NEW YORK, March 19 (Reuters) - Overseas shares traded in the United States fell on Friday, taking a cue from sagging U.S. and European markets as weak commodity prices hit resource shares.
Oil futures suffered their steepest drop in six weeks as the U.S. dollar got a boost from worries over Greece's heavy debt load. Despite the European Union's verbal assurances of support, investors waited to see if that will translate into financial aid.
Oil fell 2.2 percent to $80.37 a barrel and strength in the greenback hit other commodities as well, dragging resource shares lower. Among the laggards, Total was down 1.3 percent at $57.31, while Randgold Resources gave up 2.8 percent at $72.88.
Shares of Semiconductor Manufacturing International Corp was off 0.6 percent to $5.35 after sources said China's top contract chipmaker plans to raise up to $500 million through a private equity placement or overseas convertible bond. For details, see
Rio Tinto lost 2 percent to $223.01 after it signed a $2.9 billion agreement with Chinalco to jointly develop an iron ore project in Guinea.
Credit Suisse slipped after authorities said German prosecutors launched 1,100 tax evasion probes against its clients and investigated staff on suspicion of aiding evasion. Credit Suisse's shares fell 1 percent to $51.37.
Indian ADRs slid after that country's central bank raised short-term borrowing and lending rates by 25 basis points to anchor inflationary expectations and check price pressures. The Bank of New York Mellon India ADR index fell 1.6 percent.
On the upside, Lloyds Banking Group jumped 8.8 percent to $3.71 after the bailed-out British lender said it would return to profit this year thanks to a bigger-than-expected drop in bad debts.
Baidu Inc added 0.9 percent to $569.67 after a report that Google Inc may make an announcement Monday about whether it will pull out of China.
The Bank of New York Mellon index of leading American Depositary Receipts (ADRs) fell 1 percent, while U.S. stocks dropped after eight consecutive days of gains for the Dow.
The Bank of New York Mellon index of leading Asian ADRs slipped 0.5 percent. China and Hong Kong shares edged up, while Japan's Nikkei rose in a broad rebound.
The Bank of New York Mellon index of leading European ADRs lost 1.1 percent. European stocks fell in a late-session sell-off in resource shares.
Receipts with the Bank of New York Mellon index of leading Latin American ADRs shed 1.4 percent.
(Reporting by Leah Schnurr; editing by Jeffrey Benkoe) Keywords: MARKETS STOCKS ADRS (leah.schnurr@thomsonreuters.com; +1 646 223 6026; Reuters Messaging: leah.schnurr.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Oil futures suffered their steepest drop in six weeks as the U.S. dollar got a boost from worries over Greece's heavy debt load. Despite the European Union's verbal assurances of support, investors waited to see if that will translate into financial aid.
Oil fell 2.2 percent to $80.37 a barrel and strength in the greenback hit other commodities as well, dragging resource shares lower. Among the laggards, Total was down 1.3 percent at $57.31, while Randgold Resources gave up 2.8 percent at $72.88.
Shares of Semiconductor Manufacturing International Corp was off 0.6 percent to $5.35 after sources said China's top contract chipmaker plans to raise up to $500 million through a private equity placement or overseas convertible bond. For details, see
Rio Tinto lost 2 percent to $223.01 after it signed a $2.9 billion agreement with Chinalco to jointly develop an iron ore project in Guinea.
Credit Suisse slipped after authorities said German prosecutors launched 1,100 tax evasion probes against its clients and investigated staff on suspicion of aiding evasion. Credit Suisse's shares fell 1 percent to $51.37.
Indian ADRs slid after that country's central bank raised short-term borrowing and lending rates by 25 basis points to anchor inflationary expectations and check price pressures. The Bank of New York Mellon India ADR index fell 1.6 percent.
On the upside, Lloyds Banking Group jumped 8.8 percent to $3.71 after the bailed-out British lender said it would return to profit this year thanks to a bigger-than-expected drop in bad debts.
Baidu Inc added 0.9 percent to $569.67 after a report that Google Inc may make an announcement Monday about whether it will pull out of China.
The Bank of New York Mellon index of leading American Depositary Receipts (ADRs) fell 1 percent, while U.S. stocks dropped after eight consecutive days of gains for the Dow.
The Bank of New York Mellon index of leading Asian ADRs slipped 0.5 percent. China and Hong Kong shares edged up, while Japan's Nikkei rose in a broad rebound.
The Bank of New York Mellon index of leading European ADRs lost 1.1 percent. European stocks fell in a late-session sell-off in resource shares.
Receipts with the Bank of New York Mellon index of leading Latin American ADRs shed 1.4 percent.
(Reporting by Leah Schnurr; editing by Jeffrey Benkoe) Keywords: MARKETS STOCKS ADRS (leah.schnurr@thomsonreuters.com; +1 646 223 6026; Reuters Messaging: leah.schnurr.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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