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Securities Industry Mexico

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NEWS
March 3, 1989 | MARJORIE MILLER, Times Staff Writer
Opposition congressmen are accusing Mexico's ambassador to the United States, Gustavo Petricioli, of having "turned a blind eye" on illegal trading in the Mexican stock market while he served as secretary of finance in the Cabinet of former President Miguel de la Madrid.
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BUSINESS
March 20, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
New political and energy worries weighing on Argentina and Brazil sent both countries' stock markets reeling Monday as fears of renewed economic instability reverberated around the hemisphere. The effect of the U.S. economic slowdown also is taking an increasing toll. Brazil's main stock index, the Bovespa, fell 401.13 points, or 2.6%, and Argentina's fell 8.58 points, or 1.
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BUSINESS
August 16, 1993
Mexico's stock market has roared back to life with the suddenly improved prospects for the North American Free Trade Agreement. And while some investment pros wonder whether NAFTA's benefits to the Mexican economy are overstated in the short-term, most agree that the treaty's progress is crucial if Mexican stocks are to break out to new highs--which have proved elusive for the past 13 months. On Friday, the 37-stock Bolsa index in Mexico City jumped 65.63 points, or 3.7%, to 1,844.
BUSINESS
June 17, 1999 | From Bloomberg News, Times Staff
Wall Street had a good day Wednesday, but Mexico's stock market had an even better one. The main Mexican share index, the IPC, rocketed 328.60 points, or 6.2%, to end at 5,628.53, bringing its two-day gain to 10%. Merrill Lynch & Co.
BUSINESS
April 22, 1990 | JUANITA DARLING, TIMES STAFF WRITER
Even among the towers of this city's tree-lined main boulevard, the new Mexican Stock Exchange Center stands out. Sharply sloping triangles form a backdrop for a glass dome. On the inside, the skylit trading floor is ringed with video monitors flashing price changes. Visitors watching the trading from a mezzanine balcony can listen to explanations in English or Spanish.
NEWS
February 15, 1989 | MARJORIE MILLER, Times Staff Writer
The government has arrested four prominent stockbrokers and is investigating 148 others on charges of illegal trading stemming from the historic crash of the Mexican stock market in October, 1987, a spokesman for the attorney general confirmed Tuesday. The spokesman said federal police detained Eduardo Legorreta, head of Operadora de Bolsa, the country's second-largest brokerage firm, on Monday night.
BUSINESS
June 17, 1999 | From Bloomberg News, Times Staff
Wall Street had a good day Wednesday, but Mexico's stock market had an even better one. The main Mexican share index, the IPC, rocketed 328.60 points, or 6.2%, to end at 5,628.53, bringing its two-day gain to 10%. Merrill Lynch & Co.
BUSINESS
January 4, 1994 | From Reuters
Mexican stocks fell victim to political uncertainty Monday after an armed rebel uprising took place in southern Mexico, although analysts said the losses were partly linked to profit taking from recent gains. The Bolsa index of 36 leading shares fell 100.4 points, a slide of 3.86%, to 2,502.23. It was the biggest one-day percentage drop since Aug. 24, 1992, when the market tumbled 4.06%.
BUSINESS
December 12, 1991 | From Reuters
Mexican stocks tumbled for the second day in a row Wednesday on fears that free trade talks with the United States may be put on hold. The Bolsa price index fell 31.22 points, or 2.39%, to 1,273.24 points in what one analyst called panic selling, particularly among foreign investors. The Bolsa has dropped steadily since Nov. 29, with its largest loss--42.6 points--on Tuesday. "The chief cause is the possibility that the two presidents could announce a delay in the free-trade agreement.
CALIFORNIA | LOCAL
May 13, 1999 | DAVID ROSENZWEIG, TIMES STAFF WRITER
A 28-year-old stockbroker from Mexico City testified Wednesday that she was tricked into joining a scheme to launder money for the Cali drug cartel and feared she would be killed if she backed out. "When I heard they were Cali cartel, I knew I had no way out. I had to do what they said," Katy Kissel Belfer told jurors in her Los Angeles federal court trial.
BUSINESS
February 22, 1995 | TOM PETRUNO
If Mexico is no longer a place for investors per se, it should at least be a decent hunting ground for speculators--what with treasury bill interest rates of 50%-plus and some stock prices one-fifth their levels of a year ago. Or maybe not. Wall Street's "vultures," who usually flock to such market train wrecks, were largely underwhelmed Tuesday by the details of the U.S.-led bailout plan for Mexico's economy.
BUSINESS
December 28, 1994 | CHRIS KRAUL and MARK FINEMAN, TIMES STAFF WRITERS
Concern over government inaction and the specter of renewed inflation wrought havoc on Mexico's financial markets Tuesday as the peso lost another 8%, stocks and bonds tumbled and short-term interest rates skyrocketed. Investors impatiently awaiting a government plan to control the chaos made for the exits.
BUSINESS
December 27, 1994 | CHRIS KRAUL, TIMES STAFF WRITER
The Mexican peso lost more value against the U.S. dollar on Mexico's currency markets Monday as jittery investors anticipated declining interest in Mexican securities and continuing political unrest in Chiapas. The peso slipped more than 30% against the dollar last week after the Mexican government decided to let its value float freely against the dollar.
BUSINESS
December 24, 1994 | MARK FINEMAN, TIMES STAFF WRITER
The peso stabilized on international markets Friday, but the Mexican currency's plunge this week led a top Wall Street firm to cut its rating of Mexico's foreign debt and shattered efforts to forecast what will happen to the nation's economy in the coming year. Retailers and shoppers here also said the devaluation--which began Tuesday and drove the peso down nearly 30% against the U.S.
BUSINESS
May 11, 1991 | From Staff and Wire Reports
Mexican stocks closed slightly lower in heavy trading Friday, after the Bolsa index topped the historic 1-million-point mark in the first 30 minutes of trading. The 39-stock Bolsa closed the session off 3,393 points at 989,836. It had traded as high as 1,022,199 in the morning, a new record. For the week, the index rose 63,270 points, or 6.8%--the 11th straight week of gains.
BUSINESS
February 14, 1989 | From Associated Press
The government moved Monday to issue arrest warrants for 150 employees of stock brokerage firms on charges of illegal trading related to the October, 1987, stock market crash, the government news agency said. The Notimex agency quoted Treasury Secretary Pedro Aspe as saying he asked the federal attorney general to issue arrest warrants for employees of the Operadora de Bolsa and Mexicana de Valores e Inversiones firms.
BUSINESS
December 23, 1994 | JESUS SANCHEZ, TIMES STAFF WRITER
The Mexican fiscal crisis has eroded the value of dozens of U.S. mutual funds and prompted American firms to re-evaluate their investment plans, undermining international confidence in Mexico's economy less than a year after the signing of a free-trade pact that brought high hopes for a new era of prosperity. A wide range of foreign investors--ranging from corporate giants such as Ford Motor Co. and Wal-Mart Stores Inc.
BUSINESS
December 22, 1994 | MARK FINEMAN, TIMES STAFF WRITER
Trading slips littered the floor of the Mexican stock market at the close Wednesday as investors--reacting to the peso's sharp drop and lingering uncertainty in the southern state of Chiapas--drove the market index down as much as 10% in heavy trading before recovering most of its losses.
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