Global Markets and Economic Update
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MEXICAN STOCKS
The market inched up Wednesday, showing no appreciable response to a conservative turn by the American electorate that could affect future trade issues. The Bolsa index added 7 points to 2,618.94.
Traders said the market was more concerned with competitive issues involving phone giant Telmex. The stock jumped early in the day on rumors that AT&T; was planning a joint venture with Telmex. But shares fell when AT&T; said its planned telecommunications venture is with Grupo Alfa--which could provide competition for Telmex. Telmex’s NYSE-traded shares fell $1 to $56.
Source: Times wire services
SPOTLIGHT: PARAGUAY
The government is continuing to pursue economic reforms, including reducing budget deficits, privatizing state industries and implementing monetary restraint to reduce inflation. It is also negotiating with the International Monetary Fund and World Bank over rescheduling foreign debt.
Sources: Bank of America; World Information Services
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