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MEXICAN STOCKS
* Bolsa Index Up 0.5%: Mexican stocks closed slightly higher in a volatile session as a sharp drop in interest rates helped the market ride out another wave of profit-taking pressures. The market’s Bolsa index ended up 13 points, or 0.5%, although it moved up 33 points, above 2,700, in early trading.
* American depositary receipts of bellwether Telefonos de Mexico, the national telephone monopoly, ended 0.8% higher to $32 on the New York Stock Exchange. Traders said Wednesday activity was speculative and there was little foreign participation. A bigger-than-expected drop in primary cetes rates at the central bank’s weekly Treasury bill auction Tuesday night provided some support to the market. Primary rates were down across the board.
The Bolsa Index
Wednesday closes: 2,680.87
Sources: Bloomberg Business News, Dow Jones
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