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ADR REPORT: Shares Mostly Down Amid Continued Europe Worries

By Matt Jarzemsky Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- International companies trading in New York closed mostly lower Friday, weighed down by European shares slumping on euro zone worries. The Bank of New York Index of ADRs dipped 0.2% to 116.02, tracking nearly flat performance of markets in the U.S. and elsewhere, as Europe's debt crisis dragged on. Fitch Ratings placed its ratings on six euro-zone nations, including Spain and Italy, on watch for downgrade after it found a "comprehensive solution" to the region's issues are "technically and politically beyond reach." Swedbank analyst Jari Honko cut his 2012 handset volume estimates for Nokia (NOK, NOK1V.HE) from a view he had already considered cautious, saying he isn't thrilled by signals he has heard about shipments. Nokia shares fell 3.7% to $4.68. Oil futures edged lower Friday, capping a weak of steep declines spurred by growing worries about slowing oil demand. Total SA's (TOT, FP.FR) shares dipped 1.3% to $47.26 while Repsol YPF SA (REPYY, REP.MC) saw a 1.4% decline to $28.53. The European index fell 0.4% to 107.84. The Asian index edged 0.1% downward to 111.44. India's central bank left rates and banks' cash reserve ratio unchanged, disappointing some market participants, according to an analyst. HDFC Bank Ltd. (HDB, 500180.BY) dropped 4.6% to $25.21. ICICI Bank Ltd. (IBN) ended 1.2% lower at $25.33. European new car registrations fell 3% in November from the year-earlier month, pressured by weaker sales in France, Italy and the U.K., the European automobile manufacturers' association ACEA said. Toyota Motor Corp.'s (TM, 7203.TO) shares closed 2.6% lower at $63.70 while Honda Motor Co. (HMC, 7267.TO) saw a 1.6% slide to $29.01. The Latin American index rose 0.4% to 323.52 while the emerging markets index saw a 0.5% increase to 268.88. UBS sees Latin America's largest bottler of Coca-Cola (KO) products, Mexico's Coca-Cola Femsa (KOF, KOF.MX), making more deals with bottlers in the wake of its third acquisition this year in the Mexican Coke bottling system. The bank has identified seven potential targets that could be consumed in 2012, including four with territories contiguous to those of KOF. Coca-Cola Femsa ADRs rose 3% to $90.53. Spreadtrum Communications Inc. (SPRD) received approval to repurchase up to $50 million of its American depositary shares, coming on the heels of another buyback plan unveiled earlier this year. Shares gained 3.7% to $20.23. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;

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