ADR Report-Foreign shares fall on recovery worry

By Chuck Mikolajczak

NEW YORK, July 8 (Reuters) - Overseas shares traded in the
United States fell on Wednesday as investors grew more
concerned over prospects for an economic recovery and unease
ahead of U.S. second-quarter results.

In an update of its World Economic Outlook, the
International Monetary Fund said the global economy is likely
to contract 1.4 percent this year, slightly more than the 1.3
percent decline it forecast in April. [ID:nN08376464]

Japanese exporters, such as Honda Motor Co (HMC.N) Toyota
Motor Corp (TM.N), showed weakness as the Japanese yen posted
in its biggest jump in months. U.S.-traded shares of Honda fell
3.8 percent to $25.19, and Toyota ADRs shed 1.9 percent to
$73.02. [ID:nN08395008]

New York-traded shares of Brazilian oil company Petrobras
(PBR.N) shed 3.5 percent to $34.86 while PetroChina (PTR.N)
dropped 2.3 percent to $100.73 as U.S. crude oil futures fell
to a six-week low after government data showed a
larger-than-expected rise in distillate and gasoline
inventories.

The Bank of New York Mellon index of leading American
Depositary Receipts (ADRs) .BKADR fell 1.7 percent while the
U.S. benchmark S&P 500 index .SPX dropped 1.1 percent.

The Bank of New York Mellon index of leading Asian ADRs
.BKAS slid 1.7 percent.

An Indian ADR index .BKIN skidded 5.2 percent, as the
economic jitters affected financials, including Icici Bank Ltd
(IBN.N), which slid 8.2 percent to $25.62. [ID:nBOM393794]

The MSCI index of Asian shares outside Japan
.MIAPJ0000PUS dipped 1.2 percent.

The Bank of New York Mellon index of leading European ADRs
.BKEUR fell 1.7 percent, while the FTSEurofirst 300 .FTEU3
index of top shares fell for the fifth straight session, down
1.1 percent, for its longest losing streak since mid-January.

Receipts with the Bank of New York Mellon index of leading
Latin American ADRs .BKLA fell 2.1 percent. In Latin America,
major benchmarks fell along with weakened currencies.
(Editing by Leslie Adler)