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CIGC Companhia Energetica de Minas Gerais - Cemig

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Share Name Share Symbol Market Type
Companhia Energetica de Minas Gerais - Cemig NYSE:CIGC NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

ADRs End Higher After Fed Decision

20/03/2013 9:31pm

Dow Jones News


Comp Energ Cemig (NYSE:CIGC)
Historical Stock Chart


From Jul 2019 to Jul 2024

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   By Mia Lamar 
 

International companies trading in New York closed higher Wednesday after the Federal Reserve reiterated its commitment to support the economy for the foreseeable future.

The Bank of New York index of ADRs rose 0.6% to 136.20.

The Fed said it would stick to its bond buying plans as part of its attempt to support the economic recovery, as officials there expect a slightly slower pace of growth and lower unemployment over coming years.

European banking shares, which were among the biggest decliners in recent days' action, recouped some losses, with shares of France's Credit Agricole SA (CRARY, ACA.FR) ending 2.1% higher at $4.30 and Spain's Banco Bilbao Vizcaya (BBVA, BBVA.MC) rising 2.5% to $9.56.

The Asian index rose 1% to 136.65.

Adding to the gains was Spreadtrum Communications Inc. (SPRD) after Jefferies upgraded shares of the China-based semiconductor company to buy from hold, citing stronger demand in China's smartphone market. Shares jumped 7.8% to $19.69.

Meanwhile, Suntech Power Holdings Co. (STP) shares were halted as the Chinese solar panel maker began bankruptcy proceedings in China. Shares ended Tuesday at 59 cents.

The European index rose 0.6% to 128.47.

Shares of Ryanair Holdings PLC (RYAAY, RYA.LN, RYA.DB) led Ireland's gainers a day after the airline secured a new deal for Boeing Co. (BA) jets at around the same price as its last big order eight years ago, cementing its reputation as the global benchmark for low-cost carriers. Shares rose 4.1% to $43.23 Wednesday, adding to Tuesday's 3% gain.

The Latin American index ended about flat at 324.41 and the emerging-markets index gained 0.5% to 280.49.

Brazil's national electric regulator on Wednesday said that the regulatory asset base of the Cia Energetica de Minas Gerais (CIG, CIGC, CMIG4.BR) distribution assets, used to calculate future prices for services, totaled 5.1 billion Brazilian reais ($2.6 billion), much lower than what investors were expecting. Shares dropped 13% to $11.37.

Write to Mia Lamar at anna.prior@dowjones.com

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