ADRs End Higher; Mining Firms Rise

International stocks trading in New York closed higher Tuesday.

The BNY Mellon index of American depositary receipts rose 1.7% to 128.56. The European index increased 1.7% to 126.23, the Asian index improved 1.3% to 137.08, the Latin American index rose 3.4% to 187.53 and the emerging markets index increased 1.3% to 241.28.

Mining firms were among the companies with ADRs that traded actively.

Rising commodities prices boosted mining and energy companies in Europe and Australia. Among mining firms with ADRs, BHP Billiton Ltd. (BHP, BHP.AU) rose 5.2% to $31.46, BHP Billiton PLC (BBL, BLT.LN) increased 5.8% to $27.98 and Rio Tinto PLC (RIO, RIO.LN, RIO.AU) advanced 4.1% to $33.80.

Anheuser-Busch InBev NV (BUD) accepted the roughly $2.9 billion offer from Asahi Group Holdings Ltd. for SABMiller PLC's European premium brands, an important step in the Belgian brewer's effort to get regulatory approval for its pending acquisition of its biggest rival. AB InBev said Tuesday that the deal with Japan's Asahi is conditional upon the completion of the roughly $108 billion acquisition of SABMiller. Anheuser-Busch InBev's ADRs rose 3% to $131.77.

West Africa-focused gold producer Randgold Resources Ltd. (GOLD, RRS.LN) warned Tuesday that it expects the Kibali gold mine in Congo to produce less gold this year and next, compared with last year's record production as it ramps up it underground mining operations. Randgold operates Kibali and owns a 45% stake. ADRs rose 3.6% to $96.36 amid higher gold prices.

French drug maker Sanofi SA (SNY) said Tuesday that it planned to invest €300 million ($339 million) to expand its manufacturing site for biological drugs in Belgium. ADRs rose 1.1% to $44.19.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

April 19, 2016 17:57 ET (21:57 GMT)

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