International Business : Global Markets and Economic Update
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Foreign Stock Markets
Stock index trends in native currencies and in U.S. dollars adjusted for currency fluctuations. The dollar-adjusted returns are what U.S. investors would realize.
Source: Morgan Stanley Capital International (Tuesday closes)
MEXICAN STOCKS
Mexican stocks declined for the fourth day amid concerns that higher interest rates will crimp corporate earnings and that violence in Chiapas state will keep foreign investors away from Mexico. “The fundamental problem is that Chiapas will be a sore spot for investors until peace talks begin” with the area’s rebels, said Gonzalo Moreno, head equity trader at Indosuez Mexico.
New York shares of Telefonos de Mexico, worth 25% of the Bolsa index, rose 0.73% to close at 51.625. On Tuesday, Telmex and Sprint announced that Telmex would join a long-distance telephone alliance with France Telecom and Deutsche Telekom to form a global phone network.
Source: Bloomberg Business News
SPOTLIGHT: IVORY COAST
The economy has deteriorated largely because of a decline in world prices for cocoa and coffee and the depletion of the nation’s forests. Efforts to impose economic austerity have led to civil unrest, but the International Monetary Fund and the World Bank are pressing for reforms before granting new loan credits.
Sources: Bank of America; World Information Services
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