Telebras (TBH) & Brazil Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Telebras (TBH) & Brazil

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: chirodoc who wrote (237)	9/6/1997 12:49:00 PM
From: chirodoc	of 22640

ADR REPORT - Telebras heads LatAm rise By Ian Simpson NEW YORK, Sept 5 (Reuter) - Brazilian telephone holding Telebras SA (TEL_P.SA) rose in heavy trade Friday, heading a Latin American rise in American Depositary Receipts (ADRs). Traders said Telebras and other Latin American blue chips were helped in part by the overnight rise in Asian markets. The rebound relieved worries that currency turmoil that has shaken Southeast Asia could spread to Latin America, especially Brazil. ``Asia is doing a lot better and that (had been) a reason why people were selling Brazil'' and were worried about the region, said Curtis Butler, vice president in the emerging markets group at Lazard Freres & Co. The recent steep drop in Brazilian shares ``was too much. It was overdone and investors are responding to that,'' he said. Telebras was up 4-1/16 to 133-15/16 and was among the most heavily traded issues on the New York Stock Exchange. Traders said the ADRs were also helped by speculation the government would revise downward the trade deficit for the first half of 1997. chirodoc

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next