ADR Report-European banks lead advances

By Caroline Valetkevitch

NEW YORK, April 6 (Reuters) – U.S.-listed shares of
overseas companies rose on Wednesday, led by European banking
shares ahead of an anticipated interest rate hike by the
European Central Bank.

Some mining shares also gained as gold and silver prices
rose.

Credit Suisse Group (CS.N: Quote, Profile, Research) was up 3.2 percent at $44.02 in
New York, Banco Santander (STD.N: Quote, Profile, Research) of Spain as up 3.2 percent at
$12.09 and Banco Bilbao Vizcaya Argentaria (BBVA.N: Quote, Profile, Research), also of
Spain, was up 4.9 percent at $12.67.

Lloyd’s Banking Group (LYG.N: Quote, Profile, Research) gained 4.1 percent to $4.02
and Barclays Plc (BCS.N: Quote, Profile, Research) advanced 3.4 percent to $19.36.

Europe’s central bank is widely anticipated to raise its
benchmark rate by 25 basis points Thursday afternoon, its first
hike since July 2008, and follow that with other rate hikes
later in the year.

The financial firms are seen likely to benefit from higher
borrowing rates.

Shares of many miners edged up as gold (XAU=: Quote, Profile, Research) rose to an
all-time high for a second straight day. Silver (XAG=: Quote, Profile, Research) surged
to a 31-year high for a third consecutive day.

Shares of Goldcorp Inc (GG.N: Quote, Profile, Research) were up 1.5 percent at $52.92
while shares of South Africa’s Gold Fields Ltd (GFI.N: Quote, Profile, Research) were up
0.4 percent at $18.37.

Shares of other miners slipped, however, including Brazil’s
Vale (VALE.N: Quote, Profile, Research), the world’s biggest iron ore producer. Its
shares were down 1.8 percent at $33.63.

In the Brazilian market, trading in shares (VALE5.SA: Quote, Profile, Research) of
the mining giant continued to be high. The company this week
named a successor to outgoing chief executive Roger Agnelli.
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Materials companies in general are expected to show robust
earnings results for the first quarter because of sharply
higher commodity prices. The reporting period in the United
States is expected to start next week.

The BNY Mellon index of leading American Depositary
Receipts (ADRs) (.BKADR: Quote, Profile, Research) was up 0.5 percent while the U.S.
benchmark S&P 500 index (.SPX: Quote, Profile, Research) was up 0.2 percent.

The BNY Mellon index of leading Asian ADRs (.BKAS: Quote, Profile, Research) was down
0.1 percent, while the BNY Mellon index of leading European
ADRs (.BKEUR: Quote, Profile, Research) shot up 1.1 percent.

Receipts with the BNY Mellon index of leading Latin
American ADRs (.BKLA: Quote, Profile, Research) fell 0.8 percent.
(Editing by Padraic Cassidy)

ADR Report-European banks lead advances