International Business

MEXICAN STOCKS

* A drop in interest rates fueled a surge in construction-related stocks, and that pushed the market overall to a five-month high Wednesday. The Bolsa index jumped 60.98 points to 2,173.68.

* Rates on 28-day treasury bills, or cetes, fell to 40.75% at Tuesday’s auction, down from 44.25% last week and the lowest since mid-February. Traders say rates are dropping as investor optimism grows that the economic fallout from December’s peso collapse will be less severe than expected.

* The government said it is planning a program to help domestic banks and construction companies restructure loans made to build toll roads.

The Bolsa Index

Wednesday closes: 2,173.68

Sources: Bloomberg Business News

SPOTLIGHT: NEW ZEALAND

With 84% of the population residing in cities, social spending is intense--community and social service jobs make up 28.4% of the labor force. But since the late 1980s, the government has sold assets and slashed social expenditures. Tourism is the largest source of foreign exchange.

Sources: Bank of America; World Information Services