By Corrie Driebusch
International companies trading in New York closed slightly
higher Monday, as European bank stocks rebounded on hopes that
European officials will find a way to backstop the euro zone's
troubled financial sector.
The Bank of New York index of ADRs edged up 0.4% to 110.08.
Shares of Spain's Banco Santander SA (STD, SAN.MC) rose 5.6% to
$6.03, while Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC)
jumped 5.6% to $5.63.
French banks BNP Paribas SA (BNPQY, BNP.FR) and Societe Generale
SA (SCGLY, GLE.FR) rose 4.5% to $16.78 and 5.1% to $4.09,
respectively.
The European index rose 0.6% to 101.55.
AXA Private Equity said Monday it sold a 21% stake in public
transport operator Keolis SA that it controlled with private equity
firm Pragma Capital to French rail operator SNCF. The transaction
details weren't disclosed, but shares of AXA Private Equity's
parent, AXA SA (AXAHY, CS.FR), climbed 2.7% to $11.26.
The Asian index added 0.1% to 108.99.
Gushan Environmental (GU) agreed to a "going private"
transaction with Trillion Energy Holdings, Trillion Energy
Investment Holdings and Jianqiu Yu, the company's chairman. The
offer of $1.62 per share is a 78% premium to the stock's Friday
close. Shares of Gushan surged 46% to $1.33.
China Southern Airlines Co.'s (ZNH, K3TD.SG, 600029.SH, 1055.HK)
state-owned parent, China Southern Air Holding Co., is considering
injecting capital into the carrier in a bid to reduce its debt, the
country's largest airline by fleet size said Monday. Shares of the
airline rose 1.2% to $22.09.
The Latin American index gained 0.2% to 298.37, and the emerging
markets index edged up 0.1% to 254.16.
A recent strike by workers building Brazil's controversial Belo
Monte dam has added to delays caused by a long licensing process,
but shouldn't lead to significant cost or time overruns, the dam's
director of construction said Monday. According to Norte Energia
SA, the group responsible for the construction and operation of the
dam, the dam will cost 25.8 billion Brazilian reais ($12.6 billion)
to build. Its biggest stakeholder is state-run utility Centrais
Eletricas Brasileiras (EBR, ELET6.BR), whose shares gained 1.1% to
$6.38.
Write to Corrie Driebusch at corrie.driebusch@dowjones.com