An index of emerging markets ADRs rose in afternoon trading Friday as investors cheered news U.S. employers cut fewer jobs than expected in April, and the U.S. Federal Reserve said it would work with European central banks to stave off a global credit crisis.
The Bank of New York Emerging Markets ADR Index _ which includes shares of companies based in China, Mexico, Brazil and more _ added 2.05 points to 377.57. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.
Shares of China's LDK Solar Co. Ltd. gained $2.01, or 6.5 percent, to $33.21.
Shares of China Finance Online Co. Ltd. added $1.18, or 5.4 percent, to $23.16.
Shares of India's Satyam Computer Services Ltd. rose $1.20, or 4.6 percent, to $27.20.
Brasil Telecom SA shares were among the biggest decliners on the index, shedding $2.80, or 7.6 percent, to $33.88.
Shares of Brazilian airline GOL Linhas Areas Inteligentes SA sank 74 cents, or 4.1 percent, to $16.98.
Shares of Chinese Internet portal Baidu.com Inc. slipped $9.9, or 2.8 percent, to $359.84.
The Bank of New York Composite ADR Index gained 0.86 points to 184.26 as the U.S. markets fell in afternoon trading.
Terms & Conditions
RSS Headlines
Fool UK