By Mia Lamar
International companies trading in New York closed higher
Thursday, helped by a string of well-receive corporate earnings
reports.
The Bank of New York index of ADRs rose 0.4% to 126.58.
Anglo-Dutch corporate products giant Unilever PLC (UL, ULVR.LN) was
among those who reported Thursday, revealing a better-than-expected
5.9% rise in third-quarter sales.
Robust growth of personal and home care products such as
deodorant and household cleaners bolstered Unilever PLC (UL)
against falling food sales in developed economies, which have
chastened European rivals. Shares ended 2.6% higher at $37.03.
The European index rose 0.3% to 120.02.
Elsewhere in the region, French drug maker Sanofi SA (SNY,
SAN.FR) saw its third-quarter profit decline as it experienced the
full brunt of competition to some of its best-selling drugs.
Shares, however, gained 2.8% to $44.01 after the company said it
now expects a 12% decrease in earnings this year, better than the
15% decrease previously forecast.
Fellow drug maker AstraZeneca PLC (AZN, AZN.LN) said its third
profit fell by more than 50% due to a sharp decline in revenue
driven primarily by the loss of patent protection on its
antischizophrenia drug Seroquel IR.
Shares rose 1.3% to $46.70, however, after the company indicated
it will likely make some acquisitions to revive its drug
pipeline.
The Asian index added 0.6% to 121.10.
Japan's automakers traded higher after auto-industry research
Edmunds.com predicted new U.S. auto sales will rise 11% in October
from a year earlier.
Edmunds said it expects Toyota Motor Corp. (TM, 7203.TO) and
Honda Motor Co. (HMC, 7267.TO) to record sales increases of 25% and
18%, respectively. U.S.-listed Toyota shares rose 1.4% to $78.45
while Honda shares added 2% to $32.43.
The Latin American index rose 0.9% to 324.31 and the emerging
markets index gained 0.7% to 280.75.
Brazilian mining heavyweight Vale SA (VALE, VALE5.BR) is still
in the process of selling its oil and natural gas exploration
assets, Chief Financial Officer Luciano Siani said Thursday.
"We've already received proposals and are evaluating those
proposals," Mr. Siani said during a conference call with
reporters.
Shares rose 5.2% to $18.34.
Write to Mia Lamar at mia.lamar@dowjones.com