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ADR REPORT: Shares Rise on Spanish Debt Sale, Stimulus Hopes

By Mia Lamar International companies trading in New York closed sharply higher Tuesday after bond yields in crisis-hit Spain and Italy eased and investors anticipated signals of support from a Federal Reserve policy meeting Wednesday. The Bank of New York index of ADRs rose 2.1% to 118.59 as financial stocks landed solidly in the green, reversing Monday's declines. Good demand in Spain's auction of 12- and 18-month Treasury bills encouraged investors. The yield on the 10-year government bond fell just below the critical 7%, well off the euro-era high of 7.17% reached Monday. Spanish bank shares ended the New York session markedly higher. Banco Bilbao Vizcaya Argentaria (BBVA, BBVA.MC) gained 3.5% to $6.53 while Banco Santander (SAN, SAN.MC) rose 3.2% to $6.06. The European index jumped 2.2% to 109.56. Elsewhere in the region, shares of Dutch life insurance and pension company Aegon NV (AEG, AGN.AE) climbed 5% to end at $4.46. Chief Executive Alex Wynaendts told Dow Jones Newswires Tuesday the company plans to reduce its exposure to Spain and exit some joint-ventures there on expectations that the country's economy could struggle for years to come. The Asian index rose 1.2% to 117.43 as resource stocks ended higher on gains in metals markets. Copper climbed 1.1% Tuesday on hopes of new economic stimulus from the Federal Reserve that could be a boon for copper prices. Australia's Rio Tinto Plc (RIO, RIO.AU)--a major copper miner--jumped 2.5% to $48.05. The Latin American index rose 3.3% to 320.44 while the emerging markets index jumped 2.2% to 273.35. South America's major banks drew strength from their peers overseas, leaving Argentina's Banco Macro SA (BMA, BMA.BA) to end 3.9% higher at $12.47 and Brazil's Itau Unibanco Holding (ITUB, ITUB3.BR) to jump 3.7% to $15.06. -Write to Mia Lamar at mia.lamar@dowjones.com

Stock News for Companhia Vale (RIO)
DateTimeHeadline
07/01/201516:38:27Rio Tinto CEO Sam Walsh Responds to Critics of Iron-Ore Production
06/29/201504:07:07Australia Shares End 2.2% Lower on Greece Worries
06/22/201505:40:48Savannah Resources Shares Surge on Mozambique JV with Rio Tinto...
06/22/201503:24:06Savannah Resources, Rio Tinto to Create Mineral Sands JV in Mozambique
06/21/201519:29:51ERA Chairman, Directors Quit in Dispute with Rio Tinto
06/20/201516:08:03Is China Going to Use the Mining Downturn to Take Over the Industry?
06/19/201514:07:02You Can See the Next Boom Brewing in BHP Billiton and Rio Tinto's...
06/18/201514:00:093 Stocks to Watch in Copper
06/15/201512:06:02How Drones Are Making Rio Tinto a Better Miner
06/12/201503:56:32Australia Shares End Down 0.2% on Falling Commodities Prices...
06/11/201519:19:06Rio Tinto Refinances US$1.2 Billion of Debt
06/11/201514:00:07Rio Tinto Assessing Potential Noncash Impairment Of $300 Million--Update
06/11/201513:56:48Rio Tinto Assessing Potential Noncash Impairment Of $300 Million
06/10/201514:02:02Thrifty Miners Killed Caterpillar and Joy Global's Sales: Are...
06/09/201503:10:50Australia Shares Post Sixth Straight Fall
06/05/201503:43:20Australia Shares Suffer Worst Week in Three Years
06/04/201506:50:15Glencore May Cut Coal Output Further to Combat Glut
06/04/201503:17:18Australia Shares End Down 1.4%, Extending Gloomy Week
06/02/201503:33:15Australia Shares End Down 1.7% After Absence of Central Bank...
05/25/201503:51:11Australia Shares Start Week With Solid Gains

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