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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
09/29/201412:51:49LONDON MARKETS: Mining Stocks Slump In London On China Worries
09/29/201404:20:33LONDON MARKETS: Mining Stocks Hurt On FTSE 100 On China Worries
09/26/201409:00:07U.S. Stock Futures Higher
09/25/201412:37:33LONDON MARKETS: FTSE 100 Slides After Carney Hints Rate Hike...
09/25/201412:03:03EUROPE MARKETS: H&M Slides; Cairn Energy Rises: Europe's Big...
09/24/201412:27:08EUROPE MARKETS: TNT Express Slumps; Rio Tinto Climbs: Europe's...
09/24/201412:26:46LONDON MARKETS: Rio Tinto, Vodafone Lift FTSE 100 For First Day...
09/24/201408:07:21LONDON MARKETS: Rio Tinto Bucks Downbeat Mood In London After...
09/24/201405:01:52EUROPE MARKETS: TNT Express Slumps; Rio Tinto Climbs: Europe's...
09/23/201404:11:13Australian Shares Recover as Chinese Helps Ease Growth Worries
09/23/201401:30:35Asian Shares Mixed, Australia Gains
09/23/201401:17:32Correction to Asian Shares Story
09/23/201401:02:08Asian Shares Mixed, Austrailia Gains -- Update
09/22/201418:39:55ADR Shares End Lower; Mechel Shares Trade Actively
09/22/201412:13:15EUROPE MARKETS: European Mining Stocks Hurt By China Growth Worries
09/22/201411:33:20Rio Tinto Raises Cost Of Oyu Tolgoi Underground Mine Expansion-Update
09/22/201411:31:16Correction to Rio Tinto Reduces Cost Of Oyu Tolgoi Expansion...
09/22/201410:12:38Rio Tinto Reduces Cost Of Oyu Tolgoi Underground Mine Expansion
09/18/201418:31:58EUROPE MARKETS: Banks Climb After TLTRO, Siemens Slips: Europe's...
09/18/201418:31:57LONDON MARKETS: FTSE 100 Rises As Scots Head To The Polls

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