US-traded shares of foreign companies rose on Friday on better-than-expected US jobs data, but the market's gains narrowed as the day wore on and investors took the opportunity to pare positions. The BNY Mellon Index for overall ADRs rose 0.1 percent to 127.77. By contrast, the Dow Jones Industrial Average hit highs not seen since December 2007 after the jobs data was released.
The US unemployment rate fell to 7.8 percent from 8.1 percent. European stocks made the biggest gains, with the BNY Mellon index of European shares rising 0.3 percent to 121.72. Russian mining and metals company Mechel gained 1 percent to $7 after several weeks of losses. Danish shipping company Torm jumped 10 percent to 55 cents per share, extending its rise after it announced a debt restructuring deal with banks on Tuesday. Latin American banks rallied Friday, with Argentina's Banco Macro rising by 1.7 percent to $14.67 per share and Chile's Banco Santander up 1.8 percent to $7.76 per share. The BNY Mellon index of Latin American ADRs fell to 327.79.
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