By Anna Prior
International companies trading in New York closed lower Friday,
hit by disappointing U.S. data and confusion over whether Cyprus
was asking for more assistance for its bailout program.
The Bank of New York Index of American depositary receipts fell
0.6% to 137.47.
In the U.S., data pointed to weaker-than-expected consumer
sentiment and consumer buying. Retail sales for March fell 0.4%,
the biggest monthly decline since June, while economists had been
expecting a 0.1% decline. Plus, the producer-price index declined
0.6% in March, more than the expectation for a 0.4% decline.
Meanwhile in Europe, worries about Cyprus offset
better-than-expected production data. Cypriot President Nicos
Anastasiades said he would appeal for extra aid, but a Cypriot
finance ministry official attempted to clarify the statement by
saying the country isn't asking for more money, but rather for
structural and technical assistance to restore its economy.
The European index lost 0.4% to 128.99.
U.K.-based gold mining company Randgold Resources Ltd. (GOLD,
RRS.LN) shares fell 4.9% to $75.27 as gold prices slumped to the
lowest level since July 2011.
Other mining stocks also fell in New York trading. BHP Billiton
PLC (BBL, BLT.LN) was off 1.6% to $58.47, while Rio Tinto PLC (RIO,
RIO.LN) dropped 1.3% to $47.59.
The Asian index fell 1% to 140.10.
China Sunergy Co.'s (CSUN) fourth-quarter loss widened as the
solar cell and module maker's shipments fell short of its forecast
and revenue slipped significantly. The company said it expects
oversupply in the global solar market to persist through the new
year, but added that selective markets such as China and Japan are
improving, so it continues to target opportunities in those areas.
Shares fell 8.3% to $1.32.
India-based software exporter Infosys Ltd. (INFY, 500209.BY)
reported that its fiscal fourth-quarter net profit rose 3% from a
year earlier but revenue came in below expectations. The company
blamed a "volatile" world for disappointing results and said sales
will grow at just 6% to 10% over the next 12 months, well below
industry forecasts. Shares plunged 21% to $43.10.
The Latin American index dropped 0.6% to 326.98 and the
emerging-markets index shed 1.2% to 278.18.
Sharply lower global oil prices weighed on Colombian
state-controlled energy company Ecopetrol SA (EC, ECOPETROL.BO,
ECP.T). Shares fell 1.8% to $48.75, Ecopetrol's lowest closing
price in more than a year.
Brazilian aircraft manufacturer Embraer SA (ERJ, EMBR3.BR) said
it delivered 29 planes in the first quarter, down from 34 jets
delivered in the same period of 2012, as tepid global activity hurt
demand for aircrafts. Shares fell 1.7% to $35.62.
-Write to Anna Prior at anna.prior@dowjones.com