By Anna Prior
International companies trading in New York closed mixed Friday
amid positive trade data in Germany and a weakening yen in
Japan.
The Bank of New York index of ADRs rose 0.3% to 142.19.
In Germany, the Federal Statistics Office said exports rose 0.5%
and imports increased 0.8% in March, compared to February,
signaling that conditions in Europe's largest economy are picking
up.
Shares of Japanese exporters rose after the yen weakened against
the dollar, with the greenback buying Y100 for the first time since
2009. The dollar has gradually been climbing closer to the Y100
mark, after Japan's central bank in April unveiled an aggressive
easing program to spur growth and beat deflation.
The European index climbed 0.5% to 134.18.
Steel giant ArcelorMittal (MT, MT.FR, MT.AE) said Friday it was
still upbeat about the prospects for the global steel market in the
second half of the year, despite swinging to a first-quarter net
loss and trimming its global demand outlook. Shares of the
Luxembourg-based company rose 4.5% to $13.13.
Telecommunications firm BT Group PLC (BT, BT.A.LN) lifted
dividends 14% after posting better-than-expected fourth-quarter
results. Additionally, Bank of America Merrill Lynch upgraded the
U.K.-based firm to buy from neutral. Shares rose 12% to $47.51.
The Asian index added 0.2% to 145.42.
Chinese solar stocks rallied as China started making noise about
solving disagreements with Europe with negotiations, rather than
the tariffs, in response to news that the European Union had agreed
to hit Chinese solar firms with tariffs. News reports Friday
suggest that European companies are worrying that the duties will
do more harm than good. Trina Solar Ltd. (TSL, K3KD.SG) rose 20% to
$5.73, while Yingli Green Energy Holding Co. (YGE) climbed 12% to
$2.44 and JA Solar Holdings Co. (JASO) added 12% to $5.37. Also
posting gains were Renesola Ltd. (SOL), JinkoSolar Holding Co.
(JKS), Suntech Power Holdings Co. (STP, K3ND.SG) and LDK Solar Co.
(LDK).
The Latin American index dropped 0.8% to 324.47, and the
emerging markets index fell 0.4% to 285.55.
Argentina's state-run oil company YPF SA (YPF, YPFD.BA) said
late Thursday its first-quarter profit fell 2.8% on-year to 1.26
billion Argentine pesos ($240 million). Shares fell 3.8% to
$12.89.
Write to Anna Prior at anna.prior@dowjones.com