ADRs in Focus: Emerging Markets

ADRs in Focus: Emerging Markets
Associated Press 10.09.07, 3:45 PM ET

NEW YORK -

An index of emerging markets ADRs edged up Monday, boosted by gains in shares of mining companies.

The Bank of New York (nyse: BK - news - people ) Emerging Markets ADR Index - which includes shares of companies based in Hong Kong, South Africa, Brazil, Mexico, China and India - added 5.74 points, or 1.5 percent, to 381.76 in afternoon trading.

The bank's Latin America index added 1.9 percent, while its China ADR index moved up 2 percent. ADRs are American Depositary Receipts, which are securities designed to allow U.S. investors to trade shares of companies based overseas.

Shares of global metals miners climbed, following up prices for gold, zinc, lead copper, nickel, aluminum and tin.

Of the Latin American ADRs, Gerdau SA (nyse: GGB - news - people ) rose $1.07, or 3.7 percent, to $29.80 and Companhia Siderurgica Nacional (nyse: SID - news - people ) shares added $2.03, or 2.7 percent, to $76.94. Companhia Vale do Rio Doce (nyse: RIO - news - people ), or CVRD, added $1.03, or 3.1 percent, to $34.30.

In China ADRs, Aluminum Corp. of China Ltd. (nyse: ACH - news - people ), or Chalco, rose $1.98, or 2.7 percent, to $76.31.

Meanwhile, some Indian stocks did particularly well, boosted by strong overnight performance in the Indian home market. The Bombay Stock Exchange's benchmark Sensex index jumped 789 points, or 4.5 percent, to close at 18,280 points. The gain was the most ever in a single day, and marked the index's first close above the 18,000 mark.

Shares of some Indian outsourcing and information technology stocks gained. Patni Computer Systems Ltd. (nyse: PTI - news - people ) shares rose $1.15, or 4.7 percent, to $25.47; Satyam Computer Services Ltd. (nyse: SAY - news - people ) shares added 91 cents, or 3.4 percent, to $28.04; and Infosys Technologies Ltd. (nasdaq: INFY - news - people ) shares added $1.73, or 3.3 percent, to $54.21.

Taiwanese semiconductor maker United Microelectronics Corp. also rose 79 cents, or 21.7 percent, to $4.41. The company reported a 14.2 percent rise in September sales.

Brazilian telecommunications company Vivo Participacoes SA added 22 cents, or 4.5 percent, to $5.06.

The Bank of New York Composite ADR Index added 1.79 points to 195.68, while U.S. markets also gained modestly.