ADR Report-ADRs eke out gains on Fed cut; HSBC higher

Newswire

By Ellis Mnyandu NEW YORK, Aug 17 (Reuters) - U.S.-listed stocks of overseas companies rose on Friday as shares of banks and other financial companies gained following a surprise cut in the Federal Reserve's discount rate, charged on direct Fed loans to banks. The Bank of New York's index of leading American Depository Receipts (ADRs) rose 1.5 percent while the 30-share Dow Jones industrial average was up almost 1 percent, or more than 120 points, at 12,974.05. Standouts among banks ...

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