By Mia Lamar
International companies trading in New York closed higher
Monday, propped up by broad gains for mining shares.
The Bank of New York index of ADRs edged up 0.2% to 129.58.
Mining shares rose as metals prices rallied on
better-than-expected economic data from China and buying ahead of
the U.S. Federal Reserve's policy-setting meeting this week.
South Africa's Harmony Gold Mining Co. (HMY, HAR.JO) jumped 4.1%
to $8.08, Brazil's Vale SA (VALE, VALE5.BR, VALE3.BR) added 2.2% to
$18.38, and Russia's Mechel OAO (MTL, MTLR.RS) jumped 2.9% to
$6.43.
The European index edged up 0.1% to 123.51.
Financial shares slumped, limiting gains for the index.
Political uncertainty in the euro zone was running high Monday
after Italian Prime Minister Mario Monti said he was prepared to
resign.
Spain's Banco Santander (SAN, SAN.MC) fell 2% to $7.44, France's
BNP Paribas SA (BNPQY, BNP.FR) slumped 1.5% to $28.09, and Dutch
banking giant ING Groep (ING, INGA.AE) fell 1.5% to $9.20.
Greek shares were higher, however, after Greece extended the
deadline for participating in its bond-buyback program until
Tuesday 12:00 London time, or 7 a.m. Eastern. The initial deadline
was last Friday at 5 p.m. London time.
The National Bank of Greece SA (NBG, ETE.AT) jumped 2.3% to
$1.82. Hellenic Telecommunications Organization SA (HLTOY, HTO.AT)
gained 4.8% to $2.86.
The Asian index ended flat at 124.32.
Canada approved Cnooc Ltd.'s (CEO, 0883.HK) $15.1 billion
takeover bid for oil-sands operator Nexen (NXY, NXY.T), the most
ambitious bid by a foreign government-owned entity so far to enter
North America's booming energy industry. Shares rose 0.2% to
$217.29.
The Latin American index jumped 1.1% to 320.12, and the emerging
markets index gained 0.7% to 280.80.
Argentina's recently nationalized YPF SA (YPF, YPFD.BA), which
is courting investors in a bid to help the South American nation
develop its huge shale-gas resources, is holding talks with
Norway's Statoil ASA (STO, STL.OS), a YPF official said Monday.
Getting the Norwegian giant to bear the costs of some
exploration and production would represent a coup for YPF as it
attempts to reassure potential investors following Argentine
President Cristina Kirchner's April expropriation of a majority
stake held by Spanish oil firm Repsol SA (REPYY, REP.MC).
YPF shares surged 6.3% to $12.76 in U.S. trade.
Write to Mia Lamar at mia.lamar@dowjones.com