ADR Shares End Mostly Higher; Veolia Shares Active

International stocks trading in New York closed mostly higher Tuesday, with the Bank of New York index of American depositary receipts rising 0.6% to 151.21. The European index rose 0.8% to 151.05, the Asian index increased 0.3% to 141.80, and the emerging-markets index jumped 1.1% to 279.28. The Latin America index, however, slipped 0.2% to 288.88. Among the companies with shares that actively traded was Veolia Environnement (VE, VIE.FR).

Baidu Inc.'s (BIDU) Qunar travel website is in discussions to tie up with Ctrip.com International Ltd. (CTRP), Bloomberg reported Tuesday, citing two people with direct knowledge of the talks. A range of possibilities including a full merger to a partnership are under discussion, these people said, adding that talks are still at an early stage.

Barclays analyst Jamie Yeh initiated coverage on the solar sector, and listed Chinese solar panel maker JinkoSolar Holding Co. (JKS) as its top pick. The bank called Jinko one of the most cost-effective solar module makers in China, and also touted efforts to diversify into Japan and the U.S. and develop downstream solar farm projects.

Brazilian state-owned energy giant Petroleo Brasileiro SA (PETR3.BR, PBR), or Petrobras, has secured a loan of 4 billion reais ($1.82 billion) from private bank Banco Bradesco SA to finance its refinery projects, a source close to the transaction said.

Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) said it won U.S. Food and Drug Administration approval for the generic equivalent of Lovaza, a treatment used to lower very high fat levels in adults. Teva expects to begin to ship the generic offering immediately.

Veolia Environnement, the world's largest water and waste collection utility, seeks to double the revenue it gets from treating water and waste for the mining and metal industries by 2020. Veolia already provides water treatment for many of the world's largest mines, Chief Executive Officer Antoine Frerot told reporters in a presentation Tuesday. Mining operations are often located in faraway areas where water is scarce and the risk of pollution is high, he said.

Write to John Kell at [e-mail]

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