International Business
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MEXICAN STOCKS
* Mexican stocks rose as investors bet that lower interest rates and signs of a stronger economy would boost company earnings later this year, analysts said.
* In addition to lower Mexican interest rates, which are expected to fall further after U.S. rates were cut, investors were encouraged by the fall in the country’s inflation rate and its $2.2 billion trade surplus through May, said Virginia Valentino, a trader at Abaco International In New York. Mexico’s inflation rate fell to 3.2% in June from 8% in April.
* The Bolsa is up 28% in the last month. Foreign investment in Mexican equities rose 8.6% in June.
The Bolsa Index
Wednesday closes: 2,526.04
Source: Bloomberg Business News, Dow Jones
SPOTLIGHT: SWEDEN
Sweden voted to join the European Union, bridging icy Arctic waters with new trade lifelines. Business and political leaders see the move as a way to save Sweden’s generous social programs while revitalizing its economy. In recent years, Sweden has cut taxes, limited social spending and sold state enterprises.
Sources: Bank of America, World Information Services
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