ADR Report-Foreign shares gain on dollar, yen drop
By Chuck Mikolajczak
NEW YORK, July 9 (Reuters) - Overseas shares traded in the United States rose on Thursday as a drop in the U.S. dollar and the yen helped cut disperse risk aversion and boosted energy and other commodity stocks.
New York-traded shares of Brazilian oil company Petrobras (PBR.N: Quote, Profile, Research) rose 3.5 percent to $36.68 while PetroChina (PTR.N: Quote, Profile, Research) added 3.2 percent to $105.03 as U.S. crude oil prices rebounded following a slide below $60 a barrel.
The Bank of New York Mellon index of leading American Depositary Receipts (ADRs) gained 2.1 percent while the U.S. benchmark S&P 500 index .SPX climbed 0.5 percent.
The Bank of New York Mellon index of leading Asian ADRs added 1.7 percent, lifted by Chinese ADRs , which jumped 3.6 percent, and those from Korea , up 3.4 percent.
Australian miner Rio Tinto (RTP.N: Quote, Profile, Research) added 2.2 percent as metals prices rose, even after China confirmed the detention of an Australian executive of the company and three other Shanghai-based employees for allegedly stealing state secrets.
An Indian ADR index gained 2.6 percent, while the MSCI index of Asian shares outside Japan .MIAPJ0000PUS added 0.3 percent.
The Bank of New York Mellon index of leading European ADRs rose 1.7 percent as the FTSEurofirst 300 index of top shares snapped five straight days of losses, up 0.8 percent, on the strength of mining stocks as the price of copper and other metals rose after recent weakness. Miners were also boosted by better-than-expected earnings from aluminum producer Alcoa (AA.N: Quote, Profile, Research).
UK miner Anglo American jumped 5.9 percent to $13.48.
Receipts with the Bank of New York Mellon index of leading Latin American ADRs added 1.6 percent. (Editing by Leslie Adler)
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