By Nathalie Tadena
International companies trading in New York ended near flat as
investors remain cautious ahead of a possible move next week by the
U.S. Federal Reserve to reduce its monetary stimulus program.
The Bank of New York index of American depository shares edged
up a fraction to 142.81.
The Federal Open Market Committee, the Fed's policy-setting
panel, is scheduled to meet on Tuesday and Wednesday. Sixty-six
percent of economists surveyed in a Wall Street Journal poll this
week expect the Fed will cut back on its $85 billion-a-month bond
purchases next week.
The Asian index was up a fraction to 145.20.
Suntech Power Holdings Co. (STP, K3ND.SG) said David King has
resigned as chief executive and acting chief financial officer,
effective immediately, and Zhou Weiping will take over both roles
on an interim basis. Suntech's board will first seek a new finance
chief before it turns to finding a new CEO, the company said.
Shares of the Chinese solar-panel maker climbed 9.2% to $1.30.
Among decliners, Pactera Technology International Ltd. (PACT)
said Friday that a consortium led by U.S. private-equity firm
Blackstone Group LP (BX) has made a definitive bid to take the
company private, lowering its offer by 50 cents to $7 an American
depositary share. The consortium in May made a nonbinding offer to
take the company private for $7.50 an ADS. Pactera's shares fell
4.6% to $6.47.
Australia's Prana Biotechnology Ltd. (PRAN, PBT.AU) said the
results of a recently completed Phase 2 trial of its proprietary
drug PBT2 on early-to-mid stage Huntington's disease patients,
which were expected to be reported in the last quarter of 2013,
won't be reported until early 2014. The company said the timing
delay is due to a delay in finalizing the database to achieve
"database lock," which is required before statistical analysis of
the data may begin. Shares were down 8.9% to $4.50.
The European index also increased a fraction to 137.64.
Vodafone Group PLC (VOD, VOD.LN) has snatched control of German
Internet and cable company Kabel Deutschland AG (KD8.XE) despite
suggestions some shareholders would hold out for a higher price,
with the U.K. telecom company saying late Thursday that more than
75% of Kabel's shareholders had agreed to take its offer. Vodafone
shares edged up 0.6% to $33.59.
European miners finished lower amid weaker metals prices. Shares
of Anglo American PLC (AAUKY, AAL.LN) dropped 2.1% to $12.47 and
heavyweight Rio Tinto PLC (RIO, RIO.LN, RIO.AU) slipped 0.5% to
$49.99.
The emerging markets index rose 1.4 points to 271.88 and the
Latin American index rose 2 points to 287.13.
Brazil's GOL Linhas Aereas Inteligentes S.A. (GOL, GOLL4.BR)
reported its passenger revenue per available seat kilometer, a key
airline industry measure of performance, jumped 24% in August, the
17th consecutive monthly PRASK increase. Shares jumped 7.5% to
$5.05.
Write to Nathalie Tadena at nathalie.tadena@wsj.com
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