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ADR Shares End Lower Despite Early Boost From Iran Nuclear Pact

By Tess Stynes International companies trading in New York closed lower on Monday despite an early boost from an unexpected deal over the weekend to curb Iran's nuclear program in exchange for a loosening of economic sanctions. The Bank of New York index of ADRs fell 0.52% to 148.53. Gold futures also declined as the surprise accord defused some of the long-running tensions in the Middle East, reducing investor interest in haven assets such as precious metals. Decliners included mining companies such as Peru-based Compania de Minas Buenaventura SA (BVN), which dropped 2.2% to $11.78; and South Africa-based Harmony Gold Mining Co. Ltd. (HMY, HAR.JO), down 2.4% at $2.90 and AngloGold Ashanti Ltd. (AU, ANG.JO), off 2.3% at $13.36. The European index fell 0.35% to 144.52. Some oil majors shares were lower as crude prices weakened on expectations that Iran's oil exports may increase. Decliners included BP PLC (BP, BP.LN) , down 1.2% at $47.47 and Statoil ASA (STO), off 1.4% at $22.68. Fresenius Medical Care AG (FMS, FME.XE) was a bright spot, trading higher after the U.S. Centers for Medicare and Medicaid Services said it will reduce payments to kidney dialysis providers by less than 1% over the next two years in a reversal of the much-larger cuts it had proposed earlier this summer. The move handed at least a temporary victory to dialysis providers such as Fresenius. Shares rose 7.2% to $34.54. The emerging markets index shed 1.02% to 277.20 and the Latin American index declined 1.49%, to 291.02. Shares of some Brazilian lenders declined as the nation's Supreme Court prepared to decide on a series of complaints by depositors who say they lost money when the country changed its currency on multiple occasions between 1986 and 1995 to fight inflation. If the court rules against the banks, it could cost them billions of reais. Decliners included Itau Unibanco Holding SA (ITUB, ITUB3.BR, ITUB4.BR), which dropped 2.9% to $13.83, and Banco Bradesco SA (BBD, BBDO, BBDC4.BR), which declined 2.3% to $13.09. The Asian index was down 0.61% to 148.77. Still, Giant Interactive Group (GA) was a bright spot, after the Chinese online-game company said investors, including Chairman Yuzhu Shi and Baring Private Equity Asia, made a preliminary nonbinding proposal to acquire the stake in the company that they don't already own in a take-private deal that values it at roughly $2.86 billion. The investors, which have a combined stake of roughly 47.2%, made a preliminary offer of $11.75 a share. Shares were up 13% at $11.41. Write to Tess Stynes at tess.stynes@wsj.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Bp (BP)
DateTimeHeadline
08/31/201507:00:00U.K. Approves Giant North Sea Gas Project
08/24/201517:37:00ADRs End Lower; Chinese, Commodities Firms Decline
08/24/201514:19:00Mining, Oil Stocks Feel Market Heat
08/17/201513:59:00BP Says Key Unit at Indiana Refinery Remains Shut
08/13/201518:48:19BP Manipulated Texas Natural Gas Market in 2008, Judge Says...
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08/13/201517:20:08BP Manipulated Texas Natural Gas Market, Judge Says
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08/13/201517:00:03U.S. Oil Prices Fall to Six-Year Low
08/12/201516:05:13Oil Prices Bounce, Gasoline Soars on Strong Signs for Demand
08/12/201515:45:17BP: Indiana Refinery's Output Reduced by Shutdown of Damaged...
08/11/201518:35:17BP's Crude Unit Remains Shut at Indiana Refinery -- Sources
08/06/201504:50:03European Stocks Pressured by Weak Energy Sector
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08/04/201509:30:00Major Integrated Oil and Gas Stocks Technical Data -- BP PLC...
07/30/201504:41:53Cape Wins GBP9.8 Million Contract From BP
07/30/201504:10:11Centrica to Shrink Oil Business, Slash Jobs
07/30/201503:16:18Subsea 7 Gets $500 Million Contract Offshore Egypt
07/29/201506:06:33Correction to BP Swings to Loss in 2Q on Deepwater Deal, Low...

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