International stocks trading in New York closed lower Tuesday,
with the Bank of New York index of American depositary receipts
dropping 0.7% to 148.84. The European index fell 0.6% to 149.95,
the Asian index dropped 0.9% to 141.93, the Latin American index
shed 0.3% to 250.86 and the emerging markets index declined 0.8% to
260.21. Among the companies with shares that actively traded were
Vale SA (VALE, VALE3.BR, VALE5.BR) and Barclays PLC (BCS,
BARC.LN).
Copper and iron ore prices have stumbled due to worries about
slowing demand in China, the world's biggest buyer of the two
commodities, which has weighed on shares of miners. The U.K.'s Rio
Tinto PLC (RIO, RIO.LN) shares fell 0.8% to $51.93, while Brazil's
Vale dropped 2.1% to $12.54.
A U.S. investment-management firm has filed a lawsuit against
the five banks that set the London benchmark gold price, alleging
that the banks conspired to manipulate the price of gold for their
own gain. Documents seen by The Wall Street Journal show that AIS
Capital Management filed a class-action complaint late Monday
against Barclays, Deutsche Bank AG (DB, DBK.XE) and HSBC Holdings
PLC (HSBC, HSBA.LN), among others, in the U.S. district court for
the Southern District of New York. Barclays shares fell 3.4% to
$15.73, Deutsche Bank shares dropped 1.4% to $45.86 and HSBC shares
edged down 0.3% to $51.46.
Lloyds Banking Group PLC (LYG, LLOY.LN) on Tuesday announced
changes to its defined benefit pension schemes, and said that the
changes would have a one-off benefit of 1 billion pounds ($1.68
billion) to its income statement. Shares slipped 1.3% to $5.41.
Write to Anna Prior at anna.prior@wsj.com
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