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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
04/15/201417:02:39ADR Shares End Lower; Infosys, Diageo Shares Active
04/15/201413:06:06Brazil's Vale Secures Loan Package From BNDES -- Update
04/15/201410:02:19Brazil's Vale Secures BRL6.2 Billion Loan Package From BNDES
04/11/201409:43:44Brazil's CVM Authorizes IADB to Issue Debt in Local Markets
04/09/201408:44:34BSG Resources, Vale Face Loss of Guinea Licenses -- Update
04/08/201413:20:03Veolia Seeks More Revenue from Mining Industry's Water, Waste...
04/02/201418:27:45Vale Suspends Transporting Coal From Mozambique Mines -- Update
04/02/201416:55:18ADR Shares End Higher; Noah Education Shares Active
04/02/201415:58:33Vale Suspends Coal Shipments From Mozambique Mines
03/19/201412:23:43Vale Says Stock Price Pressured by China Worries
03/11/201417:21:55ADR Shares End Lower; Vale, Barclays Shares Active
03/11/201413:41:59Brazil's Petrobras Reveals BRL8.77 Billion in Tax Disputes
03/04/201417:13:52Glencore Xstrata Posts Large Loss -- 2nd Update
02/27/201414:51:43Brazil's Vale Doesn't Foresee New Debt Issuance This Year
02/27/201413:04:26Brazil's Vale Develops Green Iron Ore To Reduce China Emissions
02/27/201412:33:45Brazil's Vale Sees Ebitda In Base-Metals Division Surging
02/27/201407:21:49Falling Iron-Ore Prices Pinch Producers -- Update
02/26/201421:58:20Vale Posts Smallest Annual Profit Since Privatization -- Update
02/26/201420:30:25Brazil's Vale Posts Its Biggest Loss
02/26/201419:46:50Brazil's Vale Sees Chinese Economic Growth Gradually Slowing...

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