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ADR REPORT-Asian shares lead market higher
June 5, 2012 / 9:07 PM / 6 years ago

ADR REPORT-Asian shares lead market higher

NEW YORK, June 5 (Reuters) - U.S.-listed shares of foreign companies rose for a third session in a row on Tuesday, boosted by gains in Asian shares as regional markets bounced back overnight.

Hopes for joint action coming out of talks among leaders of the Group of Seven largest economies earlier lifted the Nikkei and gave support to other Asian markets. But the G7 call bore no fruit even as Spain’s treasury minister said at current rates financial markets were effectively shut to Spain.

Despite the lack of action from the G7, European and U.S. markets were up for the day supported in part by data showing the pace of growth in the U.S. services sector edged up in May, welcome news after recent disappointing economic data.

The BNY Mellon index of leading ADRs gained 0.5 percent, while the U.S. benchmark Standard & Poor’s 500 index rose 0.6 percent.

U.S.-traded shares of Japanese companies led gains, with Sony up 3.2 percent to $13.20 and financial services company Nomura up 3.9 percent to $3.23.

An index of American depositary receipts (ADRs) of Japanese companies added 1.5 percent and a broader index of Asian ADRs rose 1 percent.

The BNY Mellon index of leading European ADRs rose 0.3 percent with Nokia up 5.7 percent at $2.76 and Lloyds Banking Group up 2.6 percent to $1.59. The FTSEurofirst 300 index of top shares closed 0.3 percent.

The BNY Mellon index of leading Latin American ADRs rose 0.4 percent. (Reporting by Rodrigo Campos, Editing by Gary Crosse)

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