By Tess Stynes
International companies trading in New York closed mixed on
Tuesday as positive U.S. data on the housing front offset a
disappointing consumer confidence report.
The Bank of New York index of ADRs fell 0.11% to 148.37. The
Asian index, was the only one to post an increase, up 0.15% to 149.
A reading of U.S. consumer confidence data for November showed a
decline, while economists had expected an increase. Earlier
Tuesday, data showed that housing permits rose to the highest level
in more than five years, while the S&P/Case-Shiller 20 City
home-price index for September rose 13.3%, slightly exceeding
expectations.
The European index eased 0.8% to 144.41. Rio Tinto PLC (RIO,
RIO.LN) shares were lower after the company scrapped plans to
convert the Gove alumina refinery in Australia to run on natural
gas, a move it had hoped would sharply reduce costs. Shares fell
1.9 % to $50.18.
Electricite de France (EDF.FR) said Tuesday it will sell its
entire 4.01% stake in utility Veolia Environnement SA (VE, VIE.FR).
The French power company always said it saw Veolia as a financial
investment rather than an eventual partner. The power company began
pulling away from Veolia two years ago amid a dispute over control
of Dalkia, a joint venture specialized in local energy services.
Veolia shares were down 1% at $16.40.
The emerging-markets index edged down 0.16% to 276.76 and the
Latin American index declined 1.04% to 288. The Brazilian
government showed reluctance to allow state-run oil company
Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR) to raise local
fuel prices. Shares fell 6.1% to $15.97.
The Wall Street Journal reported that Argentina would pay Repsol
SA (REPYY, REP.MC) $5 billion in Argentine government bonds to
compensate the Spanish oil company for expropriating its
controlling stake in Argentina's largest oil-and-gas producer YPF
SA (YPF, YPFD.BA) last year. Repsol shares rose 4.6% to $26.05. YPF
shares were up 10% at $29.37.
Write to Tess Stynes at tess.stynes@wsj.com
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