ADR Report-ADRs rise on U.S. data; financial, tech stronger
NEW YORK, June 24 (Reuters) - Overseas shares traded in the United States rallied on Wednesday, rising after positive data on durable goods in the United States lifted investor confidence.
Sentiment was also boosted after the Organization for Economic Cooperation and Development said the economies of its 30-member countries should return to modest growth next year, the first improvement in two years. [ID:nSP467098]
The Bank of New York Mellon index of leading American Depositary Receipts (ADRs) .BKADR rose 1.6 percent to 110.59 while the U.S. benchmark S&P 500 index .SPX gained 1.4 percent to 907.40.
U.S. markets were up as a report showed durable goods orders in May jumped unexpectedly, reinforcing the belief the economy was healing. Tech stocks were also lifted after Oracle Corp (ORCL.O) reported strong quarterly results. [ID:nN24194184]
The Bank of New York Mellon index of leading Asian ADRs .BKAS surged 2.2 percent to 108.50. In Asia, shares closed higher, with Chinese stocks rising to a one-year closing high and the Hong Kong stock market jumping 2 percent. [ID:nHKG185842]
Tech stocks were strong performers among Asian ADRs. In Taiwan, Silicon Motion (SIMO.O) soared 14 percent to $3.60 while Taiwan Semi (TSM.N) added 3.6 percent to $9.57 and Siliconware Precision Industries (SPIL.O) gained 3.6 percent to $6.35.
The Bank of New York Mellon index of leading European ADRs .BKEUR was up 1.1 percent to 103.31 while the FTSEurofirst 300 .FTEU3 index of top shares ended up 2.4 percent to 853.56, led by financial stocks. The sector gained after the biggest-ever liquidity injection by the European Central Bank (ECB) boosted hopes that the effort could help pull the euro zone economy out of a recession. [ID:nLO464877]
European financial stocks remained strong on U.S. exchanges, with Barclays Plc (BCS.N) up 4.4 percent to $17.82 and Lloyds Banking Group (LYG.N) surging 8.1 percent to $4.56.
Receipts with the Bank of New York Mellon index of leading Latin American ADRs .BKLA rose 1.7 percent to 274.70. In Latin America, major benchmarks were up, with Brazilian stocks gaining on the U.S. data and ECB liquidity injection. [ID:nN24195041]
As in Europe, financial stocks were strong performers among Latin American ADRs. Brazil's Banco Bradesco (BBD.N) rose 2 percent to $14.20 while Argentina's BBVA Banco Frances (BFR.N) added 2.6 percent to $3.90 and Chile's Banco Santander-Chile (SAN.N) was up 2.9 percent to $44.77.
(Editing by Padraic Cassidy)
