By Mia Lamar
International companies trading in New York closed lower amid
broad losses for mining stocks.
The Bank of New York index of ADRs fell 0.2% to 138.29.
South African gold-mining companies fell along with the price of
gold. Drdgold Ltd.'s (DRD, DRD.JO) stock ended 3.6% lower at $6.65
and AngloGold Ashanti Ltd. (AU, ANG.JO) fell 4.1% to $18.48.
The Asian index fell 0.4% to 141.75.
LDK Solar Co. (LDK) agreed to sell another 25 million ordinary
shares to Fulai Investments Ltd. at a 20% discount to Thursday's
close. LDK, one of China's largest solar companies, has quietly
sold more than one-third of itself since October as it struggles to
raise cash to pay debt. Shares fell 1.6% to $1.26.
Chinese Internet-search company Baidu Inc. (BIDU, K3SD.SG))
reported slower profit growth in the first quarter as concerns
persisted about rising costs and how quickly the company can earn
money from increasingly popular mobile services. Shares fell 7.9%
to $85.02.
The Latin American index fell 1.5% to 317.93.
Shares of financially troubled Mexican homebuilder
Desarrolladora Homex SAB (HXM, HOMEX.MX) slid 26% to $5.18 after
the company reported a 46% drop in first-quarter revenue and said
low collections during the quarter constrained its ability to
complete homes.
The European index inched up 0.1% to 130.22.
Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC) on
Friday posted a 73% jump in first-quarter net profit, largely
driven by asset sales, but also helped by a recovery in Spanish
bank deposits that signals decreased fears of a meltdown in the
euro zone's fourth-largest economy. Shares rose 0.1% to $7.14.
Write to Mia Lamar at mia.lamar@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires