By Anna Prior
International companies trading in New York declined Tuesday
amid lower European inflation data.
The Bank of New York index of American depositary receipts fell
0.4% to 146.44.
October German consumer inflation fell to its lowest level since
April, and in the U.K., the annual rate of inflation fell in
October to its lowest level in more than a year.
Meanwhile in the U.S., investors weighed conflicting comments
from Federal Reserve officials on when the central bank might begin
tapering its monetary support of the economy.
The European index dropped 0.5% to 142.59.
Goldman Sachs downgraded the Royal Bank of Scotland Group PLC
(RBS, RBS.LN) to neutral from buy, saying that while it views the
strategy outlined by RBS with its third-quarter results favorably,
the capital guidance has changed as well, reducing the potential
upside in RBS shares. Shares fell 2.1% to $10.57.
Vodafone Group PLC (VOD, VOD.LN) Tuesday swung to a first-half
profit and said it would ramp up network spending across the globe,
as the mobile company chases growth in Europe and expansion in
emerging economies following the landmark sale of its U.S.
business. Shares rose 1.1% to $36.68.
The Asian index edged down 0.1% to 146.63.
Yingli Green Energy Holding Co. (YGE) reported a slightly
wider-than-expected third-quarter loss, sending shares lower. The
Chinese solar-panel maker company reaffirmed its full-year
panel-shipment guidance. Still, shares fell 11% to $6.20.
Other Chinese solar stocks fell as well, including Hanwha
SolarOne Co. (HSOL), which declined 14% to $4.36, and JinkoSolar
Holding Co. (JKS), which dropped 4.5% to $27.62.
The Latin American index fell 1% to 285.10, and the
emerging-markets index shed 0.7% to 272.08.
Shares of Brazilian mining company Vale SA (VALE, VALE3.BR,
VALE5.BR) fell, despite Vale's $1.65 billion sale of a stake in
Norway's Norsk Hydro. Traders said Vale's shares were down on
worries about Chinese economic growth and long-term demand for iron
ore, according to The Wall Street Journal. Shares fell 3.5% to
$15.40.
Write to Anna Prior at anna.prior@wsj.com