ADR Shares End Lower; Petrobras, Itau Unibanco Trade Actively

International stocks trading in New York closed lower Monday. The BNY Mellon index of American depositary receipts fell 1.1% to 150.45. The European index decreased 0.69% to 148.87, the Asian index dropped 1.2% to 146.60, the Latin American index fell 4.31% to 278.46 and the emerging markets index declined 2.6% to 289.13. Among the companies with shares that actively traded were Petroleo Brasileiro SA (PBR,PETR3.BR,PETR4.BR) and Itau Unibanco Holding SA (ITUB,ITUB3.BR,ITUB4.BR).

Brazilian shares declined as markets responded to an electoral poll that showed Brazil's President Dilma Rousseff leading her main contender, Marina Silva, in October's presidential election. Investors are pinning their hopes on the president's ouster, believing Ms. Silva will usher in reforms aimed at spurring growth. Shares of state-run energy company Petroleo Brasileiro, or Petrobras, fell 11% to $14.70. Other decliners included Itau Unibanco, which fell 8.4% to $14.24; GOL Linhas Aereas Inteligentes SA (GOL, GOLL4.BR) which declined 8.3% to $4.88; and Banco Bradesco SA (BBDO, BBDC4.BR), which decreased 2.4% to $14.65.

As pro-democracy rallies spread across Hong Kong on Monday, the government offered minor concessions and police defended the use of tear gas against the protesters over the weekend. The protests are driven by Beijing's decision to impose limits on how Hong Kong elects its leader. Businesses activated backup plans to deal with the disruption from thousands of protesters who have gathered in key business and shopping districts.

Banks whose operations were affected by the protests included HSBC Holdings PLC (HSBC, 0005.HK, HSBA.LN), whose shares fell 2.85% to $51.56. Shares of casino companies with operations in Macau were lower, including Melco Crown Entertainment (MPEL, 6883.HK), which decreased 2.9% to $25.73.

Other declining stocks included Hong Kong Television Network Ltd. (HKTV, 1137.HK), which decreased 3.7% to $6.06; China Unicom (Hong Kong) Ltd. (CHU, 0762.HK, K3ID.SG), which dropped 2.8% to $15.19; China Mobile Ltd. (CHL, 0941.HK, K3PD.SG), down 1.6% to $59.33; and Cnooc Ltd. (CEO, 0883.HK) which decreased 2.7% to $174.15.

Write to Tess Stynes at [e-mail]

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