ADR’s continue down in New York

Shares of foreign insurers, airlines, and automakers that trade on United States equities markets were down on Tuesday, while oil stocks were up despite damage to production facilities by Hurricane Katrina. The Bank of New York’s index of leading ADRs was down 0.5 percent on the day.

Among foreign insurers trading on the New York Stock Exchange, Germany’s Allianz fell by 0.9 percent to $12.63, while French insurer AXA lost 0.6 percent to $26.18.

In the airline sector, Chile’s LAN Airlines lost 3.4 percent to $31.60 and British Airways fell 1.5 percent to $49.80. Automobile maker Fiat lost 2.1 percent to $8.61, while Honda Motor Co. declined by 1.1 percent to $26.25.

Meanwhile in the oil sector, BP Plc, saying its Gulf of Mexico facilities were not damaged, gained 0.6 percent to $66.74. Royal Dutch Shell, which reported two of its drilling rigs adrift in the Gulf of Mexico, still added 0.4 percent to $62.80.

Brazilian utility company Cemig was also up, by 3.2 percent to $33.28. The index of leading Latin American ADRs was up 0.1 percent to 167.46, while the index of leading Asian ADRs fell 0.5 percent to 114.28 and the index of leading European ADRs lost 0.6 percent to 127.71.

Story link: ADR’s continue down in New York