ADR Shares End Higher After Weak U.S. Jobs Report

   By Nathalie Tadena 
 

International companies trading in New York closed slightly higher after weaker-than-expected U.S. jobs data raised concerns that the Federal Reserve may delay its anticipated tapering of bond purchases.

The Bank of New York index of ADRs rose 0.6% to 139.58.

The U.S. economy added 169,000 jobs in August, the Labor Department said Friday, below economists' expectations for a 175,000 gain. The Labor Department also revised its July payroll reading down to 104,000, making July's rate the lowest in more than a year. The unemployment rate ticked down to 7.3% in August from 7.4% a month earlier, though fewer people were looking for work.

The jobs report is a key gauge of the labor market, and a weak number could increase speculation the Federal Reserve will delay the anticipated tapering of its $85-billion-a-month asset purchases.

The European index edged up 0.6% to 134.45.

Shares of U.K.-listed oil and gas explorer Tullow Oil PLC (TUWOY, TLW.LN) gained 3.6% after the oil-exploration firm said the Wisting Central well has made the first ever oil discovery in the Hoop-Maud Basin in the Barents Sea. Tullow shares rose 4.5% to $8.37.

Ericsson (ERIC), the Swedish network gear vendor, said Friday that Spanish telecommunications provider Telefonica S.A.(TEF, TEF.MC) had selected Ericsson to build their 4G/LTE Network in Madrid and Barcelona. The value of the deal wasn't disclosed. Ericsson's shares were up 4.6% to $13.11, while Telefonica's shares gained 1.5% to $14.20.

The Asian index increased 0.4% to 142.32, while the Latin American index gained 1.7% to 278.57.

Shares of energy companies in China and South America closed higher as crude-oil prices climbed 2% Friday to a 28-month high amid heightened anxieties over the U.S. and Russian impasse over Syria.

Shares of PetroChina Co. (PTR, 0857.HK), China's largest energy producer, rose 1.2% to $112.68, while China Petroleum & Chemical Corp. (SNP, 0386.HK) shares increased 1.3% to $77.94 and CNOOC Ltd. (CEO, 0883.HK) shares advanced 1.1% to $205.64.

Brazil's state-run energy company Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, closed 0.8% higher at $14.67, while Petrobras Argentina SA (PZE, PESA.BA) shares climbed 2.1% to $5.28.

The emerging markets index advanced 1.1% to 265.56.

A large number of striking gold mine workers in South Africa have accepted a revised wage offer, bringing an end in sight to industrial action that had cut into production. Shares of AngloGold Ashanti (AU, ANG.JO), which confirmed it made an offer to its unionized employees in South Africa, gained 4% to $14.02. Gold futures also increased Friday.

Write to Nathalie Tadena at [e-mail]

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