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ADR Report: Shares Fall On Continued Global-Growth Concerns

By Nathalie Tadena Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- International companies trading in New York closed lower Friday, in line with the broader market, due to continued concerns about a potential global recession and the health of the European banking system. The Bank of New York index of ADRs fell 1.5% to 119.24, weighed by shares of European banks. Exane BNP Paribas said Friday that investors were being spooked by a number of factors, including dollar liquidity, worries that European banks haven't marked down their sovereign-debt exposures enough, and the risk of an economic recession. Societe Generale SA (SCGLY, GLE.FR) closed 6.2% lower to $5.94, Royal Bank of Scotland Group PLC (RBS, RBS.LN) slid 7% to $6.81 and Lloyds Banking Group PLC (LYG, LLOY.LN) closed 5.6% lower at $1.84. The European index lost 1.9% to 108.56. The U.K.'s competition regulator said Friday it was looking to make British Sky Broadcasting Group PLC (BSYBY, BSY.LN), the nation's biggest pay-television operator, change the way it operates its Sky Movies business to allow rivals such as Virgin Media Inc. (VMED) and BT Vision to compete on a more equal footing. Shares fell 2.7% to $40.96. Meanwhile, Numis Securities upgraded ARM Holdings PLC (ARMH, ARM.LN) to buy from add, saying the depressed share price following recent market turmoil represents a buying opportunity. There are upbeat prospects in consumer computing and a positive read-across from Hewlett-Packard Co.'s (HPQ) acquisition of Autonomy (AU.LN), it noted. Shares were up 1.4% to $23.84. The Asian index slumped 0.9% to 118.58 as shares of solar companies fell. China's LDK Solar Co. (LDK) said Thursday its second-quarter and full-year financial results would be worse than expected, due to lower prices and higher costs. Shares plunged 23% to $5.06. Shares of China Sunergy Co. (CSUN) fell 3.2% to $1.22 after it reported it swung to a second-quarter loss on slumping margins and as the Chinese solar-products maker's overhead costs nearly tripled mainly related to its push into new markets. The Latin American index slid 1.1% to 342.80. Societe Generale cut Brazilian miner Vale SA's (VALE, VALE5.BR) target price to $38 from $42 after stress testing its model to take into account lower iron-ore prices. SocGen said risks to Vale's target price include low demand for iron ore and iron-ore pellets, an economic slowdown in China and market volatility. Separately, business newspaper Valor Economico said Friday that Vale is planning to set up a logistics company which may be floated on Brazil's BM&FBovespa stock exchange in 2012. Shares closed 1.6% lower at $25.63. The emerging-markets index closed 0.9% lower to 282.85. South Korea halted the sale process for Woori Finance Holdings (WF, 053000.SE), the nation's largest financial-holding company, for a second time Friday due to insufficient interest from bidders, a fresh blow to the current administration's pledge to reduce the public sector's influence in the overall economy. Shares fell 4.1% to $30.94. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287;

Stock News for China Sunergy Co. Ltd. Ads (CSUN)
11/23/201508:19:52Report of Foreign Issuer (6-k)
11/23/201504:30:00China Sunergy Announces Second Quarter 2015 Financial Results
10/30/201509:22:24Report of Foreign Issuer (6-k)
10/30/201507:00:00China Sunergy Announces Shareholder Resolutions Adopted at 2015...
10/24/201517:46:33China Sunergy: No Recovery In Sight
10/15/201505:00:00China Sunergy Opens Solar Cell Factory in Incheon, Korea
09/28/201509:07:01Report of Foreign Issuer (6-k)
09/28/201505:30:00China Sunergy Announces First Quarter 2015 Financial Results
09/14/201506:00:00China Sunergy to Hold Annual General Meeting on October 30, 2015...
09/11/201507:40:35Report of Foreign Issuer (6-k)
09/10/201506:00:00China Sunergy Announces Receipt of Notice of Failure to Meet...
08/21/201506:00:00China Sunergy Won a Bid to Supply 260 MW of PV Modules to China...
08/06/201506:00:00China Sunergy Won an EPC Agreement for the Construction of a...
07/23/201506:22:00China Sunergy Regains Compliance with Nasdaq Listing Requirements
07/10/201506:04:00China Sunergy Files 2014 Annual Report on Form 20-F
06/15/201506:19:14Report of Foreign Issuer (6-k)
06/15/201506:16:42Report of Foreign Issuer (6-k)
06/12/201506:05:00China Sunergy Announces Fourth Quarter and Full-Year 2014 Financial...
06/12/201506:00:00China Sunergy Announces Third Quarter 2014 Financial Results
05/27/201506:00:00China Sunergy Announces Receipt of Notice of Failure to Meet...

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