ADR Report-Housing data, dollar fall lift ADRs

By Chuck Mikolajczak

NEW YORK, Nov 23 - Overseas shares traded in the United States rose on Monday as the U.S. dollar fell and better-than-expected housing data raised optimism on the economic recovery.

The National Association of Realtors said sales of existing homes in the United States rose to their highest level in more than 2-1/2 years to an annual rate of 6.1 million units. For details, see [ID:nN23252398]

The decline in the greenback <.DXY> ,which fell 0.8 percent against a basket of currencies, boosted demand for overseas shares priced in the U.S. currency.

In equities news, LDK Solar <LDK.N> jumped 9.1 percent to $8.73 in New York after the Chinese solar wafer maker reported a surprise third-quarter profit and guided toward better-than-expected fourth-quarter sales. [ID:nBNG390732]

Also moving higher on earnings was China's 51job Inc <JOBS.O>, which surged 13.6 percent to $18.93 after posting better-than-expected results for the third quarter and forecasting a strong fourth quarter. [ID:nBNG414434]

The Bank of New York Mellon index of leading American Depositary Receipts <.BKADR> gained 2 percent. The U.S. benchmark S&P 500 index <.SPX> was on track to snap a three-day streak of declines, up 1.3 percent .

The Bank of New York Mellon index of leading Asian ADRs <.BKAS> added 1.3 percent. Asian shares rose as resource stocks led to gains in Australia while Japan was closed for a holiday.

The Bank of New York Mellon index of leading European ADRs <.BKEUR> climbed 2 percent. In Europe, the FTSEurofirst 300 <.FTEU3> index of top shares rose to its highest level in more than five weeks, making up more than half the losses suffered in the previous four sessions. ((Charles.mikolajczak@thomsonreuters.com; +1 646 223 5234; Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net))