International stocks trading in New York were mixed on Tuesday.
The BNY Mellon index of American depositary receipts rose 0.96% to
143.69. The European index increased 1.5%% to 140.62, the Asian
index improved 0.57% to 144.07, the Latin American index fell
nearly 2% to 265.69 and the emerging markets index edged down 0.06%
to 283.38. Among the companies with shares that actively traded was
ARM Holdings PLC (ARMH, ARM.LN).
ARM Holdings reported a sharp rise in third-quarter profit, but
the British semiconductor designer's results disappointed investors
expecting a more robust rebound in revenue linked to smartphone
sales. The Cambridge, England-based company reported healthy demand
for high-tech chips for mobile phones and a pickup in chips for
so-called smart objects. But ARM, which designs technology found in
chips in more than 95% of all smartphones, has had to weather an
uncertain period for the sector. Shares fell 4.8% to $39.57.
Brazilian shares fell Tuesday after an opinion poll showed
President Dilma Rousseff with a small lead over her challenger in
the Oct. 26 presidential election. Brazilian markets have been
reacting negatively to any good news for Ms. Rousseff because
investors prefer her opponent's economic policy proposals. Shares
of Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR) declined 5.7%
to $13.20. After the close of trading, Moody's Investor's Service
downgraded Petrobras by a notch, bringing the state-controlled oil
company's credit ratings to two levels above junk territory.
Moody's cited Petrobras's high debt levels and the outlook for
falling oil prices and a weaker local currency.
Royal Dutch Shell PLC (RDSA, RDSA.LN) said Tuesday it has signed
agreements to sell all of the Nigerian oil assets it put up for
sale last year, the latest move by the Anglo-Dutch oil major to
reduce its exposure to the West African nation. Violence and
rampant oil theft in the Niger Delta have recently led foreign oil
giants to sell their blocks to smaller players, many of them
Nigerian. Shares rose 2.8% to $70.20.
Norway's Statoil ASA (STO, STL.OS) said Tuesday it had found
between 30 million and 80 million barrels of oil in the North Sea,
about 180 kilometers west of the city of Stavanger, and the
discovery could potentially be tied in to the nearby Grane field to
help extend its life. Shares rose 5% to $23.98.
Write to Tess Stynes at tess.stynes@wsj.com
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