ADRs End Higher; Baidu, Novartis Rise

By Anne Steele Features Dow Jones Newswires

International stocks trading in New York closed higher on Tuesday.

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Baidu Inc. (BIDU, K3SD.SG) and Novartis AG (NVS, NOVN.EB) were among the companies with ADRs that traded actively.

The BNY Mellon index of American depositary receipts rose 0.8% to 137.38. The European index also increased 0.8% to 130.17, the Asian index improved 1.1% to 154.57, the Latin American index edged 0.2% higher to 227.73 and the emerging markets index increased 0.9% to 279.26.

ADRs of Baidu shot up 3.9% to $186.99 after Netflix Inc., which has struggled to win government approval to operate in China, said it had struck a licensing deal with Chinese video-streaming platform iQiyi to show the U.S. company's original content in the country. IQiyi is a subsidiary of Baidu, China's most popular internet search engine.

ADRs of Novartis, meanwhile, ended 2.2% higher at $76.24 after the company posted solid quarterly results showing sales of its heart-failure drug Entresto are gaining momentum.

Write to Anne Steele at anne.steele@wsj.com.

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(END) Dow Jones Newswires

April 25, 2017 17:14 ET (21:14 GMT)