ADR Shares End Higher; National Bank of Greece Trades Actively

International stocks trading in New York closed higher on Friday. The BNY Mellon index of American depositary receipts improved 0.82% to 147.19. The European index rose 1.03% to 145.03; the Asian index gained 0.48% to 153.23;the Latin American index edged up 0.14% to 226.72; and the emerging markets index improved 0.44% to 270.43. Among the companies with shares that actively traded was National Bank of Greece SA (NBG, ETE.AT).

Eurozone member countries approved a four-month extension on Greece's bailout on Friday, provided Athens submits by Monday details on the economic changes and budgetary measures it plans to take, Austria's finance minister Hans Jörg Schelling said. The four-month extension, short of the six months Greece had requested Thursday, strengthens the hand of the country's creditors in negotiations for a follow-up deal. National Bank of Greece jumped nearly 22% to $1.96, while Alpha Bank AE (ALBKY, ALPHA.AT) and Eurobank Ergasias SA (EGFEY, EUROB.AT), which trade over the counter, rose 16% and 13%, respectively.

Federal prosecutors in Brazil said Friday they are seeking roughly $1.5 billion in compensation from six companies accused of paying bribes to state-run oil firm Petróleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR), and are looking to ban those companies from government contracts, the latest step in a corruption scandal that has rattled Brazil's biggest construction firms. Shares closed up 0.30% to $6.66.

Telecom Italia SpA's (TI, TIA, TIT.MI) Chief Executive Marco Patuano said on Friday the company decided against a deal to integrate its Brazilian unit TIM Participações SA (TSU, TIMP3.BR) with Brazilian competitor Oi SA (OIBR, OIBR4.BR, OIBRC) when it became evident it would be too complex and not add enough value. Oi's shares fell 7% to $2.29, while TIM Brasil's shares fell 4% to $21.60.

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