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ADR REPORT-Euro zone worries hit foreign shares
May 30, 2012 / 5:53 PM / 6 years ago

ADR REPORT-Euro zone worries hit foreign shares

NEW YORK, May 30 (Reuters) - U.S.-listed shares of foreign companies fell sharply on Wednesday on worries that Spain’s economic and banking crisis may be deepening and on fears that Greece may fall out of the euro zone.

The BNY Mellon index of leading American depositary receipts fell 2 percent, while the Standard & Poor’s 500 index lost 1.3 percent.

The BNY Mellon index of leading European ADRs lost 2.1 percent. In Europe, Spain’s Ibex 35 index fell 2.6 percent to a fresh 9-year low as investors worried that soaring borrowing costs may force the country, engaged in an expensive recapitalization of its banking sector, to seek an international bailout.

U.S.-listed shares of European banks tumbled including Credit Suisse, down 1.7 percent to $19.41 and Deutsche Bank, down 2.3 percent at $35.81.

New York-traded shares of the National Bank of Greece were down 4.6 percent at $1.45 and the Royal Bank of Scotland fell 4.6 percent to $6.21.

The BNY Mellon index of leading Asian ADRs lost 2 percent. In Asia, Japan’s Nikkei average ended a four-session winning run, weighed by exporters as the yen firmed on mounting concerns over Spain’s banking system.

U.S.-listed shares of Toyota Motor were off 0.6 percent to $76.57 and Canon Inc fell 1.4 percent to $40.49.

The BNY Mellon index of leading Latin American ADRs lost 2 percent.

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