By Anna Prior
International companies trading in New York closed lower Tuesday
as the European Commission cut its economic-growth forecast for the
euro zone.
The Bank of New York index of American depositary shares fell
0.8% to 147.90.
The European Commission cut its 2014 economic growth forecast
for the 17-nation euro zone to 1.1% from 1.2% and raised its
forecast for the unemployment rate to 12.2% from 12.1%.
Meanwhile, in the U.S., the Institute for Supply Management's
nonmanufacturing purchasing managers index for October rose to 55.4
from 54.4 in September, bucking expectations for a decline.
The European index dropped 0.6% to 143.42.
Deutsche Bank AG (DB, DBK.XE) fell after Bloomberg reported that
co-Chief Executive Juergen Fitschen is a suspect in a probe into
courtroom testimony given in a long-running legal dispute between
the bank and Leo Kirch's media group. Shares fell 2.1% to
$46.51.
However, shares of U.K.-based pharmaceutical group Shire PLC
(SHPG, SHP.LN) got a boost after the company Tuesday announced
positive results from two studies evaluating the efficacy and
safety of Vyvanse capsules for adults with binge-eating disorder.
Shares rose 2.2% to $137.98.
The Asian index fell 0.8% to 148.13.
Trina Solar Ltd. (TSL) raised its third-quarter shipment
guidance, marking the second consecutive quarter that the Chinese
solar-products maker has boosted its outlook. However, shares fell
3.7% to $16.15.
The Latin American index lost 2.2% to 297.02, and the
emerging-markets index fell 1.6% to 279.97.
Brazilian stocks added to declines, with Centrais Eletricas
Brasileiras SA (EBR, ELET6.BR) falling 8.2% to $2.80, Gafisa SA
(GFA, GFSA3.BR) losing 5.2% to $2.54 and Itau Unibanco Holding SA
(ITUB, ITUB3.BR, ITUB4.BR) down 4.1% to $14.66.
Write to Anna Prior at anna.prior@wsj.com