ADR Report-Foreign stocks tumble on data, dollar weighs

By Rodrigo Campos

NEW YORK, June 3 (Reuters) - Overseas shares traded in the United States suffered their worst percentage decline in three weeks on Wednesday as a batch of weak U.S. economic data revived worries about the global economic recovery.

New York-traded shares of foreign energy companies were among the hardest hit, as light crude futures settled 3.5 percent lower on a rise in inventories and a jump in the U.S. dollar, which depresses the value of commodities denominated in the greenback.

Shares of Brazilian energy company Petrobras (PBR.N) plunged 6.5 percent to $41.97 and China's CNOOC Ltd (CEO.N) shed 3.8 percent to $136.47.

The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR dropped 3.4 percent while the U.S. benchmark S&P 500 index .SPX fell 1.4 percent. It was the largest percentage decline for the index since May 13, when weak U.S. retail sales data sent stocks tumbling.

U.S. data on Wednesday showed the services sector contracted for an eighth straight month in May, while a separate report showed employers cut 532,000 private-sector jobs last month. For details see [ID:nN03129318] and [ID:nN03546607]

The data fell short of expectations and pointed to a slower revival in consumer and business spending, which are key for the economy's recovery.

The Bank of New York Mellon's index of leading Asian ADRs .BKAS fell 2.7 percent. Overnight in Asia, shares closed mostly higher following upbeat U.S. economic data on Tuesday.

Top decliners included ADRs of Papua New Guinean miner Lihir Gold (LIHR.O), down 6.8 percent to $25.38.

The Bank of New York Mellon's index of leading European ADRs .BKEUR fell 3.5 percent. In Europe, the FTSEurofirst 300 .FTEU3 index of top shares closed down 2 percent, hurt by Wednesday's U.S. data.

ADRs from banks were among outstanding declines, with Deutsche Bank (DB.N) and Spain's BBVA (BBV.N) each down more than 5 percent.

Receipts with the Bank of New York Mellon's index of leading Latin American ADRs .BKLA lost 5 percent. In Latin America, major benchmarks followed the downtrend in Wall Street, with Brazil's Bovespa .BVSP down 3.5 percent and Mexico's IPC .MXX down 2.1 percent. (Editing by Dan Grebler)