CS Credit Suisse Group

International stocks trading in New York closed higher on Wednesday.

The BNY Mellon index of American depositary receipts rose 2.1% to 155.12. The European index improved 1.9% to 141.08. The Asian index rose 2.2% to 186.50. The Latin American index rose 2.8% to 274.74, and the emerging-markets index increased 2.8% to 343.59.

Baidu Inc. (BIDU, K3SD.SG) and Criteo SA (CRTO) were among those with ADRs that traded actively.

Baidu's ADRs rose 5% to $235.89 a day after the Chinese search giant reported strong quarterly results that analysts said showed the company's progress on two fronts--providing a steady stream of revenue while it transitions to new businesses such as self-driving cars, and moving past a 2016 medical-advertising scandal that forced it to curtail advertising for health care. Baidu also said it had filed preliminary paperwork for its iQiyi video-streaming service to debut on a U.S. stock exchange, which would help the unit raise money as it pushes to stay ahead in the fiercely competitive sector.

Credit Suisse Group AG (CS) posted its third-straight annual loss Wednesday as the U.S. corporate tax overhaul forced the Swiss banking giant to write down more than $2 billion in deferred-tax assets and erased what would have been a healthy return to profit. Before taxes, income for 2017, excluding the U.S. tax-law one-time hit, jumped from the previous year on strong revenue growth in its wealth management arm. ADRs rose 6% to $18.66.

Criteo's ADRs rose 29% to $30.25 after the company reported better-than-expected financial results for the December quarter and delivered a strong outlook.

(END) Dow Jones Newswires

February 14, 2018 18:04 ET (23:04 GMT)

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