ADR Shares End Mixed; Petrobras Shares Rise

International stocks trading in New York were mixed on Tuesday. The BNY Mellon index of American depositary receipts fell 1.4% to 142.16. The European index decreased 1.7% to 139.89, the Asian index dropped 1.1% to 150.66, the Latin American index edged up 0.23% to 207.23 and the emerging markets index eased 0.12% to 256.95. Among the companies with shares that actively traded were Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR) and GOL Linhas Aereas Inteligentes SA (GOL, GOLL4.BR).

Petroleo Brasileiro, or Petrobras, said its board approved the sale of certain assets in Argentina for $101 million, part of broader divestment plan. The Brazilian state-run oil firm expects to post a fourth-quarter gain of $65 million related to the sale. Petrobras plans to sell an estimated $13.7 billion of assets in 2015 and 2016. Shares rose 1.4% to $6.01.

GOL Linhas Aereas Inteligentes posted a wider fourth-quarter loss amid increased hedging costs and as the depreciation of the Brazilian real against the U.S. dollar led to increased debt-service costs. The Brazilian budget airline's shares fell nearly 4% to $2.43.

AngloGold Ashanti Ltd. (AU, ANG.JO) said it is seeking a joint venture partner or a buyer for its only U.S. gold mine and has received an approach to purchase it stakes in the Sadiola and Yatela gold mines in Mali. The potential stake sales are in line with the South Africa-based gold miner's strategy to simplify its portfolio and generate more cash to lower its net debt of $3.13 billion. Shares fell 1.5% to $9.34.

Alcohol producers listed on euro stock exchanges with big exposure to the U.S. dollar are performing strongly this year, UBS said. RemyCointreau, Heineken and Pernod Ricard have seen their shares rise sharply in the past three months with a boost from the surging dollar. Improving U.S. consumer sentiment should support momentum for the rest of the year, UBS said. However, the investment bank added that Diageo PLC (DEO, DGE.LN) has struggled because it lacks "an FX tailwind." Diageo shares fell 2.2% to $110.57.

Philips NV (PHG, PHIA.AE) plans to sell a majority stake in its lighting components and automotive-lighting activities to an investment consortium in a cash deal that values the business at about $3.3 billion. The sale marks the first step in the Netherlands-based electronics group's two-part plan to exit the lighting business to focus on medical equipment and consumer-lifestyle products. Shares fell 1.5% to $28.34.

Samsung Electronics Co. (SSNHZ, 005930.SE) and LG Electronics Inc. (066570.SE) on Tuesday made public a settlement of their existing legal disputes, bringing a measure of peace to two of South Korea's best-known conglomerates. The settlement includes the companies' respective display affiliates and a dispute over organic light-emitting-diode technology used in bright, ultra-thin displays on many high-end smartphones and some televisions. LG Display Co. (LPL, 034220.SE) shares fell 1.7% to $14.31.

Write to Tess Stynes at [e-mail]

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