ADR Report: Shares End Lower; Energy Companies Fall

   By Mia Lamar 
 

International companies trading in New York closed slightly lower Wednesday, weighed down by a broad decline in energy shares.

The Bank of New York index of ADRs fell 0.1% to 124.13.

Shares of Spanish oil firm Repsol SA (REPYY, REP.MC) fell 3.3% to $18.12, Australia's Santos Ltd. (SSLTY, STO.AU) shed 2% to $12.25 while PetroChina Co. (PTR, K3OD.SG, 0857.HK, 601857.SH) declined 1.2% to $124.28.

The European index fell 0.2% to 116.40. The region's mining stocks were mostly lower, led by a 1.2% decline for Anglo American PLC (AAUKY, AAL.LN).

Deutsche Telekom AG's (DTEGY, DTE.XE) T-Mobile USA said it will launch an unlimited data plan next month that is cheaper than some existing offerings, the latest sign of an increasingly fractured wireless industry in the U.S.

T-Mobile hopes the plan will give it an edge compared to its larger rivals whose financial heft and scale gives them better access to hot devices and more money to build bigger and faster wireless networks. Shares rose 1.9% to $11.96.

The Asian index ended flat at 120.41.

Network operator China Telecom Corp. (CHA, 0728.HK, K3ED.SG) on Wednesday reported a drop in first-half net profit, but nonetheless beat expectations as user numbers grew in the face of intensifying competition. Shares climbed 9.1% to $56.24.

Cnooc Ltd. (CEO, 0883.HK) added to the broader energy losses, falling 1.2% to $192.17 as investors continued to digest a disappointing earnings reports issued by the company on Tuesday.

The Latin American index rose 0.2% to 326.30, making it the day's only gainer. The emerging markets index was flat at 276.32.

Shares of Cemex SAB (CX, CEMEX.MX) jumped 3.8% to $8.15 after the Mexican cement and building materials company unveiled plans to sell a minority stake in a Latin America unit. The planned listing is part of Cemex's efforts to sell assets to pay down its heavy debt load.

Elsewhere, Bernstein analysts cut Brazilian telecom TIM Participacoes SA (TSU, TIMP3.BR) to market perform from outperform, noting the company is the "likely loser in the a more politicized wireless market."

TIM was one of the three mobile phone companies in Brazil that regulators this summer briefly banned from selling new lines, citing complaints about their customer service and calling quality.

"With a far weaker Latin American presence than its competitors in Brazil, we think TI is likely to be the loser in a game of local political lobbying," Bernstein analysts wrote in a note to clients.

Shares slumped 5.3% to $19.51 in New York.

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