$FSLR News ADR Shares End Higher as Mining Shar
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Posted On: 04/25/2013 7:17:34 AM
$FSLR News
ADR Shares End Higher as Mining Shares Bounce Back
By Mia Lamar
International companies trading in New York closed higher Wednesday amid strong gains for mining shares.
The Bank of New York index of ADRs closed 0.7% higher at 137.67.
Copper, gold and platinum futures all rose Wednesday as buyers began to bet that sharp sell-offs in recent weeks have run their course.
Shares of South African gold miner Harmony Gold Mining Co. (HMY, HAR.JO) were the biggest gainer, jumping 13% to $5.23. The stock, which has been battered by the recent plunge in gold prices, is still down 18% for the month.
The Latin American index rose 0.6% to 321.84 and the emerging markets index gained 0.8% to 278.32.
Shares of mining giant Vale SA (VALE, VALE5.BR) also gained as investors anticiapted the company's best bottom-line result in a year when it reports results later Wednesday. Shares rose 2.2% to $16.75.
The European index rose 0.8% to 129.51.
Italy's Eni SpA (E, ENI.MI) expects the massive Kashagan oil field in Kazakhstan to start output around the middle of the year, said Claudio Descalzi, the head of exploration and production at Italy's biggest energy company by market value, on Wednesday. Shares rose 1% to $46.57.
Elsewhere, France Telecom SA (FTE, FTE.FR) shares gained 2.7% to $10.47 after the comany reported a 9% drop in first-quarter earnings but stuck with its full-year targets. France Telecom is hoping to use a new high-speed wireless service, dubbed LTE or 4G, as a lever to raise prices again.
The Asian index rose 0.5% to 140.46.
Chinese solar stocks ended broadly higher following word that Southern Co. (SO) and Turner Enterprises Inc. have bought a 139-megawatt solar farm in the California desert from First Solar Inc. (FSLR). Shares of fellow solar-panel manufacturer and developer SunPower Corp. (SPWR) surged 10% to $12.26.
ADR Shares End Higher as Mining Shares Bounce Back
By Mia Lamar
International companies trading in New York closed higher Wednesday amid strong gains for mining shares.
The Bank of New York index of ADRs closed 0.7% higher at 137.67.
Copper, gold and platinum futures all rose Wednesday as buyers began to bet that sharp sell-offs in recent weeks have run their course.
Shares of South African gold miner Harmony Gold Mining Co. (HMY, HAR.JO) were the biggest gainer, jumping 13% to $5.23. The stock, which has been battered by the recent plunge in gold prices, is still down 18% for the month.
The Latin American index rose 0.6% to 321.84 and the emerging markets index gained 0.8% to 278.32.
Shares of mining giant Vale SA (VALE, VALE5.BR) also gained as investors anticiapted the company's best bottom-line result in a year when it reports results later Wednesday. Shares rose 2.2% to $16.75.
The European index rose 0.8% to 129.51.
Italy's Eni SpA (E, ENI.MI) expects the massive Kashagan oil field in Kazakhstan to start output around the middle of the year, said Claudio Descalzi, the head of exploration and production at Italy's biggest energy company by market value, on Wednesday. Shares rose 1% to $46.57.
Elsewhere, France Telecom SA (FTE, FTE.FR) shares gained 2.7% to $10.47 after the comany reported a 9% drop in first-quarter earnings but stuck with its full-year targets. France Telecom is hoping to use a new high-speed wireless service, dubbed LTE or 4G, as a lever to raise prices again.
The Asian index rose 0.5% to 140.46.
Chinese solar stocks ended broadly higher following word that Southern Co. (SO) and Turner Enterprises Inc. have bought a 139-megawatt solar farm in the California desert from First Solar Inc. (FSLR). Shares of fellow solar-panel manufacturer and developer SunPower Corp. (SPWR) surged 10% to $12.26.
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