MT ArcelorMittal

International stocks trading in New York closed higher on Friday.

The BNY Mellon index of American depositary receipts rose 2.1%, to 138.53. The European index increased 1.6%, to 128.55. The Asian index increased 2.8%, to 160.69. The Latin American index rose 3.1%, to 243.03. And the emerging-markets index increased 3.5%, to 293.43.

ArcelorMittal SA (MT), Alibaba Group Holding Ltd. (BABA) and BP PLC (BP) were among those with ADRs that traded actively.

ArcelorMittal said Friday that it has received a binding offer from Liberty House Group for its Dudelange operation in Luxembourg and some of its finishing lines in Belgium. The deal is the final part of a divestment package agreed to by ArcelorMittal in order to gain approval from the European Commission for its acquisition of Italy's Ilva SpA, the company said. Liberty House Group had already agreed to buy ArcelorMittal's assets in Italy, Romania, the Czech Republic and Macedonia. ADRs of ArcelorMittal rose 1%, to $25.50.

Chinese e-commerce giant Alibaba reported a 54% rise in fiscal second-quarter revenue from the year-earlier period, driven by solid demand from Chinese consumers online, but the figure was short of analyst estimates. Its quarterly net income increased 13%, to 20.0 billion yuan ($2.9 billion), nearly double the 10.6 billion yuan that analysts had expected. The company also said it is cutting its full-year revenue forecast by 4% to 6%, and now expects to post 375 billion yuan to 383 billion yuan in revenue. ADRs of Alibaba fell 2.4%, to $147.59.

The Nigerian National Petroleum Corporation has signed an agreement to exchange crude oil for gas with BP Oil International Ltd., the trading arm of BP. Under the agreement, the NNPC will exchange crude oil with BP for the supply of petroleum products for a period of six months, according to a statement on Thursday. The latest agreement will represent 20% of the NNPC's total gas supply under its direct sale-direct purchase agreement, which allows the corporation to exchange crude oil with international oil traders for imported petroleum products. The volume of crude oil and gas to be exchanged as part of the agreement wasn't disclosed. ADRs of BP fell 2.5%, to $41.60.

Write to copydesk@dowjones.com

(END) Dow Jones Newswires

November 02, 2018 16:55 ET (20:55 GMT)

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