By Kristina Cooke
NEW YORK, Dec 17 (Reuters) - U.S.-listed shares of overseas
companies fell on Monday, as investors worried that signs of
rising U.S. inflation and weakness in holiday shopping dimmed
prospects for economic growth.
The Bank of New York's index of leading American Depositary
Receipts (ADRs) <.BKADR> was down 1.3 percent while the
30-share Dow Jones industrial average <.DJI> was down 0.4
percent.
Financial shares were the hardest hit, with Japan's
Mitsubishi UFJ Financial <MTU.N> down almost 4 percent to $9.03
on credit concerns.
Economic growth worries also hit mining companies, with BHP
Billiton shares falling 3.8 percent to $68.38, while Brazil's
Vale <RIO.N> fell 3 percent to $31.90.
The Bank of New York's index of leading European ADRs
<.BKEUR> was down 1 percent. The FTSEurofirst 300 index was
down 1.4 percent.
ADRs of Barclays fell 1 percent to $42.16 and Dutch bank
ING Groep NV <ING.N> dropped 1.1 percent to $38.17.
ADRs of GlaxoSmithKline <GSK.N>, Europe's biggest
drugmaker, fell 1.2 percent to $52.32 as its cervical cancer
vaccine Cervarix faces a delay in winning approval in the
United States, putting it further behind Merck & Co Inc's
<MRK.N> rival product.
The Bank of New York's index of leading Asian ADRs <.BKAS>
was down 1.6 percent after shares ended lower in Asia.
ADRs of Chinese wireless services company KongZhong Corp
<KONG.O> were a bright spot, rising 27 percent to $6.87 after
it raised its fourth quarter revenue outlook.
Receipts with the Bank of New York's index of leading Latin
American ADRs <.BKLA> fell 2.5 percent. In Latin America, major
benchmarks were lower, as investors worried about the outlook
for the U.S. economy.
ADRs of Petrobras <PBR.N> fell 2.7 percent to $104.48 while
miner Vale <RIO.N> fell 3 percent to $31.90.
Brazil's Banco Itau <ITU.N> fell 3.1 percent to $25.49,
while Colombia's Bancolombia <CIB.N> declined 2.3 percent to
$34.33.
ADRs of ICA, Mexico's largest construction company, slid 3
percent to $25.30.
(Reporting by Kristina Cooke, Editing by Chizu Nomiyama,)
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Keywords: MARKETS STOCKS ADRS