International Business : Global Markets and Economic Update
MEXICAN STOCKS
* The market edged up Wednesday after four days of deep losses, with the Bolsa index rising 1.62 points to 2,580.00. It had tumbled to an 11-week low earlier in the day, on carry-over selling from Tuesday.
* Another rise in Mexican short-term interest rates weighed on stocks, but analysts noted that much of this week’s selloff stemmed from disappointment over third-quarter corporate earnings reports. Phone giant Telmex’s lower-than-expected results, released Tuesday, sparked a plunge in the Bolsa that left it down 55 points at the close that day. Telmex said foreign currency fluctuations and higher expenses hurt earnings.
Sources: Times wire services
SPOTLIGHT: SWITZERLAND
For many years among the most prosperous countries in the world, Switzerland has seen its economic fortunes fall recently, in part because of a decline in the reputation of its important banking sector and the recession that has hit its trading partners in Western Europe.
Sources: Bank of America; World Information Services
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