ADR Report-ADRs flat; Rio Tinto up on results
By Deepa Seetharaman
NEW YORK, Aug 26 (Reuters) - Overseas shares traded in the United States were little changed on Tuesday, but natural resource companies gained as crude oil prices rose and global miner Rio Tinto reported results that topped estimates.
Shares of the Australian company (RIO.AX) (RTP.N) rose after posting a 55 percent rise in first-half profit. For details, see [ID:nSYD184137].
Chinese offshore oil producer CNOOC (CEO.N) rose 3.3 percent in U.S. trade, leading a broad advance in energy shares. Oil prices rose more than $1 to $116.25 a barrel on fears that Hurricane Gustav may disrupt U.S. oil production and refining if it enters the Gulf of Mexico.
The Bank of New York Mellon's index of leading American Depository Receipts (ADRs) .BKADR fell 0.05 percent, while the 30-share Dow Jones industrial average .DJI also fell 0.11 percent.
The Bank of New York's Mellon's index of leading European ADRs .BKEUR fell 0.20 percent, while the FTSEurofirst 300 .FTEU3 index of top European shares rose slightly at 0.16 percent to 1171.09.
The European stock markets rose on Tuesday on U.S. data showing robust consumer confidence. Shares of Irish drug maker Elan (ELN.N) increased on news that its multiple sclerosis drug Tysabri looks set to stay on the market, albeit with a revised safety warning.
The Bank of New York Mellon's index of leading Latin American ADRs .BKLA also fell 0.48 percent.
Brazilian stocks' rallied led by oil giant Petrobras (PETR4.SA), while the Bovespa index .BVSP rose .34 percent by mid-day.
Meanwhile, Mexican stocks fell hurt by the strengthening dollar and a sharp decline in America Movil (AMX.N), which lost 1 percent to $50.14.
The Bank of New York Mellon's index of leading Asian ADRs .BKAS rose 0.70 percent.
Shares of Chinese mining company Yanzhou Coal Mining (YZC.N) (1171.HK) rose more than 3 percent to $16.21.
(Editing by Kenneth Barry)
