attacks. Jakavi already was approved in more than 80
countries for myelofibrosis--a type of bone marrow cancer. Novartis
shares fell 28 cents to $97.60.
Orange SA (ORAN, ORA.FR) said it would spend more than 15
billion euros ($15.87 billion) in its networks over the next four
years as the French telecom operator aims to revive sales growth
and profitability after years of decline with a new five-year
strategy plan. Shares fell 1.7% to $15.92.
Alimentation Couche-Tard Inc. agreed to purchase Royal Dutch
Shell PLC's (RDSA, RDSA.LN) retail, commercial fuels and aviation
businesses in Denmark for undisclosed terms, the latest in a string
of acquisitions for the Canada-based corner-store and gas station
giant. Shell's Danish retail business comprises 315 sites,
including 225 full-service stations, 75 automated fuel stations and
15 truck stops, Couche-Tard said. Royal Dutch Shell shares
increased 1.1% to $58.43.
Write to Tess Stynes at tess.stynes@wsj.com
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