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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
09/17/201417:09:44LONDON MARKETS: FTSE Inches Higher With Eyes On Scotland, Labor...
09/17/201405:03:18LONDON MARKETS: Miners Lift FTSE 100; Eyes On Scotland, Central...
09/15/201409:21:18Correction to China Mining Story on Sept. 11
09/12/201415:21:16LONDON MARKETS: FTSE 100 Edges Up As Key Poll Points To 'no...
09/12/201406:43:12LONDON MARKETS: U.K. Stocks Rise After Poll Points To 'no' In...
09/10/201423:00:11China's Global Mining Play Is Failing to Pan Out
09/05/201404:15:09LONDON MARKETS: Metals Stocks Fall In London, But Weekly Rise...
09/03/201401:14:51LONDON MARKETS: Weir, Tesco Climb As FTSE 100 Edges Up
09/02/201410:26:36LONDON MARKETS: BHP, Rio Tinto Shares Higher As FTSE 100 Gains
08/29/201403:48:27LONDON MARKETS: Tesco Slides After Warning, Curbs FTSE 100 Gain
08/28/201414:15:12LONDON MARKETS: FTSE 100 Snaps Two-day Winning Streak As Miners...
08/28/201414:15:05EUROPE MARKETS: Deutsche Bank Falls After Fine; Essilor Rallies:...
08/28/201408:12:47EUROPE MARKETS: Bouygues Falls After Warning; Essilor Rallies:...
08/22/201413:09:32EUROPE MARKETS: Hugo Boss Climbs; Oil Stocks Drop: Europe Movers
08/22/201412:27:52LONDON MARKETS: FTSE 100 Ends Choppy Day Lower As Miners Weigh
08/21/201420:22:17Iluka Profit Falls, But Signals Improved Rutile Outlook
08/21/201412:18:43EUROPE MARKETS: Raiffeisen Rallies, Miners Slip: Europe Movers
08/21/201412:17:19LONDON MARKETS: Miners Drop In London After Weak China PMI
08/21/201403:44:17LONDON MARKETS: Miners Slide In London After Weak China PMI
08/18/201417:36:49ADR Shares End Higher; Rio Tinto Shares Trade Actively

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