International Business
MEXICAN STOCKS
* Mexican stocks soared in very heavy trading as a stronger peso and news of a new international debt issue helped push the key Bolsa index to its highest close in more than a year and within 60 points of its all-time high--although it is far from an all-time high in dollar terms because of peso devaluations.
* Traders said some short-covering, healthy gains in bellwether Telefonos de Mexico and a dip in primary Cetes rates amid strong demand also contributed to the sharp climb in the stock index. Dealers added that although foreigners were more active in the American depositary receipt market in New York, there was no shortage of foreign buy orders on the local market either.
The Bolsa Index
Wednesday closes: 2,724.50
Sources: Bloomberg Business News, Dow Jones
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