ADR Report-ADRs flat as commodity stocks offset banks

* Commodity stocks down on fears of possible China moves

* European bank shares rise

* BKNY Mellon index of leading ADRs falls 0.1 pct

NEW YORK, April 15 (BestGrowthStock) – Overseas shares traded in
the United States edged lower on Thursday as fears Beijing may
try to cool China’s economy (Read more about the fastest growing economy.) dampened commodity stocks,
offsetting strength in European banks.

Oil and copper prices eased, pressured by a stronger dollar
and concerns China might tighten monetary policy to prevent its
economy from overheating. That hit shares in miners and some
energy companies, such as Brazil’s Vale (VALE.N: ).

European shares were buoyed by the banking sector, which
extended their rally a day after strong results from JPMorgan
Chase & Co (JPM.N: ) . HSBC (HBC.N: ) rose 2.4 percent to $55.12,
while Barclays (BCS.N: ) added 1.7 percent to $23.77.

The Bank of New York Mellon index of leading American
Depositary Receipts (ADRs) (.BKADR: ) fell 0.1 percent while the
U.S. benchmark S&P 500 index (.SPX: ) added 0.2 percent.

An upbeat profit forecast from United Parcel Service
(UPS.N: ) lifted transportation shares and helped the wider
market in New York.

Hungarian telecom company Magyar Telekom (MTA.N: ) fell 2.3
percent to $20.98 in New York after Nomura Securities
downgraded the stock from “neutral” to “reduce,” saying it was
relatively expensive in an increasingly extended market.

The Bank of New York Mellon index of leading European ADRs
(.BKEUR: ) rose 0.2 percent. In Europe, the FTSEurofirst 300
(.FTEU3: ) index of top shares ended 0.6 percent higher.

Shares of Infosys Technologies (INFY.O: ) fell 0.1 percent to
$67.73, after hitting an all-time high earlier after India’s
No. 2 software services exporter issued a strong sales forecast
that indicated healthy demand.

Some analysts cautioned the share gains in Infosys were
unlikely to be sustained as a stronger rupee and rising wages
threaten margins. [ID:nSGE63E05V]

The Bank of New York Mellon index of leading Asian ADRs
(.BKAS: ) fell 0.2 percent. Shares rose in Asia, with stocks in
Seoul hitting a 22-month high. Taiwan stocks hit their highest
levels in 12 weeks.

Latin America’s commodity-linked stocks dragged in New
York. Vale SA (VALE.N: ), the world’s largest iron ore producer,
fell 0.1 percent to $34.30.

Receipts with the Bank of New York Mellon index of leading
Latin American ADRs (.BKLA: ) fell 0.5 percent. In Latin America,
major benchmarks were higher.

Mexico’s IPC stock index (.MXX: ) rose 0.22 percent to 34,189,
its highest ever.

Stock Basics
(Reporting by Edward Krudy; Editing by Leslie Adler)

ADR Report-ADRs flat as commodity stocks offset banks