ReneSola Ltd. (SOL:US), a Chinese maker of solar products, gained the most in more than a week after raising its forecast for 2012 shipments.
ReneSola’s American depositary receipts increased 4.4 percent to $1.42 at the close in New York, the biggest gain since July 3. The Jiashan, China-based company has decreased 68 percent over the past year. Each ADR is worth two ordinary shares.
Shipments of solar panels and wafers will be in the range of 2,200 megawatts to 2,400 megawatts, up from a March forecast of 1,800 megawatts to 2,000 megawatts, the company said today in a statement.
To contact the reporter on this story: Christopher Martin in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Reed Landberg at email@example.com