By Anna Prior
International companies trading in New York closed higher
Tuesday, bouncing-back some after a steep slide Monday.
The Bank of New York index of ADRs climbed 1.4% to 136.24.
A rebound in precious metals prices helped calm investor jitters
after Monday's plunge in gold and other commodity prices amid weak
economic data out of the U.S. and China.
Additionally, the U.S. Commerce Department reported that
construction of new homes jumped by more than economists had
expected to the highest level since the financial crisis.
The European index rose 1.3% to 128.22.
Financial stocks contributed to gains as investment-bank
heavyweight Goldman Sachs Group Inc. (GS) beat profit and revenue
forecasts for the first quarter, though there were signs of
weakness in trading revenue. Shares of Amsterdam-based ING Groep NV
(ING, INGA.AE) rose 5.3% to $7.93, while Switzerland's UBS AG (UBS,
UBSN.VX) climbed 4.5% to $16.32, Frankfurt-based Deutsche Bank AG
(DB, DBK.XE) rose 2.9% to $41.21, the U.K.'s Royal Bank of Scotland
Group PLC (RBS, RBS.LN) added 4.5% to $8.78.
Shares of ARM Holdings PLC (ARMH, ARM.LN) slipped, however, as
Societe Generale said that first-quarter prospects for the company
have been limited after Apple Inc. (AAPL) and Samsung Electronics
Co. (SSNHY, 005930.SE) showed slowing growth trends in the
fourth-quarter of 2012. Further slowing in the first-quarter could
limit ARM Holdings' second-quarter guidance, said Societe Generale.
Shares fell 1% to $40.
The Asian index increased 1.6% to 138.91.
UBS said it remains positive on the Indian banking sector,
adding that ICICI Bank Ltd. (IBN, 532174.BY) is one of its "most
preferred picks." Shares of the company rose 5.7% to $43.24.
Chinese solar company LDK Solar Co. (LDK) said Tuesday that it
missed a $23.8 million bond payment due to a "temporary cash-flow
shortage." LDK said a settlement had been reached with two
bondholers to delay $16.6 million in payments but was still in
discussions about the rest. Shares fell 3.6% to $1.08.
The Latin American index rose 1.5% to 319.03 and the emerging
markets index jumped 1.8% to 273.92.
After selling off Monday, shares of South African gold miners
rebounded slightly, along with gold prices. Shares of Drdgold Ltd.
(DRD, DRD.JO) rose 4.4% to $6.61, while Gold Fields Ltd. (GFI,
GFI.JO) climbed 1.9% to $6.38, AngloGold Ashanti Ltd. (AU, ANG.JO)
rose 1% to $18.49 and Harmony Gold Mining Co. (HMY, HAR.JO) edged
up a penny to $5.
Write to Anna Prior at anna.prior@dowjones.com