ADRs End Mostly Higher; Ctrip Declines

International stocks trading in New York were mostly higher Tuesday.

The BNY Mellon index of American depositary receipts rose 0.6% to 147.85. The European index increased 0.9% to 145.72, the Asian index dropped 0.55% to 156.60, the Latin American index rose 2.59% to 219.29 and the emerging markets index increased 0.67% to 266.78. Ctrip.com International Ltd. (CTRP, K3RD.SG) was among the companies with ADRs that traded actively.

Qunar Cayman Islands Ltd. (QUNR) which runs one of China's largest online travel-booking sites, late Monday rejected a bid from Shanghai-based Ctrip.com, its biggest rival. As competition among online travel providers is intensifying in China, independent companies such as Ctrip and Qunar, have been aiming to boost market share and compete for the rising number of Chinese mobile-device users. ADRs of Qunar rose by a penny to $46.02 and Ctrip fell 5.6% to $77.04.

Several of FIFA's big corporate sponsors including Coca-Cola Co., Visa Inc. and Adidas AG said they welcomed the resignation of the soccer governing body's president amid a wide-ranging corruption scandal, and urged the organization to enact swift changes to restore its credibility. Anheuser-Busch InBev NV (BUD), which has been a FIFA sponsor since the 1986 World Cup, said it expects Tuesday's resignation by Sepp Blatter to "accelerate" the organization's efforts to "install positive change." Anheuser-Busch InBev ADRs rose 2.3% to $122.

U.K. banks Barclays PLC (BCS, BARC.LN) and HSBC Holdings PLC (HSBC, HSBA.LN, 0005.HK) are reviewing payments that were allegedly used to bribe FIFA officials, The Wall Street Journal reported. The banks' respective compliance teams are looking at the transactions and nothing has yet been determined, according to the Journal. The banks were among a group of lenders named by U.S. authorities following accusations of widespread corruption in soccer's world governing body. Barclays ADRs rose 1.7% to $16.48 and HSBC Holdings increased 31 cents to $47.78.

Banco Bradesco SA (BBDO, BBD, BBDC4.BR), Itau Unibanco Holding SA (ITUB, ITUB3.BR, ITUB4.BR) and Banco Santander Brasil SA (BSBR, SANB3.BR, SANB4.BR, SANB11.BR) have bid to buy the Brazilian unit of HSBC Holdings PLC, The Wall Street Journal reported. Spokesmen for the banks declined to comment. The sale process is in an early stage and more bids could be made in the next few weeks, according to the Journal. ADRs of Banco Bradesco rose 1.8% to $8.70, Itau increased 3.4% to $11.05 and Banco Santander Brasil rose 4.1% to $5.15.

A Canadian court ordered British American Tobacco PLC (BTI, BATS.LN), Philip Morris International Inc. and Japan Tobacco Inc. to pay 15.6 billion Canadian dollars ($12.5 billion) in damages to Quebec smokers after a 17-year legal battle, in the latest case to roil the global tobacco industry. Imperial Tobacco Canada, a unit of British American Tobacco, was ordered to pay 10.4 billion Canadian dollars. British American Tobacco ADRs fell 1.4% to $107.94.

Brazil's state-controlled oil company Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR), or Petrobras, confirmed the sale of $2.5 billion of debt in its 100-year bond deal, the latest sign of robust demand from investors for bonds that offer higher rates than safe government debt. ADRs rose 6.6% to $8.92.

Write to Tess Stynes at [e-mail]

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