ADR Report: Shares End Higher on Central Bank Support

   By Mia Lamar 
 

International companies trading in New York closed higher Wednesday after central banks in the U.S. and Europe threw their continued support behind economic stimulus measures.

The Bank of New York index of American depositary receipts rose 0.3% to 118.90. Financial stocks were among the biggest beneficiaries of a decision by the Federal Reserve to extend a bond-buying program and minutes from the Bank of England that signaled further stimulus.

Spain's Banco Bilbao Vizcaya Argentaria (BBVA, BBVA.MC) rose 3.5% to $6.76, France's Societe Generale (SCGLY, GLE.FR) added 2.5% to $4.50, and the U.K.'s Barclays PLC (BCS, BARC.LN) gained 2.2% to $12.95.

The European index rose 0.3% to 109.92. Elsewhere in the region, shares of French drug maker Sanofi (SNY, SAN.FR) slipped 0.5% to $36.46 after a federal advisory panel in the U.S. rejected a Sanofi drug designed to prevent blood clots in cancer patients.

The Asian index rose 0.2% to 117.69.

Australian mining company Rio Tinto PLC (RIO, RIO.LN) said Wednesday it would spend an additional $4.2 billion on the expansion of its mining operations in Guinea and Australia's remote Pilbara region. U.S.-listed shares ended 0.7% higher at $48.37.

The Latin American index slipped 0.1% to 320.09, and the emerging-markets index fell 0.2% to 272.89.

Russian coal and steel group OAO Mechel (MTL, MTLR.RS) on Wednesday reported its first-quarter profit dropped 30%, although the figure still came in above analyst expectations. Shares climbed 2.8% in New York trade to end at $6.72.

Write to Mia Lamar at [e-mail]