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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
01/29/201415:51:23Brazil Stocks Close Down On Fed Tapering Move
12/17/201317:09:13ADR Shares End Lower as Fed Meeting Begins
12/09/201317:31:15ADR Shares End Mixed as Markets Digest Fed Officials' Speeches
11/27/201317:14:07ADR Shares End Slightly Higher After String of Economic Data
11/15/201307:07:30Two Sigma Investments 3Q 13F: Largest Eliminations
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Sales
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Purchases
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Eliminations -2-
11/14/201307:19:29The Vanguard Group 3Q 13F: Largest Purchases -2-
11/14/201307:19:25The Vanguard Group 3Q 13F: Largest Sales
11/01/201316:22:34Brazil Shares Close Lower as Petrobras Gives Up Gains
10/18/201317:19:44ADR Shares End Mostly Higher On Upbeat China Data
10/17/201317:39:08ADR Shares End Higher a Day After U.S. Lawmakers Strike Deal
09/25/201314:42:33Brazil's Gerdau CEO Sees U.S. Steel Demand Stronger in 2014-15
09/23/201317:04:30ADR Shares End Mixed Following German Elections
09/06/201317:45:45Brazil's Bovespa Stock Index Ends Higher on OGX, Mild Inflation
04/09/201308:41:19Brazilian Companies Tap Overseas Debt Markets as BOJ Money Flows
03/21/201317:04:12ADR Shares End Lower as Cyprus Concerns Return to Fore
03/19/201317:24:00ADR Shares End Lower; Mining Stocks Hit by Goldman's Dim Iron-Ore...
03/04/201317:20:53ADR Shares Close Mixed; Property, Mining Stocks Slump After China...

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