Mexican Stock Market Says PAN Candidate Won

Mexican financial markets opened sharply higher Monday as investors apparently decided that fiscally conservative Felipe Calderon will be Mexico's next president. . . .

Mexico's stock market, currency and bonds rallied sharply on news that Calderon was leading over his leftist rival Andres Manuel Lopez Obrador, though by a razor-thin margin, with 97 percent of polling stations counted.

The Mexico City stock market's IPC index of 35 leading issues rose 3.7 percent, or 709.490 points, to 19,856 in morning trading.

"It seems that they're declaring him the winner," said Carlos Gonzalez, an analyst at IXE brokerage in Mexico City, referring to local markets' reaction to Calderon's lead.