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ADR Report-ADRs rise with energy, mining companies

Fri May 29, 2009 10:04pm IST
 
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By Caroline Valetkevitch

NEW YORK, May 29 (Reuters) - U.S.-listed shares of overseas companies rose on Friday, with higher oil and gold prices driving up shares of energy companies and miners.

The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) traded up 0.6 percent while the U.S. benchmark S&P 500 index .SPX was nearly flat.

Crude oil prices jumped on economic data and a slumping dollar, adding to bullish momentum after this week's oil inventory reports showed crude supplies down and after OPEC kept its output steady. U.S. crude CLc1 was last up $1.09 at $66.17 a barrel.

Shares of BP Plc (BP.N: Quote, Profile, Research) were up 1.5 percent at $49.56 in New York.

U.S. gold futures GCQ9 rose above $980 an ounce to a fresh three-month high as risk appetite hurt the dollar.

Shares of South African miner Gold Fields Ltd (GFI.N: Quote, Profile, Research) were up 3.8 percent at $13.58.

The Bank of New York Mellon's index of leading Asian ADRs rose 0.3 percent.

The Bank of New York Mellon's index of leading European ADRs gained 1 percent.

Receipts with the Bank of New York Mellon's index of leading Latin American ADRs edged up 0.9 percent. (Reporting by Caroline Valetkevitch)

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