ADR Report: Shares Fall As Euro-Zone Fears Spark Sell-Off

International companies trading in New York closed lower Wednesday as renewed concerns about the euro-zone sovereign-debt crisis prompted investors to sell bank shares.

The Bank of New York index of ADRs ended up at 0.4% as 122.78 hampered by the financial sector.

Among the worst financial stock performers were Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC), ending up 3.5% lower at $8.55, and Banco Santander SA (STD, SAN.MC), which lost 2.7% to $7.54.

The European index declined 0.7% to 114.43.

Near-term operating capital expenditure for telecom carriers in North America is subdued, Nomura says, and this doesn't bode well for France's Alcatel-Lucent (ALU, ALU.FR) and Sweden's Ericsson (ERIC, ERIC-B.SK). Alcatel's shares dropped 5.9% to $1.60, and Ericsson closed down 4% to $9.97.

The Asian index edged fractionally lower to 117.00.

Toyota Motor Corp.'s (TM, 7203.TO) U.S. auto sales edged up 0.4% in December as car sales improved, offsetting lower light truck sales. Toyota shares climbed 1% to $68.43.

India's Tata Motors Ltd. (TTM, 500570.BY) ended 2011 with growth in vehicle sales for December, as diesel-powered vehicles remained insulated from the demand slowdown in the local auto industry. Shares increased 3.8% to $18.79.

The emerging markets index slipped 0.2% to 282.85.

Harmony Gold Mining Company Ltd. (HMY, HAR.JO) said an employee was fatally injured following a mud rush accident at its Doornkop mine near Randfontein. Shares fell 1.5% to $11.88. Fellow South African mining company Gold Fields Ltd. (GFI,GFI.JO) declined 1.6% to $15.52.

Offsetting the losses, the Latin American index rose 0.5% to 343.98.

Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASR, ASUR.MX) said that total passenger traffic for December 2011 increased by 15.3% when compared with December 2010. Shares climbed 2.7% to $58.54.

Brazilian mining giant Vale SA (VALE, VALE5.BR) is planning to raise at least $500 million with its issue of overseas bonds due in 2022, a person with knowledge of the operation told Dow Jones Newswires on Wednesday. Shares rose 0.8% to $23.39.

-By Maya Pope-Chappell, Dow Jones Newswires; 212-416-3670; Maya.pope-chappell@dowjones.com

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