Latin American stocks that trade on U.S. markets traded higher on Thursday, with shares of Brazil's Ambev seeing the biggest gains after parent company InBev SA launched a $46 billion bid for U.S. brewer Anheuser-Busch Cos.
The Bank of New York Latin America ADR Index rose 5.10 points, or 1.1 percent, to 462.06. ADRs, or American Depositary Receipts, are securities designed to allow U.S. investors to trade shares of companies based overseas.
AmBev, whose full name is Companhia de Bebidas Das Americas, surged $5.79, or 9 percent, to $70.19, shrugging off a downgrade from a Credit Suisse analyst.
InBev offered $65 per share _ an 11.3 premium to Anheuser-Busch's Wednesday closing price _ for the iconic maker of Budweiser, Bud Light and other brands in a bid that would create the world's largest brewer.
Petrochemicals maker Braskem SA gained $1.06, or 6.5 percent, to $17.33.
Beverage bottler Fomento Economico Mexicano SAB de CV added $1.49, or 3.6 percent, to $43.39.
Shares of Chilean bottler Embotelladora Andina SA led the declining stocks, falling 51 cents, or 2.8 percent, to $17.49.
Chilean fund administrator Administradora de Fondos de Pensiones Provida SA declined 78 cents, or 2.7 percent, to $28.27.
Mexico's Grupo TMM SAB, which provides maritime shipping services, lost 4 cents, or 2.2 percent, to $1.81.
Broader ADR markets edged higher. The Bank of New York Composite ADR Index lost 0.15 points to 170.26.
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