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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 (8793)10/4/1998 11:26:00 AM
From: Steve Fancy   of 22640
 
Polls open in Brazil general election

Reuters, Sunday, October 04, 1998 at 07:13

SAO PAULO, Oct 4 (Reuters) - Polling booths across Brazil
opened at 7 a.m. EDT (1100 GMT) on Sunday for the nation's 106
million voters who will choose a president, congressmen and
state governors.
President Fernando Henrique Cardoso was widely expected to
win an unprecedented second term in office as voters look to
him to lead the nation out of its worst financial crisis in
years.
Exit polls are due out immediately after polls close at 4
p.m. EDT (2000 GMT). Official preliminary results are expected
after 6 p.m. EDT (2200 GMT).
An opinion poll on Saturday showed the social democrat
Cardoso, 67, favored by 49 percent of voters versus 24 percent
for his main challenger left-wing Luiz Inacio Lula da Silva.
The poll put Cardoso 12 points ahead of the combined total of
all his rivals.
Cardoso needs just one vote more than all his opponents
together to win in a first round vote.
Cardoso developed a reputation as an economic problem
solver after slashing inflation from nearly 3,000 percent when
he was elected in 1994 to 1 percent today. Analysts say
Brazilians hope he can restore faith in Latin America's largest
nation, which has lost some $30 billion in capital flight since
Russia devalued in mid-August, causing an investor retreat from
emerging markets.

Copyright 1998, Reuters News Service
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