ADR Report-ADRs sink; China worries weigh on energy shares

By Caroline Valetkevitch

NEW YORK, Nov 16 (BestGrowthStock) – U.S.-listed shares of overseas
companies fell more than 2 percent on Tuesday, with worries
about inflation in China weighing heavily on energy and
commodity-related shares.

Also dragging ADRs, European officials weighed a rescue
package for Ireland, adding to worries about the euro zone debt
crisis.

Shares of PetroChina (PTR.N: ) slid 3.7 percent to $124.47 in
New York, while Brazil’s Petrobras (PBR.N: ) dropped 3.3 percent
to $32.58.

Emerging market exchange-traded funds declined, with the
iShares MSCI Emerging Markets Index Fund (EEM.P: ) down 2.5
percent. For details, see [ID:nWEN3082]

IShares MSCI Brazil ETF (EWZ.P: ) was off 3 percent, while
the iShares MSCI Mexico index fund (EWW.P: ) was down 1.4
percent.

Shares in China sank 4 percent to a one-month low on
reports the country will unveil food price controls and crack
down on commodity speculation to contain inflationary pressure.
[ID:nL3E6MG081]

On the New York Mercantile Exchange, December crude (CLZ0: )
fell 2.5 percent to $82.75.

The BNY Mellon index of leading American Depositary
Receipts (ADRs) (.BKADR: ) dropped 2.3 percent, while the U.S.
benchmark S&P 500 index (.SPX: ) fell 1.6 percent.

The BNY Mellon index of leading Asian ADRs (.BKAS: ) declined
2.1 percent, while its index of leading European ADRs (.BKEUR: )
was down 2.3 percent.

Among bank shares, Lloyds Banking Group Plc (LYG.N: ) fell
4.5 percent to $4.20.

Receipts with the BNY Mellon index of leading Latin
American ADRs (.BKLA: ) sank 2.7 percent.
(Editing by Jeffrey Benkoe)

ADR Report-ADRs sink; China worries weigh on energy shares