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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
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07/30/201405:10:05Total to Review Russia Sanctions
07/30/201404:27:17Total Avoids Investor Ire Over Russia Business, So Far -- Market...
07/29/201412:50:15European Shares Reverse Losses -- 3rd Update
07/29/201412:11:08EUROPE MARKETS: European Stocks Shrug Off Russia Sanctions Amid...
07/29/201412:10:12EUROPE MARKETS: BP Among Losers In Europe On Russia Sanctions...
07/29/201412:05:30LONDON MARKETS: FTSE 100 Breaks Two-day Losing Streak; BP Drops
07/29/201406:46:50LONDON MARKETS: FTSE 100 Breaking Two-day Losing Streak; BP Slips
07/29/201404:53:03EUROPE MARKETS: GKN, Renault Among European Stocks On The Move
07/29/201404:40:04BP Reports Rise in Second-Quarter Profit
07/29/201403:47:30LONDON MARKETS: FTSE 100 Breaks Two-day Losing Streak; BP Climbs
07/25/201408:40:33Rosneft Working on Sanctions Strategy
07/24/201410:18:56Investors Look for Signs from BP's New Downstream Chief -- Market...
07/23/201408:30:10BP Executive in Advanced Talks to Head U.K's Centrica
07/23/201408:11:25BP plc 2Q 2014 -- Forecast
07/23/201407:54:37Top BP Executive in Advanced Talks to Head U.K's Centrica, Says...
07/22/201413:12:47EUROPE MARKETS: FTSE Hits 2-week High As Oil Shares Rise Across...

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