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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
07/11/201407:39:29EUROPE MARKETS: European Stock Markets Climb After Five-day Selloff
07/11/201405:15:08EUROPE MARKETS: European Stock Markets Rebound After Five-day...
07/10/201412:09:09EUROPE MARKETS: European Stocks Stumble To 2-month Low On Portugal...
07/10/201407:51:32EUROPE MARKETS: European Stocks Stumble To Two-month Low On Portugal...
07/10/201407:09:08EUROPE MARKETS: European Stocks Stumble To Two-month Low
07/10/201405:39:40EUROPE MARKETS: European Stocks At Two-month Low After Weak Data
07/10/201405:06:47EUROPE MARKETS: European Stocks Slide For Fifth Straight Day
07/10/201403:54:28EUROPE MARKETS: European Stocks Weaken For Fifth Straight Day
07/09/201420:15:12Weaker Iron-Ore Outlook to Curb BHP, Rio Earnings: UBS -- Market...
07/07/201403:33:28Australia Shares Little Changed After Last Week's Jump
07/01/201412:19:30EUROPE MARKETS: BNP Pops Higher In Europe; Pound Rises To 2008...
07/01/201410:18:41EUROPE MARKETS: BNP Up In Europe After Settlement; Pound At 5-year...
07/01/201405:05:10EUROPE MARKETS: BNP Rises In European Trade After Settlement
06/26/201416:40:30Tax Dispute Threatens to Delay Mongolian Copper Mine--Update
06/26/201407:54:03Rio Tinto's Turquoise Hill Challenges Mongolian Tax Claims
06/26/201405:50:43Karelian Diamond Extends Confidentiality Agreement with Rio Tinto
06/25/201405:44:11Reabold Resources Investing Policy Implemented, Trading Restored
06/23/201412:33:15LONDON MARKETS: U.K. Housing Stocks Sag On Mortgage Concerns
06/23/201412:17:16EUROPE MARKETS: European Stocks Fall As U.K. Housing Plays Struggle
06/23/201409:06:50LONDON MARKETS: U.K. Housing Stocks Sag On Mortgage-rule Concerns

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