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ADR REPORT: Shares Close Mixed Despite Strong Earnings Reports

Tue, 27th Jul 2010 21:57

By Emily Glazer Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York closed little changed Tuesday as a weak consumer-confidence reading offset a strong round of corporate earnings. The Bank of New York index of ADRs closed up 0.4% to 126.32. The financial sector climbed after banks reported solid earnings. Shares of Swiss financial-services company UBS AG (UBS, UBSN.VX) gained 8.9% to $16.50, Royal Bank of Scotland Group PLC (RBS, RBS.LN) jumped 8.3% to $15.78, U.K. bank Lloyds Banking Group PLC (LYG, LLOY.LN) climbed 8.5% to $4.45, German global investment bank Deutsche Bank AG (DB, DBK.XE) rose 2.8% to $68.06 and U.K. bank Barclays PLC (BCS, BARC.LN) moved up 6.9% to $21.16. The European index increased 0.7% to 116.37. German car maker Daimler AG (DAI, DAI.XE) raised its target for full-year earnings before interest and tax to EUR6 billion (USD7.79 billion) in 2010, fueled by a speedy recovery in the luxury-car market and favorable foreign-exchange rates. Shares of Daimler AG decreased 3.8% to $53.97. German business-software maker SAP AG (SAP, SAP.XE) raised its 2010 sales outlook as a result of the acquisition of U.S. software vendor Sybase Inc. (SY) and posted a 15% rise in second-quarter net profit driven by higher software sales in the Americas, but other markets performed less well. Shares of SAP fell 2.7% to $47.32. U.K.-based engineering and manufacturing company Tomkins PLC (TKS, TOMK.LN) announced it agreed to be acquired by an investment vehicle established by Canadian private-equity firm Onex Corp. and the Canada Pension Plan Investment Board for about GBP2.89 billion (USD4.5 billion), but at least one shareholder opposed the deal. Shares of Tomkins grew 5.9% to $20.11. The Latin American index dropped 0.5% to 368.84. Mexican cement and building materials company Cemex SAB (CX, CEMEX.MX) has lowered its estimate for 2010 earnings before interest, taxes, depreciation and amortization, or Ebitda, to $2.65 billion from $2.75 billion, said Fernando Gonzalez, executive vice president of planning and finance. Shares of Cemex dropped 2.8% to $9.67. The Asian index slipped 0.02% to 121.98. Japanese electronics company Canon Inc. (CAJ, 7751.TO) said its net profit for the April-June period jumped four-fold from a year earlier because of brisk demand for digital cameras and printers, but the bellwether exporter kept its full-year outlook unchanged due to the impact of the stronger yen. Shares of Canon climbed 1.9% to $41.35. Japanese car maker Toyota Motor Corp. (TM, 7203.TO) reported higher domestic production for the eighth straight month in June, and a company executive said the car maker aims to establish leaner production methods in Japan to counter the effects of a stronger yen and a likely drop in demand. Shares of Toyota fell 1.4% to $69.90. The emerging-markets index fell 0.4% to 302.77. Net profits at Brazil's Vale SA (VALE, VALE5.BR) could soar more than fourfold in second-quarter 2010, with the world's biggest iron ore mining company benefiting from price increases of more than 100% as steelmakers worldwide emerge from crisis. Shares of Vale SA dropped 0.5% to $27.44. -By Emily Glazer, Dow Jones Newswires; 212-416-2913; emily.glazer@dowjones.com (END) Dow Jones Newswires July 27, 2010 16:57 ET (20:57 GMT)

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