Global Markets and Economic Update : MEXICAN STOCKS
* The Bolsa index got a lift with Wall Street on Wednesday, closing up 42.69 points to 2,798.22. Traders said the minor profit taking that occurred Tuesday only encouraged new buyers Wednesday, as investors continued to cheer the ruling party’s victory in Sunday’s presidential election.
* There was some disappointment that rates on 28-day treasury bills auctioned Wednesday rose slightly, to 13.49%. Analysts had expected rates to ease given the election’s outcome. Rates may have been affected by a fall in the peso, on renewed worries about post-election violence. It took 3.356 pesos to buy $1 on Wednesday, up from 3.342 on Tuesday.
The Bolsa Index
Wednesday closes: 2,798.22
Source: Times research
SPOTLIGHT: BANGLADESH
Long one of the world’s poorest countries, Bangladesh appeared to be making substantial economic improvements in the mid-1980s. But the 1990 Persian Gulf War was a major setback, costing about half a billion dollars in remittances from Bangladesh workers employed in Kuwait and export earnings from Kuwait and Iraq.
Sources: Bank of America; World Information Services
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