By Michael Calia
International companies trading in New York closed higher Friday
as positive signs for a potential debt-limit deal kept emerging
from Washington.
The Bank of New York index of American depositary receipts added
0.8% to 146.10.
Overall, stocks closed higher again on hopes of a deal to end
the political impasse between the White House and Republican
lawmakers. President Barack Obama and House Speaker John Boehner on
Friday agreed to continue talking about reopening the federal
government and extending the nation's borrowing limit.
House Republicans have made an offer to the White House to raise
the debt ceiling for six weeks and end the partial government
shutdown, in exchange for broader budget talks.
The European index rose 0.7% to 140.05.
Among the gainers, Diageo (DEO, DGE.LN) was upgraded by Exane
BNP Paribas to outperform from neutral. "Diageo offers better
visibility amongst distillers," Exane says. "We expect Diageo to
deliver the highest growth rate amongst the large cap distillers
and the most consistent earnings growth as measured by its
volatility." Diageo shares were up 2.1% to $126.56.
Bucking the trend was Royal Bank of Scotland Group PLC (RBS,
RBS.LN), which was down 2.5% to $12.04. The Federal Bureau of
Investigation has begun a criminal investigation into possible
rigging of foreign-exchange markets, The Wall Street Journal
reported. Britain's Financial Conduct Authority, which began
investigating in June, has had discussions with multiple banks,
including RBS, among others. RBS has turned over electronic
communications of a former employee to the FCA.
The Asian index rose 1.2% to 149.68.
China's Trina Solar Ltd. (TSL) said a lawsuit recently filed by
failed solar-panel manufacturer Energy Conversion Devices over an
alleged scheme to dump low-cost solar panels in the U.S. is
"without merit." The solar-products maker said Friday it wasn't
able to currently evaluate the potential business impact of the
lawsuit on its business. Trina shares rose 3.7% to $16.64.
The Latin American index rose 0.9% to 299.20, and the emerging
markets index rose 1.2% to 282.65.
India's Infosys Ltd. (INFY, 500209.BY) shares rose 6.2% to
$53.40 as it said its revenue rose 15% in the second quarter,
although earnings declined 11%.
Grupo Simec S.A.B de C.V. (SIM) said it repurchased 250,000
shares Thursday, part of its repurchase fund of a billion pesos.
Shares of the company were up 3.9% to $12.13.
Write to Michael Calia at michael.calia@wsj.com
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