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ADRs Close Mostly Higher; BRF Trades Actively

International stocks trading in New York closed mostly higher on Friday.

The S&P/BNY Mellon index of American depositary receipts edged up 0.1% to 173.11. The European index gained 0.1% to 147.41. The Asian index increased 0.2% to 240.68.

Meanwhile, the Latin American index declined 0.5% to 226.96. And the emerging-markets index eased 0.1% to 417.82.

BRF SA was among the companies whose ADRs traded actively.

 

BP PLC is working on a plan to spin off its operations in Iraq into a stand-alone company, according to people familiar with the matter, as the oil giant shuffles its assets and investment plans in its pivot toward lower-carbon energy. The new company would hold BP's interest in Iraq's giant Rumaila oil field -- one of the world's largest -- and be jointly owned by China National Petroleum Corp., one of the British company's partners at the site, the people said. The new entity would hold its own debt, separate from BP, and distribute profits via dividends, the people added. BP's ADRs closed 0.1% higher at $27.54.

 

On the heels of meatpacker Marfrig Global Foods' disclosing it had become BRF's largest shareholder, rival meatpacker JBS is reportedly interested in buying the Brazilian food processor, O Globo reported. BRF's ADRs closed 4% higher at $5.72; and JBS, whose ADRs trade over the counter, fell 1.1% to $11.50.




      

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