ADRs End Lower; Financial Firms Decline

International stocks trading in New York closed lower Monday.

The BNY Mellon index of American depositary receipts fell 2% to 140.95. The European index decreased 2.2% to 138.82, the Asian index dropped 1.5% to 149.76, the Latin American index fell 2.8% to 207.44 and the emerging markets index declined 2.7% to 250.61. Financial firms were among the companies with ADRs that traded actively.

Germany stood firm against debt relief for Greece the day after the country's voters issued a resounding "no" to more austerity, signaling a possible tough fight ahead on one of the few remaining opportunities for compromise. Finding a solution to Greece's financial troubles is urgent if Europe wants to keep its currency union intact. Financial companies were among the biggest decliners, with ADRs of National Bank of Greece SA (NBG, ETE.AT) skidding 12% to 99 cents.

Among major banks, Banco Santander SA (SAN, SAN.MC) dropped 3.8% to $6.78; Barclays PLC (BCS, BARC.LN) decreased 3.1% to $16.14; Deutsche Bank AG (DB, DBK.XE) retreated 4.3% to $30.17; HSBC Holdings PLC (HSBC, HSBA.LN, 0005.HK) weakened 2% to $44.26; and Royal Bank of Scotland Group PLC (RBS, RBS.LN) fell 5.5% to $10.75.

Among regional lenders, Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC) declined 3.7% to $9.45; Itau Unibanco Holding SA (ITUB, ITUB3.BR, ITUB4.BR) decreased 4.1% to $10.74; and UBS Group AG (UBS) dropped 3.9% to $21.02.

Stocks in Hong Kong tumbled, while China's stabilized, after Beijing took unprecedented steps to stem a three-week selloff and Greece voted to reject bailout terms. Among the biggest decliners, Aluminum Corp. of China Ltd. (ACH, K3HD.SG, 601600.SH, 2600.HK) skidded 10.5% to $10.88; and China Southern Airlines Co. Ltd. (ZNH, K3TD.SG, 600029.SH, 1055.HK) slid 8.7% to $50.40.

Copper prices tumbled to a five-month low Monday, weighed down by sliding oil prices and mounting losses on Chinese stock markets. Among mining companies whose ADRs declined, BHP Billiton Ltd. (BHP, BHP.AU) fell 4.1% to $39.59 and BHP Billiton PLC (BBL, BLT.LN) dropped 3.9% to $38.33. Vale SA (VALE, VALE3.BR, VALE5.BR, VALE5.FR) declined 4.1% to $5.61.

Oil prices on Monday skidded to their biggest single-day declines in more than three months, as gyrations in Chinese stocks and the prospect of more crude from the U.S. and Iran revived worries about the global supply glut. Among decliners, BP PLC (BP, BP.LN) decreased 3.3% to $39.91; Eni SpA (E, ENI.MI) dropped 5.2% to $33.50; Statoil ASA (STO, STL.OS) fell 4.7% to $16.74; and Total SA (TOT, FP.FR) retreated 2.8% to $47.24.

Write to Tess Stynes at [e-mail]

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