DR Market Summary

ADR Report: Shares Higher on Chatter Ahead of Greek Election

Jun 14, 2012

International companies trading in New York closed higher Thursday, in line with the broader market, as speculation swirled about the outcome of the election in Greece this weekend.

The Bank of New York index of ADRs rose 0.6% to 114.80.

European banks rose amid chatter of "secret" opinion polls suggesting the New Democracy party will be victorious, and a pro-bailout government will be formed.

In addition, Reuters reported late Thursday that central banks are preparing coordinated efforts to provide liquidity if necessary after the Greek elections.

Credit Agricole SA (CRARY, ACA.FR) added 4.9% to $1.92 and Societe Generale SA (SCGLY, GLE.FR) climbed 1.7% to $4.23.

Shares in Switzerland's Credit Suisse Group AG (CS, CSGN.VX) plunged 9.4% to $17.97, however, after the Swiss National Bank said Swiss banks must keep strengthening their capital base.

The European index climbed 0.7% to 106.45.

Greek stocks surged ahead of parliamentary elections scheduled for the weekend.

Shares of National Bank of Greece SA (NBG, ETE.AT) soared 31% to $1.61. Coca-Cola Hellenic Bottling Co. SA (CCH, EEEK.AT) rose 7.9% to $16.99 and Hellenic Telecommunications Organization SA (HLTOY, HTO.AT) ended up 18% at $0.97.

The Asian index gained 0.5% to 113.56.

JA Solar Holdings Co. Ltd. (JASO) plans to repurchase roughly $100 million, or more than half, of its American depositary shares outstanding before the end of September. Shares jumped 13% to $1.06.

Taiwanese panel maker AU Optronics Corp. (AUO, 2409.TW) said Thursday its plant at Taoyuan County in northern Taiwan is likely to resume operations in three to five days after being struck by several earthquakes on Wednesday. The company said in a statement the earthquake didn't have a significant impact on operations and that it is still assessing the financial damage.

Shares added 1.6% to $3.94.

The Latin American index ended up 0.4% at 304.48 and the emerging markets index rose 0.2% to 262.01.

Mexico's antitrust commission, reversing an earlier decision, said Thursday that broadcast and media concern Grupo Televisa SAB (TV, TLEVISA.MX) can take a 50% stake in mobile-phone operator Grupo Iusacell, but conditioned the joint venture to a number of issues involving television advertising, programming and corporate governance. The conditions, if accepted by the broadcaster, would mark Televisa's entry into the coveted mobile-phone market.

Shares of Grupo Televisa gained 2.5% to $20.10.

Write to Corrie Driebusch at corrie.driebusch@dowjones.com

(END) Dow Jones Newswires

June 14, 2012 16:40 ET (20:40 GMT)

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to
"Terms Of Use".

DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE

© 2014 The Bank of New York Mellon Corporation. Depositary Receipt business and services are conducted through The Bank of New York Mellon.

Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions