ADR Report-ADRs mixed, but tech and financials rise
NEW YORK, April 16 (Reuters)- Overseas shares traded in the United States were flat on Thursday, as strength in tech and positive results at JPMorgan Chase (JPM.N) were partially overset by some poor news.
The strength in tech came after Finland's Nokia (NOK.N) (NOK1V.HE), the world's top cellphone maker, said it saw signs of stabilizing demand in the handset market. [ID:nLG183354]
U.S.-listed shares of Nokia advanced 9.7 percent to $14.67.
The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR was up 0.3 percent to 97.64 percent while the 30-share Dow Jones industrial average .DJI slid 0.2 percent to 8,013.21.
In the United States, the strength of JPMorgan's results was offset by General Growth Properties GGP.N filing for bankruptcy and a drop of 10.8 percent in U.S. housing starts. [ID:nN16250267]
The Bank of New York Mellon's index of leading Asian ADRs .BKAS slid 0.9 percent to 98.26. In Asia, shares largely ended lower, pressured after weak Chinese GDP data.
Tech stocks were among the strongest gainers of Asian ADRs, lifted by the Nokia comments. China's Spreadtrum (SPRD.O) surged 9.3 percent to $1.53 and Taiwan's Silicon Motion (SIMO.O) rose 2 percent to $3.05. China Finance Online (JRJC.O) also advanced, rising 6.8 percent to $12.91 on JPMorgan.
The Bank of New York Mellon's index of leading European ADRs .BKEUR was up 0.7 percent to 90.47 while the FTSEurofirst 300 .FTEU3 index of top European shares ended up 1.8 percent at 802.02, lifted by JPMorgan and Nokia. [ID:nLG947678]
Financial ADRs performed strongly in Europe, lifted by the results at JPMorgan. Barclays (BCS.N) gained 4.3 percent while UBS AG (UBS.N) rose 1.8 percent to $11.43 and HSBC Holding (HBC.N) added 1.8 percent to $37.13. France's Thomson SA (TMS.N) was up 3.6 percent to $1.43, lifted by strength in tech.
Receipts with the Bank of New York Mellon's index of leading Latin American ADRs .BKLA rose 0.7 percent to 238.76. In Latin America, major benchmarks rose, with Brazil's Bovespa index rising 0.6 percent on strength in domestic retailers. [ID:nN1697625]
Among Latin American ADRs, financials were lifted by JPMorgan's results. Brazil's Banco Bradesco (BBD.N) rose 2 percent to $11.94 while Argentina's BBVA Banco Frances (BFR.N) was up 1.1 percent to $2.70 and Chile's Banco Santander Chile (SAN.N) was up 1.3 percent to $37.46.
(Reporting by Ryan Vlastelica, Editing by Chizu Nomiyama)
