Global Markets and Economic Update : FOREIGN STOCK MARKETS

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

MEXICAN STOCKS

The Bolsa index fell for a fifth consecutive session on Tuesday, losing 18.24 points to 2,760.59, as the market’s orderly bout of profit-taking continued. The Bolsa now is off 4.2% from its all-time high of 2,881.17 reached on Feb. 8.

Traders said the market simply became overbought in recent weeks, and that it was natural that some investors wanted to take some chips off the table. Some also may be waiting to see if the recent downward trend in Mexican interest rates continues. The government auctions treasury bills, or cetes , each Wednesday; at last week’s auction, rates on 28-day cetes hit a historic low of 9.72%.

The Bolsa Index: 2,760.9

Source: D.A. Campbell, Reuter

SPOTLIGHT: BULGARIA

The government’s aim, as it has moved away from communists’ central planning, has been to orient the economy from heavy industry to emphasize tourism, light manufacturing and farming. The transition has meant high unemployment, but the economy is expected to pick up this year.

Sources: Bank of America; World Information Services