Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.437

+3.7%

3:59 PM EST

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To: Steve Fancy who wrote (8192)	9/16/1998 5:18:00 PM
From: Steve Fancy	of 22640

Brazil shares down 1.77 pct after volatile day Reuters, Wednesday, September 16, 1998 at 16:36 SAO PAULO, Sept 16 (Reuters) - Brazilian shares were down almost 2 percent at the closing bell after a volatile session Wednesday that saw steep gains turn into sharp losses. The Bovespa (INDEX:$BVSP.X) index of leading shares was down 1.77 percent at 6783 points at 1700 local/1600 EDT/2000 GMT. Earlier it had surged nearly 8 percent with investors growing more confident about efforts to ease the global financial crisis. It then slid more than 5 percent on profit-taking after disappointing remarks by U.S. Fed chairman Alan Greenspan. "We had expected some profit-taking today after the very strong advances of recent days," one trader said. Copyright 1998, Reuters News Service

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