ADR Report-ADRs end up as US stocks rally, oil falls
NEW YORK, Dec 5 (Reuters) - Overseas shares traded in the United States rose on Friday, tracking U.S. stocks in a late rally as crude oil futures plummeted, offsetting declines in European markets.
The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR gained 2.7 percent while the 30-share Dow Jones industrial average .DJI jumped 3.1 percent.
Companies in the telecommunications sector were among the top gainers, as ADRs of Brasil Telecom BRP.N rose 11.1 percent, China Unicom (CHU.N) added 5.5 percent and Deutsche Telekom (DT.N) gained 4.8 percent
U.S. crude oil futures CLc1 traded near four-year lows as a report showing a loss of more than half a million jobs in November added to the gloom about demand for oil in a recession economy. [ID:nN05250432]
Lower oil "means more discretionary spending for consumers, who are starting to feel better about themselves because they don't have to drop $100 every time they want to fill up their tank," said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital in Baltimore.
The Bank of New York Mellon's index of leading Asian ADRs .BKAS rose 2.9 percent, but the MSCI index of Asian shares outside Japan .MIAPJ0000PUS shed 0.23 percent and Tokyo's Nikkei .N225 ended flat.
New York-traded shares of China Life Insurance (LFC.N) jumped 10.6 percent to $43.50.
The Bank of New York Mellon's index of leading European ADRs .BKEUR rose 2.5 percent despite a 4 percent dive in the FTSEurofirst 300 .FTEU3 index of top European shares.
European stocks slid on banks and energy companies after the grim U.S. jobs data and the session ended before Wall Street's rally, but most banks' ADRs were positive at the close in New York.
ADRs of Barclays plc (BCS.N) gained 6.4 percent to $8.99 even though its London-traded stock (BARC.L) shed 6 percent in Friday's session.
Receipts with the Bank of New York Mellon's index of leading Latin American ADRs .BKLA jumped 3.8 percent as Mexican beverages company Femsa (FMX.N) gained 4.2 percent and Brazilian bellwether Petrobras (PBR.N) rose 4.6 percent.
For the week, the leading ADR index lost 4.9 percent. (Additional reporting by Ryan Vlastelica, Editing by Chizu Nomiyama)
