ADRs End Higher; Momo, Baozun Trade Actively

Features Dow Jones Newswires

International stocks trading in New York were higher on Tuesday.

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Momo Inc. (MOMO) and Baozun Inc. (BZUN) were among the companies with ADRs that traded actively.

The BNY Mellon index of American depositary receipts rose 0.73% to 144.21. The European index edged up 0.57% to 133.74, the Asian index climbed 0.96% to 168.88, the Latin American index advanced 1.25% to 243.18 and the emerging markets index rose 1.3% to 314.63.

Momo, which operates a mobile social networking platform in China, reported a higher profit in the second quarter, but reported its expenses rose 189% as it share more money with broadcasters, increased spending on marketing and had higher personnel costs. ADRs in Momo fell more than 20% to $36.02. ADRs in Baozun, an e-commerce services firm in China which also reported quarterly results Tuesday, fell more than 24% to $26.23.

Brazil announced plans to reduce its 63% stake in the country's largest electric utility--Centrais Eletricas Brasileiras SA (EBR), or Eletrobras. The announcement helped lift Brazil's stock market to a six-and-a-half year high, as the transaction would likely amount to the country's largest privitization deal since it relinquished control of mining firm Vale SA, aircraft manufacturer Embraer SA and telecommunications monopoly Telebras in the 1990s. ADRs in Eletrobras rose 49% to $6.61.

(END) Dow Jones Newswires

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August 22, 2017 19:01 ET (23:01 GMT)