By Anna Prior
International companies trading in New York closed higher Monday
amid upbeat data from China and Europe.
The Bank of New York index of ADRs added 0.4% to 149.11.
China's official nonmanufacturing purchasing managers index rose
from September to reach 56.3 in October, according to data released
over the weekend.
Meanwhile, data provider Markit said its euro-zone manufacturing
purchasing managers index for October edged up to 51.3 from
September's 51.1, matching expectations.
The European index rose 0.4% to 144.35.
Adding to gains was HSBC Holdings PLC (HBC, HSBA.LN), which
reported a 28% rise in third-quarter net profit. Shares of the bank
rose 2.4% to $56.51.
However, network-gear maker Alcatel-Lucent SA (ALU, ALU.FR) said
Monday it plans to raise about $2.7 billion to cut its debt and
finance its turnaround plan, taking advantage of a rebound in
shares to unveil a capital increase. The Franco-American maker of
everything from wireless antennas to submarine cables said it plans
to raise 955 million euros ($1.29 billion) by selling new shares
and will issue bonds worth $750 million. Share fell 0.8% to
$3.86.
Irish-based budget airline Ryanair Holdings PLC (RYAAY, RYA.LN,
RYA.DB) cut its full-year guidance due to a dip in average fares.
The company said it expects fares to fall by a further 9% in the
third quarter and by up to 10% in the fourth quarter. Shares fell
9.4% to $45.62.
The Asian index edged up 0.1% to 149.26.
Daqo New Energy Corp. (DQ), a China-based polysilicon
manufacturer, raised its polysilicon shipment guidance for the
third quarter. "We see a stronger demand for polysilicon in the
third quarter of 2013 than our expectation," said Chief Executive
Gongda Yao, adding that although the company also lowered its
guidance for wafer shipments due to some delay in shipping by the
end of the third quarter, Daqo reaffirmed its target to ramp up
wafer capacity to six million pieces per month by the end of the
year. Shares rose 14% to $35.74.
The Latin American index climbed 1.1% to 303.67 and the
emerging- markets index added 0.5% to 284.43.
Shares of several Brazilian companies added to gains amid the
upbeat data from China, Brazil's biggest trading partner. Mining
company Vale SA (VALE, VALE3.BR, VALE5.BR) rose 4.3% to $17.08,
while oil company Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR)
rose 1.9% to $17.29.
However, Brazilian plane maker Embraer SA (ERJ, EMBR3.BR) shares
dropped as documents to which The Wall Street Journal had access
showed that U.S. and Brazilian authorities are investigating
whether the company bribed officials in the Dominican Republic in
exchange for a $90 million contract. Shares fell 0.6% to
$29.55.
Write to Anna Prior at anna.prior@wsj.com