ADR Report-ADRs mixed, but tech stocks pressured after Intel
NEW YORK, April 15 (Reuters)- Overseas shares traded in the United States were mixed on Wednesday, after better-than-expected regional factory data in the United States lifted hopes that the recession could be moderating.
However, sentiment also turned sour by weakness in tech stocks, which were down following a lack of clarity in Intel's (INTC.O) revenue outlook.
The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR was up 0.11 percent to 96.17 while the 30-share Dow Jones industrial average .DJI edged 0.05 percent higher to 7,924.08.
The Bank of New York Mellon's index of leading Asian ADRs .BKAS slipped 0.05 percent to 98.11.
In Asia, shares were mixed, with Hong Kong stocks closing at a six-month high on the hope that China would extend further help to domestic industries. [ID:nHKG179448] Stocks in Taiwan, on the other hand, fell as investors sold financials that had risen on a potential agreement with China. [ID:nTP166633]
Asian tech ADRs also were dragged down by Intel, with Sony Corp (SNE.N) off 2.2 percent to $24.83. In Taiwan, Siliconware Precision Industries (SPIL.O) and Advanced Semiconductor Engineering (ASX.N) were down 3.1 percent to $6.23 and 5.2 percent to $2.55, respectively.
The Bank of New York Mellon's index of leading European ADRs .BKEUR was up 0.4 percent to 88.73 while the FTSEurofirst 300 .FTEU3 index of top European shares ended down 0.2 percent to 788.21. [ID:nLF527055]
In Europe, UBS (UBSN.VX) (UBS.N) fell after reporting a first-quarter loss and saying it would cut jobs, leading European banks lower. [ID:nLF479909] The stock fell 2 percent to $10.97 on the New York Stock Exchange, but several other European financial ADRs were in positive territory. Credit Suisse (CS.N) rose 1.5 percent to $32.93, HSBC Holding (HBC.N) added 1.4 percent to $35.85 and Barclays Plc (BCS.N) surged 8.5 percent to $11.88.
Receipts with the Bank of New York Mellon's index of leading Latin American ADRs .BKLA was down 0.8 percent to 234.69.
In Latin America, Brazilian shares ended lower as banks struggled with trouble abroad and the country's currency eased against the dollar. [ID:nN15373014] Stocks in Argentina also fell on some profit taking. [ID:nN14451996]
Among Latin American ADRs, Banco Bradesco (BBD.N) slid 0.5 percent to $11.48.
Energy stocks also came under pressure after data from the Energy Information Administration showed that stockpiles rose more than expected last week, reaching their highest level in nearly 19 years. [ID:nN15385182] Petroleo Brasil (PBR.N) sank 3.1 percent to $34. (Reporting by Ryan Vlastelica; Editing by Theodore d'Afflisio)
