ADR Shares End Lower After Fed Minutes

   By Anna Prior 
 

International companies trading in New York closed lower Wednesday amid the release of meeting minutes for the Federal Reserve.

The Bank of New York index of American depositary receipts fell 0.6% to 148.02.

Meeting minutes indicated that Fed officials in October stuck to the view that the central bank might begin winding down bond purchases in the "coming months."

Meanwhile, there was a report that the European Central Bank is considering a cut to its deposit rate into negative territory.

The European index dropped 0.5% to 143.27.

Financial stocks again added to declines, with ING Groep NV (ING, INGA.AE) falling 1.1% to $12.72, Deutsche Bank AG (DB, DBK.XE) falling 1.1% to $45.17 and Banco Santander SA (SAN, SAN.MC) down 1.7% to $8.49.

The Asian index declined 0.6% to 149.60.

Indian lenders declined after generally outperforming the broader market in recent sessions. HDFC Bank Ltd. (HDB, 500180.BY) fell 1.2% to $32.58, while rival ICICI Bank Ltd. (IBN, 532174.BY) dropped 1% to $34.29.

China Xiniya Fashion Ltd. (XNY), a provider of men's business casual apparel in China, reported third-quarter per-share earnings in-line with the company's guidance. The company also guided for fourth quarter per-share earnings of five cents to nine cents. Shares jumped 15% to $1.50.

The Latin American index fell 0.9% to 293.40 and the emerging-market index dropped 0.8% to 279.82.

South African gold miners added to the decline, with AngloGold Ashanti Ltd. (AU, ANG.JO) down 4.2% to $14.10, Gold Fields Ltd. (GFI, GFI.JO) off 3.1% at $4.38, Drdgold Ltd. (DRD, DRD.JO) falling 1.5% to $4.55 and Harmony Gold Mining Co. (HMY, HAR.JO) down 1.3% to $3.02.

Write to Anna Prior at [e-mail]