ADRs End Higher; U.K. Financial Firms Rise

International stocks trading in New York closed higher on Monday.

The BNY Mellon index of American depositary receipts rose 2.4% to 122.98. The European index increased 2.6% to 121.13; the Asian index improved 2% to 130.81; the Latin American index rose 2% to 176.79; and the emerging markets index increased 1.9% to 228.42.

U.K. banks and insurers were among the companies with ADRs that traded actively.

Stocks, sterling and oil soared at the start of the week after polls suggested the U.K. was more likely to vote to remain in the European Union in Thursday's referendum than previously expected. The prospect of a U.K. exit from the EU had sent stocks around the world tumbling in recent sessions, while bond yields dropped to record lows as investors feared the move would spark a prolonged period of uncertainty and deal a blow to growth and trade in the world's fifth-largest economy. Among British companies with ADRs, Lloyds Banking Group PLC (LYG, LLOY.LN) rose 8.1% to $4.21, Royal Bank of Scotland Group PLC (RBS, RBS.LN) advanced 7.1% to $6.94, Barclays PLC (BCS, BARC.LN) increased 6.8% to $10.27, Aviva PLC (AV, AV.LN) rose 5.5% to $12.55 and Prudential PLC (PUK, PRU.LN, 2378.HK, K6S.SG) increased 5.3% to $37.37.

Wal-Mart Stores Inc. (WMT) intends to sell its online e-commerce marketplace in China to the country's No. 2 e-commerce company as part of a strategic tie-up, the companies said. JD.com Inc. (JD), the second-largest online retailer in China after Alibaba Group Holding Ltd. (BABA), would take ownership of the Yihaodian marketplace platform from Wal-Mart in an all-share deal, the companies said. The move further helps consolidate JD.com's No. 2 position while it competes for market share against Alibaba's TMall. ADRs of JD.com rose 4.6% to $21.06.

ADRs of Empresas ICA SAB (ICA, ICA.MX) rose 34% to 86 cents Monday, one trading day after the struggling Mexican construction company on Friday said it had secured a $215 million loan to fund current and future work. The company also had outlined a plan to become a much leaner company.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

June 20, 2016 17:29 ET (21:29 GMT)

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