Mexican stocks rallyThe Mexican stock market staged...

BUSINESS DIGEST

January 17, 1995

Mexican stocks rally

The Mexican stock market staged another modest rally yesterday, but most investors were more preoccupied with today's scheduled auction of $300 million in government bonds, which will be widely interpreted as a gauge of confidence in Mexico's ability to recover from its economic crisis.

The Mexican market's price index rose 1.19 percent yesterday, closing at 2,243. Partly on fears of low demand at the tesebono auction, the peso lost about 3 percent of its value against the dollar.

Since the Dec. 20 peso devaluation, investors have shunned tesobonos despite steadily rising interest rates. The cold shoulder has been a blow to the Mexican government, which must pay bondholders the peso equivalent of $29 billion in bills coming due this year if they are not rolled over.

Record set at Bethlehem

The continuous caster at Bethlehem Steel Corp.'s Sparrows Point steel mill set a North American record in December for a caster of its size by producing 327,924 tons of steel slabs. The Baltimore County mill also broke an annual production record by making 3.6 million tons of steel last year.

Giant's social policy lauded

Giant Food Inc., a Landover-based grocer that has most of its stores in the Baltimore and Washington areas, was among the top 20 U.S. companies commended for social responsibility by the Council on Economic Priorities. The New York-based council rated 191 corporations for their policies on the environment, family benefits, charity, community outreach, opportunities for minorities and women, workplace issues and corporate disclosure.

Phone-video consortium

Walt Disney Co. and its three partners -- Ameritech, SBC Communications and BellSouth -- are close to investing a total of $500 million in a venture to help provide video programming to their telephone customers, sources said yesterday.

Ameritech Corp., BellSouth Corp., SBC Communications Inc. (formerly Southwestern Bell) and Disney say they expect to finalize their talks on interactive television within weeks. SBC Communications was formerly Southwestern Bell.

Nasdaq removes MicroCarb

MicroCarb Inc.'s securities were deleted Thursday from the Nasdaq trading system because the company no longer meets the Nasdaq capital and surplus listing requirement.

The Gaithersburg biopharmaceutical company's securities, which include common stock, warrants and units, remain eligible for trading by subscribing market makers on the OTC Bulletin Board.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.