By Nathalie Tadena
International companies trading in New York closed slightly
higher after weaker-than-expected U.S. jobs data raised concerns
that the Federal Reserve may delay its anticipated tapering of bond
purchases.
The Bank of New York index of ADRs rose 0.6% to 139.58.
The U.S. economy added 169,000 jobs in August, the Labor
Department said Friday, below economists' expectations for a
175,000 gain. The Labor Department also revised its July payroll
reading down to 104,000, making July's rate the lowest in more than
a year. The unemployment rate ticked down to 7.3% in August from
7.4% a month earlier, though fewer people were looking for
work.
The jobs report is a key gauge of the labor market, and a weak
number could increase speculation the Federal Reserve will delay
the anticipated tapering of its $85-billion-a-month asset
purchases.
The European index edged up 0.6% to 134.45.
Shares of U.K.-listed oil and gas explorer Tullow Oil PLC
(TUWOY, TLW.LN) gained 3.6% after the oil-exploration firm said the
Wisting Central well has made the first ever oil discovery in the
Hoop-Maud Basin in the Barents Sea. Tullow shares rose 4.5% to
$8.37.
Ericsson (ERIC), the Swedish network gear vendor, said Friday
that Spanish telecommunications provider Telefonica S.A.(TEF,
TEF.MC) had selected Ericsson to build their 4G/LTE Network in
Madrid and Barcelona. The value of the deal wasn't disclosed.
Ericsson's shares were up 4.6% to $13.11, while Telefonica's shares
gained 1.5% to $14.20.
The Asian index increased 0.4% to 142.32, while the Latin
American index gained 1.7% to 278.57.
Shares of energy companies in China and South America closed
higher as crude-oil prices climbed 2% Friday to a 28-month high
amid heightened anxieties over the U.S. and Russian impasse over
Syria.
Shares of PetroChina Co. (PTR, 0857.HK), China's largest energy
producer, rose 1.2% to $112.68, while China Petroleum &
Chemical Corp. (SNP, 0386.HK) shares increased 1.3% to $77.94 and
CNOOC Ltd. (CEO, 0883.HK) shares advanced 1.1% to $205.64.
Brazil's state-run energy company Petroleo Brasileiro SA (PBR,
PETR4.BR), or Petrobras, closed 0.8% higher at $14.67, while
Petrobras Argentina SA (PZE, PESA.BA) shares climbed 2.1% to
$5.28.
The emerging markets index advanced 1.1% to 265.56.
A large number of striking gold mine workers in South Africa
have accepted a revised wage offer, bringing an end in sight to
industrial action that had cut into production. Shares of AngloGold
Ashanti (AU, ANG.JO), which confirmed it made an offer to its
unionized employees in South Africa, gained 4% to $14.02. Gold
futures also increased Friday.
Write to Nathalie Tadena at nathalie.tadena@wsj.com
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