ADR Report-ADRs mixed, U.S. data offset by insurers

Fri Jul 25, 2008 6:53pm BST
 
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By Rodrigo Campos

NEW YORK, July 25 (Reuters) - Overseas shares traded in the United States were mixed on Friday as a rise in the energy and basic materials sectors sparked by positive U.S. economic data offset a slide in financial and insurance stocks.

The Bank of New York Mellon's index of leading American Depositary Receipts .BKADR was off 0.02 percent, however, and the 30-share Dow Jones Industrials average .DJI edged down 0.2 percent.

Data showed an unexpected rebound in U.S. consumer sentiment from 1980s lows, while orders for durable goods also rose.

ADRs of basic materials companies BHP Billiton (BBL.N: Quote, Profile, Research) ArcelorMittal (MT.N: Quote, Profile, Research) and Rio Tinto Plc (RTP.N: Quote, Profile, Research) rose between 1.3 and 2.3 percent on the New York Stock Exchange.

New York-traded shares of Tokyo-based Mizuho Financial (MFG.N: Quote, Profile, Research) tumbled 4.6 percent to $9.87 on the NYSE.

The Bank of New York Mellon's index of leading European ADRs .BKEUR was 0.04 percent higher. In Europe the FTSEurofirst 300 edged down 0.1 percent as a profit warning by Munich Re (MUVGn.DE: Quote, Profile, Research) dragged on the index of top European shares despite positive U.S. data.

ADRs of French oil company Total SA (TOT.N: Quote, Profile, Research) rose 0.8 percent to $75.46 while those in Dutch insurer AEGON (AEG.N: Quote, Profile, Research) fell nearly 5 percent to $11.84, both on the NYSE.

Wall Street-traded shares of Russian coking coal miner Mechel OAO (MTL.N: Quote, Profile, Research) jumped 13.7 percent a day after a 38 percent dive ignited by fears of a state campaign against the company after the prime minister, Vladimir Putin, criticized its pricing policies.  Continued...

 
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