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ADR REPORT-Shares follow global markets higher
October 15, 2012 / 5:45 PM / 5 years ago

ADR REPORT-Shares follow global markets higher

NEW YORK, Oct 15 (Reuters) - U.S.-listed shares of foreign companies rose on Monday, following global markets higher amid hopes debt-saddled Spain was close to asking for a bailout.

Japanese companies were mostly higher after mobile operator Softbank Corp said it will buy about 70 percent of Sprint Nextel Corp.

Sony rose 3 percent to $11.70, while Canon Inc gained 2 percent to $31.90.

Cemex gained nearly 1 percent after the Mexican cement maker posted a narrower third-quarter loss. Cemex was up 0.9 percent at $8.91.

Indian company Tata Motors fell after shares at its Jaguar Land Rover unit fell in September. Tata was down 2.5 percent at $24.98.

BP was modestly lower ahead of bidding that will open this week for the British oil major’s half of Russian oil company TNK-BP. BP’s shares slipped 0.6 percent to $41.59.

The BNY Mellon index of leading American depositary receipts rose 0.8 percent. The benchmark Standard & Poor’s 500 index gained 0.7 percent after stronger-than-expected Citigroup earnings and retail sales data.

Investors were also waiting for signs that Spain was ready to formally request a bailout. Sources told Reuters that Spain could ask for financial aid from the euro zone next month.

The BNY Mellon index of leading European ADRs rose 0.7 percent, while the FTSEurofirst 300 index of top shares ended up 0.5 percent.

The BNY Mellon index of leading Asian ADRs climbed 0.9 percent and the BNY Mellon index of leading Latin American ADRs was up 1 percent.

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