Energy companies, miners weigh on ADRs :ADR Report

U.S.-listed shares of overseas companies fell on Tuesday, as lower oil and mixed metals prices weighed on energy companies and miners.

The Bank of New York's index of leading American Depository Receipts (ADRs) (.BKADR: Quote, Profile, Research) fell 0.72 percent while the 30-share Dow Jones industrial average (.DJI: Quote, Profile, Research) slipped 0.34 percent at midday. U.S. stocks fell as oil prices' drop below $80 a barrel hurt energy shares.

The Bank of New York's index of leading European ADRs (.BKEUR: Quote, Profile, Research) was down 1.04 percent, while the FTSEurofirst 300 index (.FTEU3: Quote, Profile, Research) closed up 0.32 percent. European stocks rose to a ten-week high as banks rallied on hopes the worst of the credit crunch might be behind, but a drop in energy shares kept gains in check. [.EU]

ADRs of major oil companies took a hit as U.S. crude prices (Clc1: Quote, Profile, Research) deepened losses to below $80 a barrel.

Royal Dutch Shell (RDSa.N: Quote, Profile, Research) fell 2.9 percent to $80.98, Total (TOT.N: Quote, Profile, Research) dropped 2.7 percent to $78.83 and BP (BP.N: Quote, Profile, Research) was down 1.7 percent at $68.43.

ADRs of integrated aluminum producer Norsk Hydro (NHY.N: Quote, Profile, Research) fell 4.7 percent to $41.98, and Australian miner BHP Billiton (BHP.N: Quote, Profile, Research) shares fell 3.9 percent to $78.72.

Receipts with the Bank of New York's index of leading Latin American ADRs (.BKLA: Quote, Profile, Research) fell 1.2 percent. In Latin America, major benchmarks fell, including Brazil's Petrobas (PBR.N: Quote, Profile, Research) and iron ore mining company CVRD. (RIO.N: Quote, Profile, Research)

Petrobas ADRs fell 1.8 percent to $76.70 and CVRD dropped 3 percent to $35.06.
But Asia bucked the trend, with the Bank of New York's index of leading Asian ADRs (.BKAS: Quote, Profile, Research) up 0.40 percent. The MSCI's Asia-Pacific ex-Japan (.MIAPJOOOOPUS: Quote, Profile, Research) hit record peaks on hopes the worst of the credit squeeze may be over.

Japan's Nikkei average rose 1.2 percent on Tuesday, closing above 17,000 for the first time in nearly eight weeks as Sony Corp (6758.T: Quote, Profile, Research) gained after saying its financial unit had set its IPO price at the top end of its tentative range.

ADRs of Sony (SNE.N: Quote, Profile, Research) rose 3.8 percent to $51.25. China Mobile's ADRs (CHL.N: Quote, Profile, Research) rose 1.6 percent to $86.31.

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