By Tess Stynes
International companies trading in New York closed mixed
Wednesday amid more signs of weakness in the global manufacturing
sector and investor caution ahead the European Central Bank's
policy meeting.
The Bank of New York index of ADRs fell a fraction to 120.89 as
Europe was the latest to turn in disappointing manufacturing data,
adding to concerns following weak reports from China and the
U.S.
The European index slipped a fraction to 114.75.
Nokia Corp. (NOK, NOK1V.HE) unveiled two new smartphones
designed to run on Microsoft Corp.'s (MSFT) latest operating
system, in a make-or-break move for the phone maker to stop its
sliding market share. However, the company didn't say when the new
devices--the flagship Lumia 920 and the mid-tier Lumia 820--would
become available or whether the phones would offer enough to
compete with Apple Inc.'s (AAPL) iPhones or Android devices. Nokia
shares fell 16% to $2.38.
Dutch financial services company ING Groep NV (ING, INGA.AE)
said it will sell its entire stake in Capital One Financial Corp.
(COF) for about $3 billion, in a deal that will boost its capital
ratios as it seeks to repay a government bailout. ING Groep shares
rose 1.4% to $7.64.
Delfin Sarl, the holding company that controls Luxottica Group
SpA (LUX, LUX.MI) said Wednesday that up to 33 million of the
Italian luxury eyewear company's ordinary shares, or about 7% of
the total outstanding, have been put up for sale. Luxottica's
founder and chairman Leonardo Del Vecchio said the stock sale was
in response to feedback from investors. Shares fell 4.8% to
$35.24.
The Asian index was down 1.1% to 114.53.
Chinese solar companies expect a European Commission
announcement within days on a decision to launch a formal
investigation into their alleged dumping of solar panels in Europe,
which could result in heavy tariffs being imposed on them next
year. Among declining shares, Yingli Green Energy Holding Co. (YGE)
was down 3.1% at $1.56, China Sunergy Co. (CSUN) fell 8.7% to $1.37
and ReneSola Ltd. (SOL) was off 2.2% at $1.36.
The Latin American index increased 0.7% to 313.04. Shares of
Brazilian steelmakers rallied after the government announced plans
to raise import taxes in order to protect domestic producers.
Usiminas (USNZY, USIM5.BR) shares jumped 14% to $4.67 while
Companhia Siderurgica Nacional (SID, CSNA3.BR) shares rose 7.7% to
$5.05.
The emerging markets index ended up a fraction higher at 265.96.
Shares of African gold mining companies were higher including Gold
Fields Ltd. (GFI, GFI.JO), which was up 4.5% at $12.71, AngloGold
Ashanti Ltd. (AU, ANG.JO) rose 2.6% to $32.23.
-Write to Tess Stynes at Tess.Stynes@dowjones.com