By Dow Jones Business News, October 17, 2013, 05:23:00 PM EDT
By Anna Prior
International companies trading in New York closed higher Thursday a day after U.S. lawmakers struck a deal to end the
partial government shutdown and raise the debt ceiling.
The Bank of New York index of ADRs jumped 1.33% to 148.99.
Investors are now starting to turn their focus away from U.S. politics and have started to wrestle with corporate-
earnings reports. On Thursday, Swiss heavyweight Nestle SA (NSRGY, NESN.VX) gave an upbeat earnings report.
The European index rose 1.5% to 143.30.
Financial stocks added to gains. UBS AG (UBS, UBSN.VX) rose 1.3% to $21.10; Banco Santander SA (SAN, SAN.MC) was up 2%
to $9.27; Lloyds Banking Group PLC (LYG, LLOY.LN) was up 2.2% to $5.05; and Deutsche Bank AG (DB, DBK.XE) added 1.4% to
Amarin Corp. PLC ( AMRN ) said a U.S. Food and Drug Administration advisory committee has voted against the approval of
its supplemental new drug application for its cholesterol drug Vascepa. Shares plunged 61% to $2.01.
The Asian index added 1.1% to 151.22.
Pactera Technology International Ltd. ( PACT ) agreed to a sweetened offer to be taken private by a group led by U.S.
private-equity firm Blackstone Group L.P. ( BX ) valued at about $589 million. The Chinese information-technology
outsourcing company's shareholders would receive $7.30 per American depositary share. Shares rose 8.1% to $7.07.
The Latin American index climbed 0.7% to 305.37 and the emerging-markets index added 0.9% to 287.54.
Argentinian shares adding to gains included Cresud SA (CRESY, CSNA3.BR), which rose 8.7% to $10.65; IRSA Inversiones y
Representaciones SA (IRS, IRSA.BA), up 6.8% to $11.58; and Edenor SA (EDN, EDN.BA), which rose 6.1% to $6.31.
Shares of Brazilian steel companies fell, however, after Bank of America Merrill Lynch reduced its recommendation on
Gerdau SA (GGB, GGBR3.BR, GGBR4.BR) to hold from outperform, and reiterated its underperform recommendation on Companhia
Siderurgica Nacional (SID, CSNA3.BR). Gerdau shares fell 3.4% to $7.96, while Companhia Siderurgica shares edged down
0.3% to $5.46.
Scotiabank played down market speculation that Potash Corp. (POT) may consider trying to buy the 67% stake of Chilean
potash producer Sociedad Quimica y Minera de Chile SA (SQM, SQM-B.SN) it doesn't already own to take advantage of SQM's
relatively weak stock price. SQM shares fell 0.8% to $27.46.
Write to Anna Prior at firstname.lastname@example.org
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