By Anna Prior
International companies trading in New York closed mixed Monday
as investors seemed to process a mixed round of euro-zone data and
worried German Chancellor Angela Merkel will struggle to form a
coalition government after Sunday's elections.
The Bank of New York index of ADRs edge up 0.1% to 145.28.
Ms. Merkel looks set to win a third term as Germany's chancellor
but will need to form a new coalition after her Christian
Democratic Union fell short of an absolute majority in Germany's
lower house of parliament.
Meanwhile, Markit's preliminary September composite purchasing
managers index for the euro zone rose to 52.1, topping expectations
of 51.9. Strength in the service sector helped offset a slight
deceleration in manufacturing.
In China, preliminary manufacturing PMI for September rose to a
six-month high of 51.2 from August's 50.1.
The European index slipped 0.2% to 139.35.
Contributing to the decline were shares of U.K.-based banks,
including Barclays PLC (BCS, BARC.LN), which fell 2% to $17.10, and
Lloyds Banking Group PLC (LYG, LLOY.LN), which dropped 1.8% to
$4.79.
Meanwhile, shares of Total SA (TOT, FP.FR) rose after the French
oil major said it anticipates a strong increase in cash flow from
upstream startups and downstream restructuring. Shares climbed 1%
to $57.20.
The Asian index added 0.4% to 148.40.
Suntech Power Holdings Co. (STP)(K3ND.SG) said it received
notice last week that an Italian court issued a ruling to seize
additional solar parks constructed by a fund controlled by the
Chinese solar company. Still, shares edged up 0.8% to $1.31.
The Latin American index jumped 1.2% to 299.00 and the emerging
markets index climbed 0.9% to 279.14.
Brazilian banking and financial sector shares rose after Credit
Suisse raised its recommendation for key local players Banco
Santander (Brasil) SA (BSBR, SANB11.BR) and Banco do Brasil SA
(BDORY, BBAS3.BR) to outperform from neutral. Santander shares rose
2.5% to $6.67, while retail bank Itau Unibanco Holding SA (ITUB,
ITUB4.BR) added 1.1% to $14.32 and Banco Bradesco SA (BBD,
BBDC4.BR) rose 0.9% to $14.02.
Meanwhile, the materials sector posted gains amid upbeat Chinese
industrial data, as China's industrial purchasing manager's index
rose in September. Mining giant Vale SA (VALE, VALE5.BR) rose 1.6%
to $16.43, while steelmaker Gerdau SA (GGB, GGBR4.BR) rose 2% to
$7.62.
Write to Anna Prior at anna.prior@wsj.com