By Mia Lamar
International companies trading in New York closed mixed
Wednesday, with a new round of political concerns in Italy driving
down European stocks.
The Bank of New York index of ADRs fell 0.4%, to 134.63.
Pier Luigi Bersani--considered the front runner in Italy's race
to form a governing alliance--was rebuffed this week in his efforts
to form a coalition with the upstart Five-Star Movement. Mr.
Bersani has said he wouldn't seek a partnership with Silvio
Berlusconi's center-right coalition.
Most banking shares in Europe were mired in the red. Germany's
Deutsche Bank (DB, DBK.XE) fell 3%, to $39.07, France's BNP Paribas
(BNPQY, BNP.FR) lost 3.1%, to $25.35, and Switzerland's UBS (UBS,
UBS, UBSN.VX) fell 1.8%, to $15.31.
The European index fell 0.8%, to 126.23.
Energy firms tracked oil prices lower. France's Total SA (TOT,
FP.FR) fell 1.2%, to $48.19, and Spanish oil group Repsol SA
(REPYY, REP.MC) lost 2.1%, to $20.31.
The Asian index rose 0.3%, to 136.30.
Shares of Anglo-Australian mining giant Rio Tinto PLC (RIO,
RIO.AU, RIO.LN) gained 0.9%, to $47.56 after the price of iron ore
rose overnight. Rival BHP Billiton (BHP, BHP.AU, BLT.LN) gained
0.2%, to $69.58.
The Latin American index rose 0.5%, to 324.90, and the emerging
markets index gained 0.5%, to 281.31.
South African gold-mining companies jumped along with the price
of gold. Drdgold Ltd. (DRD, DRD.JO) rose 4.2%, to $7.75, and
Harmony Gold Mining Co. (HMY, HAR.JO) shares added 3.4%, to
$6.40.
Some investors buy gold as a haven from economic or political
turmoil on the belief that the metal will hold its value better
than assets such as stocks or bonds.
Write to Mia Lamar at mia.lamar@dowjones.com