International stocks trading in New York closed lower
Monday.
The BNY Mellon index of American depositary receipts fell 2% to
140.95. The European index decreased 2.2% to 138.82, the Asian
index dropped 1.5% to 149.76, the Latin American index fell 2.8% to
207.44 and the emerging markets index declined 2.7% to 250.61.
Financial firms were among the companies with ADRs that traded
actively.
Germany stood firm against debt relief for Greece the day after
the country's voters issued a resounding "no" to more austerity,
signaling a possible tough fight ahead on one of the few remaining
opportunities for compromise. Finding a solution to Greece's
financial troubles is urgent if Europe wants to keep its currency
union intact. Financial companies were among the biggest decliners,
with ADRs of National Bank of Greece SA (NBG, ETE.AT) skidding 12%
to 99 cents.
Among major banks, Banco Santander SA (SAN, SAN.MC) dropped 3.8%
to $6.78; Barclays PLC (BCS, BARC.LN) decreased 3.1% to $16.14;
Deutsche Bank AG (DB, DBK.XE) retreated 4.3% to $30.17; HSBC
Holdings PLC (HSBC, HSBA.LN, 0005.HK) weakened 2% to $44.26; and
Royal Bank of Scotland Group PLC (RBS, RBS.LN) fell 5.5% to
$10.75.
Among regional lenders, Banco Bilbao Vizcaya Argentaria SA
(BBVA, BBVA.MC) declined 3.7% to $9.45; Itau Unibanco Holding SA
(ITUB, ITUB3.BR, ITUB4.BR) decreased 4.1% to $10.74; and UBS Group
AG (UBS) dropped 3.9% to $21.02.
Stocks in Hong Kong tumbled, while China's stabilized, after
Beijing took unprecedented steps to stem a three-week selloff and
Greece voted to reject bailout terms. Among the biggest decliners,
Aluminum Corp. of China Ltd. (ACH, K3HD.SG, 601600.SH, 2600.HK)
skidded 10.5% to $10.88; and China Southern Airlines Co. Ltd. (ZNH,
K3TD.SG, 600029.SH, 1055.HK) slid 8.7% to $50.40.
Copper prices tumbled to a five-month low Monday, weighed down
by sliding oil prices and mounting losses on Chinese stock markets.
Among mining companies whose ADRs declined, BHP Billiton Ltd. (BHP,
BHP.AU) fell 4.1% to $39.59 and BHP Billiton PLC (BBL, BLT.LN)
dropped 3.9% to $38.33. Vale SA (VALE, VALE3.BR, VALE5.BR,
VALE5.FR) declined 4.1% to $5.61.
Oil prices on Monday skidded to their biggest single-day
declines in more than three months, as gyrations in Chinese stocks
and the prospect of more crude from the U.S. and Iran revived
worries about the global supply glut. Among decliners, BP PLC (BP,
BP.LN) decreased 3.3% to $39.91; Eni SpA (E, ENI.MI) dropped 5.2%
to $33.50; Statoil ASA (STO, STL.OS) fell 4.7% to $16.74; and Total
SA (TOT, FP.FR) retreated 2.8% to $47.24.
Write to Tess Stynes at tess.stynes@wsj.com
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