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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; matthew.jarzemsky@dowjones.com

Stock News for Gerdau (GGB)
DateTimeHeadline
11/10/201416:04:08Brazil Stocks Close Lower, Real Recovers Some Losses From Past...
09/16/201421:50:32U.S. Steel Canada to Seek Creditor Protection
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01/29/201415:51:23Brazil Stocks Close Down On Fed Tapering Move
12/17/201317:09:13ADR Shares End Lower as Fed Meeting Begins
12/09/201317:31:15ADR Shares End Mixed as Markets Digest Fed Officials' Speeches
11/27/201317:14:07ADR Shares End Slightly Higher After String of Economic Data
11/15/201307:07:30Two Sigma Investments 3Q 13F: Largest Eliminations
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Sales
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Purchases
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Eliminations -2-
11/14/201307:19:29The Vanguard Group 3Q 13F: Largest Purchases -2-
11/14/201307:19:25The Vanguard Group 3Q 13F: Largest Sales
11/01/201316:22:34Brazil Shares Close Lower as Petrobras Gives Up Gains
10/18/201317:19:44ADR Shares End Mostly Higher On Upbeat China Data
10/17/201317:39:08ADR Shares End Higher a Day After U.S. Lawmakers Strike Deal
09/25/201314:42:33Brazil's Gerdau CEO Sees U.S. Steel Demand Stronger in 2014-15
09/23/201317:04:30ADR Shares End Mixed Following German Elections
09/06/201317:45:45Brazil's Bovespa Stock Index Ends Higher on OGX, Mild Inflation
04/09/201308:41:19Brazilian Companies Tap Overseas Debt Markets as BOJ Money Flows

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