International Business
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MEXICAN STOCKS
* The Bolsa index managed its first gain in peso terms in more than a week, rising 0.83 point to 1,792.75 on Wednesday.
* An expected rise in interest rates at the weekly auction of Mexican treasury bills failed to occur, and that helped the stock market’s mood. Some investors sought higher bill rates, but enough low bidders surfaced to keep rates level with last week--at 76.5% for 28-day bills, for example.
* Still, analysts worry that upcoming first-quarter corporate earnings reports will be horrendous in the wake of the country’s economic crisis and that stock demand will be further depressed.
The Bolsa Index
Wednesday closes: 1,792.75
Sources: Bloomberg Business News, Reuters
SPOTLIGHT: GREECE
Membership in the European Union has affected all aspects of the economy. Small businesses have had to adjust to competition from large EU firms, while the government has had to liberalize its economic policies. EU sanctions against the former Yugoslavia have slowed tourism, a main source of income.
Sources: Bank of America, World Information Services
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