International stocks trading in New York closed higher Friday,
with the Bank of New York index of American depositary receipts
adding 1.2% to 145.85. The European index rose 1.2% to 145.81, the
Asian index climbed 1.4% to 140.35, the Latin American index added
0.6% to 258.64 and the emerging markets index increased 1% to
256.85. Among the companies with shares that actively traded were
Gafisa SA (GFA, GFSA3.BR) and Statoil ASA (STO, STL.OS).
Gafisa, one of the largest real-estate firms in Brazil in terms
of revenue, may split its operations in two as it continues to
struggle with a 2008 acquisition. The firms also said Chief
Executive Duilio Calciolari will step down within three months.
Shares rose 3.9% to $2.70.
Norwegian oil company Statoil ASA (STO, STL.OS) said Friday it
would reduce its planned capital expenditure by more than $5
billion thorugh 2016 to free up cash, as fourth-quarter net profit
rose despite lower volumes. Shares jumped 6.1% to $25.40.
ArcelorMittal (MT, MT.FR, MT.AE), the world's largest steelmaker
by volume, said its fourth-quarter net loss narrowed, helped by
higher steel and iron-ore shipments and cost savings. Shares rose
1.3% to $17.27.
Shire PLC (SHPG, SHP.LN) said Friday it has stopped development
of its best-selling drug, Vyvanse, as a treatment for depression,
after the results of two late-stage trials disappointed on
Thursday. Shares still edged up 0.3% to $154.22.
Cyrus Mistry, the chairman of India's Tata Group, will head a
panel that will temporarily oversee the running of Tata Motors Ltd.
(TTM, 500570.BY) to fill the leadership gap created by the recent
death of the auto maker's managing director. The nine-member panel
of senior executives of India's largest auto maker by revenue will
also include chief financial officer C. Ramakrishnan and the
president of passenger vehicle business Ranjit Yadav. Tata Motors
shares edged up 0.6% to $28.99.
Write to Anna Prior at anna.prior@wsj.com
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