International stocks trading in New York closed were mixed on
Thursday. The BNY Mellon index of American depositary receipts
edged up 0.27% to 142.62. The European index eased 0.16% to 139.04,
the Asian index improved 0.09% to 140.33, the Latin American index
rose 3.7% to 287.15 and the emerging markets index increased 1.9%
to 286.71. Among the companies with shares that actively traded was
Luxottica Group SpA (LUX, LUX.MI).
Luxottica Group SpA (LUX, LUX.MI) slumped a day after newly
appointed CEO Enrico Cavatorta said he would resign from the
world's largest eyewear maker. He is the second CEO in less than
two months to quit--Andrea Guerra left in September after 10 years
as CEO. Exane BNP Paribas says the share price should be supported
in the short term by a stronger U.S. dollar as well as lower
exposure to China but suggest investors "to sit on the fence for
the moment." Shares fell 9.1% to $47.01.
Shares of chip makers declined amid investor concerns about tech
sector earnings following a warning last week from Microchip
Technology Inc. (MCHP) that it would report disappointing sales for
the September quarter and its suggestion of "another industry
correction." Among the decliners, STMicroelectronics NV (STM,
STM.MI, STM.FR) fell 4% to $6.68; ASM International NV (ASMI,
ASM.AE) dropped 1.7 % to $33.10; United Microelectronics Corp.
(UMC, 2303.TW) declined 2% to $1.95; Semiconductor Manufacturing
International Corp. (SMI, 0981.HK) edged down 0.2% to $4.81. Taiwan
Semiconductor Manufacturing Co. (TSM, 2330.TW) rebounded from
earlier declines and closed at $19.67, up 1.2%.
General Electric Co.'s (GE) $1.8 billion move into helicopter
leasing is a timely reminder that the private-equity money that has
poured into renting commercial jets to airlines -- a segment where
its GE Capital Aviation Services, known as Gecas, is a market
leader -- is starting to pressure margins. Shares of jet-lessor Fly
Leasing Ltd. (FLY) fell 3.2% to $11.95.
Write to Tess Stynes at tess.stynes@wsj.com
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