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Technology Stocks : Nuevo Grupo Iusacell (CEL) -- Ignore unavailable to you. Want to Upgrade?

To: Rob Preuss who wrote (14)	12/3/1999 4:41:00 PM
From: Nancy Haft	Respond to of 206

Looks like CEL contrary to rest of market today. (Bold emphasis mine in release below) Friday December 3, 3:15 pm Eastern Time ADR Report-Strategists bullish on Latam issues NEW YORK, Dec 3 (Reuters) - Latin American ADRs, or American Depositary Receipts, rose Friday amid a widespread rally as Wall Street strategists urged investors not to take profits because emerging equity markets still have room to grow. The Bank of New York index of Latin American ADRs climbed 1.69 percent to 104.42 while the Dow Jones industrial average soared more than 250 points to 11298. The Nasdaq composite index and the Standard & Poor's 500 index were in record territory. Latin telecommunications ADRs, particularly the Brazilian companies, extended gains. Telebras (NYSE:TBH - news) rose 3-1/4 to 100-15/16. Tele Centro Sul (NYSE:TCS - news) gained 3 to 75, just off a high of 76-1/8. Tele Sudeste (NYSE:TSD - news) was up 2-15/16 to 26-3/4. Mexico's Telefonos de Mexico (NYSE:TMX - news) ADRs gained 2 points to trade at 101-7/16, off a high of 102-1/2. ''I believe that the Latin wireless telecoms offer some of the best technology-related opportunities in the emerging market universe,'' said Robert Pelofsky, analyst at Morgan Stanley Dean Witter. Morgan Stanley said news from emerging markets supports a positive outlook for year-ahead performance and for the economic backdrop in 2000. ''We anticipate a healthy pause in December and an active January-February to round out the best year-end performance since the 12 percent gain in 1995-1996,'' Pelofsky said in a research report. Salomon Smith Barney noted the recent rally in Latin American issues is only the ninth largest for the region since 1990. Geoffrey Dennis, senior analyst at Salomon, said the surge still has upswing potential. ''We do not recommend a profit-taking strategy,'' Dennis said. ''However we do expect some profit-taking, as investors cash in gains before the expected collapse of volumes in December and the Y2K event itself.'' The following are other Latin American market highlights: * MEXICO: Television broadcasters' ADRs jumped after Credit Suisse First Boston started coverage on the two companies with buy ratings. Grupo Televisa (NYSE:TV - news) gained 2-9/16 to 53, near a 52-week high of 53-15/16. Credit Suisse initiated the company with a buy rating and a $63 price target on the ADR. TV Azteca (NYSE:TZA - news) rose 7/16 to 6-3/8, still off a high of 8-3/16. Credit Suisse placed a trading buy recommendation on the ADR and a 12-month price target of $8. Mexico's IPC index (^IPC - news) was up 1.879 to 6490, a new year high. ARGENTINA Telecom Argentina (NYSE:TEO - news) gained 1-9/16 to 32-3/4. The common stock rose in Buenos Aires due to what a broker described as a rebound after a period of lagging other leading Argentine shares. Telecom's main competitor, Telefonica de Argentina (NYSE:TAR - news), saw its ADR unchanged at 27-13/16. Argentina's Merval (^MERV - news)gained 1.04 percent to 560. * PERU: President Alberto Fujimori said the economy in October grew about 5.0 percent year-on-year, above market expectations, compared with a 1.7 percent contraction in the same month of 1998. Lima's general index (^IGRA - news) slipped .22 percent to 1816

To: Rob Preuss who wrote (14)	12/3/1999 4:46:00 PM
From: Nancy Haft	Read Replies (3) \| Respond to of 206

new rules coming from Cofetel to curb dominance of Telmex. Friday December 3, 2:56 pm Eastern Time Inflation, rules harm Mexico business, Slim says MEXICO CITY, Dec 3 (Reuters) - Chronic double-digit inflation and too many regulations are stifling Mexican business, Mexican magnate Carlos Slim told Reforma newspaper in an interview published on Friday. ''I would say that in Mexico we need to deregulate substantially, so that new businesses would not suffer such a high mortality rate,'' Slim, Mexico's richest person, told Reforma. Slim, whose sprawling business holdings range from the telephone giant Telefonos de Mexico (Telmex) (NYSE:TMX - news) to a chain of pastry shops, is one of Latin America's richest business people, according to Forbes magazine. Mexico's telecommunications regulatory agency, known as Cofetel, is close to publishing new rules to curb the market dominance of Telmex, which Slim purchased from the state in 1990 and which is the largest publicly traded Latin American country in terms of sales. In the interview, Slim did not reveal specifics on his business empire -- which also includes retail chains, financial services and a cable television investment -- but said he was getting ready for a long trip to the United States and Europe, including stops in New York, Madrid and Rome, where he could possibly work on finance and telecommunications deals. He also harped to Reforma about his pet peeve, double digit inflation in Mexico. He said inflation ''privileges the financial economy over the real economy, causes difficulty for getting credit, and has caused problems for banks because high interest rates have made it impossible for debtors to make payments.'' Mexico's inflation is widely expected to come in below 13 percent this year and the government hopes to limit it to 10 percent in 2000. Slim, who has aggressively acquired Internet and high-tech related interests this year in Mexico and abroad, said ''I don't believe in limits,'' when Reforma asked him about the information age's future. Although he recognized a certain overvaluation of Internet businesses he said he maintains his faith in the progress of technology. "I see in the next few years growth will be enormous, very fast and it will continue at a strong pace, I don't see it putting on the brakes