ADR Report: Shares Close Higher On Stronger Economic Data

Date : 12/15/2011 @ 4:48PM
Source : Dow Jones News
Stock : Sonosite, Inc. (MM) (SONO)
Quote : 54.01  0.0 (0.00%) @ 2:05AM

ADR Report: Shares Close Higher On Stronger Economic Data

Coca Cola (NYSE:KO)
Historical Stock Chart

5 Years : From Jan 2013 to Jan 2018

Click Here for more Coca Cola Charts.

International companies trading in New York closed higher Thursday, in line with the broader markets, as investors took heart from stronger U.S. economic data.

The Bank of New York Index of ADRs gained 0.4% to 116.30, buoyed by European stocks after a successful Spanish bond auction.

Credit Suisse Group AG (CS, CSGN.VX) announced a sweeping reorganization of its foreign-exchange business, including the departure of its head of FX sales, Martin Wiedmann. The bank's emerging-markets business, which has up to now encompassed both debt and currencies, will combine with the firm's foreign-exchange business in the first quarter of next year. Shares advanced 2.6% to $23.16.

Lloyds Banking Group PLC's (LYG, LLOY.LN) returning chief executive, Antonio Horta-Osorio, on Thursday trebled his stake in the bank, buying up 150,000 ADRs, the equivalent of 600,000 shares. The trade comes just a day after Lloyds confirmed that Horta-Osorio would be returning to his post at the 41%-government owned bank in January after his sudden departure in November due to exhaustion. Shares increased 2.1% to $1.47.

The European index climbed 0.8% to 108.28.

British drug giant AstraZeneca PLC's (AZN, AZN.LN) key heart drug Brilique has won a final recommendation from medical evaluation authorities in Germany under the country's new, and more rigorous, drug pricing regime. Shares rose 0.8% to $45.50.

Vodafone Group PLC (VOD, VODPF, VOD.LN) shares gained 0.7% to $27.24 after the telecoms giant announced that it has purchased 11.7 million shares on the London Stock Exchange via Citigroup Global Markets U.K. Equity Limited.

The Latin American index edged up a fraction to 322.34.

Mexican soft-drink company Coca-Cola Femsa (KOF, KOF.MX) said it has agreed to acquire and merge the bottling operations of Grupo Fomento Queretano, in its third such deal this year as it continues with consolidation of the Coca-Cola Co. (KO) bottling system in Mexico. Shares gained 2.1% to $87.91.

Weighing on the gains, Barclays Capital said Brazilian miner Vale (VALE, VALE.BR) is increasingly likely to suffer a negative outcome in its battle over mining royalties payments with the federal government. Nonetheless, Vale is likely to get a discount on the total $4.7 billion it apparently owes the government, and isn't expected to have to make an immediate cash disbursement, according to Barclays. A final agreement on the dispute between Vale and national mining department DNPM is expected in February. Vale shares dropped 0.7% to $20.99.

The Asian index closed 0.3% lower at 111.60, and the emerging markets index dropped 0.3% to 267.58.

Olympus Corp. (OCPNY, 7733.TO) said the dividends it paid in recent years exceeded the amounts legally allowed under revised financial statements, adding that it will look into the matter further, The Nikkei reported in its Friday morning edition. Shares tumbled 20% to $12.85.

Fujifilm Holdings Corp. (FUJIY, 4901.TO) reached an agreement to buy U.S. medical equipment maker SonoSite Inc. (SONO) for $995 million, in the latest instance of Japanese companies hunting down overseas peers to make up for their dim prospects at home. Shares slipped 1.5% to $23.33.

South Africa's miners also lost ground as gold futures settled at a fresh five-month low. Harmony Gold Mining Co. (HMY, HAR.JO) tumbled 4.9% to $11.88, Drdgold Ltd. (DROOY, DRD.JO) closed 3.9% lower at $5.93, and AngloGold Ashanti Ltd. (AU, ANG.JO) slid 3.4% to $41.24.

-By Ian Thomson, Dow Jones Newswires; 212-416-2314;

Latest SONO Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.