ADR REPORT-ADRs flat after Greek deal; ING, CS drop on results

Related Topics

Quotes

   

NEW YORK | Thu Feb 9, 2012 6:40pm GMT

NEW YORK Feb 9 (Reuters) - U.S.-listed shares of overseas companies were flat on Thursday, even though Greece arrived at a new bailout package after weeks of delays, while ING and Credit Suisse shares sank after delivering disappointing results.

European bank shares were mostly mixed, though near unchanged. Shares of Deutsche Bank were up 0.7 percent at $46.60 in New York. Shares of Barclays were down 0.4 percent at $14.95.

Still, shares of Dutch bank and insurance group ING dropped 5.7 percent to $9.18 after it said the effects of the European debt crisis were worsening and announced a lower-than-expected quarterly profit.

Credit Suisse shares fell 3 percent to $26.82 after it posted a fourth-quarter loss in commodities trading.

The Greek deal involves reforms and austerity measures to secure a second international bailout and avoid a messy default for the country. But the long delay in coming to a deal kept investors on edge and focused on problems in Greece for weeks.

Among Latin American ADRs, shares of Mexican telecommunications firm America Movil were up 0.2 percent at $24.46. The company posted a 21 percent increase in fourth-quarter net profit.

Mining shares fell for a second day, as global miner Rio Tinto posted a second-half loss. The news follows BHP Billiton's disappointing results on Wednesday.

Rio Tinto shares were down 1.4 percent at $60.68, while shares of BHP were down 1.1 percent at $79.86.

Shares of Brazilian miner Vale were down 1.3 percent at $26.07.

Rio Tinto also took a charge on its struggling aluminum business.

The BNY Mellon index of leading American Depositary Receipts was up 0.01 percent, while the Standard & Poor's 500 index was up 0.1 percent.

The BNY Mellon index of leading European ADRs was up 0.1 percent, while the FTSEurofirst 300 index of top shares was up 0.3 percent.

The BNY Mellon index of leading Asian ADRs was up 0.02 percent and the BNY Mellon index of leading Latin American ADRs was down 0.4 percent. (Reporting By Caroline Valetkevitch; Editing by Leslie Adler)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.