Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 1.065

-2.3%

Nov 17 3:59 PM EST

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To: Steve Fancy who wrote (6985)	8/21/1998 2:06:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Merrill Lynch Says Outlook For Latam Banks More Negative Dow Jones Newswires MEXICO CITY -- New York investment bank Merrill Lynch downgraded Friday the outlook for Latin America's banking sector based on probable deterioration in macroeconomic indicators as well as continued weakness in global capital markets. "Coupled with more pessimism towards emerging markets in general, we think that trading multiples are bound to decline sharply in the intermediate term," bank analysts Rodrigo Quintanilla and Alejandro Schecter said in a note to investors. The current environment presents "fundamental challenges for the banks in the region" in the form of higher interest rates, potential currency weakness, slowing loan growth opportunities and the potential drop in the value of the banks' fixed income and equity portfolios, they said.

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