Apr 25, 2012
NEW YORK (Dow Jones)--International companies trading in New York closed higher Wednesday, in line with the broader market, after some encouraging earnings reports.
The Bank of New York index of ADRs rose 0.6% to 126.21.
Apple Inc.'s (AAPL) strong fiscal second-quarter results boosted stocks of technology companies around the globe.
Phone maker Alcatel-Lucent (ALU, ALU.FR) advanced 3.7% to $1.95 and chip-maker ARM Holdings PLC (ARMH, ARM.LN) also keyed off Apple's success, ending up 2.7% at $25.84.
Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC) rose 2.8% to $6.93 after it reported a slight decline in first-quarter profit but beat forecasts. Additionally, it said it has met the European Union's capital requirements.
The European index gained 0.8% to 115.83.
Steel maker Ternium SA (TX) said it expects slightly higher operating income in the second quarter due to an increase in shipments. Shares added 5.2% to $23.06.
Fiat Industrial SpA (FNDSF, FI.MI) confirmed its financial targets for the year as it reported a big jump in first-quarter net profit, boosted by the strength of its U.S. tractor and combine business, CNH Global NV (CNH, NHL.FF), which saw business grow in nearly every market. Shares of CNH Global rose 3.4% to $45.58.
The Asian index climbed 0.6% to 125.82 and the emerging markets index edged up 0.2% to 294.24.
Canon Inc. (CAJ, 7751.TO) reported an 11% rise in net profit for the first quarter and raised its full-year forecasts, expecting a weaker yen to lift the bottom line. Shares of the Japanese maker of cameras rose 1.4% to $47.06.
However, the Latin American index shed 0.4% to 351.11.
Brazil's second-largest bank by assets, Itau Unibanco Holding S/A's (ITUB, ITUB3.BR, ITUB4.BR) expects to increase its provisions in the next few quarters in order to cover the rise in the nonperforming loans rate. Shares of the bank fell 5.7% to $15.77.
-By Corrie Driebusch, Dow Jones Newswires; 212-416-2143; email@example.com
(END) Dow Jones Newswires
April 25, 2012 16:56 ET (20:56 GMT)