International Business
- Share via
MEXICAN STOCKS
* Stocks gave ground again Wednesday as the peso fell to a record low against the dollar for the second straight day. The Bolsa index lost 25.68 points to 1,498.52. In New York Stock Exchange trading, Telmex dropped $1.375 to $24.375; the lowest the stock ever traded was $24.25 in 1991.
* The only surprise, some traders say, is that stocks have not collapsed completely in the face of sky-high short-term interest rates. Yields on three and six-month Mexican treasury bills, or cetes, reached 59% and 59.99%, respectively, at Wednesday’s central bank auction--the highest since March, 1988, and November, 1987, respectively.
The Bolsa Index
Wednesday closes: 1,498.52
Sources: Times wire services
SPOTLIGHT: KENYA
Nairobi continues to be a major hub in East Africa, boasting the region’s best transportation links, communications infrastructure and trained personnel. Although low rainfall has hurt Kenya’s agriculture, its agricultural production contributes 26% of the gross domestic product and employs 76% of the labor force.
Sources: Bank of America, World Information Services
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
