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ADR REPORT-Europe shares lead market lower for week
April 5, 2012 / 9:57 PM / 6 years ago

ADR REPORT-Europe shares lead market lower for week

NEW YORK, April 5 (Reuters) - U.S.-listed shares of foreign companies fell for a third straight day on Thursday to close their worst week so far in 2012 as investor concerns grew about the credit health of Spain and the euro zone.

Spanish benchmark yields rose again as the hangover from a weak debt auction earlier in the week stirred worries about the country’s ability to tackle its fiscal problems.

U.S.-traded shares of British banks were among the worst hit, with Lloyds Banking group down 4 percent to $1.93 and RBS off 3.4 percent to $8.01.

Spanish bank shares continued to fall with Banco Santander down 1.8 percent to $7.04 and BBVA down 1.5 percent to $7.29. Both banks fell more than 8 percent this week.

The BNY Mellon index of leading American depositary receipts dipped 0.31 percent Thursday for a weekly loss of 2.5 percent, its largest weekly drop since mid-December 2011.

In comparison, the S&P 500 index was near flat for the day but lost 0.7 percent this week.

U.S. equity markets are closed on Friday for the Good Friday holiday.

The BNY Mellon index of leading European ADRs fell 0.66 percent Thursday and the FTSEurofirst 300 index of top shares closed up 0.12 percent helped by a late rebound in mining shares.

The BNY Mellon index of leading Asian ADRs added 0.32 percent led by a 0.81 percent gain in Chinese ADRs.

The BNY Mellon index of leading Latin American ADRs edged down less than 0.1 percent.

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