UPDATE 1-ADR Report-ADRs jump with energy, mining companies

Fri May 29, 2009 10:35pm BST
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(Updates with closing prices, adds more companies)

By Caroline Valetkevitch

NEW YORK, May 29 (Reuters) - U.S.-listed shares of overseas companies rose on Friday, with higher oil and gold prices driving up shares of energy companies and miners.

ADRs of Japanese automakers also gained as U.S. automaker General Motors Corp GM.N appeared closer to filing for bankruptcy protection.

The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) rose 1.4 percent while the U.S. benchmark S&P 500 index .SPX also gained 1.4 percent.

Crude oil prices extended this week's sharp gains, rising for the sixth straight session on Friday, as economic data from around the world pointed to signs of a quicker recovery.

The move added to bullish momentum after this week's oil inventory reports showed crude supplies down and after OPEC kept its output steady. U.S. crude CLc1 gained $1.23 to settle at $66.31 a barrel.

Shares of BP Plc (BP.N: Quote, Profile, Research) rose 1.4 percent at $49.50 in New York, while shares of Brazilian oil company Petrobras (PBR.N: Quote, Profile, Research) gained 1.2 percent to $44.03. Shares of PetroChina (PTR.N: Quote, Profile, Research) were up 1 percent at $116.29.

U.S. gold futures GCQ9 rose above $980 an ounce, ending near a three-month high, as risk appetite hurt the dollar. Investors see gold as a safe haven as the value of their dollar-denominated portfolios falls.  Continued...

 
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