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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Art Baeckel who wrote (21190)	7/31/2000 1:13:04 PM
From: Art Baeckel	Respond to of 22640

Mexico stocks indecisive at open, peso strengthens Reuters Company News - July 31, 2000 11:21 Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Jump to first matched term MEXICO CITY, July 31 (Reuters) - Mexican stocks were down and then up near the opening of Monday's session, with eyes on market heavyweight Telmex and seeking indications of where U.S. rates might be headed, traders said. The IPC index of leading stocks was up 0.29 percent at 6363 points after an hour and a half of trading. The benchmark 48-hour peso strengthened 0.9 centavo, trading at 9.3660/9.374 per U.S. dollar, on strong demand for pesos to cover end-month positions. Phone giant Telmex, which is weighted as 30 percent of the IPC, has dragged down Mexico's bolsa for two weeks, as its shares slumped more than 20 percent over 10 trading sessions, on disappointing second-quarter earnings and reflecting volatility in the technology-heavy Nasdaq index . On Friday Telmex suffered after the office of the U.S. Trade Representative announced it was taking the first steps in launching a complaint against Mexico before the World Trade Organisation (WTO) for not guaranteeing telecommunications competition by limiting the monopolistic powers of Telmex. On Monday morning Telmex shares were off briefly, then up 0.15 peso to 23.80 pesos per share on the Mexican stock exchange, on volume of 3.1 million shares. Telmex's American Depositary Receipts (ADRs) were flat at 50-15/16. Traders said Mexican stocks had also been under pressure during early trade because of concerns that U.S. interest rates could be raised again after the U.S. economy grew a healthy 5.2 percent in the second quarter, showing little sign of cooling off. Morning trading volume on the bolsa was 13.6 million shares. Of 35 active shares, 13 were up, 16 were down and 7 were unchanged . Other helpful Mexican market information: * Main percentage gainers * Main percentage decliners * Most traded shares * Market statistics * Mexican ADRs * Mexican ADRs/Bolsa equivalent * Mexican futures (MexDer) * Mexican peso * Mexican peso bids * Mexican Cetes rates * Mexican indicators forecast * Indices display * Sector display * Warrants * Buyer/Seller IDs * Brokerage characters * Detailed information * Mexican market overview * Mexican oil prices * Domestic guide * Country news 1/8MX 3/8 Other Latin American markets: * Argentina's MerVal * Brazil's Bovespa * Chile's IPSA * Peru's IGRA * Venezuela's IBC