International companies trading in New York closed mostly higher
Monday, with the Bank of New York index of American depositary
receipts adding 0.6% to 151.45. The European index rose 0.8% to
152.38, the Asian index added 0.3% to 144.36, the Latin American
index was flat at 259.92, and the emerging-markets index was
essentially flat at 263.77. Among the companies with shares that
actively traded was HSBC Holdings PLC (HSBC, HSBA.LN).
HSBC said flat revenue and higher operating costs weighed on
profit growth last year, adding to concerns about the bank's
prospects this year as some of its significant markets cool and
capital requirements rise. Shares slipped 2.4% to $53.04.
Gold Fields Ltd. (GFI, GFI.JO) reported an 8% decline in 2013
mineral resources primarily due to the impact of gold prices and
mining depletion during the year. Shares of the South African gold
miner fell 0.8% to $3.99.
Deutsche Bank AG (DB, DBK.XE) plans to cut its U.S. assets by
around a quarter to $300 billion in the coming years to comply with
new rules for foreign-bank subsidiaries published by the U.S.
Federal Reserve last week. Germany's largest lender aims to
reassign activities from the U.S. to other regions like Europe or
Asia, a spokesman for the bank told The Wall Street Journal,
confirming statements Chief Financial Officer Stefan Krause made to
the Financial Times. Shares rose 1.6% to $48.88.
Nokia Corp. (NOK, NOK1V.HE) took the wraps off its low-end Nokia
X smartphone, the first in a new family of phones running Google
Inc.'s (GOOG) Android software designed to regain Nokia's eroding
position in developing markets. Priced at 89 euros ($122) excluding
carrier subsidies and taxes, the smartphone hits an attractive
pricing level in places such as India, Indonesia and Russia, and
fills a hole in Nokia's product portfolio. Shares rose 2.1% to
$7.62.
Vodafone Group PLC (VOD, VOD.LN), which is locked in a $2
billion tax fight with the Indian government, has asked for
arbitration proceedings under a bilateral investment treaty, a
senior government official said Monday. The latest twist in the
yearslong battle came days after the U.K.-based telecommunications
company criticized what it said were inordinate delays in
negotiations aimed at resolving the dispute. Shares added 3.9% to
$41.20.
Credit Suisse Group AG (CS, CSGN.VX) Chief Executive Brady
Dougan is scheduled to testify Wednesday at a U.S. Senate
subcommittee hearing on offshore tax evasion, a move that comes as
the Swiss bank seeks to settle allegations it helped Americans
evade their obligations. Shares rose 0.9% to $31.74.
Mexican telecommunications heavyweight America Movil SAB (AMX,
AMX.MX) said it may hold talks with the Austrian government about
forming a shareholder syndicate agreement, a potential tie-up that
could indicate a bid for control of telecommunications company
Telekom Austria AG (TKAGY TKA.VI). America Movil shares slipped
1.5% to $19.84.
Write to Anna Prior at anna.prior@wsj.com
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