Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.692

-2.0%

Dec 12 9:30 AM EST

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To: Steve Fancy who wrote (475)	12/2/1997 7:56:00 PM
From: Steve Fancy	of 22640

uesday December 2, 3:03 pm Eastern Time Brazil shares climb 3.04 pct ahead of close SAO PAULO, Dec 2 (Reuters) - Brazilian shares rose 3.04 percent in late afternoon trade, boosted by an endoresment of the nation's fiscal plan from U.S. Treasury Secretary Robert Rubin, traders said. ''Secretary Rubin said he liked the package and that helped us out,'' said John Carioba of local Indusval brokerage. The Bovespa index (.BVSP) of 51-leading shares rose 293 points to 9942, with benchmark Telebras preferred (TEL_p.SA) up 3.91 percent at 122.50. In addition to Rubin's endorsement, which came during a regional finance ministers' meeting in Santiago, Chile, strong statements by President Fernando Henrique Cardoso to defend the real currency also strengthened the market, traders said. Cardoso made his comments in London Tuesday, the second day of an official visit to England.

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