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ADR Report: Shares Higher As Greece Approves Austerity Measures

By Corrie Driebusch Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- International companies trading in New York closed higher Monday, in line with the broader market, following the Greek parliament's approval of austerity measures required in order for the country to receive a second bailout package from its European partners and the International Monteary Fund. The Bank of New York index of ADRs climbed 1.2% to 131.45 as European stocks rallied, with financial companies trading mostly higher. Lloyds Banking Group PLC (LYG, LLOY.LN) added 2.8% to $2.19, UBS AG (UBS, UBSN.VX) rose 2% to $14.18 and ING Groep NV (ING, INGA.AE) was lifted 2.3% to $8.74. The European index gained 1.2% to 120.47. Wausau Paper Corp. (WPP) struck an agreement with its largest shareholder, activist hedge fund Starboard Value LP, to nominate two directors supported by Starboard to its board. Starboard Value has been angling for change at the paper products company, in which it holds a roughly 10% stake, according to FactSet Research. The hedge fund last month sent a letter to Wausau urging it to expand its strategic review to include a potential sale of its paper segment or the entire company. Shares of Wausau Paper gained 3.2% to $9.78. Offsetting those gains were Societe Generale SA (SCGLY, GLE.FR) and BNP Paribas SA (BNPQY, BNP.FR), which ended down 1.7% at $5.96 and 0.7% at $22.76, respectively. They fell after it was confirmed that the French regulator lifted the ban on short selling of some French financial companies. The ban was first imposed in August. The Asian index ended up 1.3% at 128.33. Advanced Semiconductor Engineering (ASX, 2311.TW) shares added 1.5% to $4.86 as HSBC raised its stock-investment rating on the company to overweight form neutral and upped its price target. Fubon also raised its price target citing Advanced Semiconductor's better-than-expected first-quarter revenue guidance. Taiwan Semiconductor Manufacturing Co. Ltd. (TSM, 2330.TW) also rose 2% to $14.11. The Latin American index rose 1.5% to 381.15 and the emerging markets index added 1.4% to 314.08. An increase in international oil prices boosted shares of petroleum companies. Brazilian energy giant Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, gained 1.9% to $30.14. Companhia Energetica de Minas Gerais (CIG, CMIG4.BR), Brazil's third-biggest electric utility, signed an agreement Monday to supply steelmaker Gerdau SA (GGB, GGBR4.BR) with power through 2021. Shares of Cemig, as the generator and distributor is known, climbed 1.1% to $22. It said it will supply power for Gerdau's facilities in southeastern and southern Brazil. Argentine real-estate development group Inversiones y Representaciones SA (IRS, IRSA.BA) posted a profit of 127 million pesos ($30 million) during the second quarter accounting period ending Dec. 31, up 11.4% on the year, the company reported Monday. IRSA's shares jumped 1.4% to $10.62 as its profit was up sharply from the gain it posted during the first quarter. -By Corrie Driebusch, Dow Jones Newswires; 212-416-2143; corrie.driebusch@dowjones.com

Stock News for Gerdau (GGB)
DateTimeHeadline
06/24/201611:32:00SHAREHOLDER ALERT: The Law Offices of Vincent Wong Reminds Investors...
06/23/201612:34:57Report of Foreign Issuer (6-k)
06/23/201605:30:00JULY 25, 2016 DEADLINE: Lundin Law PC Announces Securities Class...
06/20/201611:55:23INVESTOR ALERT: The Law Offices of Vincent Wong Reminds Investors...
06/16/201617:45:00IMPORTANT SHAREHOLDER NOTICE: Khang & Khang LLP Announces the...
06/16/201605:30:00SHAREHOLDER ALERT: Lundin Law PC Announces Ongoing Investigation...
06/15/201615:23:00DEADLINE ALERT: Brower Piven Reminds Shareholders of Approaching...
06/14/201611:40:35INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of...
06/13/201609:34:51Report of Foreign Issuer (6-k)
06/10/201618:02:31SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with...
06/10/201612:56:00SHAREHOLDER ALERT: Rosen Law Firm Reminds Gerdau S.A. Investors...
06/08/201616:56:00IMPORTANT INVESTOR NOTICE: Lundin Law PC Announces Ongoing Investigation...
06/08/201614:26:00Glancy Prongay & Murray Commences Investigation on Behalf of...
06/06/201609:11:00Law Offices of Marc S. Henzel Announces Investigation of Companies...
06/03/201623:30:00INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have...
06/03/201618:35:00SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with...
06/02/201619:50:00INVESTOR NOTICE: Khang & Khang LLP Announces an Investigation...
06/02/201618:22:00Robbins Arroyo LLP: Gerdau S.A. (GGB) Misled Shareholders According...
06/02/201616:58:46SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces A Securities...
05/31/201615:22:24SHAREHOLDER ALERT: The Law Offices of Vincent Wong Notifies Investors...

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