Apr 26, 2012
NEW YORK (Dow Jones)--International companies trading in New York closed higher Thursday, in line with the broader market, buoyed by solid earnings results.
The Bank of New York index of American depositary receipts rose 0.7% to 127.08.
Computer peripherals maker Logitech International SA (LOGI, LOGN.VX) on Thursday said it is making structural changes to continue its process of transformation after reporting a better-than-expected increase in fourth-quarter net profit as margins improved. Shares surged 21% to $9.46.
Unilever PLC (UL, ULVR.LN) Thursday posted a forecast-beating rise in sales, driven by volume and pricing gains in emerging markets, but the consumer goods company warned the global economic and cost environments remain challenging. Unilever's stock gained 3.1% to $34.74.
PetroChina Co. (PTR, K3OD.SG, 601857.SH, 0857.HK), the largest listed Chinese oil company by capacity, Thursday posted a 5.8% increase in first-quarter net profit, outperforming smaller rival China Petroleum & Chemical Corp. (SNP, 0386.HK, 600028.SH), or Sinopec, whose first-quarter earnings fell 35% from a year earlier. PetroChina shares rose 3.3% to $148.47 while Sinopec's ended off 0.1% to $105.14.
The European index gained 0.7% to 116.60.
Shares in Volkswagen AG (VLKAY, VOW.XE) surged 8.2% to $33.12 Thursday after the German auto maker posted better-than-expected first-quarter earnings and confirmed its guidance for the full year despite a fragile economic environment. Volkswagen peer Daimler AG (DDAIF, DAI.XE) also traded up 3.1% to $56.40.
Tenaris SA's (TS, TEN.MI) first-quarter earnings rose a better-than-expected 40% as the steel-tube maker saw sales in its key tubing business rise along with margins. Its earnings-per-share for the quarter beat estimates amid increased margins, and the stock ended 3.8% higher at $38.42.
Dassault Systemes SA (DASTY, DSY.FR) said its first-quarter earnings grew 14%, led by performance in Asia. Shares of the company rose 11% to $101.57.
The Asian index climbed 0.9% to 127 and the emerging-markets index gained 0.8% to 296.63.
Advantest Corp. (ATE, 6857.TO) said Thursday it swung to a net loss for the full fiscal year that ended in March, despite making a net profit in the fourth quarter, as its earnings were weighed down by weak global growth and acquisition-related costs in the first nine months of the year. Still, shares of the Japanese company rose 6.3% to $15.88.
Telekomunikasi Indonesia's (TLK, TLKM.JK) net profit rose 17.5% on year during the first quarter to IDR3.32 trillion thanks to rising earnings from its cellular business, the company said Thursday. Shares added 2.1% to $35.08.
The Latin American index rose 0.3% to 352.09.
Argentina's Senate voted in the small hours of Thursday morning to approve President Cristina Kirchner's bill to expropriate YPF SA (YPF, YPFD.BA), the country's biggest oil and gas company. YPF's stock added 5.1% to $13.99.
-By Corrie Driebusch, Dow Jones Newswires; 212-416-2143; email@example.com
(END) Dow Jones Newswires
April 26, 2012 16:57 ET (20:57 GMT)