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Global Markets and Economic Update

January 19, 1994


Stock index trends in native currencies and in dollars adjusted for currency fluctuations. The dollar-adjusted returns are what U.S. investors would realize.

Source: Morgan Stanley Capital International


* The Bolsa continues to seesaw, rising 50.29 points to 2,556.62 on Tuesday. It plummeted 49 points last Friday, then gained 19.65 points Monday. The rebel uprising in the south remains the dominant concern. There was new hope Tuesday for an end to the crisis: The government said talks with rebels were advancing, with the Catholic Church serving as an intermediary.

* U.S. investors don't appear to believe that the rebellion will set back Mexico's economic program. Indeed, demand for Telmex shares traded Tuesday on the New York Stock Exchange helped buoy sentiment in Mexico City: Telmex's NYSE shares jumped $1.75 to close at $67.25.

Source: D.A. Campbell


Known as the sick man of the new Europe, Greece suffers from inflation and unemployment. Socialist Prime Minister Andreas Papandreou has promised to overturn the austerity program begun by the conservatives to bring Greece in line with the European Union.

Sources: Bank of America; World Information Services

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