This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Emerging Market ADRs: Winners and Losers

NEW YORK ( TheStreet) -- Here are last week's winners and losers among emerging market American depositary receipts.

China

China's top ADRs were Fuqi International (FUQI), and China Direct Industries (CDII), strengthening 47.3% and 26.8%, respectively.

Fuqi International, a designer of precious metal jewelry in China, opened its newly expanded showroom in Shenzhen, amid a probe from the Securities and Exchange Commission launched earlier this month. The company is trying to signal to investors that its wholesale and retail businesses continue to operate successfully.

China Direct Industries, a manager and consultant of Chinese businesses, announced its subsidiary CDI Beijing International Trading has received a contract from Beijing Tianrun Construction for a range of steel bars. The contract is likely to generate $70 million over 12 months.

CDC Corp. (CHIND) and Duoyuan Global Water (DGW), were the major losers shedding 66.7% and 40.4%, respectively. Nonetheless, CDC recently signed a memorandum of understanding with the government of Foshan, the third-largest city in China with the highest rate of growth domestic product in the country, for a 600 million yuan private-equity fund.

India

Among Indian ADRs, Rediff.com (REDF) emerged the top gainer, up 15.2%. Recently, Microsoft (MSFT - Get Report) in India partnered with Rediff and other popular Web sites to promote its newly launched Internet Explorer 9. HDFC Bank (HDB - Get Report), up 7.6%, was the second-highest grosser as India's Nifty index rose to record highs past week, with finance companies heading the sector list.

Mahanagar Telephone (MTE) was the top loser posting a 4.5% decline, followed by Tata Communications (TCL), down 1.8%. Meanwhile, iGateE (IGTE - Get Report) dipped 1.7% after investors booked profits. The stock rallied for almost two weeks touching a 52-week high last Monday.

Brazil

Among the Brazilian ADRs, Ultrapar Participacoes (UGP - Get Report) was the major gainer advancing 4.8%, followed by Banco Itau Holding Financeira (ITUB) at 4.6%. Last week, Banco Itau raised a total of $1 billion from an overseas bond issue with maturity date of January 2021 and coupon rate of 5.75%. The proceeds would be directed towards general purposes in order to generate new businesses. Gafisa (GFA - Get Report) also clocked gains at 4.5%.

Major losers for the week included Petrobras Energia Participaciones (PZE - Get Report) and Gerdau (GGB - Get Report), declining 3.8% and 1.7%, respectively. Meanwhile, Gerdau, the world's second-largest maker of long steel, is seeking to buy Tamco, a small steelmaker in California, for almost $165 million. The company is also likely to sell global bonds in order to repay its outstanding debt. Fitch assigned a BBB- rating to the offering which is to be routed through the company's subsidiary Gerdau Trade.

Karvy Global Services (www.karvyglobal.com), a subsidiary of the Karvy group (www.karvy.com), provides specialized research in asset classes including stocks, mutual funds and insurance to leading Wall Street firms.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
MTE $0.90 0.00%
CDII $0.01 0.00%
HDB $58.77 0.00%
GFA $1.52 0.00%
GGB $2.87 0.00%

Markets

DOW 18,041.54 -190.48 -1.04%
S&P 500 2,104.20 -21.86 -1.03%
NASDAQ 5,032.7510 -56.6110 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs