ADRs Trade Higher in New York; PetroBras Trades Actively

International stocks trading in New York gained on Wednesday.

The BNY Mellon index of American depositary receipts rose 0.4% to 145.21. The European index increased 0.4% to 135.86. The Asian index improved 0.3% to 172.15 and the Latin American index rose 1.4% to 213.92. The emerging markets index increased 0.5% to 303.54.

The ADRs for Petroleo Brasileiro SA, also known as PetroBras, were among the most actively traded ADRs Wednesday, rising 2.2% to $10.49. The ADRs rose as prices for brent crude, the global benchmark, increased 3% Wednesday to $74.78 a barrel. Other oil company ADRs also advanced: the ADR for PetroChina Company Limited was up 1.9%; the ADRs of Royal Dutch Shell PLC gained 1.2%; and BP PLC's ADRs were up 1.2%.

The ADRs for Momo Inc., a Beijing-based social networking company, also actively traded on Wednesday, gaining 8.6% to $43.96 after reporting its second-quarter results. The company said for the period revenue jumped 58% from the year earlier to $494.3 million, easily beating the average analyst estimate on FactSet of $480 million. It also reported an adjusted profit of $140.2 million, almost double the amount during the second quarter of 2017. Monthly active users in June rose 18% to 108 million.

Write to Micah Maidenberg at [e-mail]

(END) Dow Jones Newswires

August 22, 2018 17:50 ET (21:50 GMT)

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