International Business
MEXICAN STOCKS
* The Bolsa index jumped past the 2,000 mark for the first time since a bout of profit taking last week. The index gained 34.61 points to 2,019.57.
* Analysts attributed stocks’ strength to a modest decline in interest rates at this week’s auction of Mexican treasury bills and a surprisingly strong quarterly earnings report from cement giant Cemex, which said its profit almost tripled from a year ago. In general, earnings have not been as bad as expected amid Mexico’s financial crisis.
* The continued firmness of the peso--which closed at 5.78 to the dollar--is also encouraging stock investors, analysts say.
The Bolsa Index: Wednesday closes
May, 1995: 2,019.57
Sources: Reuters, Bloomberg Business News
SPOTLIGHT: PHILIPPINES
The economy has gained strength with of the Asian boom. To ensure continued expansion, President Fidel V. Ramos has pushed for privatized infrastructure projects, seeking investors to develop power plants, build highways and improve telecommunications systems.
* Sources: Bank of America, World Information Services
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