ADR Report-Earnings, dollar rebound pressure foreign shares

NEW YORK, Oct 21 (BestGrowthStock) – Overseas shares traded in the
United States fell on Thursday after some weak quarterly
results and pressure from a rebound in the dollar.

U.S.-listed shares of Credit Suisse (CS.N: ) lost 5.3 percent
to $42.63 as its net profit tumbled, missing forecasts as
sluggish equities trading cut further into investment banking
profits. For details, see [ID:nLDE69K03R]

China Mobile (CHL.N: ) also reported lackluster results,
potentially setting a negative tone for rivals China Unicom
(CHU.N: ) and China Telecom (CHA.N: ), which are expected to post
flat profits next week. China Mobile was down 1.5 percent to
$52.45. [ID:nTOE69H07H]

The U.S. dollar rose in volatile trade as investors turned
cautious before a G20 finance ministers meeting this weekend. A
stronger greenback hurts ADRs as it makes them more expensive
to buy.

On the upside, Nokia (NOK.N: ) rose 4.2 percent to $11.28
after the handset maker reported stronger-than-expected profit
and said it would cut 1,800 jobs. [ID:nLDE69K1U8]

The BNY Mellon index of leading American Depositary
Receipts (ADRs) (.BKADR: ) fell 0.6 percent, while the broad S&P
500 index (.SPX: ) edged up 0.2 percent in volatile trade.

The BNY Mellon index of leading Asian ADRs (.BKAS: ) slipped
0.7 percent. Hong Kong shares ended higher in a late rally,
while Japan’s Nikkei edged down to its lowest close in three
weeks.

The BNY Mellon index of leading European ADRs (.BKEUR: ) was
off 0.4 percent, while European shares rallied to their highest
close in six months.

Receipts with the BNY Mellon index of leading Latin
American ADRs (.BKLA: ) lost 1.6 percent.

(Reporting by Leah Schnurr; Editing by Kenneth Barry)

ADR Report-Earnings, dollar rebound pressure foreign shares