Global Markets and Economic Update : International Business
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MEXICAN STOCKS
* The market continues to edge lower, hurt by Wall Street’s latest bout with bearishness. The Bolsa index fell 33.52 points to 2,179.57 on Wednesday, even though interest rates dropped at the weekly treasury bill, or cetes, auction. Only 28-day cetes were sold, and their yield eased to 16.02% from 16.49% last week.
* Traders said some foreign investors took profits Wednesday, ahead of today’s historic debate among Mexico’s three leading presidential candidates. Also, on Friday the government is expected to report on first-quarter economic growth. Investors expect to see little growth in the report, but not recession.
Sources: D.A. Campbell; Times wire services
SPOTLIGHT: COSTA RICA
Except for a brief civil war in 1948, the nation has been a stable democracy for more than 100 years, which has made it an attractive destination for tourists and foreign investment. Such factors and massive U.S. aid in the 1980s have kept the economy stable even as coffee and banana markets have faltered.
Sources: Bank of America; World Information Services
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