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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
08/29/201600:30:00Stocks in Asia Fall After Comments From Fed
08/19/201600:10:00Asian Shares Down, Though Higher Oil Prices Lift Energy Stocks
08/12/201603:43:00Rio Tinto Iron-Ore Chief Attacks Australian Lawmaker's Proposed...
08/11/201601:20:00Newmont Sees Dividends Rising, Provided Gold Prices Cooperate
08/11/201600:00:00Asian Shares Slide on Slumping Oil Prices
08/03/201605:10:00Rio Tinto Cuts Dividend as Weak Prices Take Toll
08/03/201602:56:00Rio Tinto 1st Half Net Profit More Than Doubles
08/02/201607:37:00Rio Tinto OKs $338 Million to Complete Silvergrass Iron Ore Mine...
08/01/201603:41:00Australia Stocks End Higher, Led by Commodity Shares
07/27/201603:32:00Australia Stocks Close Near Flat After Mixed Inflation Data
07/20/201603:05:00Business Watch -- WSJ
07/19/201619:00:00ADRs End Lower; Ericsson Falls
07/18/201619:28:00Rio Tinto's Quarterly Iron Ore Shipments Rise
07/14/201603:48:00Australia Stocks Rise for Sixth Straight Day, Near 2016 High
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

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