SAN FRANCISCO (Dow Jones) -- U.S.-listed shares of overseas companies mostlyrose on Monday, but mining stocks suffered sharp downturns as metals pricesedged lower.
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The Bank of New York ADR Index (16899W10) gained 0.5% to 177.36 in afternoontrading.
U.S. stocks rebounded from Friday's sell-off, with the hard-hit financialservices first benefiting from an upgrade of Merrill Lynch & Co. Inc. The DowJones Industrial Average (DJI) gained 112 points while the S&P 500 (SPX) rose 12points.
The Europe ADR Index, making up 70% of the Bank of New York ADR index, climbed0.8%.
German insurance giant Allianz SE (AZ) , which raised its estimated exposureto subprime mortgages, said its involvement remains modest relative to thecompany's size, and it doesn't expect fallout from the turmoil in the mortgagemarket. Shares of Allianz gained 2.2%.
Shares of ABN Amro (ABN) were up 2.1% after shareholders in Fortis backed itsjoint bid for ABN Amro , putting the Belgian-Dutch bank and its partners in thelead in the bidding for the bank.
At home, European shares recovered some lost ground on Monday.
Mining stocks were largely lower. Gold for December delivery fell $1.80 at $682.60 an ounce on the New York Mercantile Exchange. Copper and silver were alsodown.
Gold Fields Ltd. (GFI) , South Africa's largest gold miner, sank 3.6%. AnotherSouth African miner, Harmony Gold Mining Ltd. (HMY) slumped 17%, the biggestpercentage mover among 418 ADRs tracked by the Bank of New York.
Aluminum Corp. of China Ltd. (ACH) , China's largest producer of the metal,tumbled 7.7%.
BHP Billiton Ltd. (BHP) , the world's biggest mining company by market value,lost 0.9%.
Wipro (WIT) , India's second-largest software company by revenue, fell 2.1%.The company said it would pay $18.70 a share to buy U.S.-based Infocrossing Inc. (IFOX) , valuing Infocrossing at a premium of 5% over its price before the offerwas made public.
The Asia ADR Index gained 0.1% while the measure of Latin America lost 1.1%.
(END) Dow Jones Newswires 08-06-07 1458ET Copyright (c) 2007 Dow Jones & Company, Inc.
