ADR Report-ADRs flat as miners overshadow pharmaceuticals

By Kristina Cooke

NEW YORK, Feb 27 (Reuters) -U.S.-listed shares of overseas companies were little changed on Wednesday as miners gained on rising commodity prices, overshadowing a drop in pharmaceuticals companies.

ADRs of BHP Billiton (BHP.N) (BHP.AX), the world's largest miner, rose 2.3 percent to $74.97, as copper hit a new 21-month high.

The Reuters-Jefferies .CRB index, which tracks prices of 19 commodity futures, hit record highs for a ninth straight session.

Elan Corp (ELN.I) (ELN.N) ADRs fell 5.8 percent to $22.89, after the U.S. Food and Drug Administration said the company is warning doctors about reports of "significant" liver injury suffered by patients taking its Tysabri multiple sclerosis drug. AstraZeneca (AZN.N) (AZN.L) ADRs fell after the drugmaker said it is stopping a clinical trial of Recentin as a treatment for lung cancer after a mid-stage study failed to meet its main goal.

The Bank of New York's index of leading American Depositary Receipts (ADRs) .BKADR was up 0.1 percent. The 30-share Dow Jones industrial average .DJI was also flat, after a rally inspired by the lifting of investment caps on the two largest U.S. mortgage finance companies lost steam on doubts they have resources to prevent deeper damage to the housing market.

In Europe, shares ended lower as investors worried about the U.S. economy and the outlook for financials. The Bank of New York's index of leading European ADRs .BKEUR was down 0.08 percent.

ADRs of French-Italian chipmaker STMicroelectronics (STM.PA) (STM.N) rose 2.3 percent to $12.84 after France bought a further 2.85 percent stake in the company to "maintain the company's independence and stability in its shareholding."

ADRs of Spain's Telefonica (TEF.MC) (TEF.N) rose after the company said on Wednesday it plans to buy back 100 million of its own shares, worth about 1.96 billion euros ($2.95 billion) at current prices, in 2008 and the first half of 2009.

The Bank of New York's index of leading Asian ADRs .BKAS was up 0.75 percent. In Asia, shares ended higher.

Aluminum Corp of China Ltd (601600.SS) (ACH.N), known as Chalco, is likely to buy 4.18 billion yuan ($584 million) worth of stakes in six sister companies from its parent, Aluminum Corp of China, or Chinalco, the official Shanghai Securities News reported. ADRs rose 5.5 percent to $52.10.

Receipts with the Bank of New York's index of leading Latin American ADRs .BKLA up 1.2 percent. In Latin America, major benchmarks were hgiher, lifted by the surge in copper prices.

ADRs of Peruvian miner Buenaventura (BUEv.LM) (BVN.N) rose 2.4 percent to $74.32.