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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Vale SA | BOV:VALE3 | Bovespa | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.27 | -0.42% | 63.65 | 63.65 | 63.66 | 64.42 | 63.35 | 64.17 | 12,323,900 | 18:29:09 |
International stocks trading in New York closed lower on Monday. The Bank of New York index of American depositary receipts fell 0.8% to 153.68. The European index increased 0.5% to 151.64, the Asian index dropped 1% to 149.42, the Latin American index fell 2% to 292.76 and the emerging markets index declined 1.7% to 298.61. Among the companies with shares that actively traded was OAO Mechel (MTL, MTLR.MZ).
Shares in Russia's OAO Mechel fell after the country's economy minister said he thought bankruptcy was "a probable scenario" for the metals and mining group as pressure mounts on the company to repay rather than restructure its heavy debt burden. The comment from Alexei Ulyukayev, reported by the Interfax news agency, came after it emerged that Mechel had opposed a proposal by its three largest lenders, VTB, Sberbank, and Gazprombank, to convert part of the company's debt into shares. Mechel fell nearly 30% to $1.02.
Continued weakness in iron-ore prices had Vale SA (VALE, VALE3.BR, VALE5.BR, VALE5.FR) shares at the lowest levels since the aftermath of the financial crisis on Monday. The Brazilian mining company's biggest market, China, doesn't appear set to notably change course as China's finance minister isn't planning to drastically change economic policy despite slowing growth that has weakened commodities prices. Vale shares fell 4.7% to $11.44. Other mining companies whose shares declined on Monday included Rio Tinto (RIO, RIO.AU, RIO.LN), whose shares dropped 2.9% to $50.17; BHP Billiton PLC (BBL, BLT.LN), whose shares declined 3.1% to $56.83 and BHP Billiton Ltd. (BHP, BHP.AU), whose shares fell 3.2% to $61.28.
Write to Tess Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year VALE ON Chart |
1 Month VALE ON Chart |
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