ADR Shares End Higher; Telefonica, Ryanair Shares Active

International stocks trading in New York closed higher on Wednesday, with the Bank of New York index of American depositary receipts rising 0.4% to 157.20. The European index added 0.4% to 153.23, the Asian index edged up 0.1% to 154.25, the Latin American index climbed 1.9% to 317.44 and the emerging markets index rose 0.9% to 316.96. Among the companies with shares that actively traded were Telefonica SA (TEF, TEF.MC) and Ryanair Holdings PLC (RYAAY, RYA.DB, RYA.LN).

The board of Vivendi SA is slated to meet Thursday to discuss a EUR6.7 billion ($8.8 billion) offer for its Brazilian unit, GVT, by Spanish telecommunications giant Telefonica, amid expectations of a rival bid from Telecom Italia SpA (TI, TIA, TIT.MI). Telefonica shares edged up 0.6% to $15.98, while Telecom Italia shares climbed 4.1% to $11.35.

Ryanair will make a nonbinding offer for a stake in Cyprus Airways on Friday as Europe's biggest budget airline explores growth options. Shares rose 4% to $55.44.

Royal Dutch Shell PLC (RDSA, RDSA.LN) said Wednesday it had agreed to sell some of the oil blocks in Nigeria previously earmarked for disposal as the Anglo-Dutch oil group moves forward with its divestment program. Shares added 0.6% to $80.74.

The U.K. financial regulator has fined Royal Bank of Scotland Group PLC (RBS, RBS.LN) GBP14.47 million ($24 million) for "serious failings" related to the mortgage advice it gave customers, prompting the bank to write to thousands of borrowers to allow them to raise concerns. Shares edged up 0.7% to $12.14.

Shares of Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR), or Petrobras, rose after a strong showing by the opposition in Brazil's first televised presidential debate. Investors in Petrobras are keen for a change in leadership in Brazil, whose government they consider overly interventionist. Shares climbed 5.4% to $19.21.

Write to Anna Prior at [e-mail]