International stocks trading in New York closed higher
Wednesday, with the Bank of New York index of American depositary
receipts adding 0.3% to 151.27. The European index rose 0.4% to
150.62, the Asian index was essentially flat at 146.70, the Latin
American index rose 0.2% to 272.77 and the emerging markets index
increased 0.1% to 269.56. Among the companies with shares that
actively traded were Teva Pharmaceutical Industries Ltd. (TEVA,
TEVA.TV) and Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR).
Israel-based Teva Pharmaceutical's new chief executive will
retain his board seat. The company also received a favorable legal
ruling. Late Tuesday, a U.S. federal judge rejected arguments by
closely held Purdue Pharma LP that Teva infringed its patents by
seeking approval of a generic version of Purdue's painkiller
OxyContin. Purdue, of Stamford, Conn., said it would appeal the
decision. However, Teva shares ended down 0.5% at $44.01.
Brazilian state-run oil company Petroleo Brasileiro, or
Petrobras, expects its financing needs to decrease in 2014 as the
company pumps more oil from offshore fields, Chief Financial
Officer Almir Barbassa told The Wall Street Journal on Wednesday.
Shares rose 2.3% to $12.71.
The slowdown in 2013 top-line growth at Unilever PLC (UL,
ULVR.LN) is set to continue, coupled with margin pressure, said
J.P. Morgan Cazenove as it downgraded Unilever to underweight from
neutral. "While management seems ready for action, we are worried
of potential competitive battles, especially with Procter &
Gamble (PG), in a lower growth environment," said J.P. Morgan.
Unilever shares slid 1.4% to $39.42.
Rio Tinto PLC (RIO, RIO.LN) shares rose as UBS upgraded fellow
mining company Anglo American PLC (AAUKY, AAL.LN) to buy from
neutral. UBS added that it still prefers buy-rated stocks like Rio
Tinto and BHP Billiton PLC (BBL, BLT.LN). Rio Tinto shares added
1.5% to $52.99, while BHP Billiton edged up 0.4% to $58.67.
Write to Anna Prior at anna.prior@wsj.com