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  • Jan 18th, 2010
  • Comments Off on American Depository Receipts fall with bank shares
US-traded shares of overseas companies fell on Friday, with bank shares among those leading declines after J. P Morgan Chase & Co reported steep loan losses. The Bank of New York Mellon index of leading American Depository Receipts (ADRs) fell 1.5 percent while the US benchmark S&P 500 index declined 1.1 percent.

US-listed shares of Brazil's Banco Bradesco were down 1.6 percent at $20.65, while shares of Germany's Deutsche Bank AG were down 4.9 percent at $69.73.

J. PMorgan also was a drag on major US stock market indexes as investors worried about upcoming bank results. Major financial companies including Goldman Sachs and Bank of America are scheduled to report earnings next week. The Bank of New York Mellon index of leading Asian ADRs slipped 0.7 percent. In Japan, the Nikkei rose 0.7 percent or 74.42 points to 10,982.10, a 15-month closing high.

The Bank of New York Mellon index of leading European ADRs dropped 1.8 percent. In Europe, the FTSEurofirst 300 index of top shares closed down 1.1 percent at 1,052.24 points. Receipts with the Bank of New York Mellon index of leading Latin American ADRs declined 1.3 percent. In Latin America, major benchmarks were mostly lower, with Brazil's benchmark Bovespa down 1.2 percent.

Copyright Reuters, 2010


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