ADRs fall for second day, pacing losses on Street
ADRs again lower, pacing Wall Street losses
By Moming Zhou, MarketWatch
Last Update: 12:37 PM ET Feb 15, 2008
SAN FRANCISCO (MarketWatch) — U.S.-listed securities of overseas companies fell
Friday, extending their weakness from the prior session as they paced the
end-of-week losses seen on Wall Street.
Conspicuously weak was UBS AG. Switzerland’s largest financial group dropped for
a second day, retreating to the lowest since August 2004.
The Bank of New York ADR Index (16899W10), which tracks American Depositary
Receipts, slipped 0.5% to 169.61. The Europe ADR Index (16899W11), which has a
weighting of 70% in the overall index, fell 0.9%.
ADRs are securities that are traded in the U.S. but that represent shares in
overseas companies.
On Wall Street, U.S. stocks came under selling pressure as economic data showed a
rise in import prices and a decline in regional manufacturing activity in New
York state, sparking jitters about both inflation and a possible recession.
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