ADRs in Focus: Latin American ADRs decline

The Bank of New York Latin America ADR Index dropped 1.69 points, or 0.34 percent, to 494.04 in afternoon trading.

A report from the National Association of Realtors on Friday said existing U.S. home sales fell 1 percent in April, the eighth decline in nine months. Meanwhile, the group said the backlog of unsold single-family homes rose to their highest level in more than two decades.

The downturn in sales was modestly better than the 1.6 percent drop analyst were expecting, but highlighted the continued weakness in the U.S. housing market as home sales and prices decline while home foreclosure rates climb.

The biggest decliner on the Latin American index was Argentina-based bank Grupo Financiero Galicia SA, which fell 29 cents, or 4.9 percent, to $5.65.

Argentina's Banco Macro SA slipped 87 cents, or 4 percent, to $21.04.

BBVA Banco Frances SA declined 16 cents, or 2.5 percent, to $6.26.

Among the gainers, Mexican beverage maker Fomento Economico Mexicano SAB de CV added $2.05, or 4.7 percent, to $46.75 after reaching a fresh 52-week high of $47.20.

Several Latin American beverage makers traded higher after the Financial Times reported that Europe's InBev SA--the world's largest brewer by volume--may make a $46 billion bid for Anheuser-Busch.

Brazilian meat maker Sadia SA climbed 90 cents, or 4 percent, to $23.60.