ADR Shares End Higher; HSBC Shares Active

International companies trading in New York closed mostly higher Monday, with the Bank of New York index of American depositary receipts adding 0.6% to 151.45. The European index rose 0.8% to 152.38, the Asian index added 0.3% to 144.36, the Latin American index was flat at 259.92, and the emerging-markets index was essentially flat at 263.77. Among the companies with shares that actively traded was HSBC Holdings PLC (HSBC, HSBA.LN).

HSBC said flat revenue and higher operating costs weighed on profit growth last year, adding to concerns about the bank's prospects this year as some of its significant markets cool and capital requirements rise. Shares slipped 2.4% to $53.04.

Gold Fields Ltd. (GFI, GFI.JO) reported an 8% decline in 2013 mineral resources primarily due to the impact of gold prices and mining depletion during the year. Shares of the South African gold miner fell 0.8% to $3.99.

Deutsche Bank AG (DB, DBK.XE) plans to cut its U.S. assets by around a quarter to $300 billion in the coming years to comply with new rules for foreign-bank subsidiaries published by the U.S. Federal Reserve last week. Germany's largest lender aims to reassign activities from the U.S. to other regions like Europe or Asia, a spokesman for the bank told The Wall Street Journal, confirming statements Chief Financial Officer Stefan Krause made to the Financial Times. Shares rose 1.6% to $48.88.

Nokia Corp. (NOK, NOK1V.HE) took the wraps off its low-end Nokia X smartphone, the first in a new family of phones running Google Inc.'s (GOOG) Android software designed to regain Nokia's eroding position in developing markets. Priced at 89 euros ($122) excluding carrier subsidies and taxes, the smartphone hits an attractive pricing level in places such as India, Indonesia and Russia, and fills a hole in Nokia's product portfolio. Shares rose 2.1% to $7.62.

Vodafone Group PLC (VOD, VOD.LN), which is locked in a $2 billion tax fight with the Indian government, has asked for arbitration proceedings under a bilateral investment treaty, a senior government official said Monday. The latest twist in the yearslong battle came days after the U.K.-based telecommunications company criticized what it said were inordinate delays in negotiations aimed at resolving the dispute. Shares added 3.9% to $41.20.

Credit Suisse Group AG (CS, CSGN.VX) Chief Executive Brady Dougan is scheduled to testify Wednesday at a U.S. Senate subcommittee hearing on offshore tax evasion, a move that comes as the Swiss bank seeks to settle allegations it helped Americans evade their obligations. Shares rose 0.9% to $31.74.

Mexican telecommunications heavyweight America Movil SAB (AMX, AMX.MX) said it may hold talks with the Austrian government about forming a shareholder syndicate agreement, a potential tie-up that could indicate a bid for control of telecommunications company Telekom Austria AG (TKAGY TKA.VI). America Movil shares slipped 1.5% to $19.84.

Write to Anna Prior at [e-mail]

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