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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
08/01/201411:32:28EUROPE MARKETS: ArcelorMittal, Iliad Slump In Europe; AXA Climbs
08/01/201407:18:12LONDON MARKETS: FTSE 100 Slumps For Third Day As Miners Slump
08/01/201404:25:34LONDON MARKETS: FTSE 100 Falls For Third Day As Miners Slump
07/31/201420:05:20J.P. Morgan Sees Alumina Rally Running Out of Steam -- Market...
07/30/201407:50:04Rio Tinto to Sell Mozambique Coal Assets
07/24/201419:51:34BHP Buyback on the Cards, Says JP Morgan -- Market Talk
07/24/201406:11:21LONDON MARKETS: Kingfisher Leads Losers In London After Trading...
07/24/201406:09:27LONDON MARKETS: Kingfisher Leads Losses In London After Trading...
07/24/201406:09:24LONDON MARKETS: Kingfisher Leads Losses London After Trading...
07/24/201406:09:24LONDON MARKETS: Kingfisher Leads Loses London After Trading Update
07/23/201412:17:37LONDON MARKETS: Glaxo Slides In London After Earnings Warning
07/23/201410:16:22LONDON MARKETS: Glaxo Shares Fall In London After Earnings Warning
07/23/201407:34:21LONDON MARKETS: U.K. Stocks Edge Up After BOE Minutes; BHP Advances
07/17/201406:17:43ASIA MARKETS: Australian Stocks Reach Six-year High
07/17/201402:29:09ASIA MARKETS: Asian Stocks Rise; Australia Hits Six-year High
07/17/201401:46:24EUROPE MARKETS: European Stocks Jump After Strong U.K., Chinese...
07/16/201418:13:56EUROPE MARKETS: European Stocks Climb After Strong U.K., Chinese...
07/16/201403:53:58EUROPE MARKETS: Chinese Growth Data Boost European Resource Stocks
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...

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