ADR Traders: Overseas shares traded in the
United States rose but were off session highs on Friday after
the U.S. Congress passed a $700 billion rescue of the financial
system.
The Bank of New York Mellon's index of leading American
Depositary Receipts (ADRs) .BKADR rose 2.4 percent while the
Dow Jones industrial average .DJI gained 0.8 percent.
ADR Traders: Overseas shares traded in the
United States rose but were off session highs on Friday after
the U.S. Congress passed a $700 billion rescue of the financial
system.
The Bank of New York Mellon's index of leading American
Depositary Receipts (ADRs) .BKADR rose 2.4 percent while the
Dow Jones industrial average .DJI gained 0.8 percent.
The ADR index was up more than 3.5 percent and the Dow
climbed as high as 314 points earlier in the session.
"The key thing in the next few hours will be if there is
real money from the sidelines coming into the (stock) market.
The credit markets and their performance will determine the
action in equities," said Michael James, senior trader at
Wedbush Morgan in Los Angeles.
For the week, the leading ADR index fell 8.7 percent.
ADRs of China Mobile (CHL.N: Quote, Profile, Research, Stock Buzz) rose 1 percent and BHP
Billiton Plc (BBL.N: Quote, Profile, Research, Stock Buzz) gained 7.9 percent, both on the New York
Stock Exchange.
The Bank of New York Mellon's index of leading European
ADRs .BKEUR was up 3 percent. In Europe, shares ended higher
on expectation of a positive U.S. bailout vote.
The FTSEurofirst 300 index of top European shares
closed 3 percent higher at 1,089.38 points.
The Bank of New York Mellon's index of leading Asian ADRs
.BKAS rose 1.9 percent. Overnight in Asia, shares ended lower
after U.S. data on Thursday showed manufacturing activity
slowed more than expected.
Receipts with the Bank of New York Mellon's index of
leading Latin American ADRs .BKLA fell 1.46 percent after the
bailout vote caused U.S. stock indexes to pare gains. The ADRs
had risen earlier in the session.Juan Munoz
What to do:
Create a list of interesting stocks that have been going down recently. Take three or four and select the stock with higher dividend and the lowest price/earnings. Invest now before the marketing start correcting itself.
Gracias.
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