ADR Shares End Mixed; Rio Tinto Shares Trade Actively

International stocks trading in New York were mixed on Tuesday. The BNY Mellon index of American depositary receipts fell 1.43% to 146.32. The European index decreased 1.9% to 143.13, the Asian index dropped 0.83% to 143.85, the Latin American index rose 0.54% to 288.14 and the emerging markets index declined 0.36% to 290.48. Among the companies with shares that actively traded was Rio Tinto PLC (RIO, RIO.LN).

Rio Tinto said it rejected a merger proposal this summer by rival miner Glencore PLC--an approach that would have combined two of the world's biggest mining giants and scramble the global iron-ore market. Rio Tinto shares fell 4.1% to $49.38. Among other miners, BHP Billiton Ltd. (BHP, BHP.AU) dropped 1.5% to $57.11 and BHP Billiton PLC (BBL, BLT.LN) decreased 1.7% to $53.48.

Nokia Corp. (NOK, NOK1V.HE) said Tuesday it will suspend manufacturing at its cellphone factory in India after a lengthy dispute with the country's tax authorities--a setback as India embarks on a high-profile campaign to woo foreign investment. The tax battle prevented Nokia from selling the plant--once one of the Finland-based company's largest factories, employing as many as 8,000 people--to Microsoft Corp. along with the rest of its handset business earlier this year. Nokia shares fell 4% to $8.17.

UBS upgraded Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR), or Petrobras, to buy from neutral on hopes that after the presidential election, improved investment decision-making and corporate-governance practices will help the state-run oil firm get back on solid financial footing. While noting that challenges from the broader economy remain, UBS thinks even if President Dilma Rousseff is re-elected, Petrobras will be allowed to operate in a more market-friendly way. Shares rose 4.2% to $16.46.

Write to Tess Stynes at [e-mail]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires