ADR Report-Energy shares fall on economic worries

By Rodrigo Campos

NEW YORK, July 24 (Reuters) - Overseas shares traded in the United States fell on Thursday led by basic materials and energy companies after weak U.S. housing data and disappointing corporate earnings reports.

The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR fell 1.9 percent and the 30-share Dow Jones Industrials average .DJI was off 1.8 percent.

U.S. data showed a bigger-than-expected rise in claims for jobless benefits and a steeper decline in home sales than analysts had forecast, signaling weakness in the economy.

ADRs of Mexico's builder Homex Development (HXM.N: Quote, Profile, Research) fell 2.9 percent to $58.25 and those of China Petroleum (SNP.N: Quote, Profile, Research) lost 3.9 percent to $101.66, both on the NYSE.

The Bank of New York Mellon's index of leading European ADRs .BKEUR fell 1.3 percent. In Europe the FTSEurofirst 300 index of top European shares shed 1.5 percent led by the auto sector, which suffered after Daimler AG (DAIGn.DE: Quote, Profile, Research) and Renault (RENA.PA: Quote, Profile, Research) slashed their forecasts weighing on the auto makers sector.

ADRs of Zurich-based UBS AG (UBS.N: Quote, Profile, Research) sank 5 percent to $21.47 on the NYSE following news that the bank was sued by New York State, which accused it of deceptively selling auction-rate securities as cash equivalents. [ID:nN24463237]

New York-traded shares of Mechel OAO (MTL.N: Quote, Profile, Research) lost almost a third of their value after Russia's prime minister, Vladimir Putin, attacked its pricing policies and spread fears of a state campaign against the coking coal miner. [ID:nL4939645]

The Bank of New York Mellon's index of leading Asian ADRs .BKAS shed 1.3 percent, while overnight in Asia most stock markets closed higher on the back of a slide in oil prices.