MR Montage Resources Corporation

International companies trading in New York closed higher Monday as hopes for the impending U.S. earnings season overpowered a batch of unsettling headlines from Europe.

The Bank of New York index of ADRs climbed 0.4% to 120.83, fueled by positive corporate news from outside the financial sector.

Daimler AG (DDAIY, DAI.XE) Chief Executive Dieter Zetsche said the German maker of Mercedes-Benz luxury cars might exceed an anticipated overall market growth of around 4% this year and expects to maintain its profitability level. Rising demand in emerging markets and gains in the U.S. are expected to drive growth this year, Zetsche told reporters. Shares of Daimler gained 1.6% to $47.05.

Spain's Banco Santander SA (STD, SAN.MC) may sell more non-core assets in order to reach core capital requirements of 10% by June, including its European insurance business, Chief Financial Officer Jose Antonio Alvarez said Monday. Shares rose 0.9% to $6.97.

The European index rose 0.2% to 111.88.

Exane BNP Paribas upgraded National Grid PLC (NGG, NG.LN) to outperform from neutral, saying it sees further upside for the stock despite a strong share-price performance in 2011. The firm said the company's "prospects for value creation are unmatched by many of its European peers," and a new regulatory framework in its U.K.-regulated activities from March 2013 should be a supportive source of re-rating for the stock. Shares gained 3% to $48.51.

Deutsche Bank upgraded InterContinental Hotels (IHG, IHG.LN) to buy from hold, noting that the company has significant U.S. exposure and a strong balance sheet that allows it to pursue acquisitions while still offering a special dividend. Shares increased 2% to $18.64.

The Asian index added 0.5% to 116.36, as the emerging markets index climbed 1.2% to 283.17.

Chinese and Hong Kong stocks surged on Monday as hopes that Beijing may soon relax its monetary policies to support economic growth spurred strong buying across sectors. Most emerging-market currencies were stronger after euro-zone concerns that resurfaced earlier in the day tapered off.

Mindray Medical International Ltd. (MR, K3QD.SG) forecast upbeat 2011 earnings as the Chinese medical-device company said it saw strong sales in China despite a challenging global economy. The company expects to bring in $878 million in revenue for 2011, above estimates of $856 million from analysts polled by Thomson Reuters. Mindray Medical shares climbed 6.2% to $27.98.

WuXi PharmaTech (Cayman) Inc. (WX) estimated it will slightly exceed the high end of its revenue guidance for the year, continuing the company's streak of strong sales. Shares rose 2% to $12.21.

Mitsubishi UFJ Trust and Banking Corp. plans to invest up to Y150 billion in European and U.S. asset-management firms over a three-year period starting in fiscal 2012, Nikkei reported early Tuesday. The Mitsubishi UFJ Financial Group Inc. (MTU, 8306.TO) unit plans to leverage the strong yen to pursue acquisitions as its sees strong growth potential overseas. Shares of the parent company finished up at 1.4% to $4.30.

The Latin American index advanced 1.6% to 341.74.

The Brazilian real strengthened Monday. After the currency performed poorly last week, traders saw little room for the real to continue sliding, as chances increase of the central bank intervening should the real weaken beyond 1.90 per dollar. Relative calm in Europe over the weekend also helped the real rebound. This helped Brazil's largest companies rally, including mining company Vale SA (VALE, VALE5.BR), whose shares rose 0.6% to $22.50 despite heavy rains leading to "momentary halts" in production.

Brazilian airlines Gol Linhas Aereas Inteligentes (GOL, GOLL4.BR) and Tam SA (TAM, TAMM4.BR) also climbed despite market-share losses in November as smaller rivals gained, civil aviation agency Anac said Monday. Shares of Gol Linhas Aereas closed 1.9% higher at $6.62, and Tam finished 0.9% higher at $19.66.

-By Maya Pope-Chappell, Dow Jones Newswires; 212-416-3670; Maya.pope-chappell@dowjones.com

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