By Mia Lamar
International companies trading in New York closed mixed Friday,
hurt by lower metals and mining shares after downbeat news from top
industrial metal consumer China.
The Bank of New York index of ADRs ended fractionally lower at
137.66.
China's consumer-price index rose 2.5% from a year earlier in
December, faster than November's 2% rise. Rising prices could limit
Beijing's flexibility to support the Chinese economy, analysts
said, should leaders worry that pumping more cash into the
financial system would accelerate inflation.
Brazilian steelmaker Companhia Siderurgica Nacional (SID,
CSNA3.BR) fell 1.5% to $6.13, Russia's Mechel OAO (MTL, MTLR.RS)
dropped 2.7% to $6.91 and Anglo-Australian mining giant Rio Tinto
PLC (RIO, RIO.AU, RIO.LN) declined 1.6% to $55.65.
The European index rose 0.2% to 130.20.
Among notable movers in the index, some drug makers were on the
rise after UBS upgraded the pharmaceutical sector to overweight
from neutral and highlighted it as its preferred defensive
play.
U.S.-listed shares of Denmark's Novo Nordisk AS (NVO, NOVO-B.KO)
moved 1.3% higher to $173.09 and France's Sanofi SA (SNY, SAN.FR)
added 0.9% to $48.87.
The Asian index fell 0.3% to 134.82.
Chinese stocks were mostly lower after the pick up in inflation.
Solar-panel maker Trina Solar Ltd. (TSL) fell 2.4% to $5.62,
Sinopec Shanghai Petrochemical Co. (SHI, 0338.HK) fell 4.8% to
$35.70 and Aluminum Corp. of China Ltd. (ACH, 2600.HK) shed 3.5% to
$12.82.
The Latin American index fell 0.7% to 340.89 and the emerging
markets index shed 0.2% to 298.39.
Brazil's state-run energy company Petroleo Brasileiro SA (PBR,
PETR4.BR), or Petrobras, fell 0.7% to $19.87. Petrobras Argentina
SA (PZE, PESA.BA) shares tumbled 4.6% to $4.94.
Write to Mia Lamar at mia.lamar@dowjones.com