ADR Report-ADRs rise; BP, bank shares among gainers

By Caroline Valetkevitch

NEW YORK, May 27 (BestGrowthStock) – U.S.-listed shares of overseas
companies rose sharply on Thursday, with BP Plc (BP.N: ) rising
as the company said it was making progress toward plugging its
ruptured Gulf of Mexico oil well.

The Bank of New York Mellon index of leading American
Depositary Receipts (ADRs) (.BKADR: ) was up 5.5 percent while
the U.S. benchmark S&P 500 index (.SPX: ) was up 3.3 percent.

BP shares surged 7 percent to $45.38 in New York. For
details, see [ID:nN26238003]

Shares of banks, which have been hit hard by the European
debt crisis, also gained after China denied a report it would
review its euro zone bond holdings.

HSBC Holdings (HBC.N: ) jumped 4.8 percent to $46.48, while
shares of Spain’s Banco Santander (STD.N: ) gained 5.6 percent to
$10.43 and National Bank of Greece (NBG.N: ) rose 6.7 percent at
$2.54.

The Bank of New York Mellon index of leading Asian ADRs
(.BKAS: ) rose 4.6 percent.

New York traded shares of Japan’s Mizuho Financial Group
(MFG.N: ) advanced 3.1 percent to $3.68.

The Bank of New York Mellon index of leading European ADRs
(.BKEUR: ) was up 5.8 percent, while shares of its leading Latin
American ADRs (.BKLA: ) were up 5.5 percent.

In Latin America, major benchmarks mostly higher, with
Brazil’s benchmark Bovespa stock index (.BVSP: ) gaining 3.2
percent.

Investing Tools

(Editing by Leslie Adler)

ADR Report-ADRs rise; BP, bank shares among gainers