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To: Xenogenetic who wrote (10)	11/27/1999 5:12:00 AM
From: Xenogenetic	Respond to of 21

Brazil's Santander Sees Bovespa Index Rising 35% In 2000 quicken.excite.com Thursday, November 25, 1999 12:31 PM SAO PAULO (Dow Jones)--Brazil's Banco Santander de Negocios SA projects the benchmark index of the Sao Paulo Stock Exchange will rise 35% in 2000, as local equities benefit from lower real interest rates and investors gradually migrate to the stock market from fixed income. Speaking at a news conference, Sergio Goldman, Santander's head of equity research, said he's "very optimistic about the performance next year," noting that the Bovespa Index could reach 18,000 points. At midsession Thursday, the index was at 13,466 points. "Lower interest rates...will have a good impact on company earnings and help push the migration from fixed income to equities," he said. Santander expects the operating income of the 33 companies in its portfolio to rise on average 16% in 2000, while the average net profit for the companies is forecast to increase 40%, as companies' financial costs should fall next year. Among sectors, Goldman said Santander's portfolio is overweight on telecommunications, principally fixed-line carriers, which "will show growth along with efficiency." The bank is also overweight on consumer-related companies, including supermarkets and food producers. Santander is slightly overweight on electric energy companies, slightly underweight on the banking sector and neutral on oil. Goldman said Santander's top six picks for 2000 are fixed line telecommunications group Tele Norte Leste Participacoes SA (TNE, news, msgs), long-distance carrier Embratel Participacoes SA (EMT, news, msgs), cable television group Globo Cabo SA (E.GBC, news, msgs), soon-to-be-privatized federal bank Banco de Estado de Sao Paulo SA (E.BEP, news, msgs), or Banespa, federal oil group Petroleo Brasileiro SA (E.PTB, news, msgs) and retail group Companhia Brasileira de Distribuicao (CBD, news, msgs), better known by its supermarket moniker Pao de Acucar. Separately, Santander equities director Edvaldo Morata said Thursday the bank will launch its online trading system in early 2000. -Stephen Wisnefski; Dow Jones Newswires; (5511) 813-1988;