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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 [email protected] Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Bp (BP)
DateTimeHeadline
01/18/201717:36:00ADRs End Lower; Pearson Plummets
01/17/201717:47:00ADRs End Lower; Infosys Falls
01/17/201714:01:00Correction to BP CEO Story on Recent Deals
01/17/201707:25:00BP CEO: Recent Deals Reflect Disciplined Investment Strategy
01/17/201707:00:00Rex Energy Announces Two-Year Financial and Operational Plan...
01/09/201700:29:00Politico Veteran's News Venture Axios Aims to Fix Advertising
01/04/201709:57:00Nigeria Awards 39 Crude-Oil Term Contracts for 2017
12/29/201605:17:00BP Enters 20-Year LNG Supply Pact With Thailand's PTT
12/28/201603:02:00Business Watch -- WSJ
12/27/201616:58:00BP Agrees to Buy Woolworths Fuels Business for $1.29 Billion
12/22/201618:28:00ADRs End Lower
12/21/201617:22:00BP Repairing Unit at Whiting, Ind., Refinery -- Source
12/20/201603:02:00BP Ramps Up Deal Making -- WSJ
12/19/201612:25:00BP Eyes Growth with String of Oil, Gas Deals
12/17/201607:53:00Correction to BP Strikes UAE Oil Fields Deal story
12/17/201607:25:00BP Strikes $1.8 Billion Deal for 10% Stake in UAE Oil Fields
12/13/201611:20:00BP Internal Report Reveals Near-Miss Accidents
12/13/201611:11:00BP Internal Report Reveals Near-Miss Accidents
12/12/201607:40:00Eni to Sell Egyptian Gas-Field Stake to Rosneft
12/08/201603:02:00Russia Sells a Stake in Oil Giant -- WSJ

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