ADR Shares End Lower; America Movil Shares Trade Actively

Prices of international shares trading in New York closed lower on Tuesday. The BNY Mellon index of American depositary receipts fell 0.8% to 142.93. The European index decreased 1.1% to 141.47, the Asian index dropped 0.22% to 144.37, the Latin American index fell 0.41% to 238.31 and the emerging markets index declined 0.40% to 268.16. Among the companies with shares that actively traded was America Movil SAB (AMOV, AMX.MX, AMX).

AT&T (T) is signaling a deal for Mexican assets from America Movil isn't coming soon. AT&T is expanding into the country and America Movil is expected to shed a significant amount of assets to get out from government penalties put in place because of its dominance. But AT&T Chief Financial Officer John Stephens said at an industry conference that it isn't yet clear what America Movil plans to sell or whether any such moves would pass muster with the Mexican government. America Movil shares fell 1.7% to $21.90.

Brazil's top prosecutor on Tuesday called for the management of state-run oil company Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR) to be replaced in light of a widespread corruption scandal that has tarnished the image of Brazil's biggest company. Petrobras shares fell nearly 1% to $8.15.

Mitsui & Co. (8031.TO) said it is investing in Mozambique coal and transportation infrastructure projects, an indication of its confidence that slumping coal prices will eventually recover. The Japanese trading firm said Tuesday it will buy 14% of the Moatize coal mine and 35% of the Nacala rail and port project in the central part of the east African country from Brazil's Vale SA (VALE, VALE3.BR, VALE5.BR, VALE5.FR). Mitsui plans an initial investment of $763 million in the two projects, the company said. Vale shares fell 1% to $7.94.

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