International Business : Global Markets and Economic Update


* The market was closed Tuesday and Wednesday for consecutive holidays. The first marked outgoing President Carlos Salinas de Gortari's final state of the union address; the second marked the Day of the Dead celebrations. The Bolsa index had finished Monday at 2,552.08, off 19.44 points for the day.

* In his speech, Salinas sought to put a positive spin on Mexico's turbulent year of uprisings, political assassinations and a slumping peso. He said the country had been tested and proved resilient. The stock market, while volatile all year, is now only slightly below its 1993 close of 2,602.63 as measured by the Bolsa index.

Source: Times wire services


The nation has been through a series of painful economic reforms, including privatization of state industries, since longtime Communist dictator Nicolae Ceausescu was overthrown and executed in 1989. Reform has been met with sometimes violent street demonstrations over rising prices and other hardships.

Sources: Bank of America; World Information Services

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