ADRs End Higher; Momo Rises

International stocks trading in New York closed higher on Tuesday.

The BNY Mellon index of American depositary receipts rose 0.4% to 148.98. The European index edged up 0.01% to 147.28, the Asian index improved 1.3% to 156.98, the Latin American index rose 0.03% to 219.74 and the emerging markets index increased 0.7% to 266.57. Momo Inc. (MOMO) was among the companies with ADRs that traded actively.

Momo rose 9.9% to $17.24 after the social networking platform said it has received a takeover offer from its chief executive that values the company at more than $3 billion. The dating app, often referred to as "China's Tinder," was the latest in a series of China based-companies with ADRs to receive management-led buyout proposals.

ADRs of Alibaba Group Holding Ltd. (BABA) fell 60 cents to $85.08 after the Chinese e-commerce company agreed to sell U.S. online shopping site 11 Main to a New-York based rival OpenSky and announced a separate deal in which Alibaba and its financial arm together plan to invest nearly $1 billion into an Alibaba food-delivery booking service in China called Koubei. The deals highlight Alibaba's priorities at a time when earnings are slowing down and competition intensifies at home.

Belgian-based brewer Anheuser-Busch InBev NV (BUD, ABI.BT) said it plans to invest about $1.5 billion in its U.S. operations over the next three years, as the world's largest brewer moves to shore up its sales in the country. ADRs rose nearly 1% to $126.17.

ADRs of Carnival PLC (CUK, CCL.LN) fell 42 cents to $51.34 after the cruise-ship company reported earnings in its most recent quarter more than doubled amid growth in a key revenue metric and lower-than-expected cruise costs. However its per-share earnings guidance for the current quarter missed analysts' expectations.

European grocery chain Ahold NV (AHONY, AH.AE) said it was in the "final stages of negotiations" with Delhaize Group (DEG, DELB.BT) about a potential merger but that "no definitive agreement on a transaction has been reached." The statement came after a Dutch business newspaper reported that Ahold Chief Executive Dick Boer would head the combined company, and that a deal would be announced this week. Delhaize ADRs rose 7.5% to $24.55.

Syngenta AG (SYT, SYNN.VX) again rejected Monsanto Co.'s (MON) roughly $45 billion takeover offer, reiterating the Swiss company's position that the proposed deal undervalues its business and underestimates the regulatory challenges of completing the transaction. The Basel-based pesticide maker's ADRs fell 32 cents to $86.19.

Write to Tess Stynes at [e-mail]

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