Global Markets and Economic Update
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MEXICAN STOCKS
* The market can’t seem to get back in gear, despite the government’s peace settlement with the Chiapas rebels. On Tuesday, the Bolsa gave back most of Monday’s gains, dropping 30.48 points to 2,571.41.
* Part of the market’s problem stems from the Chiapas settlement: Peace commissioner Manuel Camacho Solis is rumored to be quitting the ruling PRI party to run for president, a move that would, in effect, split the party. The deadline to file for the August election is Tuesday.
* Meanwhile, Telmex continues to be a drag on the market. The NYSE-listed shares fell $1.875 to $67 on Tuesday on vague rumors about a dividend change.
Source: D.A. Campbell, Times research
SPOTLIGHT: ARGENTINA
Argentina has made great strides in taming its economy, particularly in curing the hyperinflation of the 1980s. The government has also slashed its bloated bureaucracy and begun a program of privatizing state-owned industries in an effort to produce a more efficient economy.
Sources: Bank of America; World Information Services
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