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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
04/17/201513:59:45LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/17/201509:56:59LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/17/201509:22:42LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/16/201516:00:27Early Voting Strongly Favors Pay Raise for BP CEO
04/16/201515:51:39Early Shareholder Voting Strongly Favors Pay Raise for BP CEO...
04/16/201512:33:13LONDON MARKETS: FTSE 100 Drops As Pearson, Diageo Shares Throttled
04/15/201513:10:09BP CEO to Face Questions at Shareholder Meeting
04/15/201513:06:03BP CEO to Face Questions at Shareholder Meeting
04/15/201511:19:11Amec Foster Wheeler Gets GBP50 Million, 5-Year BP Maintenance...
04/15/201511:14:01Norway Oil Fund Announces BP, Shell Vote
04/15/201505:03:09LONDON MARKETS: FTSE 100 Moves Higher As Miners Gain; U.K. Inflation...
04/14/201514:09:01LONDON MARKETS: FTSE 100 Wavers As Downgrades Hit BP, Primark...
04/14/201508:22:26BP seeks LNG buyers to finance $12B Tangguh Train 3 project in...
04/13/201516:00:18New Offshore Drilling Rules Proposed
04/13/201515:52:32Obama Administration Proposes New Offshore Drilling Rules...
04/13/201515:47:01Obama Administration Proposes New Offshore Drilling Rules
04/13/201511:26:31Energy Looks Compelling... Even With Low Expectations
04/11/201512:25:32New U.S. Offshore Oil and Gas Drilling Rules Seen Imminent
04/11/201509:00:037 Oil Stocks With the Largest Reserves
04/10/201512:16:43Exxon Mobil Vs. BP

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