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Global Markets and Economic Update

International Business

November 02, 1995

MEXICAN STOCKS

* Mexican stocks closed slightly higher Wednesday in very light trading as a late mini-rally in the peso helped spark some speculative buying. The Bolsa index tumbled to an intra-day low of 2,265.51, 1.6% below Tuesday's close, after the peso plunged as low as 7.4450 to the dollar in late-morning trading. "Everybody was watching the peso today," a Mexico City stock trader said.

* Newspapers in Mexico have reported some criticism of the government's plan to revive the economy. Reforma quoted business leaders who said higher minimum wages and higher utility costs would be unfair to companies and to workers.

* The number of Mexicans with full-time employment increased by 2,867 in September and 1,327 in August, according to the Social Security Institute. The agency said that as of Sept. 30, 8.4 million Mexicans had full-time jobs with insurance benefits, down 5% from 8.82 million last December.

The Bolsa Index

Wednesday closes: 2,305.95

Source: Times, wire reports

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