ADRs End Higher; Embraer Trades Actively

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International stocks trading in New York closed higher on Thursday.

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The BNY Mellon index of American depositary receipts rose 0.7% to 152.80. The European index improved 0.7% to 141.73. The Asian index increased 0.6% to 180.87. The Latin American index rose 1.3% to 245.94. And the emerging-markets index increased 0.9% to 324.60.

Embraer SA (ERJ, EMBR3.BR) was among those with ADRs that traded actively.

Rosneft Oil Co. said Thursday that it would partner with BP PLC (BP, BP.LN) to develop gas resources in the Yamalo-Nenets region of northern Russia. Rosneft said the two companies would develop subsoil resources in the Kharampurskoe and Festivalnoye license areas, with total geological reserves exceeding 880 billion cubic meters of gas. Rosneft would take a 51% stake and BP 49%. ADRs in BP rose 1.8% to $41.68.

Boeing Co. is in takeover talks with Brazilian aircraft maker Embraer, a move that would give Boeing a presence in the regional jet market and help it counter a recent move by Airbus SE (EADSY, AIR.FR) to strike a similar deal with Canada's Bombardier Inc. Following a Wall Street Journal report on the talks, the companies put out a joint statement saying they are "engaged in discussions regarding a potential combination, the basis of which remains under discussion." ADRs of Embraer set a 52-week high of $26.25 before closing at $24.42, up 22% for the day; ADRS of Airbus, which trade over the counter, closed up 0.3% at $25.17.

Nokia Corp. (NOK, NOKIA.HE) said Thursday it has signed a multi-year patent license agreement with China's Huawei Technologies Co. Details of the deal are confidential but Nokia said it will disclose its total patent licensing revenue in its quarterly financial reports. ADRs rose 3.7% to $4.79.

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Royal Dutch Shell PLC (RDSB, RDSB.LN) said Thursday that it has agreed to acquire U.K. household-energy and broadband provider First Utility Ltd. for an undisclosed price. First Utility's German subsidiary is also included in the deal, the company said. Shell will continue to supply wholesale gas and electricity to energy retailers in the U.K. and Europe, including First Utility. A previous licensing agreement in 2015 allowed First Utility to operate in the German household-energy sector under the Shell brand. ADRs rose 1.2% to 67.22.


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December 21, 2017 17:57 ET (22:57 GMT)