ADR Report-ADRs fall on credit worries, oil
NEW YORK, June 20 (Reuters) -Overseas shares traded in the United States fell on Friday on renewed worries about the credit-battered financial sector and rising oil prices.
Financial shares were hammered across all regions. Deutsche Bank (DBKGn.DE: Quote, Profile, Research, Stock Buzz) (DB.N: Quote, Profile, Research, Stock Buzz) American Depositary Receipts (ADRs) fell 4.3 percent to $90.87, and Brazil's Banco Bradesco (BBDC4.SA: Quote, Profile, Research, Stock Buzz) (BBD.N: Quote, Profile, Research, Stock Buzz) lost 3.5 percent to $21.23.
Automakers' ADRs fell after credit ratings agency Standard & Poor's said it was concerned about U.S. automakers' cash outflows and the "dire state" of the vehicle finance market. Japan's Honda Motor Co (7267.T: Quote, Profile, Research, Stock Buzz) (HMC.N: Quote, Profile, Research, Stock Buzz) and India's Tata Motors (TAMO.BO: Quote, Profile, Research, Stock Buzz)(TTM.N: Quote, Profile, Research, Stock Buzz) slid.
The Bank of New York Mellon's index of leading ADRs .BKADR was down 2.3 percent while the 30-share Dow Jones industrial average .DJI slid 1.8 percent.
Rising oil prices hurt energy-sensitive sectors like airlines. Among airline ADRs, Ryanair Holdings (RYA.I: Quote, Profile, Research, Stock Buzz) (RYAAY.O: Quote, Profile, Research, Stock Buzz) fell 6.1 percent to $30.14 and China South Air (600029.SS: Quote, Profile, Research, Stock Buzz) (ZNH.N: Quote, Profile, Research, Stock Buzz) lost 6.7 percent to $21.84.
The price of oil rose more than $3 amid escalating tensions between Israel and Iran and supply disruptions in Nigeria triggered by militant attacks on a major offshore field.
The Bank of New York Mellon's index of leading European ADRs .BKEUR was down 1.9 percent. In Europe, shares hit a 14-week low, with the focus on the health of banks, high oil prices and rising inflation.
ADRs of UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz) (UBS.N: Quote, Profile, Research, Stock Buzz) fell 4.8 percent to $21.95, following negative comments from Lehman Brothers on the potential for more write-downs at European investment banks.
The Bank of New York Mellon's index of leading Asian ADRs .BKAS slid 3.5 percent. Asian shares ended at their lowest level in a week. Continued...







