ADR Report-ADRs fall as AIG's loss hits financial sector hard

By Caroline Valetkevitch

NEW YORK, May 9 (Reuters) - U.S.-listed shares of overseas company fell on Friday, with financial companies pressured by a record loss at U.S. insurer AIG (AIG.N: Quote, Profile, Research).

The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR was down 1.1 percent while the 30-stock Dow Jones industrial average .DJI was down 0.8 percent.

American International Group, the world's largest insurer, reported dismal results that included write-downs in assets linked to subprime mortgages, which fueled concerns about financial services companies. Another negative element was provided by U.S.-based bank Citigroup Inc (C.N: Quote, Profile, Research), which said it plans to shed roughly $400 billion of non-core assets. For details, see [ID:nN08433220].

Shares of London-based Barclays Plc (BCS.N: Quote, Profile, Research) fell 2.8 percent to $35.17, while shares of Brazil's Banco Bradesco (BBD.N: Quote, Profile, Research) slid 0.8 percent to $22.59 and shares of Allied Irish Bank (AIB.N: Quote, Profile, Research) dropped 0.8 percent to $43.07.

Shares of Seoul-based Kookmin Bank (KB.N: Quote, Profile, Research) declined 0.7 percent to $62.18.

The Bank of New York Mellon's index of leading European ADRs .BKEUR was down 1.2 percent. The FTSEurofirst 300 index of top European shares fell 1.3 percent to 1,342.68.

The Bank of New York Mellon's index of leading Asian ADRs .BKAS dropped 0.9 percent. In Asia, shares ended mostly lower, with Japan's Nikkei .N225 falling 287.92 points, or 2.1 percent, to close at 13,655.34. In contrast, Australia defied the trend with its benchmark index gaining 0.9 percent due to demand for miners' and banks' shares.

The Bank of New York Mellon's index of leading Latin American ADRs .BKLA shed 0.8 percent. Mexico's benchmark IPC stock index .MXX was down 0.7 percent.

New York-listed shares of America Movil(AMX.N: Quote, Profile, Research), Latin America's biggest cell phone operator and the heaviest-weighted stock on the IPC index, gained 0.3 percent to $57.11. (Editing by Jan Paschal)