ADRs End Lower; NQ Mobile Rises

International stocks trading in New York closed lower on Tuesday.

NQ Mobile Inc. (NQ) was among the companies with ADRs that traded actively.

The BNY Mellon index of American depositary receipts edged down 0.42% to 121.52. The European index eased 0.34% to 120.00, the Asian index dropped 0.51% to 128.22, the Latin American index fell 0.77% to 175.70 and the emerging markets index declined 0.56% to 225.04.

NQ Mobile Inc. (NQ) agreed to sell a majority stake in its mobile-game arm in a deal that values the business at 5 billion Chinese yuan ($767 million). The mobile Internet provider, which has headquarters in Dallas and Beijing,in late August unveiled a "binding agreement" to sell its "entire stake" in FL Mobile at a valuation of no less than 4 billion yuan. But it has been several years since NQ Mobile first tried to shed the business. ADRs rose 11% to $4.52.

BP PLC (BP, BP.LN) said its head of exploration, Richard Herbert, is leaving the U.K. oil giant. The company said Mr. Herbert's departure follows a decision to streamline the executive team managing exploration and production, known as "upstream" in industry parlance. ADRs rose 16 cents to $32.22.

ADRs of Diageo PLC (DEO, DGE.LN) fell 1.7% to $107.34 a day after the spirits giant said its sales in Latin America for the fiscal year ending in June would be hit by an accounting error related to sales of its its high-end tequila brand Don Julio last year.

Brazilian state-run oil company Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR) plans to issue new debt to cover a buyback of up to $3.58 billion of outstanding bonds maturing in coming years. ADRs fell 6 cents to $7.09.

Novartis AG (NVS, NOVN.EB) said its head of pharmaceuticals, David Epstein, is to leave the company amid a restructuring that will split his role in two. Novartis disclosed Mr. Epstein's departure as the company announced plans to separate its cancer unit from the rest of the pharmaceuticals business. ADRs rose 8 cents to $75.71.

Vodafone Group PLC (VOD, VOD.LN, VOD.JO), the world's second-largest mobile carrier behind China Mobile Ltd., reported its first full year of organic growth in both revenue and core earnings since 2008. The U.K.-based company said it was finally reaping benefits from "Project Spring," its recently completed two-year effort to improve and expand its network. ADRs rose 2.6% to $33.58.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

May 17, 2016 18:28 ET (22:28 GMT)

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