International Business

MEXICAN STOCKS

* Mexican stocks fell for the fourth day, to their lowest levels in 12 weeks, amid concern that rising interest rates and a sliding peso will hurt company earnings.

* Also, rising political turmoil--the result of the nation’s first recession since 1986--and the perception that President Ernesto Zedillo isn’t strong enough to maintain his economic austerity program weighed on stocks and the currency.

* “The economy doesn’t look to be on all that solid a footing,” said David Beckwith, who helps manage global equities for John Hancock Advisors Inc. in Boston. “Frankly, I’m inclined to look at markets around the world which are on more solid footing.”

The Bolsa Index

Wednesday closes: 2,343.06

Source: Bloomberg Business News

SPOTLIGHT: NORWAY

Nine months after its much-maligned rejection of European Union membership, Norway is prospering. Newfound oil sources in the North Sea (petroleum accounts for 40% of all exports), rising industrial investment and year-end GDP growth approaching 4.8% have given a boost to Prime Minister Gro Harlem Brundtland.

Source: Bank of America World Information Services