By Tess Stynes
International companies trading in New York closed mixed Tuesday
after Spain's prime minister said the country wasn't seeking an
imminent bailout.
The Bank of New York index of ADRs rose 0.3% to 126.74.
At a press conference following a meeting with Spain's regional
leaders, Prime Minister Mariano Rajoy responded with a curt "no" to
a question over whether a bailout request was imminent. Mr. Rajoy
has said he is studying the possibility of requesting European
Union financial aid.
Still, shares of companies based in Spain received a boost.
Gainers included Banco Santander SA (SAN, SAN.MC), which rose 2.2%
to $7.60, Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC), up
1.9% at $7.89, and Telefonica SA (TEF, TEF.MC) which advanced 1.8%
to $13.53.
The European index rose 0.6% to 120.35. Deutsche Telekom AG
(DTEGY, DTE.XE) said its is in talks to merge its T-Mobile USA unit
with U.S. wireless carrier MetroPCS Communications Inc. (PCS), a
deal that would involve investing more in the U.S. in the short
term but may create a possible exit for the big German operator
down the line. Deutsche Telekom rose 2.7% to $12.56.
The Latin American index eased 0.05% to 327.11, and the emerging
markets index edged down a fraction of a point to 282.90.
GOL Linhas Aereas Inteligentes SA (GOL, GOLL4.BR) declined after
a number of analysts expressed concerns about the Brazil-based
airline's announcement Monday that it plans to spend about $6
billion on new jets. The shares had climbed Monday on expectations
the company would announce structural changes or even a possible
merger. Shares fell 10% to $5.63.
TIM Participacoes SA (TSU, TIMP3.BR) shares declined after a
minority shareholder accused the firm of inflating profits by
failing to report a massive tax liability. The Brazilian phone
company denied the allegations. TIM shares were down 4.5% at
$18.52. TIM is 67% owned by Telecom Italia SpA (TI, TIT.MI, TIA),
whose shares dropped 1.5% to $9.87.
The Asian index was down 0.22% at 120.13. Decliners included
Chinese solar companies, whose shares have been volatile as the
industry struggles with weak prices.
LDK Solar Co. (LDK) said its controlling shareholder, LDK New
Energy Holding Ltd., reached an agreement with its lenders, who
will refrain from exercising their power of sale for 12 months. LDK
New Energy has been seeking to amend a credit pact under which it
has pledged about 52.9% of the Chinese solar-product maker's stock
outstanding as collateral. Shares were down 1.9% at $1.04 despite
the reprieve.
Other Chinese solar companies that saw declines included China
Sunergy Co. Ltd. (CSUN), off 2.7% at $1.08; Hanwha SolarOne Co.
Ltd. (HSOL), which fell 2.9% to $1.05; and Yingli Green Energy
Holding Co. Ltd. (YGE), down 1.8% at $1.64.
-Jonathan House contributed to this article.
By Write to Tess Stynes at Tess.Stynes@dowjones.com