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Global Markets and Economic Update

International Business

March 02, 1995

MEXICAN STOCKS

* Mexican stocks continued their roller- coaster ride for a third consecutive day, closing lower in light trading amid growing concern over political instability. The Bolsa index lost 2.1% on Wednesday. The market surged upward 7.1% on Tuesday after a 5.9% plunge Monday.

* Traders said foreign investors were nervous about the arrest of the brother of ex-President Carlos Salinas de Gortari in connection with last September's assassination of a ruling party official.

* Mexican Finance Minister Guillermo Ortiz said the peso is currently "very undervalued," but he emphasized that he does not seek an overvalued currency.

The Bolsa Index

Wednesday closes: 1,517.96

Source: Dow Jones & Co.

SPOTLIGHT: CHILE

The economy has shown steady growth and declining inflation in the 1990s, and exports of fruit, seafood and wine have helped keep trade in balance. Troubles in Mexico have created doubt about other Latin economies, but Chile has been earmarked as the next member of the North American Free Trade Agreement.

Sources: Bank of America, World Information Services

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