ADR Report: Shares Higher As Oil Climbs
February 24 2012 - 4:08PM
Dow Jones News
International companies trading in New York closed higher Friday
as oil futures rocketed up to nine-month highs on fears about a
possible supply disruption due to Iran tensions.
The Bank of New York index of ADRs rose 0.5% to 133.18 as oil
companies gained.
Light, sweet crude futures rose for the seventh-straight session
to as high as $109.95 a barrel as concerns grew that the stand-off
between Iran and Western countries would lead to shortages.
Oil and gas company BG Group PLC's (BRGYY, BG.LN) stock rose
2.2% to $24.50, Statoil ASA (STO, STL.OS) climbed 1.7% to $28.19
and Repsol YPF SA (REPYY, REP.MC) added 1.4% to $27.77.
The European index gained 0.5% to 121.88.
Nokia Corp. (NOK, NOK1V.HE) shares traded up 4.7% to $5.80 amid
market speculation about the nature of the company's upcoming
"significant industry news" to be delivered at the Mobile World
Congress, said Jyske Bank analyst Robert Jakobsen. He speculated
the news may be regarding new camera technology or a phone that can
take on the mid-market segment where Nokia has been losing share.
The agenda-setting event kicks off next week.
The Asian index jumped 0.7% to 131.11.
Gushan Environmental Energy Ltd. (GU) shares surged 21% to $1.49
after it said its board of directors received a preliminary
nonbinding proposal letter from its chairman to acquire all the
company's outstanding shares for $1.599 each.
51job Inc.'s (JOBS) fourth-quarter revenue rose nearly 23% year
over year as online recruitment services revenue increased. Shares
of the human-resource services provider gained 12% to $50.64.
The Latin American index rose 0.6% to 382.82.
Mexican airport operator Grupo Aeroportuario del Centro Norte
SAB (OMAB, OMA.MX), known as OMA, reported its fourth-quarter
aeronautical and nonaeronautical revenue grew 29%. Shares added
3.5% to $16.56.
The emerging markets index added 0.6% to 315.71.
Metals shares gained as the sector saw buying on hopes commodity
prices will rally following a jump in global crude oil prices over
the past few weeks. Sterlite Industries Ltd. (SLT, 500900.BY)
gained 4.8% to close at $9.78.
-By Corrie Driebusch, Dow Jones Newswires; 212-416-2143;
corrie.driebusch@dowjones.com
Silverline Tech 1:10 (NYSE:SLT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Silverline Tech 1:10 (NYSE:SLT)
Historical Stock Chart
From Jul 2023 to Jul 2024