BP BP Plc

International stocks trading in New York closed higher on Monday.

The BNY Mellon index of American depositary receipts rose 1.2% to 137.64. The European index increased 0.9% to 127.20. The Asian index rose 1.6% to 161.98. The Latin American index rose 1.1% to 235.17. And the emerging-markets index rose 1.6% to 295.92.

GlaxoSmithKline PLC was among those with ADRs that traded actively.

GlaxoSmithKline PLC on Monday said it would buy cancer-focused drug company Tesaro Inc. for about $4.16 billion, positioning the health-care giant in a promising, but fiercely competitive, area of medicine. ADRs fell 8% to $38.61.

Unilever PLC has agreed to buy malted-milk drink brand Horlicks from GlaxoSmithKline PLC as part of a $3.75 billion deal that gives the Anglo-Dutch giant exposure to India's fast-growing nutritional-drinks market. The acquisition of GSK Consumer Healthcare India will be Unilever's largest since 2011, when it agreed to buy shampoo maker Alberto Culver for roughly the same price. It marks a diversion from the company's strategy under outgoing Chief Executive Paul Polman to pursue smaller deals. Unilever ADRs closed 0.1% higher at $54.32.

Royal Dutch Shell PLC plans to set short-term carbon-emissions targets and link them to executive pay, the company said Monday. The decision, after months of investor pressure, marks a step toward delivering on ambitious long-term climate goals by one of the world's biggest oil companies, though details of Shell's exact plans remain vague. Class B ADRs rose 3% to $63.86.

Oil notched its best day in more than five months on Monday, bolstered by expectations for production cuts and a truce in the trade dispute between the U.S. and China. Among the oil majors that traded actively were BP PLC, which rose 2.1% to $41.19, and Total SA, up 2.4% to $56.96.

(END) Dow Jones Newswires

December 03, 2018 17:58 ET (22:58 GMT)

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