ADR Shares End Mixed; Anheuser-Busch InBev Shares Active

International stocks trading in New York closed mixed Wednesday, as the Bank of New York index of American depositary receipts lost 0.4% to 150.34. The European index dropped 0.5% to 151.37, the Asian index added 0.1% to 143.66, the Latin American index fell 0.5% to 254.88 and the emerging markets index added 0.3% to 261.64. Among the companies with shares that actively traded were Anheuser-Busch InBev NV (BUD, ABI.BT) and Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR).

Anheuser-Busch InBev, the brewer of Budweiser, Stella Artois and Bud Light, on Wednesday reported a solid increase in fourth-quarter profit, driven in part by cost cutting at Grupo Modelo, the Mexican brewer it took control of last year. Shares rose 1.6% to $103.75.

Brazilian state-run energy company Petrobras expects its subsidies for gasoline and diesel to be eliminated over the next two years, Chief Executive Maria das Gracas Foster said Wednesday. The company after market close on Tuesday said its fourth-quarter net profit declined as losses continued from gasoline and diesel sales, while the firm trimmed its latest five-year investment program. Shares fell 2.3% to $11.07.

The chief executive of Credit Suisse Group AG (CS, CSGN.VX) on Wednesday told U.S. lawmakers the bank "regrets very deeply" having aided U.S. tax evasion, but said the misconduct was limited to a handful of employees at Switzerland's second-largest bank. Shares fell 2.4% to $30.86.

Delhaize Group (DEG, DELB.BT) said Wednesday it is selling its Bulgarian operations to AP Mart for an undisclosed sum. The Belgian international food retailer added that the deal is subject to regulatory approval and expected to complete in the second quarter of this year. Shares edged up 0.1% to $71.03.

Veolia Environnement SA's (VE, VIE.FR) board on Wednesday endorsed Chairman and Chief Executive Antoine Frerot, marking the second time in two years the head of the water and waste utility has successfully resisted pressure to step down. Subject to shareholder approval in May, the board said it would appoint Mr. Frerot for four more years. Shares fell 1% to $17.51.

Banking giant HSBC Holdings PLC (HSBC, HSBA.LN) said Wednesday it is selling SB JSC HSBC Bank Kazakhstan to JSC Halyk Bank for $176 million in cash, based upon a net asset value of $160 million. The sale, which is subject to regulatory approvals and other conditions, is expected to complete during the fourth quarter of 2014, HSBC added. Shares edged down 0.2% to $52.29.

Write to Anna Prior at [e-mail]

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