ADR Report: Shares Slip As Europe's Banks Post Weak Results
09 Febrero 2012 - 4:03PM
Noticias Dow Jones
International companies trading in New York closed slightly
lower Thursday, trailing the broader markets, as investors took
stock of a Greek austerity deal.
The Bank of New York Index of ADRs dropped fractionally, to
132.28, dragged down by weak fourth-quarter results from some of
Europe's largest lenders.
ING Groep NV (ING, INGA.AE) said it foresees a weak economic
recovery in 2012 after reporting a lower than expected rise in
fourth quarter net profit. The Dutch financial services company's
shares slid 5.7%, to $9.18.
Credit Suisse Group AG (CS, CSGN.VX) reported an unexpected loss
for the fourth quarter, slashed dividend and bonuses and took a big
charge for winding down risky assets and exiting certain investment
bank businesses. The Swiss bank's shares fell 3%, to $26.81.
The European index slipped marginally, to 120.95.
French software company Dassault Systemes SA's (DASTY, DSY.FR)
shares dropped 2.4%, to $83.70, as it announced the purchase of
Netvibes, the award-winning brand in dashboard intelligence
technologies, to enrich its 3D Experience platform, for an
undisclosed amount.
Rio Tinto PLC (RIO, RIO.LN) said its chief executive and chief
finance officer will forego their annual bonuses after the
company's 2011 profit dropped 59%, dragged down by a $9.29 billion
impairment charge mainly against the value of its struggling
aluminum business that more than offset the benefit of stronger
commodity prices. Shares lost 1.3% to close at $60.75.
The Latin American index closed the day exactly where it
started, at 384.88.
Brazilian state-run energy giant Petroleo Brasileiro (PBR,
PETR4.BR), or Petrobras, said late Wednesday that it would sell a
40% stake in Sao Paulo state natural gas distributor Gas Brasiliano
to Companhia Energetica de Minas Gerais (CIG, CIGC, CMIG4.BR), or
Cemig. Shares of Cemig gained 2.7%, to $21.61.
Governors from Argentina's top 10 oil-producing provinces said
they will demand that oil and gas companies boost output across the
country. Argentina's constitution grants the governors control over
oil and gas concessions in their individual provinces, and the
demand comes amid an intense escalation of government pressure on
the energy industry. Shares of YPF SA (YPF, YPFD.BA), the country's
biggest oil and gas company, slumped 2.9%, to $34.86.
The Asian index edged fractionally lower, to 129.57, but the
emerging markets index bucked the negative trend by posting a 0.2%
rise, to 316.63.
Several of BHP Billiton Ltd.'s (BHP, BHP.AU) Australian coking
coal mines will be hit by a seven-day strike from next Wednesday as
a dispute over a new workplace agreement drags on, a labor union
said. That caused the Anglo-Australian miner's shares to fall 1.4%
to $79.62.
Melco Crown Entertainment Ltd.'s (MPEL, 6883.HK) net revenue
soared 30% in the fourth-quarter, but shares slipped 0.8%, to
$11.82, as the Hong Kong-based casino resort operator's earnings
fell short of analysts' expectations.
Chinese solar companies enjoyed a day of sharp gains after
Norwegian solar power company Renewable Energy Corp. predicted that
China's solar-power demand will grow. Shining brightest was Yingli
Green Energy Holding Co. (YGE), whose shares jumped 20%, to $5.90.
Peer Trina Solar Ltd. (TSL, K3KD.SG) soared 19%, to $10.95, and LDK
Solar Co. (LDK) leapt 13%, to $6.70.
-By Ian Thomson, Dow Jones Newswires; 212-416-2314;
ian.thomson@dowjones.com
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