ADR Report-Foreign stocks slide on oil; Europe, LatAm weigh

Fri May 15, 2009 9:57pm BST
[-] Text [+]

By Rodrigo Campos

NEW YORK, May 15 (Reuters) - Overseas shares traded in the United States fell on Friday pulled by a steep decline in crude prices that hurt energy shares and by sliding European and Latin American companies.

Among the top drags were New York-traded shares of Brazilian oil company Petrobras (PBR.N: Quote, Profile, Research), down 2.4 percent to $37.01 as crude futures CLc1 settled down 3.9 percent at $56.34 per barrel.

British wireless communications company Vodafone Group plc VOD.N fell 3.7 percent to $18.47.

The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) slid 1.1 percent, mirroring the decline in the U.S. benchmark S&P 500 index .SPX.

For the week, the ADR index fell 4.9 percent and the S&P 500 lost 5 percent.

The Bank of New York Mellon's index of leading European ADRs shed 1.5 percent. In Europe, the FTSEurofirst 300 index of top shares gained 0.5 percent lifted by banks.

But ADRs shed early gains tracking the U.S. market and European banks ended mostly lower. ADRs of Barclays plc (BCS.N: Quote, Profile, Research), a top gainer overseas, shed 0.3 percent to $15.86.

Receipts with the Bank of New York Mellon's index of leading Latin American ADRs tumbled 1.5 percent. In Latin America, major benchmarks were slightly lower as Brazilian, Mexican, and Chilean benchmarks shed less than 1 percent each.  Continued...

 
PBR.N
Last:
Change:
Up/Down:
 
by Name by Symbol