ADR Report-UBS leads banks higher; Vodafone jumps 5 pct

By Ellis Mnyandu

NEW YORK, May 22 (Reuters) - U.S.-listed shares of overseas companies rose on Thursday, helped by a bounce in financial shares as investors welcomed a plan by UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz) (UBSN.VX: Quote, Profile, Research, Stock Buzz)(UBS.N: Quote, Profile, Research, Stock Buzz) to bolster its balance sheet.

The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR gained 1.1 percent, while the 30-share Dow Jones industrial average .DJI climbed 0.3 percent, or 41.34 points, at 12,638.40.

U.S.-listed shares of Britain's Vodafone Group (VOD.L: Quote, Profile, Research, Stock Buzz) jumped 5.2 percent to $32.42 as investors bet on strong results next week from the telecommunications company.

A pullback in crude oil prices, which earlier in the day hit a record $135.09, added to the positive tone, a day after concerns about inflation and the impact of soaring energy costs on consumers and businesses hit global equity markets.

UBS, a Swiss bank, on Thursday launched a deeply discounted share offering worth $15.55 billion. Analysts said the step may help the European bank hit hardest by the subprime crisis to put the crisis behind it. For details, see [ID:nL22461731]

U.S.-listed shares of UBS climbed 1.7 percent to $29.83 on the New York Stock Exchange. Shares of Britain's Barclays PLC (BARC.L: Quote, Profile, Research, Stock Buzz)(BCS.N: Quote, Profile, Research, Stock Buzz) gained 1.2 percent to $31.28, also on the NYSE.

Other financial shares gaining included ADRs of Japan's biggest brokerage, Nomura (8604.T: Quote, Profile, Research, Stock Buzz), which jumped 3 percent to $16.97 on the NYSE.

The Bank of New York Mellon's index of leading European ADRs .BKEUR climbed 0.9 percent. In Europe, shares ended higher, lifted by telecom stocks and miners, while German banks gained on consolidation talk and a dip in the price of crude took energy stocks lower.