By Anna Prior
International companies trading in New York closed mostly higher Friday, as a stronger-than-expected November job growth report from the U.S. buoyed stocks.
The Bank of New York index of ADRs rose 0.2% to 129.37.
The U.S. added 146,000 jobs last month, the Labor Department reported, up from a downwardly revised 138,000 in October. Economists polled by Dow Jones Newswires had forecast a median of 80,000 in November.
Meanwhile, Germany's central bank cut its growth outlook for the country's economy in 2012 and next year.
The European index edged down 0.1% to 123.45.
Amarin Corp. (AMRN) said it will begin hiring a sales force to independently launch its cholesterol-reducing fish-oil pill Vascepa, disappointing investors who had hoped the Dublin biotech would have a partner by now. Amarin has already undertaken extensive preparations to launch the drug, but had held off on the costly move of hiring its own sales staff. Chief Executive Joseph Zakrzewski late Thursday said discussions with big pharmaceutical companies are "still quite active," however, "at some point we've got to move forward." Shares plunged 19% to $9.69.
Morgan Stanley downgraded Swiss pharmaceutical giant Novartis AG (NVS, NOVN.VX) to equal-weight from overweight, saying near-term estimates for the company's pharma, consumer and generics businesses seem optimistic. The investment bank says bullish expectations for recently launched products might not fully offset the impact of generic Diovan, while noting that consensus expectations for a bounce back in profitability in the consumer business don't jibe with "significant ongoing QA costs, investments in biosimilar R&D and the relaunch of consumer brands." Shares fell 0.3% to $62.32.
Bucking the downward trend were U.K. miners, which got a boost as most metals prices moved higher. Rio Tinto Plc (RIO, RIO.LN) up 1% to $52.40 and BHP Billiton Plc (BBL, BLT.LN) edged up 0.3% to $64.88.
The Asian index rose 0.6% to 124.28.
JinkoSolar Holding Co. Ltd. (JKS) said its Swiss subsidiary inked a strategic cooperation agreement with China Development Bank, in which the state-controlled bank will provide financing of up to $1 billion to the Chinese solar-products maker. Jinko's American depositary shares surged 14% to $4.68, as the company said the agreement will provide it with several advantages, such as a long-term stable source of capital and a complete set of finances services.
Fellow China-based solar stocks also rise: Trina Solar Ltd. (TSL, K3KD.SG ) up 9.9% to $3.10, ReneSola Ltd. (SOL) up 11% to $1.35, LDK Solar Co. Ltd. (LDK) up 11% to $1.00 and Yingli Green Energy Holding Co. Ltd. (YGE) up 4.1% to $1.78.
The Latin American index climbed 0.6% to 316.53, and the emerging markets index added 0.5% to 278.84.
Argentine state oil company YPF SA (YPF, YPFD.BA) is in advanced discussions with potential partners on the development of its shale assets, the company's chief executive said Friday. YPF could complete a deal with Bridas Energy Holdings Ltd. before the end of the year, while an agreement with U.S. oil major Chevron Corp. (CVX) will likely close in the first quarter of 2013, said CEO Miguel Galuccio, adding the deals would likely be similar in size. The company also said Friday it could seek to raise between $300 million and $500 million on international bond markets as early as next year. U.S.-listed shares jump 5.4% to $12.
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