US-listed shares of foreign companies rose on Friday to close their best week in four, led by European stocks as their regional benchmark reached an eight-month high. The FTSEurofirst 300 index of top European shares rose for a fourth straight day to close at its highest level since July 22, as investors plow back into the region's equities following the approval of a second bailout for Greece.
US-traded shares of Transocean rose 4.6 percent to $58.70 after the Swiss company, owner of the world's largest offshore drilling fleet, secured new contracts for three floating rigs. Steady growth in demand is driving up daily rates. The BNY Mellon index of leading American depository receipts rose 0.54 percent and the regional index of European ADRs added 0.83 percent.
In comparison, the S&P 500 index edged up 0.11 percent to close at its highest level since May 2008. Overnight in Asia, the Shanghai benchmark rose 1.3 percent but still posted its largest weekly percentage loss in 10 weeks. ADRs of China Mobile dropped 1.3 percent to $53.56 and China Unicom fell 2.4 percent to $17.66. The BNY Mellon index of Chinese ADRs fell 0.32 percent and the broader Asian ADR index rose 0.12 percent. Major markets in Latin America were mixed, with Mexico's IPC up 0.3 percent and Brazil's Bovespa off 0.1 percent. The index of leading Latin American ADRs edged up 0.1 percent.