VALE Vale SA

International stocks trading in New York closed higher on Tuesday.

The BNY Mellon index of American depositary receipts rose 0.8% to 126.27. The European index increased 0.8% to 124.85, the Asian index improved 0.5% to 133.88, the Latin American index rose 1.6% to 176.47 and the emerging markets index increased 1% to 232.68.

Bitauto Holdings Ltd. (BITA) was among the companies with ADRs that traded actively.

Baidu Inc. (BIDU, K3SD.SG) is shoring up its auto ecosystem, as it continues to develop a driverless car and looks to ramp up investment in areas outside of its core search business. This week, the Chinese internet giant unveiled a joint venture with a subsidiary of China Pacific Insurance (Group) Co. to form an online auto-insurance company with registered capital of 2 billion yuan ($305 million), and a $50 million investment in Bitauto, a Chinese online auto-marketing provider. Baidu's ADRs fell 2.2% to $170.86 and Bitauto Holdings Ltd. (BITA) increased 4.1% to $23.88.

BHP Billiton agreed to sell its coal interests in Indonesia to a unit of PT Adaro Energy Tbk, as the mining company narrows its focus to fewer, larger projects. BHP plans to sell its 75% stake in IndoMet Coal to partner PT Alam Tri Abadi, the Adaro unit that owns the remaining 25% of the business. The deal is valued at $120 million, The Wall Street Journal reported. ADRs of BHP Billiton Ltd. (BHP, BHP.AU) fell 1.4% to $28.76 and BHP Billiton PLC (BBL, BLT.LN) declined 1.5% to $25.76.

Royal Dutch Shell PLC (RDSA, RDSA.LN) said it is planning new spending cuts to keep up its dividend payments after spending about $50 billion to buy rival BG Group PLC during the depths of an oil-price rout. In its first presentation since the deal closed, Chief Executive Ben van Beurden raised the Anglo-Dutch oil giant's estimate for cost savings anticipated from the BG integration. Shell also gave the long-awaited go-ahead to a multibillion-dollar petrochemical plant that is expected to give a lift to Pennsylvania and the struggling shale-gas industry. ADRs rose 3.7% to $51.61.

Vale SA (VALE, VALE3.BR, VALE5.BR) said Tuesday that it is planning an overseas bond issue due in 2021. The Brazilian mining company, which didn't disclose the amount to be raised from the operation, said that it would use the proceeds for purposes including debt reduction. ADRs fell 1.6% to $4.80.

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

(END) Dow Jones Newswires

June 07, 2016 17:37 ET (21:37 GMT)

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