ADR’s fall in New York

Foreign companies whose shares are traded in the United States were generally down on Tuesday as the Bank of New York’s index of leading ADRs, fell 0.71 percent.

Oil stocks led the decline as crude oil prices were down in late morning trading. Shares in Royal Dutch Shell Plc were down 0.5 percent to $63.14, while Total S. A. dropped 1 percent to $127.03. China Petroleum lost almost 2 percent to $45.34 and Petroleo Brasiliero SA (Petrobras) declined by 1.6 percent to $57.58.

British Airway’s US shares also declined, by 1 percent to $51.52, after Smith Barney lowered BA’s 2005 earnings forecast by 8 percent and its 2006 prediction by 2.5 percent in the wake of BA’s strike troubles at Heathrow airport in London. Not all foreign shares were down, however, as Fiat gained 2.5 percent to $9.07.

Overall, the index of leading European ADRs fell 0.8 percent, the index of leading Asian ADRs was down 0.95 percent, and the index of leading Latin American ADRs dropped 1.5 percent.

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