ADRs End Higher

01/02/18 05:08 PM EST
   By Imani Moise 
 

International stocks trading in New York closed higher on the first trading day of the new year.

BP PLC (BP) was among the companies with ADRs that traded actively Tuesday.

The BNY Mellon index of American depositary receipts rose 1.6% to 155.68. The European index increased 1% to 143.76, the Asian index improved 2.4% to 184.61, the Latin American index rose 3.4% to 257.31 and the emerging markets index increased 3.3% to 336.57.

ADRs of BP PLC edged 0.8% higher to $42.38 after the bank said it would record a $1.5 billion charge in the fourth quarter related to the new tax laws but said longer-term effects of a corporate tax cut would be positive.

ADRs of Gerdau S.A. (GGB) rose 5.91% to $3.94 after Commercial Metals Co. (CMC) said it agreed to buy certain U.S. rebar steel mill and fabrication assets from the Brazilian steelmaker.

ADRs of Tata Motors Ltd. (TTM) rose 3.8% to $34.32 after the company reported commercial-vehicle sales surged 62% on-year in December.

ADRs of Royal Dutch Shell PLC (RDSB.LN) rose 2% to $68.04 after the company said the sale of A/S Dansk Shell to Dansk Olieselskab AS has terminated and won't complete.

 

Write to Imani Moise at imani.moise@wsj.com

 

(END) Dow Jones Newswires

January 02, 2018 17:08 ET (22:08 GMT)

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