By Rodrigo Campos

NEW YORK, May 18 (Reuters) - Overseas shares traded in the United States rallied on Monday as strong results from home improvement retailer Lowe's Cos Inc (LOW.N: Quote, Profile, Research) stoked hopes the U.S. recession is easing and consumers are reaching for their wallets.

Results from Indian elections over the weekend that gave a mandate to the ruling Congress party underpinned foreign stocks, as Indian shares skyrocketed.

Energy shares also rose along with the price of crude oil futures CLc1, up 4.8 percent to $58.70 per barrel as a fire in a key U.S. refinery and violence in Nigeria, Africa's top crude exporter, ignited concern about supplies. For details see [ID:nSYD478805]

Among top gainers were PetroChina Co Ltd (PTR.N: Quote, Profile, Research) and Brazil's Petrobras (PBR.N: Quote, Profile, Research), both up more than 6 percent.

The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) jumped 4.3 percent while the U.S. benchmark S&P 500 index .SPX gained 3 percent.

Banks were also some of the biggest advancers, with ADRs of Sao Paulo-based Itau Unibanco ITU.N up 7.7 percent to $14.39 and London-based Lloyds Banking Group (LYG.N: Quote, Profile, Research) up 12.3 percent to $6.03.

India's ICICI Bank (IBN.N: Quote, Profile, Research) soared more than 25 percent to $29.29 and led a surge of 16.2 percent in Indian ADRs on bets the election results could help speed a reform of the banking and insurance sectors and a move ahead on privatization. [ID:nBOM484673]

ADRs of Infosys Technologies (INFY.O: Quote, Profile, Research) jumped 9 percent to $34.90, and business software maker Wipro Ltd (WIT.N: Quote, Profile, Research) gained 7.5 percent to $11.49.