ADR REPORT-ADRs fall, driven by losses in European shares

NEW YORK, March 27 Wed Mar 27, 2013 4:50pm EDT

NEW YORK, March 27 (Reuters) - U.S.-listed shares of overseas companies fell on Wednesday, driven by declines in European shares as fears of a run on Cypriot banks when they reopen on Thursday kept worries about the euro zone high.

Weak demand at an Italian debt auction also fueled euro zone concern.

U.S.-listed Italian shares were among the weakest performers, including shares of Eni, which dropped 2.2 percent to $45.18 in New York, and shares of Telecom Italia , which fell 2.8 percent to $7.05.

Among French ADRs, shares of Total were down 1.2 percent to $48.19 and shares of France Telecom were down 3.5 percent to $10.13.

Banks in the region were also mostly weaker. Shares of Deutsche Bank fell 3 percent to $39.07, while shares of Royal Bank of Scotland Group declined 3.6 percent to $8.37. Shares of ING were down 1.9 percent to $7.23.

Latin American and Asian ADRs did not follow the same trend, ending higher for the day, and the U.S.'s Standard & Poor's 500 index finished down just 0.1 percent after paring most earlier losses.

The BNY Mellon index of leading American depositary receipts ended down 0.4 percent, while the BNY Mellon index of leading European ADRs dropped 0.8 percent.

The BNY Mellon index of leading Asian ADRs was up 0.3 percent, while the BNY Mellon index of leading Latin American ADRs was up 0.5 percent.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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