By Jennifer Coogan
NEW YORK, Dec 27 (Reuters) - U.S. listed shares of overseas
companies fell on Thursday, dragged lower by Indian-based
issues after the assassination of Pakistan opposition leader
Benazir Bhutto raised concerns about stability in South Asia.
The Bank of New York's index of leading American Depositary
Receipts (ADRs) <.BKADR> was down 0.4 percent while the
30-share Dow Jones industrial average <.DJI> was 0.8 percent
lower at 13,441.87.
The Bank of New York's index of leading Asian ADRs <.BKAS>
was down 1.3 percent. In Asia, major benchmarks closed lower,
except for India's BSE index <.BSESN>, which capped a fifth day
of gains.
Bhutto was killed as she left an election rally in the
Pakistani city of Rawalpindi, putting the Jan. 8 election in
doubt and stirring concern about geopolitical stability. In a
sign of investor anxiety, safe-haven assets such as gold and
government bonds were in demand.
The sharpest decliners were Mumbai-based commercial vehicle
maker Tata Motors Ltd <TTM.N>, down 5.3 percent at $18.41 on
the New York Stock Exchange. Indian telecommunication company
Videsh Sanchar Nigam Ltd <VSL.N> ADRs were down 4.6 percent at
$37.82.
U.S.-listed shares of ICICI Bank <IBN.N>, India's
second-largest lender, were down 5.8 percent to $59.66 on the
NYSE.
The Bhutto assassination, combined with a U.S. government
report showing a decline in crude supplies sent oil futures up
$1.30 to $97.28 a barrel. Major European overseas oil companies
were trading higher.
BP Plc <BP.N> rose 0.6 percent to $74.10 and Royal Dutch
Shell <RDSa.N> climbed 1.1 percent to $84.07 on the NYSE.
The Bank of New York's index of leading European ADRs
<.BKEUR> was up 0.2 percent. In Europe, shares closed slightly
higher.
U.S.-traded shares of Rio Tinto Plc <RTP.N> were down 2.4
percent to $428 after the Anglo-Australian miner hit back at
rival BHP Billiton's <BHP.N> hostile approach in an open letter
to shareholders [ID:nSYD243040].
BHP Billiton ADRs lost 1.7 percent to $71.17.
Receipts with the Bank of New York's index of leading Latin
American ADRs <.BKLA> were down 1.1 percent. In Latin America,
major benchmarks were trading lower, except for Chile's main
equity index.
(Editing by Leslie Adler)
(([email protected]; + 1 646-223-6125; Reuters
Messaging: [email protected]))
Keywords: MARKETS STOCKS ADRS
.
Keywords: MARKETS STOCKS ADRS