ADR Report-ADRs declines as euro zone worries rise again

By Caroline Valetkevitch

NEW YORK, Dec 15 (BestGrowthStock) – U.S.-listed shares of overseas
companies edged lower on Wednesday, with Spanish ADRs losing
ground as Moody’s put the country on review for a possible
downgrade.

The ratings agency news fanned worries about the debt
crisis in the euro zone, with shares of Spain’s Banco Santander
(STD.N: ) down 1.1 percent at $11.02, while shares of Telefonica
(TEF.N: ) fell 0.6 percent to $69.31.

The ratings agency said it did not expect Madrid to have to
resort to a European Union bailout as Greece and Ireland have,
but its move worried investors just the same.

Among other euro zone shares, ADRs of Portugal Telecom
(PT.N: ) dropped 2.2 percent to $13.32.

The BNY Mellon index of leading American Depositary
Receipts (.BKADR: ) was down 0.2 percent while the U.S. benchmark
S&P 500 index (.SPX: ) was up 0.1 percent.

The BNY Mellon index of leading Asian ADRs (.BKAS: ) slipped
0.3 percent, while the BNY Mellon index of leading European
ADRs (.BKEUR: ) was down 0.2 percent.

Receipts with the BNY Mellon index of leading Latin
American ADRs (.BKLA: ) fell 0.6 percent.

For the region, ADRs of commodity-related companies
declined, with Brazil’s Petrobras (PBR.N: ) down 1.4 percent at
$33.58 while ADRs of mining company Vale (VALE.N: ), also based
in Brazil, were down 0.9 percent at $34.22.
(Editing by Neil Stempleman)

ADR Report-ADRs declines as euro zone worries rise again