International stocks trading in New York were mixed on Thursday.
The Bank of New York index of American depositary receipts eased
0.03% to 155.84. The European index edged up 0.07% to 155.57, the
Asian index improved 0.03% to 147.38, the Latin American index fell
1.1% to 292.42 and the emerging markets index declined 0.5% to
288.43. Among the companies with shares that actively traded was
Infosys Ltd. (INFY, 500209.BY).
Infosys appointed its first outsider to head the company, hoping
new blood will help in its struggle to stay competitive, as it
tries to evolve from a low-cost outsourcing company into a global
technology brand. India's second-largest software exporter said
Vishal Sikka, a veteran of German software giant SAP AG SAP AG
(SAP, SAP.XE), will take over as managing director and chief
executive. Infosys shares fell 2% to $53.69.
Morgan Stanley's metals and minerals commodity economist Joel
Crane cut his iron-ore price assumptions for 2014 to 2019, citing a
"faster and more pronounced mean reversion in the iron- ore price
in reaction to accelerating supply growth than we anticipated." The
firm's analysts cut price targets and earnings estimates for Anglo
American PLC (AAUKY, AAL.LN), BHP Billiton PLC (BBL, BLT.LN) and
Rio Tinto PLC (RIO, RIO.LN). BHP Billiton shares fell 1.7% to
$62.35. Rio Tinto shares dropped 3.4% to $51.30.
Write to Tess Stynes at tess.stynes@wsj.com
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