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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
12/08/201615:10:00Asian Firms Pledge Loyalty to Paris Accord on Climate
12/07/201616:40:00Glencore, Qatar Buy Stake in Russian Oil Producer Rosneft
12/01/201603:30:00Rio Tinto Probed by SEC Over Mozambique Impairment
11/24/201600:20:00Rio Tinto Underspends Already-Low Forecast
11/24/201600:12:00Rio Tinto Cuts Capital Spending Budget, Deepens Productivity...
11/23/201617:54:00Rio Tinto Cuts Capital Spending Budget, Deepens Productivity...
11/23/201606:58:00Rio Tinto to Sell Scottish Aluminum Assets for $410 Million
11/17/201620:19:00Government of Guinea Raises Concerns Over Rio Tinto Consultant...
11/17/201617:20:00Probe Over Payments Led Rio Tinto to Fire Top Officials
11/17/201612:12:00Rio Tinto's West African Bet Comes Back to Haunt It--Update
11/16/201618:10:00Rio Tinto Terminates Executives Over Simandou Investigation
11/16/201616:45:00IMPORTANT SHAREHOLDER ALERT: Lundin Law PC Announces an Investigation...
11/16/201615:55:00EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities...
11/16/201613:17:00SHAREHOLDER ALERT: Goldberg Law PC Announces an Investigation...
11/16/201612:36:00SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces...
11/16/201612:20:00SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On...
11/08/201621:00:00Rio Tinto Executive Suspended Amid Payments Probe
11/08/201617:54:00Rio Tinto Alerts Authorities Over Simandou Emails
11/06/201621:27:00Rio Tinto Says Annual Diamonds Tender Gets Record Average Price
10/28/201606:45:00Rio Tinto to Sell Stake in Guinean Simando Project to Chinalco

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