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ADR REPORT: Shares Close Higher Amid Hopes for Euro-Zone Banking Union

By Mia Lamar International companies trading in New York closed higher Tuesday, supported by comments from a European Central Bank official that the debt-scarred euro zone must form a banking union. The Bank of New York index of American depositary receipts, or ADRs, rose 1.8% to 114.62 as financial companies ended broadly higher. Spanish bank stocks reversed declines suffered Monday on skepticism over the country's planned bailout of its flagging banking sector. Banco Santander SA (STD, SAN.MC) added 2.2% to $6.05 and Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC) gained 2.4% to $6.47. The Asian index rose 1.7% to 113.81. Solar companies were among the biggest gainers after U.S.-based First Solar Inc. (FSLR) said it was boosting production at a German plant amid a surprise jump in demand. Trina Solar Ltd. (TSL, K3KD.SG) ended 8.3% higher at $6.64, Yingli Green Energy Holding Co. (YGE) climbed 5.4% to $2.74 and Suntech Power Holdings Co. (STP, K3ND.SG) rose 7.4% to $1.74. The European index rose 1.9% to 106.12 after ECB Vice President Vitor Constancio said a Europewide program to guarantee bank deposits should be one part of a euro-zone banking union. Banks across the less visibly distressed parts of Europe also benefited from Constancio's comments. France's Societe Generale SA (SCGLY, GLE.FR) rose 2.2% to $4.22 while BNP Paribas SA (BNPQY, BNP.FR) added 1.7% to $17.70. Barclays PLC (BCS, BARC.LN) in the U.K. rose 2.3% to $11.95 and Germany's Deutsche Bank AG (DB, DBK.XE) tacked on 1.4% to $35.43. The Latin American index rose 1.5% to 303.97 and the emerging-markets index rose 1.8% to 262.71. Fibria Celulose SA (FBR, FIBR3.BR), Brazil's largest producer of pulp, late Monday reported it has concluded renegotiations of covenants with its creditors, increasing leverage limits. Fibria shares trading in New York on Tuesday closed 2.8% higher at $6.18. Mexican mobile giant America Movil (AMX, AMX.MX) increased its stake in Dutch telecommunications firm Royal KPN NV (KPN.AE) to 7.3% from about 5%. The raised investment is separate from America Movil's 2.64 billion euro ($3.30 billion) tender offer for up to 28% of Royal KPN. America Movil put forth the offer to gain a foothold in Europe, yet has thus far been rebuffed by the company's management. Shares of America Movil rose 3.2% to $24.23. Write to Mia Lamar at mia.lamar@dowjones.com

Stock News for America Movil (AMX)
DateTimeHeadline
10/20/201421:10:46America Movil Raises Stake in Telekom Austria
10/20/201419:09:21America Movil Raises Stake in Telekom Austria to 59.7%
09/30/201418:03:23ADR Shares End Lower; America Movil, HSBC Shares Trade Actively
09/30/201412:43:05Brazil's Government Raises Less Than Expected From Auction of...
09/23/201417:53:43Brazil's Oi Won't Participate in Country's Airwave Auction
09/16/201418:21:44ADR Shares End Higher; Petrobras Shares Trade Actively
09/10/201421:10:23Ricardo Salinas to Buy Televisa's Stake in Iusacell
08/21/201407:32:00Brazilian Court Gives Green Light to Airwaves Auction Process
08/19/201408:25:49Telecommunication-Tower Operator T4U Plans IPO in Brazil
07/21/201418:03:34ADR Shares End Mixed; Philips Shares Trade Actively
07/14/201419:30:42America Movil Secures Majority Stake in Telekom Austria
07/09/201417:30:46ADR Shares End Higher; America Movil, Teva Shares Trade Actively
06/30/201417:04:08ADR Shares End Mixed; Philips, America Movil Trade Actively
06/27/201418:49:40Slim to Buy Back America Movil Stake from AT&T
06/27/201418:48:41Carlos Slim to Buy Back 8.3% America Movil Stake from AT&T
06/17/201406:22:21Telekom Austria's New Ownership Structure Approved by Regulator
06/11/201418:22:03Ecuador to Begin 4G Mobile Spectrum Talks With Private Operators
05/19/201410:47:33America Movil Shares Fall Sharply as AT&T to Sell Stake
05/15/201408:39:20America Movil Publishes Takeover Offer for Telekom Austria
05/13/201413:41:03Argentina Plans to Auction 4G, 3G Wireless Licenses

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