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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

Stock News for America Movil (AMX)
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06/25/201519:10:22AT&T Plans $3 Billion Expansion in Mexico
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06/17/201507:24:14Brazil Mobile-Phone Subscriptions Rise at Lower Pace in April
06/15/201510:53:31Telekom Austria CEO Ametsreiter To Leave -- Update
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05/20/201519:01:29ADRs End Mixed; Bank Shares Rise
04/27/201510:13:39America Movil SAB de CV Price Target Cut to $20.00 (AMX)
04/24/201507:21:20Brazil Mobile-Phone Subscriptions Rise at Lower Pace in February
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04/17/201518:23:10América Móvil Clears Way for Wireless-Towers Spinoff
04/07/201508:00:00Asurion Expands into Latin America with America Movil
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04/01/201511:32:33America Movil Prepares to Spin Off Cellular Towers

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