March 6, 2013 / 6:06 PM / 4 years ago

ADR REPORT-Petrobras jumps on diesel announcement; LatAm shares up

NEW YORK, March 6 (Reuters) - U.S.-listed shares of Latin American companies rose more than 1 percent on Wednesday, boosted by an 11.7 percent gain in shares of Petrobras after it announced an increase in the price of diesel.

Brazil's state-led oil company said late Tuesday it would raise by 5 percent the wholesale price of diesel fuel, the country's most-used motor oil. Losses on fuel prices have cut into money that could be used on investment.

Petrobras shares were up 11.7 percent at $16.18 in New York.

The BNY Mellon index of leading Latin American ADRs, up 1.6 percent, far outpaced the rest of the ADR market, which was essentially flat.

The BNY Mellon index of leading American depositary receipts was down 0.03 percent.

Among other Latin American shares, shares of Brazilian miner Vale were up 2.6 percent at $18.44 while shares of Brazil's Banco Santander were up 5 percent at $7.73. Shares of Mexico's Cemex were up 0.8 percent at $11.42.

The BNY Mellon index of leading European ADRs slipped 0.3 percent, while the FTSEurofirst 300 index of top shares was down 0.3 percent.

The BNY Mellon index of leading Asian ADRs was up 0.2 percent.

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