NEW YORK Jan 10 U.S.-listed shares of foreign
companies rose 1 percent on Thursday as stronger-than-expected
export data from China boosted optimism about growth in the
world's second-largest economy.
Cyclical shares, which are closely tied to the pace of
economic growth, were among the biggest advancers, with the
energy and material sectors especially strong.
China's export growth rebounded sharply to a seven-month
high in December, a strong finish to the year after seven
straight quarters of slowdown, even as demand from Europe and
the United States remained subdued.
The BNY Mellon index of leading American depositary receipts
rose 1.1 percent, while the BNY Mellon index of leading
Asian ADRs was up 1 percent.
The rises outpaced a 0.4 percent advance in the S&P 500
, which struggled to notch further gains as it
hovered near a five-year high.
Aluminum China climbed 5.6 percent to $13.16, while
China Petroleum was up 1.1 percent at $118.54. Tech
shares were also strong in Asia, with Taiwan Semi up 2.5
percent to $17.98 and Advanced Semiconductor Engineering
up 2.6 percent at $4.40.
The BNY Mellon index of leading European ADRs rose
1.3 percent as the FTSEurofirst 300 index of top shares
closed down 0.3 percent in a pullback from near two-year highs.
BP Plc rose 1.3 percent to $44.84 while
The BNY Mellon index of leading Latin American ADRs
rose 0.5 percent.
Among the most active foreign shares traded on U.S.
exchanges, Nokia Corp surged 18 percent to $4.43 after
it said strong sales of Lumia smartphones helped its mobile
phone business achieve underlying profitability in the fourth
quarter, raising hopes the struggling handset maker may be past
Canadian silver mining firm Silver Standard Resources
fell 6.9 percent to $14.10 after it said it would offer
$200 million of convertible senior notes and would use up to
about $138 million of the proceeds to repurchase or redeem its
existing convertible notes in March.