International stocks trading in New York were mixed on Monday.
The Bank of New York index of American depositary receipts fell
0.19% to 156.41. The European index decreased 0.41% to 153.83, the
Asian index improved 0.06% to 150.79, the Latin American index rose
0.72% to 310.29 and the emerging-markets index increased 0.51% to
300.70. Among the companies with shares that actively traded was
Philips NV (PHG, PHIA.AE).
Philips NV reported that its second-quarter profit fell 23%
owing to unfavorable exchange rates and the suspension of its
Cleveland health-care plant. The Dutch electronics maker also said
earnings should improve in the second half of the year, driven by
cost savings and higher sales, particularly at its health-care
division. Shares fell 0.7% to $31.45.
America Movil SAB (AMOV, AMX, AMX.MX) shares declined after a
downgrade to underweight by Morgan Stanley, which questioned the
benefits of the telecommunications heavyweight selling Mexican
assets to avoid strict new regulations. Shares fell 2.5% to
$23.11.
Latam Airlines Group (LFL, LAN.SN) lowered its forecast for its
operating margins this year, citing the negative impact of the
World Cup, which reduced from demand in Brazil from tourists and
business travelers. The company now expects operating margin for
the year to increase 5%, down from the 8% growth previously
expected. Shares fell 5.4% to $12.51.
Write to Tess Stynes at tess.stynes@wsj.com
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