December 12, 2012 / 10:26 PM / 5 years ago

ADR REPORT-Foreign shares edge up after Fed launches stimulus

NEW YORK, Dec 12 (Reuters) - U.S.-listed shares of foreign companies edged up on Wednesday, taking their cue from Wall Street after the Federal Reserve announced a new round of stimulus, but repeated a warning that monetary policy alone will not be enough to offset the “fiscal cliff.”

Federal Reserve Chairman Ben Bernanke’s comments on the set of tax hikes and spending cuts that are set to go into effect in the new year without a budget deal weighed on U.S. equities, undoing the initial boost from the new round of bond purchases.

The BNY Mellon index of leading American depositary receipts rose 0.3 percent, while the Standard & Poor’s 500 ended little changed.

In Japan, shares of exporters rose as speculation a likely new government would pressure the central bank to take bolder policy weighed on the yen, benefiting exporters.

U.S.-listed shares of Honda Motor rose 1.6 percent to $33.57, while Canon Inc gained 1.2 percent to $37.66.

Among individual stocks, PetroChina rose after it said it has bought a minority stake in an Australian liquefied natural gas project. The stock was up 0.6 percent at $138.75.

The BNY Mellon index of leading Asian ADRs rose 0.5 percent.

The BNY Mellon index of leading European ADRs added 0.3 percent, while the BNY Mellon index of leading Latin American ADRs edged up 0.2 percent.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below