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.
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