ADRs End Lower; Oil Majors Decline
08 December 2015 - 10:02AM
Dow Jones News
International stocks trading in New York closed lower on
Monday.
Major oil producers were among the companies with ADRs that
traded actively.
The BNY Mellon index of American depositary receipts fell 1% to
129.73. The European index decreased 0.94% to 129.13, the Asian
index dropped 0.90% to 140.38, the Latin American index fell 1.6%
to 155.75 and the emerging markets index declined 1.2% to
222.58.
Oil prices plunged to near seven-year lows Monday on
expectations that producers around the world will continue pumping
crude at near-record levels in an already oversupplied market.
Among major oil companies with ADRs whose shares declined, BP PLC
(BP, BP.LN) fell 4.3% to $31.26, Cnooc Ltd. (CEO, 0883.HK) dropped
7.3% to $106.64, China Petroleum & Chemical Corp. (SNP,
0386.HK) retreated 4.9% to $58.75, PetroChina Co. Ltd. (PTR,
0857.HK, 601857.SH, K3OD.SG) fell 4.3% to $67.90, Petroleo
Brasileiro SA (PBR, PETR3.BR, PETR4.BR) declined 4.6% to $4.57, and
Royal Dutch Shell PLC (RDSA, RDSA.LN) dropped 4.4% to $46.30.
Total SA (TOT, FP.FR) said Monday it intends to back French oil
services company CGG SA (CGG) as the exploration equipment and
services firm seeks to raise 350 million euros ($380 million) in
fresh capital to counter low crude prices. ADRs of CGG fell 7.5% to
$3.09, while Total declined 2.5% to $46.65.
Jiayuan.com International Ltd. (DATE) said Monday it agreed to
be bought by Baihe subsidiary LoveWorld Inc. for $7.56 per American
depositary share in a deal that values China's largest online
dating platform at about $250 million. Jiayuan.com's ADRs rose 4.9%
to $7.34.
Taiwan Semiconductor Manufacturing Co. (TSM, 2330.TW) plans to
build a $3 billion advanced chip plant in China, as the world's
largest chip maker by revenue bets that cost advantages outweigh
any potential competitive threat. ADRs fell seven cents to
$23.24.
WPP PLC (WPPGY, WPP.LN) Chief Executive Martin Sorrell said he
remains an "unabashed raging bull on China" despite the slowdown in
the country's economic growth. Speaking at a UBS conference in New
York, Mr. Sorrell reiterated that the advertising company aims to
derive 40% to 45% of its revenue from "fast growth markets" and new
media over the next five years. The biggest threat to growth in
these fast growth markets are currency fluctuations, he added. ADRs
rose 1.6% to $116.03.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
December 07, 2015 17:47 ET (22:47 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
Jiayuan.Com International Ltd. ADS (MM) (NASDAQ:DATE)
Historical Stock Chart
From Oct 2024 to Nov 2024
Jiayuan.Com International Ltd. ADS (MM) (NASDAQ:DATE)
Historical Stock Chart
From Nov 2023 to Nov 2024