ADR Shares End Higher; Tata Motors Shares Fall

International stocks trading in New York closed higher on Thursday. The BNY Mellon index of American depositary receipts rose nearly 1% to 143.85. The European index increased 1.2% to 141.8, the Asian index edged up 0.6% to 147.99, the Latin American index rose 0.8% to 228.94 and the emerging-markets index increased 0.2% to 270.15. Among the companies with shares that actively traded was Tata Motors Ltd. (TTM, 500570.BY).

Tata Motors posted an unexpected 26% drop in profit for the quarter ended Dec. 31, driven by sluggish sales at its Jaguar Land Rover Automotive PLC unit and a loss at operations in its home market of India. Shares fell 5.3% to $47.85.

ABB Ltd. (ABB, ABBN.VX, ABB.SK) reported a 30% rise in earnings for its latest quarter on Thursday, as the Zurich-based power and automation giant's new strategic direction produced some early gains. Shares of the world's largest maker of power grids rose 2.6% to $20.36.

AstraZeneca PLC (AZN, AZN.LN) moved to further bulk up its respiratory-drug business with the acquisition of Actavis PLC's branded respiratory-drug business in the U.S. and Canada for an initial $600 million. The deal was announced as the U.K. drug maker also reported a disappointing set of fourth-quarter results. Shares fell 2.6% to $69.25.

Cemex SAB (CX, CEMEX.MX) said it plans to sell between $1 billion and $1.5 billion in assets over the next 12 to 18 months to chip away at its heavy debt burden and related financial expenses. Shares of the Mexico City-based cement company rose 14% to $9.98.

Sanofi SA (SNY) reported a sharp rise in fourth-quarter profit, helped by lower charges, and said it would name a new chief executive in the coming weeks. The Paris-based pharmaceutical giant's shares rose 3% to $48.42.

Teva Pharmaceuticals Industries Ltd. (TEVA, TEVA.TV) said its profit rose in the most recent quarter as a drop in costs offset revenue declines driven in part by currency fluctuations. Shares rose 1.9% to $57.54.

Write to Tess Stynes at [e-mail]

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