Apr 27, 2012
NEW YORK (Dow Jones)--International companies trading in New York closed higher Friday, in line with the broader market, as European banks rose after a well-received Italian bond auction.
The Bank of New York index of ADRs climbed 0.4% to 127.62.
The Italian bond auction calmed investor nerves following a double-notch downgrade of Spain's credit rating.
Shares of Credit Agricole SA (CRARY, ACA.FR) gained 4.1% to $2.54, and Societe Generale SA (SCGLY, GLE.FR) ended up 2.4% at $4.79.
The European index added 0.4% to 117.06.
Sanofi SA (SNY, SAN.FR) Friday reported a 50% increase in first-quarter net profit thanks to higher sales--particularly in the U.S. and emerging markets--and the first-time inclusion of Genzyme, a biotechnology company acquired last year. Shares rose 2.3% to $38.60.
CRH PLC's (CRH, CRH.DB) stock gained 3.3% to $20.67 as JPMorgan Cazenove upgrades its stock-investment rating on the company to overweight from underweight. "Americas Products has the potential to provide huge upside surprise, as it benefits from the U.S. private sector recovery," says JPMorgan.
Eni SpA's (E, ENI.MI) shares climbed 1.8% to $44.82 as the exploration and production operations pushed its first-quarter earnings higher thanks to the recovery of Libyan output and higher crude prices on the year.
The Asian index edged up 0.4% to 127.55.
Honda Motor Co. (HMC, 7267.TO) on Friday forecast its net profit would more than double in the fiscal year started in April, to 470 billion yen ($5.8 billion) from JPY211.48 billion, powered by strong demand in Asia and North America, as the auto maker snaps back from production disruptions after natural disasters in Japan and Thailand. Shares rose 1.6% to $36.53.
The Latin American index ended up 0.6% at 354.08, and the emerging-markets index added 0.6% to 298.46.
Mexican telecommunications company America Movil SAB (AMOV, AMX, AMX.MX) said Thursday its profit jumped 38% in the first quarter, compared with a year ago, as gains from a stronger Mexican peso and other currencies complemented growth in revenue and operating profits. Shares traded 3.7% higher to $26.05.
-By Corrie Driebusch, Dow Jones Newswires; 212-416-2143; email@example.com
(END) Dow Jones Newswires
April 27, 2012 16:38 ET (20:38 GMT)