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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
04/17/201513:59:45LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/17/201513:59:19EUROPE MARKETS: European Stocks Mauled By China, Greek Worries;...
04/17/201509:56:59LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/17/201509:22:42LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/16/201511:05:023 Reasons the Internet of Things Is Set to Boost This Giant Miner's...
04/16/201508:00:41Harworth Group Buys Site of Former Lynemouth Smelter From Rio...
04/16/201507:44:04Fortescue Says Can Withstand Slump in Iron Ore Prices--2nd Update
04/16/201504:25:34Fortescue Says Can Withstand Slump in Iron Ore Prices--Update
04/15/201515:57:48Copper Producers, Analysts Differ on When Prices Will Rise
04/15/201511:12:30Australia Shares End Lower as Data Dampen Sentiment
04/15/201510:11:45Goldman Sachs Downgrades Rio Tinto plc to Sell (RTP)
04/15/201505:03:09LONDON MARKETS: FTSE 100 Moves Higher As Miners Gain; U.K. Inflation...
04/14/201514:09:01LONDON MARKETS: FTSE 100 Wavers As Downgrades Hit BP, Primark...
04/14/201510:08:35Fortescue Overhauls Worker Rosters to Cut Costs -- Update
04/14/201507:58:25S&P warns on global miners including BHP, Rio, Vale
04/14/201506:40:16LONDON MARKETS: FTSE 100 Edges Higher Ahead Of Inflation Data
04/14/201503:09:50Glencore's Chase For Rio Tinto: Coveting The Best House In A...
04/13/201518:09:28ADR Shares End Lower; Alcatel-Lucent, Nokia Shares Rise
04/13/201512:42:35LONDON MARKETS: FTSE 100 Eases From Record; BHP Hurt After Downgrade
04/13/201510:22:26BHP slides after Citi downgrade

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