ADRs End Higher; ArcelorMittal, BP and Carnival Trade Actively

International stocks trading in New York closed higher on Monday.

The BNY Mellon index of American depositary receipts rose 1.3% to 152.30. The European index increased 1.2% to 138.62. The Asian index rose 1.6% to 183.39. The Latin American index increased 1.4% to 266.52. And the emerging-markets index rose 1.5% to 333.70.

ArcelorMittal SA (MT), BP Plc (BP) and Carnival Plc (CUK) were among those with ADRs that traded actively.

Luxembourg-based ArcelorMittal said Monday that its ArcelorMittal India Private Limited subsidiary has submitted an offer for insolvent Indian steel producer Essar Steel India Limited. ArcelorMittal India submitted its offer in line with the corporate insolvency resolution process for Essar, ArcelorMittal said. Financial details weren't disclosed. ADRs of ArcelorMittal rose 1.7% to $33.34.

London-based BP said on Monday that it has started production at the Atoll Phase One project in Egypt seven months early and 33% below the initial cost estimate. The oil-and-gas company said it is aiming to produce 350 million cubic feet of gas a day, and 10,000 barrels a day of condensate at the project. Atoll is the first new project to come into production for BP in 2018, the company said. The total net production from new projects is expected to be 900,000 barrels of oil equivalent a day by 2021, BP said. ADRs of BP rose 1.9% to $39.87.

Miami-based Carnival Cruise Line announced Monday several initiatives designed to further bolster its leadership position on the West Coast. Those included: the deployment of Carnival Panorama to Long Beach in 2019 - the first new Carnival ship based in Southern California in 20 years; the grand re-opening of its 146,000-square-foot Long Beach Cruise Terminal, and a multi-million-dollar port development project in Ensenada, Mexico. ADRs of Carnival rose 2.1% to $68.44.

(END) Dow Jones Newswires

February 12, 2018 18:59 ET (23:59 GMT)

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