International stocks trading in New York closed lower Monday.
The BNY Mellon index of American depositary receipts fell 1.1% to
150.45. The European index decreased 0.69% to 148.87, the Asian
index dropped 1.2% to 146.60, the Latin American index fell 4.31%
to 278.46 and the emerging markets index declined 2.6% to 289.13.
Among the companies with shares that actively traded were Petroleo
Brasileiro SA (PBR,PETR3.BR,PETR4.BR) and Itau Unibanco Holding SA
(ITUB,ITUB3.BR,ITUB4.BR).
Brazilian shares declined as markets responded to an electoral
poll that showed Brazil's President Dilma Rousseff leading her main
contender, Marina Silva, in October's presidential election.
Investors are pinning their hopes on the president's ouster,
believing Ms. Silva will usher in reforms aimed at spurring growth.
Shares of state-run energy company Petroleo Brasileiro, or
Petrobras, fell 11% to $14.70. Other decliners included Itau
Unibanco, which fell 8.4% to $14.24; GOL Linhas Aereas Inteligentes
SA (GOL, GOLL4.BR) which declined 8.3% to $4.88; and Banco Bradesco
SA (BBDO, BBDC4.BR), which decreased 2.4% to $14.65.
As pro-democracy rallies spread across Hong Kong on Monday, the
government offered minor concessions and police defended the use of
tear gas against the protesters over the weekend. The protests are
driven by Beijing's decision to impose limits on how Hong Kong
elects its leader. Businesses activated backup plans to deal with
the disruption from thousands of protesters who have gathered in
key business and shopping districts.
Banks whose operations were affected by the protests included
HSBC Holdings PLC (HSBC, 0005.HK, HSBA.LN), whose shares fell 2.85%
to $51.56. Shares of casino companies with operations in Macau were
lower, including Melco Crown Entertainment (MPEL, 6883.HK), which
decreased 2.9% to $25.73.
Other declining stocks included Hong Kong Television Network
Ltd. (HKTV, 1137.HK), which decreased 3.7% to $6.06; China Unicom
(Hong Kong) Ltd. (CHU, 0762.HK, K3ID.SG), which dropped 2.8% to
$15.19; China Mobile Ltd. (CHL, 0941.HK, K3PD.SG), down 1.6% to
$59.33; and Cnooc Ltd. (CEO, 0883.HK) which decreased 2.7% to
$174.15.
Write to Tess Stynes at tess.stynes@wsj.com
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