US foriegn shares down on mining losses

Shares in foreign companies traded in the United States were down on Wednesday on losses by mining companies as commodity prices declined. Overall, the Bank of New York’s index of leading American Depository Receipts (ADRs) was down 0.3 percent to 127.06. Leading European ADRs fell by 0.4 percent to 130.49, while Asian ADRs on the index gained 0.2 percent to 116.09 and Latin American ADRs were up 0.1 percent to 168.45.

In the mining sector, the Reuters CRB Commodity Index was down by 1.3 percent to 315.79. Harmony Gold Mining, a South African company, lost 3.7 percent to $8.55 on the New York Stock Exchange, while Gold Fields Ltd. was down 4.1 percent to $11.19, also on the NYSE. Australian company BHP Billiton Plc fell 2.6 percent to $29.72.

Telecommunications companies were up however. TDC A/S, a Danish telecommunications company, was up 15.1 percent to $25.93 on the NYSE on an internet report that private equity funds were interested in the company. Additionally, Brazilian wireless company Tele Leste Cellular Participacoes added 5.5 percent to $7.13.

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