ADR Report-Strong profits drive gains; SAP shrs rise 9 pct

NEW YORK, July 29 (Reuters) - Overseas shares traded in the United States rose on Tuesday, driven by strong profits from companies such as SAP of Germany and Japan's Matsushita Electric Industrial Co.

The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR was up 1.0 percent while the 30-share Dow Jones industrial average .DJI was up 2 percent at 11,345.70.

ADRs of German business software maker SAP (SAP.N) rose 9 percent to $58.63 after the company reported quarterly revenue and profit that beat expectations. The company gave a rosy outlook for the year.

ADRs of Alcatel-Lucent (ALU.N) rose 6 percent to $6.10 after Chairman Serge Tchuruk and Chief Executive Patricia Russo were ousted amid pressure from shareholders. The company, which has lost more than half its market value since the merger of Alcatel and Lucent took effect at the end of 2006, issued another gloomy outlook.

Shares of Russian mining company Mechel (MTL.N) fell 6 percent to $18.32 on the New York Stock Exchange. Seventeen workers were injured in an explosion at a company coal mine in Siberia, a day after Prime Minister Vladimir Putin accused the company of tax evasion.

The Bank of New York Mellon's index of leading European ADRs rose 0.9 percent.

ADRs of Panasonic maker Matsushita Electric Industrial Co Ltd MC.N rose 2 percent to $20.61. The company reported a 48 percent rise in quarterly profit amid strong sales of plasma flat screen televisions.

But ADRs of Sony Corp (SNE.N) fell 6 percent to $37.55. The company posted a larger-than-expected 47 percent drop in quarterly profit. The company also lowered its outlook, citing a slump at its Sony Ericsson mobile phone joint venture. Ericsson ADRs (ERIC.O) fell 0.7 percent to $10.66.

ADRs of Taiwan Semiconductor (TSM.N) traded unchanged at $9.77. Macquarie downgraded its rating on the world's biggest contract chip maker to "neutral" from "outperform" and lowered its price target, citing expectations that the company will offer a cautious outlook when it reports earnings on Thursday.