ADR Report-Energy shares, U.S. data boost ADRs
By Steven C. Johnson
NEW YORK, Aug 27 (Reuters) - Overseas shares traded in the United States rose on Wednesday as strong U.S. data on durable goods orders helped sooth growth concerns while energy and natural resource companies gained with rising oil prices.
Offshore Chinese oil producer CNOOC (CEO.N) added 5.6 percent in U.S. trade as oil prices rose for a third straight day CLc1. Energy companies on Wednesday started evacuating staff from offshore rigs as Tropical Storm Gustav approached the U.S. Gulf of Mexico.
New York-traded shares of Britain's Barclays LLC (BCS.N) and Ireland's Allied Irish Bank (AIB.N) rose more than 1 percent each.
The Bank of New York Mellon's index of leading American Depository Receipts (ADRs) .BKADR rose 1 percent, while the 30-share Dow Jones industrial average .DJI added 0.4 percent.
The Bank of New York's Mellon's index of leading European ADRs .BKEUR rose 1 percent, while the FTSEurofirst 300 .FTEU3 index of top European shares edged up 0.2 percent.
European stock markets reversed earlier losses on Wednesday after U.S. data showed a strong rise in big-ticket durable goods orders in July.
Commodity stocks gained, with U.S.-traded shares of BP (BP.N) gaining 1.6 percent to $57.78 on the New York Stock Exchange.
The Bank of New York Mellon's index of leading Latin American ADRs .BKLA rose 1.5 percent, led by energy shares. Brazilian oil giant Petrobras (PZE.N) rose 2.6 percent to $11.39 on the NYSE. Brazil's Bovespa index .BVSP had added 0.6 percent by late morning.
Higher energy prices weighed on Asian shares, though. The Bank of New York Mellon's index of leading Asian ADRs .BKAS rose a more modest 0.3 percent. U.S.-traded shares of Toyota Motor (TM.N) and Honda Motor Co (HMC.N) both shed about 2 percent on the NYSE.
Japan's Nikkei share average .N225 ended down 0.2 percent while Hong Kong's Hang Seng index .HSI rose 0.7 percent, boosted by China Life Insurance (2628.HK), which posted a smaller-than-expected decline in first-half profits. (Editing by Leslie Adler)
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