International stocks trading in New York closed higher on
Tuesday, with the Bank of New York index of American depositary
receipts gaining 1% to 150.83. The European index climbed 1.3% to
150.01, the Asian index rose 0.4% to 146.72, the Latin American
index increased 0.7% to 272.13 and the emerging markets index
jumped 1% to 269.26. Among companies with shares that actively
traded was AstraZeneca PLC (AZN, AZN.LN).
U.K. drug maker AstraZeneca said it expects to return to growth
sooner than analysts predict, forecasting that 2017 revenue will be
broadly in line with that of 2013. The company has been struggling
with one of the industry's worst "patent cliffs," or low-cost
generic competition to its patented drugs. Leerink Swann upgraded
AstraZeneca to outperform and boosted its price target, saying that
the company is on the cusp of becoming a leader in biologics and
specialty care, with especially-good opportunities in oncology.
Shares rose 4.3% to $62.17.
Norwegian oil and gas major Statoil ASA (STO, STL.OS) said
Tuesday it has awarded two offshore wind-farm contracts, worth an
estimated $848 million, to Siemens AG (SI, SIE.XE). Statoil shares
rose 1.4% to $24.91, while Siemens shares added 1.5% to
$135.35.
Goldman Sachs upgraded Logitech International SA (LOGI, LOGN.EB)
to buy from neutral, pointing to PC stabilization and the Swiss
computer-peripherals maker cost cutting, among other things. Share
rose 4.7% to $14.58.
Chinese solar stocks added to the indice's gains, with JinkSolar
Holding Co. (JKS) rising 9.4% to $36.25, ReneSola Ltd. (SOL) up 8%
to $4.03, Trina Solar Ltd. (TSL, K3KD.SG) up 6.6% at $16.18 and
Yingli Green Energy Holding Co. (YGE) up 5.7% at $6.89.
Write to Anna Prior at anna.prior@wsj.com