Tuesday, March 25, 2008

Mexican stocks jump 1.6 pct on Bear Stearns news


MEXICO CITY, March 24 (Reuters) - Mexican stocks jumped in early trade on Monday as news that JPMorgan Chase & Co had quintupled its offer to buy Bear Stearns Cos buoyed investor sentiment.

The benchmark IPC rose 1.6 percent to 29,528 points, with bellwether telecom America Movil leading the rally. (Reporting by Michael O'Boyle; Editing by James Dalgleish)

This story is significant because the stocks in a country can influence the country itself greatly. The economy can either be helped, such as in this case, or hurt which happens often as well.

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