ADR Report: Shares Fall As Euro-Zone Fears Spark Sell-Off
January 04 2012 - 5:32PM
Dow Jones News
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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