DR Market Summary

ADR Report: Solid Earnings Results Lift Shares

May 10, 2012

NEW YORK (Dow Jones)--International companies trading in New York closed higher Thursday, lifted by a slew of positive quarterly earnings results.

The Bank of New York index rose 0.6% to 121.42.

Spanish oil company Repsol YPF SA (REPYY, REP.MC) moved Thursday to demonstrate that it has a solid future without its recently nationalized Argentine unit, as it published first-quarter earnings figures that showed a net profit increase both with and without YPF SA (YPF, YPFD.BA). Shares of Repsol jumped 6.9% to $18.33.

Dutch insurer and pensions company Aegon NV (AEG, AGN.AE) reported a surprise increase in first-quarter net profit Thursday, helped by investment gains and lower impairments, and said it will continue focusing on bolstering its capital buffer to shield itself from economic uncertainties. Shares added 9.3% to $4.69.

The European index gained 0.7% to $111.58.

Italian lender UniCredit SpA (UNCFF, UCG.MI) reported a 13% increase in first-quarter net profit, beating analysts' estimates, lifting its shares 7.5% to $3.71. The results, in addition to a move by the government late Wednesday to take a 45% stake in Bankia SA (BKIA.MC), effectively nationalizing the troubled lender, buoyed shares of financials across the region.

Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC) jumped 5.1% to $6.81 and Banco Santander SA (STD, SAN.MC) climbed 5.3% to $6.33.

France's antitrust agency Thursday authorized retailer Carrefour SA (CRRFY, CA.FR) to buy smaller domestic peer Guyenne et Gascogne SA (GG.FR), as the acquisition isn't likely to hamper competition in the southwest of the country where Guyenne et Gascogne operates. Shares of Carrefour added 2.2% to $3.70.

Offsetting those gains was Danish shipping company Torm A/S (TRMD, TORM.KO), which tumbled 22% to 35 cents, after it said Thursday that its first-quarter net loss widened considerably due to weak rates, loan costs and losses on the sale of ships.

The Asian index rose 0.2% to $121.48.

Orix Corp. (IX, 8591.TO) said Thursday net profit in the fiscal year ended March rose by close to a third from a year earlier, boosted by a strong performance in its international airplane leasing operations. Shares ended up 7.3% at $47.

Semiconductor Manufacturing International Corp. (SMI, 0981.HK) said Thursday it swung to a net loss in the first quarter due to falling wafer shipments. Shares still rose 3.5% to $2.39 as the results were better than analysts were expecting.

The emerging markets index gained 0.4% to 283.12.

AngloGold Ashanti Ltd. (AU, ANG.JO), Africa's largest gold producer, Thursday said its profit roughly doubled in the first quarter despite a drop in output on the year and that it has approved spending to grow its production. Shares were lifted 4.7% to $34.07.

The Latin American index ended up 0.3% at 332.

The Brazilian mining giant Vale SA (VALE, VALE3.BR, VALE5.BR, VALE5.FR) obtained a favorable ruling in a legal dispute over the payment of taxes on overseas profits with Brazil's government. Shares inched 0.2% higher to $20.55.

-By Corrie Driebusch, Dow Jones Newswires; 212-416-2143; corrie.driebusch@dowjones.com

(END) Dow Jones Newswires

May 10, 2012 16:36 ET (20:36 GMT)

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