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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.740-1.3%Dec 8 3:59 PM EST

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To: Jerry A. Laska who wrote (6524)8/11/1998 6:29:00 PM
From: Steve Fancy   of 22640
 
Brazil's Bovespa -4.5% At 1535 GMT; Telebras -5.1%

Dow Jones Newswires

SAO PAULO -- Brazilian stock prices were posting sharp losses at
midday Tuesday as markets slump worldwide on worries over the Asian
and Russian economies.

At 1545 GMT, the Sao Paulo Stock Exchange's Bovespa Index was off
321 points or 4.6% at 8761 after dropping as much as 5.7%. Volume was
moderate at 300 million reals (BRL) ($1=BRL1.17).

The benchmark stock Telebras was down 4.8% or BRL5.80 to
BRL114.20 per thousand shares.

Traders said they had detected some institutional support in Telebras on
Tuesday and late Monday.
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