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ADR REPORT: ADRs rebound, tracking gains on Wall Street

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NEW YORK (MarketWatch) -- U.S.-listed shares of overseas companies rose on Tuesday, tracking overnight gains on Asian and European markets as well as a rebound on Wall Street.
The Bank of New York Composite ADR index was last up 2.4% at 162.94 points.
The Bank of New York Latin America ADR Index rose 4% to 268 points, the Asian ADR index added 2.9% at 156.37 points, and the Europe ADR index gained 2% to 162.97 points.
In New York, U.S. stocks rose sharply on Tuesday, lifting the Dow Jones Industrial Average by over 100 points, as investors extended a recovery in Asian markets and the dollar overnight. See Market Snapshot.
Shares of Swiss drug-maker Novartis rose 5.7% at $56.76, after the company said it won U.S. Food and Drug Administration clearance for Tekturna, a high-blood-pressure treatment. See full story.
Novartis has recently been hit by delays in securing clearances for some of its key drugs.
Shares of Israeli drug-maker Teva Pharmaceutical Industries (TEVA : Quote, Profile, Research)
rose 4% at $36.16. The generic drug-maker said Tuesday that it plans to sell its generic version of Purdue Frederick Co.'s OxyContin at least through the end of 2007. China Life(601628.SS: Quote, Profile , Research) (LFC: Quote, Profile , Research) (2628.HK: Quote, Profile , Research)
gained 7% at $39.27. Yanzhou Coal (1171.HK: Quote, Profile , Research) (YZC: Quote, Profile , Research)
rose 7.5% at $44.59.


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