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Companhia Vale Do Rio Doce Share News

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ADR Report: Shares Higher As European Banks Rally

By Corrie Driebusch International companies trading in New York closed sharply higher Wednesday, in line with the broader market, after remarks by central bankers in Europe and the U.S. hinted that more monetary stimulus is to come. The Bank of New York index of ADRs climbed 2.8% to 113.69 as European Central Bank President Mario Draghi said markets are underestimating political leaders' commitment to address the euro crisis. Some investors took that to mean more monetary stimulus may be on its way. European bank stocks in particular rallied. Banco Santander SA (STD, SAN.MC) climbed 4.2% to $5.93, while Banco Bilbao Vizcaya Argentaria SA (BBVA) rose 4.8% to $6.35. French banks also jumped, with BNP Paribas SA (BNPQY, BNP.FR) ending up 5.3% at $18.15, Societe Generale SA (SCGLY, GLE.FR) gaining 5.2% to $4.48 and Credit Agricole SA (CRARY, ACA.FR) closing 3.8% higher at $1.93. The European index ended up 2.9% at 104.81. Drinks maker Diageo PLC (DEO, DGE.LN) said Wednesday that it plans to invest more than one billion pounds ($1.5 billion) in Scotch whisky production over the next five years to meet growing demand in emerging markets. Shares of Diageo climbed 4.2% to $97.88. The Asian index rose 2.7% to 113.08. Indian generic-drug maker Dr. Reddy's Laboratories Ltd. (RDY, 500124.BY) on Wednesday disclosed a research agreement with Germany's Merck KGaA (MKGAY, MRK.XE) aimed at developing biotechnology drugs that can be sold in the highly regulated but more lucrative markets of the U.S., Europe and Japan. Shares of Dr. Reddy's closed 1.3% higher at $29.07. The Latin American index gained 2.4% to 306.53 and the emerging-markets index added 2.7% to 262.25. Spot gold and silver jumped to a four-week high Wednesday as investors embraced the possibility that the U.S. could enter another round of gold-friendly monetary-policy easing. Shares of miners rose, including Vale SA (VALE, VALE5.BR), up 3.2% at $18.75, and BHP Biliton Ltd. (BHP, BHP.AU), up 3.3% at $63.23. Write to Corrie Driebusch at corrie.driebusch@dowjones.com.

Stock News for Companhia Vale Do Rio Doce (VALE)
DateTimeHeadline
08/24/201517:37:00ADRs End Lower; Chinese, Commodities Firms Decline
08/24/201504:20:00Turbo Power Systems to Get New Parent; Strategic Review Continues
08/14/201513:02:52Report of Foreign Issuer (6-k)
08/13/201510:50:37Vale to Investigate Nitrous Oxide Leak at Northern Ontario Nickel...
08/11/201517:50:53ADRs End Lower; Miners, Steelmakers Among Decliners
08/06/201506:04:45Report of Foreign Issuer (6-k)
08/05/201516:30:55Report of Foreign Issuer (6-k)
07/30/201510:11:19Brazil's Vale Posts $1.68 Billion Profit--3rd Update
07/30/201510:09:35Report of Foreign Issuer (6-k)
07/30/201510:09:09Report of Foreign Issuer (6-k)
07/30/201509:43:36Brazil's Vale Sells Minority Stake In MBR For BRL4 Billion
07/30/201508:33:59Brazil's Vale Posts $1.68 Billion Profit--2nd Update
07/30/201508:07:09Report of Foreign Issuer (6-k)
07/30/201507:38:05Brazil's Vale Posts $1.68 Billion Profit--Update
07/30/201506:59:15Report of Foreign Issuer (6-k)
07/30/201506:09:27Report of Foreign Issuer (6-k)
07/30/201506:09:26Report of Foreign Issuer (6-k)
07/30/201506:09:06Brazil's Vale 2Q Net Profit Up 17.3% to $1.68 Billion
07/29/201509:25:00Signing of Memorandum to Trigger Business Expansion - Report...
07/23/201511:31:37Report of Foreign Issuer (6-k)

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