International Business

MEXICAN STOCKS

* Mexican stocks experienced their biggest single-day drop in more than a month amid moderate trading. The market swung into profit taking despite a sharp drop in rates at Tuesday’s primary weekly auction of treasury bills.

* Bellwether 28-day government bonds dropped for the fifth straight week Tuesday, falling 10.26 percentage points to 48%. That is the lowest rate recorded for the 28-day government paper at a primary weekly auction since Feb. 15.

* The peso fell to its lowest level in five weeks, raising concerns about company earnings. The currency slipped 0.89% to 6.03 per dollar.

The Bolsa Index

Wednesday closes: 2,044.83

Sources: Bloomberg Business News, Dow Jones

SPOTLIGHT: INDIA

The economic reforms India launched in 1991 have attracted foreign investors. More than $1.4 billion worth of transactions with U.S. firms were announced in January, most in telecommunications and power production. Many obstacles remain, however, including high tariffs and cumbersome regulations.

Sources: Bank of America, World Information Services