ADR Shares End Higher; Chinese Oil Majors' Shares Rise

International stocks trading in New York closed higher on Tuesday. The BNY Mellon index of American depositary receipts rose 0.2% to 145.96. The European index increased 0.2% to 143.74, the Asian index edged up 0.1% to 151.09, the Latin American index increased 0.4% to 230.01 and the emerging markets index improved 0.05% to 272.04. Among the companies with shares that actively traded were major Chinese oil companies.

The Wall Street Journal reported China is considering forging megamergers among its big state oil companies, seeking to create new national champions able to take on the likes of Exxon Mobil Corp. and produce greater efficiencies at a time of low prices. The Journal reported that one involves potentially combining the country's largest oil companies, China National Petroleum Corp., or CNPC, and its main domestic rival, China Petrochemical Corp., or Sinopec. Other options look at merging two other major energy companies, China National Offshore Oil Corp., or Cnooc, and Sinochem Group, the Journal stated. Shares of PetroChina Co. (PTR, K3OD.SG, 601857.SH, 0857.HK), rose 1.9% to $113.99; Cnooc Ltd. (CEO) increased 1.4% to $145.22; China Petroleum & Chemical Corp. (SNP) advanced 3.7% to $83.12.

Shares in construction firm Empresas ICA SAB (ICA, ICA.MX) fell a day after Mexico's national oil company Pemex announced it was postponing several refinery projects as the result of budget cuts approved by its board in response to low oil prices. Empresas shares fell 7.4% to $3.26.

Telecom operator Orange SA (ORAN, ORA.FR) said sales and profits will continue to decline this year, but less sharply than in previous years, as the road to recovery in the France-based telecom company's intensely competitive domestic market is under way. Shares fell nearly 1% to $18.34.

Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) agreed to a licensing agreement that lets it promote and distribute Eagle Pharmaceuticals Inc.'s (EGRX) cancer treatment EP-3102--a potential competitor to Teva's own treatment--in the United States. Teva shares rose 1% to $57.

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