Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Chinese, Brazilian names lead decline in ADR market

Published 09/29/2014, 01:19 PM
Updated 09/29/2014, 01:19 PM
© Reuters Traders work on the floor of the New York Stock Exchange

By Caroline Valetkevitch

NEW YORK (Reuters) - U.S.-listed shares of overseas companies were down more than 1 percent on Monday, led by declines in Chinese and Brazilian ADRs.

Protests in Hong Kong have added to worries about growth in China.

Shares of PetroChina (N:PTR) were down 3 percent, while shares of China Life Insurance Co (N:LFC) were down 2.1 percent and shares of China Petroleum and Chemical (N:SNP) were down 3 percent.

In Brazil, stocks were on track for their biggest one-day drop in three years after an election poll showed President Dilma Rousseff gaining on challenger Marina Silva ahead of Sunday's election. Investors have criticized Rousseff's government for enacting policies that have gone against minority shareholder interests in state-run companies.

Shares of Brazil's state-run oil company Petrobras (N:PBR) were down 10.3 percent in New York and among the day's most actively traded on the New York Stock Exchange. Shares of miner Vale (N:VALE) were down 2.3 percent.

Index snapshot at 13:04 EDT:

* S&P 500 (SPX) was falling 8.4 points, or 0.42 percent.

* Nasdaq Comp (IXIC) was losing 13.03 points, or 0.29 percent.

* Dow industrials (DJI) was dropping 85.47 points, or 0.5 percent.

* Russell 2000 <.TOY> was falling 3.97 points, or 0.35 percent.

* S&P MidCap (IDX) was dropping 5.5 points, or 0.4 percent.

© Reuters. Traders work on the floor of the New York Stock Exchange

* S&P SmallCap <.SPCY> was losing 2.16 points, or 0.33 percent.

(Editing by Nick Zieminski)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.