ADR Report-Foreign shares lifted by energy stocks
NEW YORK, March 16 |
NEW YORK, March 16 (Reuters) - Overseas shares traded in the United States rose on Tuesday, taking a cue from global equity markets and energy stocks that rose along with the price of oil.
Oil CLc1 gained more than 2 percent to $81.63 a barrel as the U.S. dollar weakened and as OPEC ministers pledged to keep oil output cuts in place at a meeting Wednesday.
Among the gainers, New York-listed shares of ENI (ENI.N) gained 1 percent to $47.98 and BP Plc (BP.N) added 0.8 percent to $57.01.
Also in the energy sector, Royal Dutch Shell Plc (RDSa.N) climbed 1.6 percent to $58.86 after it said it was planning a return to robust growth in oil and gas production and unveiled strong reserves additions. For details, see [ID:nLDE62E1DJ]
Greek ADRs rose after Standard & Poor's affirmed its ratings on the country and ended its review for a downgrade, saying the government's recent austerity measures are supportive of the ratings. The Bank of New York Mellon Greece ADR index .BKGR rose 1.5 percent, while the National Bank of Greece (NBG.N) was up 2.6 percent at $4.43. [ID:nN16231275]
Rio Tinto RTP.N gained after a report that the miner is in talks with China's top aluminum group, Chinalco, to develop the Simandou iron ore project in Guinea. Rio Tinto was up 1.3 percent at $225.27. [ID:nSGE62E0UL]
The chairman of China's largest chipmaker, Semiconductor Manufacturing International Corp (SMI.N), told Reuters on the sidelines of an industry event that the company was running at full capacity. SMIC's shares were off 1.8 percent to $4.98. [ID:nTOE62F06Z]
The Bank of New York Mellon index of leading American Depositary Receipts (ADRs) .BKADR was up 0.8 percent, while the S&P 500 index .SPX was lifted as concerns about Greece eased and semiconductor shares rose.
The Bank of New York Mellon index of leading Asian ADRs .BKAS rose 0.5 percent. Shares in China bounced back from a five-week low, while Japan's Nikkei dipped on profit taking.
The Bank of New York Mellon index of leading European ADRs .BKEUR gained 1 percent. European shares got a boost from bank and energy stocks.
Receipts with the Bank of New York Mellon index of leading Latin American ADRs .BKLA were up 0.7 percent.
(Reporting by Leah Schnurr; Editing by Andrew Hay)
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