By Anna Prior
International companies trading in New York closed higher
Monday, amid better-than-expected U.S. retail sales and economic
data from China.
The Bank of New York index of ADRs rose 0.9% to 126.46. Data
over the weekend showed China's trade surplus widened
more-than-expected as exports rose more-than-anticipated.
Separately, consumer prices in China rose in line with
expectations, while producer prices fell slightly more than
forecast.
Meanwhile, U.S. retail sales rose for the third straight month
in September, the Commerce Department reported, exceeding
economists' expectations.
The European index climbed 0.8% to 120.24.
Financial stocks added to the gains with France's Credit
Agricole SA (CRARY, ACA.FR) climbing 2.6% to $3.89 and BNP Paribas
SA (BNPQY, BNP.FR) up 2.9% to $25.53. U.K.-based Lloyds Banking
Group PLC (LYG, LLOY.LN) rose 3.2% to $2.59, while Barclays PLC
(BCS, BARC.LN) was up 3.6% to $15.31. Spain's Banco Santander SA
(SAN, SAN.MC) rose 1.7% to $7.36, while Germany's Deutsche Bank AG
(DB, DBK.XE) added 2.6% to $43.05.
U.K.-based miners, however, added pressure, tracking metal
prices lower. Rio Tinto PLC (RIO, RIO.LN) slipped 0.7% to $48.34
after Goldman Sachs cut the stock to neutral from buy, while Anglo
American PLC (AAUKY, AAL.LN) fell 1% to $14.47, as the bank
initiated coverage of the stock with a sell rating.
The Asian index added 1% to 119.36.
Shares of New Oriental Education & Technology Group Inc.
(EDU)--the largest provider of private educational services in
China--were upgraded to outperform by Oppenheimer, which said it
was encouraged by the progress of a Securities and Exchange
Commission investigation into the company's financial reporting as
well as its performance of late. "We expect [New Oriental] to
continue to take share in China's multi-billion-dollar private
education market and grow its EPS about the industry average," the
firm wrote in a research note. Shares rose 4.4% to $17.89.
The Latin American index rose 1% to 328.28 and the
emerging-markets index added 0.8% to 281.62.
Brazilian state-run energy company Petroleo Brasileiro S/A (PBR,
PETR3.BR, PETR4.BR), or Petrobras, will join efforts with
TNK-Brasil and a Brazilian oil start-up to study ways to develop
natural-gas fields in the remote Amazon rainforest, HRT said
Monday. The companies expect to have a timeline for the project in
30 days. Petrobras shares ended the day up 1.9% at $23.15.
Talks have broken down between South Africa's three top gold
producers and unions representing workers whose strikes have
hobbled production at their mines, the Chamber of Mines said
Monday. Gold Fields Ltd. (GFI, GFI.JO) fell 0.3% to $12.12, while
AngloGold Ashanti (AU, ANG.JO) fell 0.6% to $34.06. Harmony Gold
Mining Co. Ltd. (HMY, HAR.JO), meanwhile, edged up 0.5% to
$8.09.
-Write to Anna Prior at anna.prior@dowjones.com