Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.435

+8.7%

Jan 2 9:30 AM EST

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To: Steve Fancy who wrote (8565)	9/28/1998 1:22:00 PM
From: Steve Fancy	of 22640

Brazil Bovespa (INDEX:$BVSP.X) jumps on hopes of rates cut Reuters, Monday, September 28, 1998 at 09:35 SAO PAULO, Sept 28 (Reuters) - Brazilian shares rose in early trade on Monday on optimism U.S. Federal Reserve Chairman Alan Greenspan will cut U.S. interest rates at its Tuesday meeting, traders said. "The market's optimistic we'll see a rates cut tomorrow," a trader at a local brokerage said. Sao Paulo's key Bovespa index of the most-traded shares jumped 3.02 percent to 6,914 points. Traders said expectations of gains on Wall Street boosted shares. The Federal Reserve meets tomorrow and is seen cutting interest rates in the United States, which could make emerging markets more attractive, traders said. The most heavily traded shares led the market's rise. Telebras receipts (SAO:RCTB40) surged 3.51 percent to 88.50 reais while Petrobras preferred jumped 4.88 percent to 129 reais. Copyright 1998, Reuters News Service

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