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ADR REPORT-Foreign shares flat, Europe offsets Asian weakness
January 11, 2013 / 5:05 PM / 5 years ago

ADR REPORT-Foreign shares flat, Europe offsets Asian weakness

NEW YORK, Jan 11 (Reuters) - U.S.-listed shares of foreign companies were little changed on Friday, as strength in European shares was offset by profit-taking in Asia.

Asian shares have rallied this week on signs of improved growth in the region. An index of Asian American Depositary Receipts notched gains of more than 1 percent on both Wednesday and Thursday. That index was down 0.4 percent on Friday.

Some of the sectors that were strongest earlier this week sold off on Friday. U.S.-listed shares of Aluminum China , which jumped almost 7 percent on Thursday in its best day since May, dropped 3.8 percent to $12.78 on Friday.

China Finance Online fell 0.7 percent to $1.47, though it has soared 36 percent over the past two weeks.

Shares in Hong Kong fell 0.4 percent, ending a winning streak after Chinese December inflation data came in higher than expected.

The BNY Mellon index of leading American depositary receipts was flat, with the weakness in Asia offset by a 0.3 percent rise in European ADRs. The S&P 500 fell 0.1 percent.

Europe's FTSEurofirst 300 index of top shares closed down 0.2 percent, though ADRs remained higher on strength in banking shares. Barclays Plc rose 1.2 percent to $19.30 and HSBC Holding was up 0.8 percent at $54.87.

The BNY Mellon index of leading Latin American ADRs fell 0.7 percent.

Among the most active foreign shares traded on U.S. exchanges, India's Infosys gained 17 percent to $51.57 after raising its revenue forecast and posting a stronger-than-expected profit.

In the mining space, Rio Tinto fell 2.3 percent to $55.95 while BHP Billiton Ltd was off 2.6 percent at $76.63.

BHP Billiton suspended offshore oilfield operations and Rio Tinto shut down key iron ore export terminals as Cyclone Narelle intensified off Australia's northwest coast.

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