International Business
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MEXICAN STOCKS
* Mexico’s Bolsa index surged to its highest level in six months amid hopes that lower interest rates and comments by President Ernesto Zedillo mean the country is on the road to economic recovery, traders said.
* Trading totaled 158.5 million shares worth $204 million, the largest volume since more than 160 million shares changed hands on April 25. Shares in 106 stocks changed hands; 78 issues advanced and 10 declined.
* Analysts said the decline in midterm interest rates shows that investors think inflation is under control. In May, consumer prices in Mexico rose 4.2%, almost half the 8% increase registered in April. For the first two weeks of June, prices rose 1.7%.
The Bolsa Index
Wednesday closes: 2,306.30
Sources: Dow Jones; Bloomberg Business News
SPOTLIGHT: PERU
Peru’s economy was the world’s fastest-growing in 1994, expanding by 12.9%. The country is continuing its massive privatization program, selling off state-owned mines and enterprises. Analysts say these companies are undercapitalized and neglected and will appreciate with investment.
Sources: Bank of America; World Information Services
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