International stocks trading in New York closed lower Wednesday,
with the Bank of New York index of American depositary receipts
dropping 1.2% to 144.51. The European index fell 1.2% to 144.23,
the Asian index slipped 0.8% to 140.40, the Latin American index
declined 1.7% to 251.92 and the emerging markets index fell 1.5% to
252.92. Among companies with shares that actively traded were
Novartis AG (NVS, NOVN.VX) and Randgold Resources Ltd. (GOLD,
RRS.LN).
Novartis is exploring "unique structures" that may include joint
ventures or other types of collaboration for its smaller
businesses, Chief Executive Joe Jimenez said as the Swiss
pharmaceutical giant reported fourth-quarter earnings that narrowly
missed expectations. Shares slipped 0.4% to $79.27.
Randgold Resources said its Loulo-Gounkoto gold mining complex
is likely to beat a revised production target for 2013, driven by a
strong management team which is delivering on all its operational
objectives. Shares rose 3.7% to $70.54.
Barclays PLC (BCS, BARC.LN) became the fourth European bank to
make a financial warning, saying it will set aside an extra GBP330
million to cover litigation and regulatory charges in the fourth
quarter. Shares fell 0.9% to $18.16.
Germany's Deutsche Bank AG's (DB, DBK.XE) Co-Chief Executive
Juergen Fitschen confirmed the lender is on track to reach its
profitability targets and plans to strengthen its capital over the
next year as it grapples with cleaning up legacy problems including
a litany of lawsuits and the need for cultural changes. Still,
shares fell 2.1% to $49.53.
Oil major BP PLC (BP, BP.LN) said production has started at the
West Chirag platform on the Azeri-Chirag-Gunashli field in the
Azerbaijan sector of the Caspian Sea, completing the Chirag oil
project which was sanctioned in 2010. Shares edged down 0.4% to
$47.27.
Brazilian banking group Itau Unibanco Holding SA (ITUB,
ITUB3.BR, ITUB4.BR) confirmed it would take control of CorpBanca SA
(BCA, CORPBANCA.SN), Chile's fifth-largest bank by assets,
highlighting the increased interest of Brazilian lenders to expand
across stable markets in the region. Itau shares fell 3.6% to
$11.95, and CorpBanca shares dropped 16% to $16.35.
Royal Dutch Shell PLC (RDSA, RDSA.LN) said it is selling its 23%
interest in the Parque das Conchas (BC-10) project offshore Brazil,
to Qatar Petroleum International for $1 billion. Shares edged down
0.1% to $70.50.
Chinese online game developer Shanda Games Ltd. (GAME) said its
board created a special committee of independent directors to
evaluate a "go private" proposal for the company. Earlier this
week, the firm disclosed it received a nonbinding takeover bid from
a group led by its controlling shareholder that values the company
at $1.9 billion. Shares slipped 0.8% to $6.35.
Write to Anna Prior at anna.prior@wsj.com
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