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ADR Report: Shares Slide As Greek Fears Trigger Bank Losses

By Ian Thomson Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- International companies trading in New York closed lower Friday, in line with the broader markets, as uncertainty over Greece intensified after euro-zone finance ministers held off on approving the country's second bailout. The Bank of New York Index of ADRs dropped 1.8% to 129.85, with banks driving the losses. National Bank of Greece SA's (NBG, ETE.AT) shares tumbled 9.2% to $3.44, and France's three largest banks all posted sharp declines. Societe Generale SA (SCGLY, GLE.FR) closed 8.5% lower at $6.06, Credit Agricole SA (CRARY, ACA.FR) slipped 7.6% to $3.42, and BNP Paribas SA (BNPQY, BNP.FR) fell 6.1% to $22.91. UBS lowered its stock-investment rating on ING Groep NV (ING, INGA.AE) to neutral from buy, citing a strong share performance relative to the sector in the past year. "With asset quality worsening and our concerns over the Dutch mortgage market, the risk to earnings estimates is to the downside," the firm said. ING shares slid 7% to $8.54. The European index fell 1.5% to 119.09. Demand for diamonds will be lower this year due to the dismal global economic climate, diamond mining company De Beers SA said. The announcement weighed on the shares of fellow mining company Anglo American PLC (AAUKY, AAL.LN), whose shares lost 5.1% to close at $21.55. J.P. Morgan Cazenove downgraded Britain's National Grid PLC (NGG, NG.LN) to neutral from overweight, noting that the 2012 outlook for Europe's second-best performing utility over the past 12 months is more challenging given upcoming regulatory reviews. Shares closed down 1.6% at $50. The Latin American index slipped 2.4% to 375.48. Heavy fuel imports, dry oil wells and impairment charges combined to send fourth-quarter net profit at Brazilian federal oil company Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, plummeting more than 50% year-on-year, falling well short of analysts' expectations. Shares slumped 7.6% to $29.57. Crude oil futures prices fell in line with broader market declines as the International Energy Agency cut its estimates for global oil demand this year. That led to losses for other South American oil and gas companies. Argentina's YPF SA (YPF, YPFD.BA) fell 1.5% to $34.32, and Colombia's Ecopetrol SA (EC, ECP.T, ECOPETROL.BO) declined 1% to $52.91. The Asian index closed 2.2% lower at 126.70, and the emerging markets index dropped 2.1% to 309.84. Advanced Semiconductor Engineering Inc. (ASX, 2311.TW), the world's largest chip-packaging and testing company by revenue, saw its fourth-quarter net profit fall 46% because of weaker global demand. The Taiwan-based company's shares slid 3.2% to $4.79. Taiwan Semiconductor Manufacturing Co. (TSM, 2330.TW) said its unconsolidated revenue in January fell 1.1% from the same month last year. The world's largest contract chip maker by revenue also said consolidated revenue slipped 2.3% from a year earlier. Shares closed 3.1% lower at $13.84. Citigroup suggested the recent rally in solar stocks may be getting ahead of itself, arguing that margins may not snap back as quickly and noting demand is coming from China and India, where prices are "very, very low." China's solar companies slumped, with Yingli Green Energy Holding Co. (YGE) tumbling 9.5% to $5.34, Trina Solar Ltd. (TSL, K3KD.SG) closing 7.3% lower at $10.15 and Hanwha SolarOne Co. (HSOL) falling 5.6% to $2.20. -By Ian Thomson, Dow Jones Newswires; 212-416-2314; ian.thomson@dowjones.com

Stock News for Yingli Grn Engy Adr (YGE)
DateTimeHeadline
04/14/201506:00:00Yingli Green Energy Participates in 2015 China PV Industry Development...
04/08/201514:25:38Solar Module Manufacturers - Who Can Benefit From Demand Growth?...
04/07/201506:09:00Yingli Green Energy Powers 15 MW of Solar Projects for Marina...
04/05/201509:00:02The Biggest Challenge Facing SolarCity and Vivint Solar in 2015
03/29/201521:46:13Avoid Yingli Green Energy
03/29/201503:23:53Yingli Reports Earnings
03/28/201517:50:34Yingli Green Energy: Down, But Not Out
03/28/201511:53:33Yingli: Bright Outlook Despite Disappointing Quarter
03/27/201522:00:00Yingli Joins Earth Hour 2015 to Fight Air Pollution in China
03/27/201517:53:00India's Commitment To Solar PV Will Deeply Impact Solar Manufacturing
03/27/201503:41:39Yingli Loss Widens, Joins $1 Club
03/26/201506:08:14Report of Foreign Issuer (6-k)
03/25/201509:41:57Yingli -9.5% on Q4 miss; ASP decline, forex weighs on results
03/25/201509:11:24Premarket Gainers / Losers as of 9:10 am
03/25/201507:55:00Yingli Green Energy Holding Company Limited (YGE) Q4 2014 Results...
03/25/201506:26:13Yingli Green Energy misses by $0.34, misses on revenue
03/25/201506:13:00Yingli Green Energy Reports Fourth Quarter and Full Year 2014...
03/23/201518:19:34Yingli Green Energy - Making The Right Moves
03/22/201511:00:02China's New Solar Target Could Set the Stage for a Solar Boom
03/20/201509:36:11Taking Advantage Of The Oil And Solar PV Disconnect

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