ADRs End Higher; Gold Mining Companies Rise

International stocks trading in New York closed higher on Wednesday.

The BNY Mellon index of American depositary receipts rose 0.5% to 118.38. The European index edged up 0.3% to 115.61, the Asian index improved 0.7% to 128.31, the Latin American index rose 1.4% to 169.57 and the emerging markets index increased 0.8% to 224.02.

Gold mining companies were among the companies with ADRs that traded actively.

Gold futures surged after the Federal Reserve left benchmark interest rates unchanged on Wednesday, briefly hitting $1,300 a troy ounce before giving up some gains. Among gainers, ADRs of AngloGold Ashanti Ltd. (AU, ANG.JO) rose 4.3% to $16.77, Gold Fields Ltd. (GFI, GFI.JO) increased 6.2% to $4.45 and Randgold Resources Ltd. (GOLD, RRS.LN) rose 3.9% to $95.97.

Alibaba Group Holding Ltd. (BABA) is coming under fire again from global brands for rampant counterfeits on its shopping platforms, after co-founder Jack Ma cast the Chinese e-commerce giant as the global leader in the battle against fake goods at an investor conference on Tuesday. ADRs rose 62 cents to $78.39.

Philippine Long Distance Telephone Co. (PHI, TEL.PH), or PLDT, said Wednesday it expects to spend around 10 billion pesos ($216 million) for a campus-type headquarters it is considering to build. The company said it would take around three years to complete the development if it proceeds with the project. ADRs rose 2.2% to $43.53.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

June 15, 2016 18:32 ET (22:32 GMT)

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