ADR Shares End Lower; Vodafone Shares Active

International stocks trading in New York closed lower on Thursday, with the Bank of New York index of American depositary receipts slipping 0.5% to 151.53. The European index dropped 0.3% to 151.50, the Asian index declined 0.8% to 143.19, the Latin American index fell 1.5% to 281.23 and the emerging-markets index fell 1.2% to 274.87. Among the companies with shares that actively traded was Vodafone Group PLC (VOD, VOD.LN).

Vodafone said Thursday that its U.K. division would invest GBP1 billion ($1.66 billion) in networks and services this year, creating 1,400 jobs in the country as it opens 150 new stores. Shares declined 1.3% to $36.26.

Swiss drug maker Novartis AG (NVS, NOVN.VX) shuffled its top management in Japan and froze funding to doctor-led clinical trials in the country, in an effort to redeem a reputation tarnished by admissions of misconduct in its second-largest market. Shares slipped 1.4% to $83.41.

Ryanair Holdings PLC (RYAAY, RYA.LN) said on Thursday that it carried a record 81.7 million passengers in the 12 months to the end of March, with forward bookings on the rise, though traffic was down 4% in the month itself compared with March last year. Shares were essentially flat at $60.09.

Brazilian phone company Oi SA (OIBR, OIBR4.BR) on Thursday said it will price its shares as part of an offer regarding its plan to merge with Portugal Telecom SGPS SA (PT, PTC.LB), on April 28. Oi shares rose 1.5% to $1.38.

Credit Suisse Group AG (CS, CSGN.VX) set aside over half a billion dollars to help cover a possible settlement with U.S. authorities probing its alleged role in assisting tax evaders. The Swiss lender also gave its chief executive a big raise. Shares were essentially flat at $32.84.

Write to Anna Prior at [e-mail]

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