International stocks trading in New York were mixed Wednesday.
The Bank of New York index of American depositary receipts rose
0.2% to 153.07. The European index decreased 0.08% to 148.99, the
Asian index improved 0.98% to 152.93, the Latin American index fell
1.3% to 295.47 and the emerging markets index increased 0.09% to
302.58. Among the companies with shares that actively traded was
Petroleo Brasileiro SA (PBR, PETR3.BR).
Petroleo Brasileiro SA, or Petrobras, declined in New York as
news of the death of presidential candidate Eduardo Campos filtered
through the market. The state-run oil company's stock has risen and
fallen in direct relation to electoral polls for the past several
months, as investors weigh which candidate would be most likely to
free up the company from what are seen as onerous government
policies. The death of Mr. Campos seems to have convinced investors
that incumbent Dilma Rousseff has a better chance of winning,
driving the stock down. Shares fell 4.45% to $15.46.
Telecom Italia SpA's (TI, TIT.MI) chief executive on Wednesday
proposed to Vivendi SA to merge its Brazilian unit TIM
Participacoes SA (TSU, TIMP3.BR) with the French company's GVT SA,
The Wall Street Journal reported, as the Italian firm tries to
fight back after Spain's Telefonica SA (TEF,TEF.MC) made an offer
to buy GVT earlier this month. TIM Participacoes shares fell 2.3%
to $24. Telecom Italia shares declined 1.1% to $10.85. Telefonica
shares edged up seven cents to $15.67.
Write to Tess Stynes at tess.stynes@wsj.com
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