By Imani Moise
International stocks trading in New York closed higher on the first trading day of the new year.
BP PLC (>> BP plc) was among the companies with ADRs that traded actively Tuesday.
The BNY Mellon index of American depositary receipts rose 1.6% to 155.68. The European index increased 1% to 143.76, the Asian index improved 2.4% to 184.61, the Latin American index rose 3.4% to 257.31 and the emerging markets index increased 3.3% to 336.57.
ADRs of BP PLC edged 0.8% higher to $42.38 after the bank said it would record a $1.5 billion charge in the fourth quarter related to the new tax laws but said longer-term effects of a corporate tax cut would be positive.
ADRs of Gerdau S.A. (>> Gerdau SA) rose 5.91% to $3.94 after Commercial Metals Co. (>> Commercial Metals Company) said it agreed to buy certain U.S. rebar steel mill and fabrication assets from the Brazilian steelmaker.
ADRs of Tata Motors Ltd. (>> Tata Motors Limited) rose 3.8% to $34.32 after the company reported commercial-vehicle sales surged 62% on-year in December.
ADRs of Royal Dutch Shell PLC (>> Royal Dutch Shell Plc) rose 2% to $68.04 after the company said the sale of A/S Dansk Shell to Dansk Olieselskab AS has terminated and won't complete.
Write to Imani Moise at [email protected]