International Business
MEXICAN STOCKS
* Mexican stocks fell for a fourth day after a tumbling peso and rising interest rates hurt the outlook for company earnings.
* The outlook for higher rates, a weaker peso and lower company earnings will prevent many investors from buying Mexican stocks through the end of the year, analysts said. Minister of Finance Guillermo Ortiz said Mexico’s economy won’t post higher growth until at least June.
* Earnings at the nation’s soft drink companies could fall if they are forced to raise prices. Mexico is in the midst of its longest sugar-refinery shutdown in history, with cane suppliers refusing to deliver this year’s harvest until sugar refinery operators pay them 40% more than they did last year.
The Bolsa Index
Wednesday closes: 2,586.11
Sources: Bloomberg Business News, Dow Jones
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