International stocks trading in New York closed lower on Monday.
The BNY Mellon index of American depositary receipts fell 0.52% to
146. The European index edged down 0.03% to 144.53, the Asian index
dropped 0.87% to 145.76, the Latin American index fell 3.49% to
252.43 and the emerging markets index declined 2.67% to 277.65.
Among the companies with shares that actively traded were Petroleo
Brasileiro SA (PBR, PETR3.BR, PETR4.BR) and Vale SA (VALE,
VALE3.BR, VALE5.BR, VALE5.FR).
Brazilian stocks on Monday suffered their biggest single-day
drop since late September as investors fretted about the hurdles
local policymakers will face in setting public finances straight
amid a stagnant economy. Among decliners, state-controlled energy
firm shares of Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR), or
Petrobras, fell 6.2% to $9.12; miner Vale SA (VALE, VALE3.BR,
VALE5.BR, VALE5.FR) shares declined 3.1% to $8.73; Banco Bradesco
SA (BBD, BBDO, BBDC4.BR) shares dropped 3.3% to $14.48; and
Centrais Eletricas Brasileiras SA (EBR, ELET6.BR) decreased 7.1% to
$2.22.
Cemex SAB (CX, CEMEX.MX) plans to revive a stalled expansion at
its Tepeaca plant in central Puebla state in Mexico, and will spend
an additional $200 million on top of the $450 million the cement
giant had already invested in the facility ahead of the 2008
crisis. Cemex said it was encouraged by the positive outlook for
the industry in Mexico. The expansion will increase Tepeaca annual
cement capacity by 4.4 million tons to 7.6 million by 2017. Cemex
shares fell 3.1% to $12.12.
Write to Tess Stynes at tess.stynes@wsj.com
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