Thursday, October 22, 2009

ADR Report-Foreign shrs dip; data suggest sluggish recovery

NEW YORK, Oct 20 (Reuters) - Overseas shares traded in the United States fell on Tuesday as oil retreated from a 12-month high after poor U.S. housing data suggested an anemic economic recovery, prompting investors to book profits.

New York-traded shares of Petroleo Brasil (Petrobras) (PBR.N) was down 3.5 percent at $49.58 while China Petroleum (SNP.N) lost 1.9 percent to $89.47. Bellwether Toyota (TM.N) also dipped 2.1 percent to $78.66.

U.S. crude CLc1 for November delivery fell 52 cents to settle at $79.09 a barrel after rising as high as $80.05, its highest since Oct. 14 of last year.

The Bank of New York Mellon index of leading American Depositary Receipts (ADRs) .BKADR fell 1 percent, while the benchmark S&P 500 index .SPX closed down 0.62 percent.

The Bank of New York Mellon index of leading Asian ADRs .BKAS fell 0.88 percent as Honda Motor Co (HMC.N) fell 1 percent to $30.47 and steelmaker POSCO (PKX.N) lost 2.4 percent to $115.23.

The Bank of New York Mellon index of leading European ADRs .BKEUR was down 0.81 percent. In Europe, shares retreated from one-year highs to end lower, with a sharp decline in Barclays (BARC.L) on a Qatari sale of its stake dragging down financials.

New York-traded shares of Barclays PLC (BCS.N) dipped 4.3 percent to $23.81 and Deutsche Bank (DB.N) fell 1.6 percent to $82.03.

Meanwhile, receipts with the Bank of New York Mellon index of leading Latin American ADRs .BKLA slid 2.81 percent. Stocks plunged in Brazil while Mexico stocks rebounded to positive territory in late trading.

Mexico wireless giant America Movil (AMXL.MX) weighed after the lower house finance committee approved a new tax on telecommunications services.

U.S. traded shares of America Movil (AMX.N) skidded 0.9 percent to $47.60.

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