ADR Shares End Mixed; Portugal Telecom, Oi Shares Trade Actively

International stocks trading in New York were mixed on Wednesday. The Bank of New York index of American depositary receipts rose 0.58% to 157.41. The European index increased 0.78% to 155.59, the Asian index improved 0.11% to 151.32, the Latin American index rose 0.21% to 303.72 and the emerging-markets index declined 0.06% to 298.16. Among the companies with shares that actively traded were Oi SA (OIBR OIBR4.BR) and Portugal Telecom SGP SA (PT, PTC.LB).

Brazil telecom company Oi SA (OIBR OIBR4.BR) set a deal with Portuguese partner Portugal Telecom SGP SA (PT, PTC.LB) over the transfer of 847 million euros in debt owed by the Espirito Santo group. An Espirito Santo subsidiary, Rio Forte, missed a payment due Tuesday on the debt. Portugal Telecom agreed to buy the debt back in exchange for Oi shares worth 16.6% of the Brazilian firm's total capital. PT, which is merging with Oi, will have an option to buy back the Oi shares for six years. Oi shares climbed 11% to 75 cents. Portugal Telecom shares fell 1.6% to $2.51.

ASML Holding NV (ASMI, ASM.AE) said Wednesday that second-quarter net profit rose 81% as the semiconductor-equipment maker sold its lithography systems at a higher average price. Rabobank said the Netherlands-based company's quarterly report was a mixed bag, with results exceeding expectations on a strong gross margin, but the 2014 revenue outlook disappointed. Shares fell 2.5% to $88.39.

Write to Tess Stynes at [e-mail]

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