ADRs End Higher; UBS Rises

International stocks trading in New York closed higher on Wednesday.

UBS Group AG (UBS) was among the companies with ADRs that traded actively.

The BNY Mellon index of American depositary receipts rose 1.1% to 124.29. The European index increased 1.3% to 122.72, the Asian index improved 0.7% to 131.73, the Latin American index rose 0.3% to 177.33 and the emerging markets index increased 0.3% to 229.18.

UBS issued a warning Tuesday that the Swiss bank may have difficulty accommodating trading in the run-up to, and in the wake of, this week's U.K. vote on European Union membership. ADRs rose 2.5% to $15.44.

Energy and mining giant BHP Billiton has started tapping into its backlog of drilled oil wells in Texas and could profitably drill new wells if oil prices hold above $50 a barrel, Chief Executive Andrew Mackenzie said. Earlier Tuesday, BHP sounded a bullish note on future coal demand and its role as a major exporter. ADRs of BHP Billiton Ltd. (BHP, BHP.AU) fell 7 cents to $28.30 and BHP Billiton PLC (BBL, BLT.LN) rose 9 cents to $25.06.

Oi SA (OIBR, OIBRC, OIBR4.BR) seeking bankruptcy protection is likely to result in more loan-loss provisions at local banks. The troubled Brazilian phone company had reported gross debt of about 50 billion reais ($14.7 billion), with about a quarter of it owed to commercial banks like Itau Unibanco Holding SA (ITUB, ITUB3.BR, ITUB4.BR) and Banco Bradesco SA (BBDO, BBD, BBDC4.BR) and an additional 5% in the hands of development banks. According to analysts, banks usually adopt a provision of one third on loans of companies requiring bankruptcy protection. ADRs of Oi fell 2.8% to $1.75, Itau fell 5 cents to $8.59 and Bradesco rose 2.3% to $7.61.

The incoming chief executive of Rio Tinto PLC (RIO, RIO.AU, RIO.LN) shook up the mining giant's top ranks in an effort to steer the company through a prolonged slump in prices for the commodities it sells. ADRs rose 12 cents to $30.17.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

June 21, 2016 18:24 ET (22:24 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.