ADR Report-ADRs rise; oil's surge offsets America Movil
By Ellis Mnyandu
NEW YORK, April 25 (Reuters) - U.S.-listed shares of overseas companies rose on Friday as a runup in oil prices lifted energy stocks such as BP Plc (BP.L: Quote, Profile, Research, Stock Buzz)(BP.N: Quote, Profile, Research, Stock Buzz), offsetting downbeat America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz)(AMX.N: Quote, Profile, Research, Stock Buzz) and Microsoft Corp's (MSFT.O: Quote, Profile, Research, Stock Buzz) quarterly results.
The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR advanced 1.1 percent while the 30-share Dow Jones industrial average .DJI rose 0.2 percent to 12,876.15 near the close.
U.S. crude oil futures surged close to $120 a barrel on reports that a U.S.-contracted cargo ship fired warning shots at Iranian boats. Escalating Nigeria and U.K. supply snags added to the climb.
On the New York Mercantile Exchange, June crude CLM8 gained $2.46, or 2.1 percent, to settle at $118.52 a barrel. The record intraday high for U.S. oil futures was reached on Tuesday, when crude hit $119.90 a barrel.
Shares of BP traded in the United States rose 1.9 percent to $69.08 on the New York Stock Exchange, while A-class ADRs of Royal Dutch Shell gained 1.6 percent to $77.04 and its class B ADRs jumped 1.8 percent to $76.59.
Financial shares were also a standout following stronger-than-expected quarterly results from credit card and travel services company American Express Co (AXP.N: Quote, Profile, Research, Stock Buzz).
U.S.-traded shares of British lender Barclays PLC (BARC.L: Quote, Profile, Research, Stock Buzz) (BCS.N: Quote, Profile, Research, Stock Buzz) gained 3.1 percent to $37.78 on the NYSE, while those of South Korea's Kookmin Bank (060000.KS: Quote, Profile, Research, Stock Buzz)(KB.N: Quote, Profile, Research, Stock Buzz) rose 2.9 percent to $66.91 and those of India's ICICI Bank Ltd (ICBK.BO: Quote, Profile, Research, Stock Buzz)(IBN.N: Quote, Profile, Research, Stock Buzz) added 5.2 percent to $47.20.
But shares of America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz)(AMX.N: Quote, Profile, Research, Stock Buzz), one of Latin America's largest companies, suffered their biggest ever drop on Friday, wiping out $14 billion of the cell-phone operator's market value as weak earnings sent investors fleeing. Continued...




