ADR REPORT-ADRs climb on earnings, dollar's decline
NEW YORK, April 30
NEW YORK, April 30 (Reuters) - U.S.-listed shares of foreign companies edged higher on Tuesday, buoyed by a soft report on Midwest business activity, which signaled a slowing economy and added to expectations the Federal Reserve will keep its stimulus policy.
The Institute for Supply Management-Chicago business barometer fell to 49 in April, which signifies contraction and was the lowest since September 2009.
The softer data reduced chances the Fed, which ends a two-day policy meeting on Wednesday, would halt or curtail its monthly bond-buying to keep borrowing costs low.
The dollar fell to a two-month low against a basket of currencies after the data. A weaker dollar increases demand for ADRs, which are priced in greenbacks.
European banks traded in New York rose, boosted by a 4.8 percent gain in Deutsche Bank to $45.97 after its first-quarter results and successful raising of capital.
Swiss bank UBS AG climbed 6.2 percent to $17.82 after posting earnings that topped expectations.
But U.S.-listed shares of Anheuser-Busch InBev slipped 0.6 percent to $94.94 after the world's largest brewer cut its sales forecast for Brazil, its second-biggest market.
The BNY Mellon index of leading European ADRs rose 0.22 percent, while the FTSEurofirst 300 index of top shares closed up 0.19 percent.
The BNY Mellon index of leading Latin American ADRs climbed 0.8 percent.
Brazil's Embraer SA jumped 6.2 percent to $34.76 after the world's biggest maker of regional jets said an order for at least 30 new planes from United Airlines on Monday raised the odds of greater production next year.
The BNY Mellon index of leading Asian ADRs inched up 0.05 percent.
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