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

To: Art Baeckel who wrote (21220)	8/3/2000 7:52:17 AM
From: Art Baeckel	Read Replies (1) \| Respond to of 22640

Latin America Financial Markets Summary-Aug. 2 Futures World News - August 02, 2000 18:39 Jump to first matched term Aug. 2-MAR-- [B] Latin America Financial Markets Summary-Aug. 2 ARGENTINA: --STOCKS: Argentina's Merval remained unchanged at 488.85 Wednesday. Tuesday's late release of mediocre July tax collection set the tone for the session. Favorable international markets helped some shares, while others suffered on investors' concerns over the country's economic health. Grupo Financiero Galicia climbed 1.1%. Steel maker Siderar fell 3.3%. End (Closing data .1331) Stock chart: Media://Analytics/Pages:Merval:/cmd=AR;MER[1099ID;60;20]/NVO --INTEREST RATES: Argentine bond prices ended lower in mixed trading after investors were disappointed by lower-than-expected July tax collection results. The Bonte 2002 fell 10 basis points to 97.15. July revenue was up 3.7%, a bit lower than the 4% forecasted by the government. Meanwhile, overnight peso and dollar call rates declined to 6.80% and 6.90%, respectively. Glimpse tomorrow today: .4340 Argentina news stories from Bridge News Media://NewsSearch::/Source=mar/String=Argentina/newest/Search Argentina news stories from all vendors Media://NewsSearch::/String=Argentina/go/Search BRAZIL --STOCKS: Brazil's benchmark Sao Paulo Bovespa stock index rose 25 points, or 0.15%, to 16,314, despite a bout of profit-taking late in trading. The index rose more than 200 points in early trading on ideas the U.S. economy may finally be heading for a soft landing, making further interest rate hikes unnecessary. The hefty gains brought profit-takers toward the end of the day. (Closing data .1332) Stock chart: Media://Analytics/Pages:Bovespa:/cmd=BR;IBOV[1099ID;60;20]/NVO --INTEREST RATES: September interest rate futures closed at 16.41% Wednesday, down from 16.59% Tuesday on signs the U.S. economy may finally be cooling. A decline in U.S. housing sales led many analysts to believe the economy may be coming in for a soft landing with no need of further hikes in interest rates. Any U.S. hike would have a knock-on effect for Brazil. --REAL: The Brazilian real sagged heavily Wednesday as traders fretted over testimony due Thursday from the key witness in a recent corruption scandal. Further, expectations the central bank would only partially roll over dollar-indexed debt coming due Friday, thus increasing demand for spot dollars, helped push the real weaker to close at 1.796 per dollar, from 1.789 Tuesday. Real chart: Media://Analytics/Pages:Real:/cmd=XA@?BRL/CH Glimpse tomorrow today: .4341 Brazil news stories from Bridge News Media://NewsSearch::/Source=mar/String=Brazil/newest/Search Brazil news stories from all vendors Media://NewsSearch::/String=Brazil/go/Search CHILE --STOCKS: Chile's IPSA select stock index rose 0.55 point, or 0.56%, to close at 98.38 on Wednesday as investors took profits from selling shares of electricity company Gener and power firm Endesa after they rose sharply on Tuesday. Telefonica CTC telecom shares rose for the second straight day on expectations of better third quarter earnings after a lousy first half. (Closing data .1333) Stock chart: Media://Analytics/Pages:IPSA:/cmd=CL;IPS[1099ID;60;20]/NVO --PESO: The Chilean peso continued gaining strength, closing at 548.90 per U.S. dollar Tuesday vs. 553.00 Monday on dollar sales said to come from private pension fund managers, known here as AFPs. Banks were also closing long dollar positions, which gave the unit additional strength. The unit tested support early in the session at 554.30. media://Analytics/Pages:Peso:/cmd=XA@?CLP/CH Additional data: .395 Glimpse tomorrow today: .4337 Chile news stories from Bridge News Media://NewsSearch::/Source=mar/String=Chile/newest/Search Chile news stories from all vendors Media://NewsSearch::/String=Chile/go/Search COLOMBIA --STOCKS: Colombia's Bogota benchmark IBB general index dropped 0.46%, or 3.91 points, Wednesday to close at 844.27. Almost half the volume was brewer Bavaria shares, which lost 1.25% to close at 7,900. Volume was moderate at 946.230 million pesos.(Closing data .1334) Stock chart: Media://Analytics/Pages:IBB:/cmd=CO;IBB[1350MOV3]/NVO --PESO: The Colombian interbank peso rate barely moved Wednesday, strengthening by 0.06%, or 1.5 pesos, to close at 2,177 pesos against the dollar. Traders said the market was waiting for the results of the morning's $40 million dollar-indexed TES Treasury bill auction. The peso traded in a range of 2,175 to 2177, on moderate volume of $103 million. Media://Analytics/Pages:Peso:/cmd=XA@?COPTQ/CH Glimpse tomorrow today: .4308 Colombia news stories from Bridge News Media://NewsSearch::/Source=mar/String=Colombia/newest/Search Colombia news stories from all vendors Media://NewsSearch::/String=Colombia/go/Search MEXICO --STOCKS: Mexico's IPC stock index closed up 0.56% or 36.16 points to 6543.93 on light bargain hunting and some optimism that the U.S. Federal Reserve won't need to raise interest rates at its Aug. 22 meeting. The IPC is now pushing its technical resistance at 6600, and volume would have to improve for the market to break that Thursday, dealers said. (Closing data .1335) Stock chart: Media://Analytics/Pages:IPC:/cmd=MX;IPC[1099ID;30;9] More to follow...