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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
06/29/201622:19:00Rio Tinto Walks Away From Closed Bougainville Copper Mine
06/29/201603:01:00Savannah Resources, Rio Tinto Extend Joint Venture Deadline
06/22/201620:12:00Australia's Fortescue Deepens Debt Repayments -- Update
06/21/201618:39:00ADRs End Higher; UBS Rises
06/21/201604:50:00Rio Tinto Restructures Management Team
06/21/201603:58:00Rio Tinto Restructures Management Team, Iron Ore Chief to Leave
06/07/201608:45:00Rio Tinto to Purchase $3 Billion Worth of Notes
06/06/201603:45:00Australia Stocks Lifted by Miners After U.S. Dollar Drops
06/06/201601:00:00Shares Slip in Japan, Gain in Australia After U.S. Jobs Report
06/01/201617:25:00Rio Tinto Upbeat on Lithium, Says Serbia Project Strategically...
05/27/201603:41:00Australia Shares End Higher, Marking Seventh Week of Gains
05/24/201603:58:00Rio Tinto Appoints New Head of Technology and Innovation
05/24/201603:37:00Rio Tinto PLC Statement re senior management changes
05/17/201600:40:00High Oil Prices Help Sentiment in Asia-Pacific Markets
05/17/201600:03:00Asian Shares: High Oil Prices Help Sentiment in Asia-Pacific...
05/12/201600:30:00Asia Stocks Dented by Weaker U.S., Japan Earnings
05/11/201616:50:00Miner Faces Scrutiny for Payments in Africa
05/11/201611:36:00Global Mining, Metals M&A Activity Continues to Shrink
05/10/201618:00:00Rio Tinto et Indspire présentent leur programme de bourse de...
05/10/201618:00:00Rio Tinto and Indspire showcase $2 million award program for...

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