ADR REPORT-Foreign shares flat, Europe offsets Asian weakness
NEW YORK Jan 11 (Reuters) - U.S.-listed shares of foreign companies were little changed on Friday, as strength in European shares was offset by profit-taking in Asia.
Asian shares have rallied this week on signs of improved growth in the region. An index of Asian American Depositary Receipts notched gains of more than 1 percent on both Wednesday and Thursday. That index was down 0.4 percent on Friday.
Some of the sectors that were strongest earlier this week sold off on Friday. U.S.-listed shares of Aluminum China , which jumped almost 7 percent on Thursday in its best day since May, dropped 3.8 percent to $12.78 on Friday.
China Finance Online fell 0.7 percent to $1.47, though it has soared 36 percent over the past two weeks.
Shares in Hong Kong fell 0.4 percent, ending a winning streak after Chinese December inflation data came in higher than expected.
The BNY Mellon index of leading American depositary receipts was flat, with the weakness in Asia offset by a 0.3 percent rise in European ADRs. The S&P 500 fell 0.1 percent.
Europe's FTSEurofirst 300 index of top shares closed down 0.2 percent, though ADRs remained higher on strength in banking shares. Barclays Plc rose 1.2 percent to $19.30 and HSBC Holding was up 0.8 percent at $54.87.
The BNY Mellon index of leading Latin American ADRs fell 0.7 percent.
Among the most active foreign shares traded on U.S. exchanges, India's Infosys gained 17 percent to $51.57 after raising its revenue forecast and posting a stronger-than-expected profit.
In the mining space, Rio Tinto fell 2.3 percent to $55.95 while BHP Billiton Ltd was off 2.6 percent at $76.63.
BHP Billiton suspended offshore oilfield operations and Rio Tinto shut down key iron ore export terminals as Cyclone Narelle intensified off Australia's northwest coast.
- U.S. war veteran released by North Korea returns home |
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- Teenager dies on Atlanta-bound flight, plane diverted
- U.S. ice storm causes blackouts, delays in Texas, Arkansas
- WTO overcomes last minute hitch to reach its first global trade deal