ADR Shares End Higher on Upbeat China, Europe Data

   By Anna Prior 
 

International companies trading in New York closed higher Monday amid upbeat data from China and Europe.

The Bank of New York index of ADRs added 0.4% to 149.11.

China's official nonmanufacturing purchasing managers index rose from September to reach 56.3 in October, according to data released over the weekend.

Meanwhile, data provider Markit said its euro-zone manufacturing purchasing managers index for October edged up to 51.3 from September's 51.1, matching expectations.

The European index rose 0.4% to 144.35.

Adding to gains was HSBC Holdings PLC (HBC, HSBA.LN), which reported a 28% rise in third-quarter net profit. Shares of the bank rose 2.4% to $56.51.

However, network-gear maker Alcatel-Lucent SA (ALU, ALU.FR) said Monday it plans to raise about $2.7 billion to cut its debt and finance its turnaround plan, taking advantage of a rebound in shares to unveil a capital increase. The Franco-American maker of everything from wireless antennas to submarine cables said it plans to raise 955 million euros ($1.29 billion) by selling new shares and will issue bonds worth $750 million. Share fell 0.8% to $3.86.

Irish-based budget airline Ryanair Holdings PLC (RYAAY, RYA.LN, RYA.DB) cut its full-year guidance due to a dip in average fares. The company said it expects fares to fall by a further 9% in the third quarter and by up to 10% in the fourth quarter. Shares fell 9.4% to $45.62.

The Asian index edged up 0.1% to 149.26.

Daqo New Energy Corp. (DQ), a China-based polysilicon manufacturer, raised its polysilicon shipment guidance for the third quarter. "We see a stronger demand for polysilicon in the third quarter of 2013 than our expectation," said Chief Executive Gongda Yao, adding that although the company also lowered its guidance for wafer shipments due to some delay in shipping by the end of the third quarter, Daqo reaffirmed its target to ramp up wafer capacity to six million pieces per month by the end of the year. Shares rose 14% to $35.74.

The Latin American index climbed 1.1% to 303.67 and the emerging- markets index added 0.5% to 284.43.

Shares of several Brazilian companies added to gains amid the upbeat data from China, Brazil's biggest trading partner. Mining company Vale SA (VALE, VALE3.BR, VALE5.BR) rose 4.3% to $17.08, while oil company Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR) rose 1.9% to $17.29.

However, Brazilian plane maker Embraer SA (ERJ, EMBR3.BR) shares dropped as documents to which The Wall Street Journal had access showed that U.S. and Brazilian authorities are investigating whether the company bribed officials in the Dominican Republic in exchange for a $90 million contract. Shares fell 0.6% to $29.55.

Write to Anna Prior at [e-mail]