| NEW YORK
NEW YORK Feb 21 U.S.-listed shares of overseas
companies dropped more than 1 percent for a second straight
session on Thursday, with Italian shares falling ahead of the
country's elections this weekend.
Energy shares also were sharply lower following another day
of declines in crude oil prices. U.S. April crude fell
$2.38, or 2.50 percent, to settle at $92.84 a barrel.
Uncertainty over the outcome of the elections on Feb. 23-24
weighed on Italian shares. Italy's benchmark FTSE MIB
fell 3.1 percent.
Most investors expect a government headed by Pier Luigi
Bersani to win and continue with current reforms to tackle
Italy's debt problems. However, a resurgence by
former leader Silvio Berlusconi has caused doubts.
Among Italian ADRs, Eni was down 2 percent at $45.73
in New York while shares of Telecom Italia dropped 4.1
percent to $7.66 and shares of Luxottica Group were down
2.1 percent at $45.34.
In the energy sector, shares of France's Total fell
2 percent to $49.43, shares of Brazil's Petrobras
declined 2.9 percent to $15.30 and shares of PetroChina
were down 0.1 percent at $136.25.
The BNY Mellon index of leading American depositary receipts
was down 1.4 percent, while the Standard & Poor's 500
index was down 0.65 percent.
The BNY Mellon index of leading European ADRs was
down 1.5 percent, while the FTSEurofirst 300 index of
top shares closed down 1.5 percent.
The BNY Mellon index of leading Asian ADRs was down
1.5 percent, while the index of leading Latin American ADRs
was down 1.2 percent.