International stocks trading in New York closed down on Friday.

The BNY Mellon index of American depositary receipts declined 0.80% to 132.74. The European index eased 0.75% to 124.03. The Asian index declined 0.57% to 152.33. The Latin American index fell 2.1% to 228.57. And the emerging-markets index fell 0.99% to 270.91.

Baidu Inc. (BIDU) and Grana y Montero SAA (GRAM, GRAMONC1.VL) were among the companies with ADRs that traded actively.

 

A Chinese regulatory crackdown on online search and advertising drove a sharp drop in Baidu's quarterly profit, although shares rose in after-hours trade as results beat expectations. ADRs fell 5% to close at $175.17.

 

Mexican soft-drink bottler Coca-Cola Femsa SAB (KOF, KOF.MX) on Friday reported strong year-on-year rise in fourth-quarter and 2016 results, but profit on a per-share basis missed analysts' projections. Coca-Cola Femsa, the world's largest public bottler of Coca-Cola products, is a joint venture of Coca-Cola Co. (KO) and Mexican bottler and retailer Fomento Económico Mexicano SAB (FMX, FEMSA.MX). Coca-Cola Femsa's ADRs fell 1.7% to $64.89.

 

Grana y Montero's ADRs fell 35% to $3.32 on Friday amid Peruvian media reports that the firm knew of bribes paid by Brazil's Odebrecht. GyM, Peru's biggest construction company, and Odebrecht often created joint ventures to develop state infrastructure projects.

 

Royal Bank of Scotland Group PLC (RBS, RBS.LN) pledged an additional GBP750 million ($951.6 million) of costs cuts this year, targeting a return to profitability in 2018. The 70% state-owned bank--which has shed nearly half its staff, exited countries and ditched nearly three quarters of its unwanted assets since its government bailout in 2008--has reported nine straight annual losses. ADRs fell 6% to $5.91.

 

Vale SA's (VALE, VALE3.BR, VALE5.BR, VALE5.FR) chief executive intends to step down when his term ends in May, the Brazilian mining giant said Friday. No reason was given for the decision. Brazilian news outlets have reported on mounting pressure to replace him with a political appointee. ADRs fell 2% to $10.52.

 

(END) Dow Jones Newswires

February 24, 2017 16:37 ET (21:37 GMT)

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