ADR Report-Foreign shares dip, weighed by Toyota recall

NEW YORK, Jan 28 (BestGrowthStock) – Overseas shares traded in the
United States fell on Thursday, weighed down by Toyota Motor
for a second consecutive session after the automaker announced
a recall of millions of vehicles due to faulty accelerator
pedals.

The Bank of New York Mellon index of leading American
Depositary Receipts (ADRs) (.BKADR: ) closed down 1.5 percent,
with New-York traded shares of Asian companies down 1 percent.

Toyota Motor (TM.N: ) ended 2.7 percent lower at $77.65. In a
further blow to its reputation, the world’s largest automaker
extended its safety recall to Europe and China on Thursday. For
details, see [ID:nSGE60R06P]

Japan’s Mizuho Financial Group (MFG.N: ) also dipped 5.3
percent at $3.90 and Canon Inc (CAJ.N: ) closed 1.4 percent lower
at $40.30.

Asian stocks fell for the ninth straight day on fears that
China’s heightened efforts to rein in credit could hamper the
global economic recovery.

Among Chinese ADRs, China Petroleum (SNP.N: ) fell 1.1
percent to $78.58 and China Mobile (CHL.N: ) dipped 0.6 percent
to $47.27.

The U.S. benchmark S&P 500 index (.SPX: ) ended 1.2 percent
lower.

The Bank of New York Mellon index of leading European ADRs
(.BKEUR: ) fell 1.8 percent, led by declines in banks and
drugmakers.

Barclays PLC (BCS.N: ) fell 2.5 percent to $17.31, and Credit
Suisse ended down (CS.N: ) 1.8 percent at $44.46.

Among drugmakers, Amarin Corp (AMRN.O: ) dipped 22.5 percent
to $1.14 and AstraZeneca (AZN.N: ) was down 5.4 percent at
$46.96.

The pan-European FTSEurofirst 300 (.FTEU3: ) index of top
shares closed down 1.2 percent, hitting their lowest closing in
seven weeks, on concerns over Greece fiscal health.

Receipts with the Bank of New York Mellon index of leading
Latin American ADRs (.BKLA: ) closed down 0.2 percent.

Stock Market Money

(Reporting by Angela Moon, Editing by Kenneth Barry)

ADR Report-Foreign shares dip, weighed by Toyota recall