International stocks trading in New York closed higher on
Monday.
The BNY Mellon index of American depositary receipts rose 1.3%
to 144.56. The European index increased 1.1% to 145.56, the Asian
index improved 1.3% to 149.66, the Latin American index rose 2.9%
to 190.92 and the emerging markets index increased 2.1% to 240.16.
Alibaba Group Holding Ltd. (BABA) was among the companies with ADRs
that traded actively.
Alibaba is making its biggest bet yet on the staid world of
bricks-and-mortar retailing, as the e-commerce giant spends $4.63
billion to join up with an electronics chain, Suning Commerce Group
Ltd., which once struggled to cope with Chinese consumers shifting
to the Internet. Alibaba's ADRs rose 2.1% to $80.47.
ADRs of JD.com Inc. (JD) fell 6.3% to $30.06 as Alibaba's tie-up
with Suning allows the e-commerce giant to set its sights squarely
on rival JD, whose core business has long been consumer
electronics.
Investors drew encouragement after negotiations over a third
bailout for Greece appeared to advance over the weekend. Greece's
Athex Composite index closed 2.1% higher, although it is still down
sharply since it reopened last week after a five-week hiatus. ADRs
of National Bank of Greece SA (NBG, ETE.AT) rose 10% to 84
cents.
French drug maker Sanofi (SNY, SAN.FR) agreed to develop cancer
immunotherapies with German biotech company Evotec AG (EVT.XE) and
Austria's Apeiron Biologics. The deal covers research collaboration
and a license agreement to discover and develop therapies that
harness the body's immune system to fight tumors. Sanofi ADRs rose
2.1% to $54.98.
Write to Tess Stynes at tess.stynes@wsj.com
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