ADR REPORT-Foreign shares dip after three days of gains
NEW YORK Nov 20 (Reuters) - U.S.-listed shares of foreign companies dipped on Tuesday following three sessions of gains, weighed by shares of Asian companies after mildly disappointing Chinese data and profit-taking after recent sharp increases in Japanese exporters.
Energy shares fell with oil prices on signs of a ceasefire between Palestinians and Israelis, even as a Hamas official said Egyptian efforts to broker a truce with Israel had been held up.
U.S.-traded shares of PetroChina Co fell 1.4 percent to $131.69 and Petrobras fell 0.5 percent to $19.01.
The BNY Mellon index of leading American depositary receipts dipped 0.13 percent, while the U.S. benchmark S&P 500 index gained less than 0.1 percent.
The BNY Mellon index of leading European ADRs gained less than 0.1 percent, while the FTSEurofirst 300 index of top shares edged up on expectations that euro zone finance ministers will approve the next tranche of bailout cash for Greece.
Some European financials slipped, with Deutsche Bank and Credit Suisse both down more than 1.3 percent.
The BNY Mellon index of leading Asian ADRs fell 0.65 percent with Japan's Panasonic down 6.7 percent to $4.87 after gaining more than 12.7 percent in the last three sessions. Deutsche Bank cut its target price on the Tokyo-traded stock to 400 yen from 590 yen.
Chinese benchmarks fell after data showed direct foreign investment in China fell for a 10th straight month and big consumer firms reported weak results.
The Indian market ended flat, but Infosys ADRs were down 2.8 percent at $42.05 as a recent uptick was seen as unjustified given concerns over its business outlook.
Gains in Mexican shares buoyed the BNY Mellon index of leading Latin American ADRs, which gained 0.1 percent. America Movil rose 0.9 percent at $23.48.
The Mexican market was briefly halted and resumed trading without specifying the reason for the suspension. Technical problems are often to blame in such cases.
The Brazilian bourse was closed on Tuesday for a holiday.
Trending On Reuters
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video