ADR Shares End Lower; Telecom Italia Shares Active

International stocks trading in New York closed lower on Friday, with the Bank of New York index of American depositary receipts falling 0.9% to 150.94. The European index slipped 0.8% to 151.66, the Asian index dropped 1% to 144.85, the Latin American index fell 1.8% to 255.61 and the emerging markets index declined 1.4% to 265.75. Among the companies with shares that actively traded were Telecom Italia SpA (TI, TIA, TIT.MI).

Telecom Italia reported a narrower net loss of EUR674 million ($927.9 million) for 2013, and proposed suspending its ordinary dividend so that it could keep investing in its network amid signs of recovery in its home market. Still, shares fell 2.8% to $11.31.

Mexico took unprecedented strides to rein in the country's telecommunications and television operators, imposing a rash of measures on the phone companies of billionaire Carlos Slim and on the country's top broadcaster Grupo Televisa SAB (TV, TLEVISA.MX) in a bid to improve competition in their markets. Grupo Televisa shares fell 2.3% to $31.12.

Ryanair Holdings PLC (RYAAY, RYA.LN) suffered a setback in its fight to keep a 28.9% stake in rival carrier Aer Lingus PLC as U.K. antitrust regulators on Friday rejected the discount airline's appeal against an earlier ruling that its stake stifled competition between the U.K. and Ireland and should be reduced. Shares edged down 0.5% to $56.59.

Vodafone Group PLC (VOD, VOD.LN) will conduct an accelerated due diligence of Ono SA that may lead to a binding offer for the Spanish cable company, following new discussions with Ono's shareholders, according to The Wall Street Journal, which cited a person close to the talks. Vodafone shares fell 2.8% to $39.93.

A Royal Dutch Shell PLC (RDSA, RDSA.LN) oil pipeline in southeast Texas leaked about 364 barrels of oil Thursday when work crews accidentally punctured the line, according to the company. Still, shares edged up 0.3% to $72.81.

Write to Anna Prior at [e-mail]

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