International Business
MEXICAN STOCKS
* The Bolsa index fell for a third straight session on Wednesday, losing 8.31 points to 2,578.76, the lowest level so far this month.
* Analysts say some local investors are simply taking profits after the market’s strong run since late June, which by last Friday had boosted prices to the highest levels since October. “It’s Mexicans who are selling; most foreigners are standing on the sidelines,†one trader said.
* Interest rates have stabilized recently, but still are high as the country’s economy remains in crisis. The rate on 28-day treasury bills at this week’s auction was 34%, up 0.10 point from last week. The one-year yield fell 1.01 points to 35.88%.
The Bolsa Index
Wednesday closes: 2,578.76
Source: Bloomberg Business News
SPOTLIGHT: AUSTRIA Since 1992, depressed exports and high domestic production costs have fed Austria’s nearly $50 billion deficit, hampering financial growth and increasing unemployment. Declines in manufacturing (26% of the GDP) and tourism, which employs one in every six Austrians, have not helped the nation’s flagging economy. Sources: Bank of America, World Information Services
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