International stocks trading in New York closed lower Wednesday.
The BNY Mellon index of American depositary receipts fell 1.53% to
140.74. The European index declined 1.24% to 139.71, the Asian
index dropped 1.77% to 141.81, the Latin American index fell 3.1%
to 230.92 and the emerging markets index fell 2.31% to 261.96.
Among the companies with shares that actively traded were major oil
companies.
Oil prices took another dive Wednesday, aiming for fresh
five-year lows on a U.S. government report showing a surprise
increase in the country's crude stockpiles. Among major oil firms
whose shares fell, China Petroleum & Chemical Corp. (SNP) fell
2.2% to $77.87; PetroChina Co. Ltd. (PTR) fell 2.6% to $102.98;
Royal Dutch Shell PLC (RDSA) declined 2.5% to $63.95; Statoil ASA
(STO) dropped 2.4% to $17.05 and Total SA (TOT) retreated 2.2% to
$51.75.
U.K.-based BP PLC (BP, BP.LN) said Wednesday it expects to book
$1 billion in restructuring charges over the next year. Much of the
savings will come from long-planned head count cuts, a spokesman
said. The company's exploration-and-production chief also gave an
investor presentation that said BP "will look to pare back or
rephase spend" on development by as much as $2 billion next year.
BP shares fell 2% to $37.74.
Thirteen suspects in Brazil were indicted this week as part of
investigation into corruption at Petroleo Brasileiro SA (PBR,
PETR3.BR, PETR4.BR), or Petrobras. Twelve of the 13 suspects are
from Brazilian construction companies accused of paying bribes to
win Petrobras contracts. The other suspect is a lobbyist. So far no
Petrobras executives have been indicted. Petrobras shares fell 4.9%
to $7.75.
Write to Tess Stynes at tess.stynes@wsj.com
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