By Mia Lamar
International companies traded in New York closed lower
Wednesday after minutes from the Federal Reserve's latest
policy-setting meeting showed increased unease about its recent
stimulus efforts.
The Bank of New York index of ADRs fell 1.5% to 136.14.
Mining company shares were roundly weaker. Russia's Mechel OAO
(MTL, MTLR.RS) slumped 5.1% to $5.92 and Anglo-Australian mining
giant Rio Tinto PLC (RIO, RIO.AU, RIO.LN) declined 3.8% to
$55.26.
The European index fell 1.5% to 128.07.
France Telecom SA (FTE, FTE.FR) said Wednesday that it expects a
difficult 2013, after a year in which a cutthroat price war in
France and economic decline elsewhere in Europe ate sharply into
profit. Shares fell 4% to $10.08.
The Asian index fell 1.1% to 136.61.
Anglo-Australian mining company BHP Billiton Ltd. (BHP, BHP.LN,
BHP.AU) said late Tuesday said Marius Kloppers is stepping down as
chief executive, in the latest leadership change among the world's
mining giants as they grapple with falling profits. Shares tumbled
4.2% to $77.06.
The Latin American index slumped 2.1% to 329.34 and the
emerging-markets index shed 1.6% to 288.08.
South African gold-mining companies fell along with the price of
gold. Drdgold Ltd.'s (DRD, DRD.JO) stock ended down 5.2% at $7.82
and AngloGold Ashanti Ltd. (AU, ANG.JO) shed 7.2% to $24.81.
Gold futures slumped to a seven-month low Wednesday.
Accommodative monetary policies have helped propel gold to record
highs as investors seek a hedge against the inflation that may
follow the increased liquidity in the financial system.
Write to Mia Lamar at mia.lamar@dowjones.com