International stocks trading in New York were mixed Wednesday. The Bank of New York index of American depositary receipts rose 0.2% to 153.07. The European index decreased 0.08% to 148.99, the Asian index improved 0.98% to 152.93, the Latin American index fell 1.3% to 295.47 and the emerging markets index increased 0.09% to 302.58. Among the companies with shares that actively traded was Petroleo Brasileiro SA (PBR, PETR3.BR).

Petroleo Brasileiro SA, or Petrobras, declined in New York as news of the death of presidential candidate Eduardo Campos filtered through the market. The state-run oil company's stock has risen and fallen in direct relation to electoral polls for the past several months, as investors weigh which candidate would be most likely to free up the company from what are seen as onerous government policies. The death of Mr. Campos seems to have convinced investors that incumbent Dilma Rousseff has a better chance of winning, driving the stock down. Shares fell 4.45% to $15.46.

Telecom Italia SpA's (TI, TIT.MI) chief executive on Wednesday proposed to Vivendi SA to merge its Brazilian unit TIM Participacoes SA (TSU, TIMP3.BR) with the French company's GVT SA, The Wall Street Journal reported, as the Italian firm tries to fight back after Spain's Telefonica SA (TEF,TEF.MC) made an offer to buy GVT earlier this month. TIM Participacoes shares fell 2.3% to $24. Telecom Italia shares declined 1.1% to $10.85. Telefonica shares edged up seven cents to $15.67.

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

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