By Sabela Ojea

 

International stocks trading in New York closed lower on Friday.

The S&P/BNY Mellon index of American depositary receipts fell 1.7% to $148.27. The European index dropped 1.1% to 144.91, the Asian index dived 2.6% to 169.72, the Latin American index dropped 2.3% to 187.69 and the emerging markets index decreased 2.7% to 282.86.

ADRs of BASF SE dropped 7.2% after the German chemical company said it would implement additional cost-saving measures and cut production at its Ludwigshafen site in Germany, after reporting a decline in earnings.

ADRs of Compagnie de Saint-Gobain SA climbed 2.9% after the French building-materials company said its key financial-performance indicators reached record highs in 2022 and said it plans to increase its dividend for the year.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

February 24, 2023 18:21 ET (23:21 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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