By Anna Prior
International companies trading in New York closed mostly higher
Friday amid upbeat growth data from China and as several U.S.
companies reported stronger-than-expected quarterly earnings.
The Bank of New York index of ADRs rose 0.4% to 149.58.
Data showed China's third-quarter gross domestic product
expanded at a 7.8% pace, accelerating from 7.5% growth in the
second quarter, and in line with expectations, which means China is
likely to meet or exceed the government's 7.5% growth target for
2013.
Meanwhile, in the U.S., quarterly profits from Google Inc.
(GOOG) and some other large companies topped expectations.
The Asian index climbed 0.7% to 152.34.
Shares of Chinese Internet-search company Baidu Inc. rose 7.9%
to $165.91 a day after Citi boosted its price target to $175 and
amid a surge by shares of U.S.-based Internet-search giant Google.
Google's third-quarter earnings and revenue beat expectations, and
the company said net income rose 36% amid several new initiatives
to raise the price marketers pay for advertisements on smartphones
and other mobile devices.
Chip maker Taiwan Semiconductor Manufacturing Co., which
reported record-high revenue in the third quarter, expects its
latest 20-nanometer chip-making technology will ramp up more
quickly in 2014, said TSMC Chairman Morris Chang at an investor
conference Thursday. Shares add to Thursday's gains, ending the day
up 2.3% to $19.08.
The European index added 0.4% to 143.87.
Shares of Prudential PLC rose 3.4% to $40.89 after Asian rival
AIA Group Ltd. said business value rose to a record during its
third quarter.
Telefonica SA's (TEF, TEF.MC) German mobile unit and KPN
subsidiary E-Plus are likely to submit documents to European Union
regulatory authorities by mid-November seeking approval for
Telefonica Deutschland's purchase of E-Plus, people familiar with
the matter said this week. Shares of the Spanish company rose 1% to
$17.74.
The Latin American index fell 0.7% to 303.29 and the emerging
markets index rose 0.5% to 289.05.
Brazilian shares added to losses, with airline Gol Linhas Aereas
Inteligentes SA falling 3.6% to $4.89, steel company Gerdau SA down
3.3% to $7.70 and real-estate developer Gafisa SA down 2.8% to
$3.11.
Write to Anna Prior at anna.prior@wsj.com