ADR Report-Stronger-than-expected economic data boosts ADRs
NEW YORK, April 30 (Reuters) -U.S. listed shares of overseas companies rose on Wednesday, ahead of a U.S. interest rate decision, helped by some stronger-than-expected U.S. economic data.
Gross domestic product, the government's broadest measure of economic activity within U.S. borders, beat economists' expectations for the first quarter, and a survey by ADP Employer Services showed employers unexpectedly added 10,000 jobs in April. The Federal Reserve's interest rate decision is due at about 2.15 p.m. (1815 GMT).
The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR was up 0.8 percent while the 30-share Dow Jones industrial average .DJI was up 0.7 percent.
The Bank of New York Mellon's index of leading European ADRs .BKEUR rose 0.7 percent. In Europe, shares ended higher, helping them score their best monthly gain in 4-1/2 years.
ADRs of German engineer Siemens (SIEGn.DE) (SI.N) rose 3 percent to $117.78 after Chief Executive Peter Loescher said he was guardedly optimistic about the second half of 2008.
The Bank of New York Mellon's index of leading Asian ADRs .BKAS was up 0.9 percent. In Asia, shares ended mixed.
ADRs of Matsushita Electric Industrial Co (6752.T) MC.N, the maker of Panasonic electronics, jumped 8.2 percent to $23.58 as earnings growth led by flat-screen TVs mitigated worries a firmer yen and higher raw materials prices could take a toll on performance.
Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) (TSM.N) ADRs rose 3.9 percent to $11.25 after the company said its first-quarter net profit rose a better-than-expected 49 percent.
Receipts with the Bank of New York Mellon's index of leading Latin American ADRs .BKLA rose 1 percent. In Latin America, major benchmarks were higher.
Mexico's Cemex (CMXCPO.MX) (CX.N), the biggest cement maker in the United States, rose 2.2 percent to $27.90 on optimism about the U.S. economy.
Brazilian miner Vale (VALE5.SA) RIO.N rose 1.2 percent to $37.26 as metals prices climbed. (Editing by Leslie Adler)
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