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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
07/28/201504:28:06Australia Shares End Slightly Down; Energy Stocks Rise
07/23/201509:00:00Industrial Metals and Minerals Stocks under Review -- Uranium...
07/23/201503:50:48Fortescue Deepens Cuts as Iron-Ore Downturn Bites
07/22/201506:50:53Tech, Resources Stocks Weigh on European Markets -- Update
07/21/201503:51:17Australia Shares Extend Gains for Sixth Straight Day
07/20/201504:07:10Australia Shares Rise for a Fifth Straight Session
07/16/201518:01:37ADRs End Higher; National Bank of Greece Declines
07/16/201514:26:21Anglo American Takes up to $4 Billion in Write-Downs -- 2nd Update
07/16/201504:50:10Anglo American Takes up to $4 Billion in Write-Downs -- Update
07/16/201504:00:11Anglo American Takes up to $4 Billion in Write-Downs
07/15/201522:40:45Rio Tinto Trims Iron-Ore Export Target
07/15/201522:12:09Rio Tinto Scales Down Iron Ore Shipment Target-- Update
07/15/201519:21:40Rio Tinto Iron-Ore Shipments Jump 8% for Quarter
07/14/201520:02:38Iron-Ore Trade Quiet as Sellers Hold Cargoes -- Market Talk
07/09/201521:23:18Correction to Energy Resources Article
07/09/201519:23:14Energy Resources Reports 20% Drop in Uranium-Oxide Output
07/08/201518:45:13ADRs End Lower; National Bank of Greece Declines
07/08/201502:52:45Rio Tinto to Ship First Aluminum From Revamped Kitimat Smelter
07/06/201510:05:025 Stocks to Watch in Commodities
07/01/201516:38:27Rio Tinto CEO Sam Walsh Responds to Critics of Iron-Ore Production

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