ADR Shares End Mixed; Philips Shares Trade Actively

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 [e-mail]

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