An index of Australian ADRs rose slightly Friday afternoon, even as the broader markets fell on disturbing U.S. unemployment numbers and record-high crude oil prices.
The Bank of New York Australia ADR Index rose 0.26 points to 373.27. Year to date, the index is up more than 12 percent. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.
The U.S. Labor Department said Friday the number of unemployment claims spiked in May to levels not seen in more than 25 years.
Meanwhile, crude oil prices resumed their climb on the New York Mercantile Exchange, setting a new record above $137 a barrel.
The news sent the benchmark Dow Jones industrial average down nearly 300 points.
However, ADRs of Australia's Samson Oil & Gas Ltd. rose 32 cents, or 9.5 percent, to $3.72. The company said late Thursday it expects to start drilling at a Brazoria County, Texas, site by June 22.
Shares of Lihir Gold Ltd. rose 45 cents to $29.46, and shares of BHP Billiton Ltd. gained 37 cents to $84.57.
ChemGenex Pharmaceuticals Ltd. shares posted the largest drop on the index, losing $2.76, or 16 percent, to $14.50.
Shares of Prana Biotechnology Ltd. lost 11 cents, or 2.7 percent, to $3.98, and shares of James Hardie Industries NV slipped $1.01, or 3.9 percent, to $25.
The Bank of New York Asia ADR Index lost 4.16 points to 162.69. The Bank of New York Composite ADR Index fell 3.23 points to 178.69.
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