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

To: Art Baeckel who wrote (21239)	8/4/2000 8:34:59 AM
From: Art Baeckel	Read Replies (1) \| Respond to of 22640

Latin America Financial Markets Summary-Aug. 3 Futures World News - August 03, 2000 17:56 Jump to first matched term Aug. 3-MAR-- [B] Latin America Financial Markets Summary-Aug. 3 ARGENTINA: --STOCKS: Argentina's Merval stock index lost 0.8%, or 3.93 points, to close at 484.92 Thursday, continuing its three-week slide. Despite strong performances from Telecom, up 1.99%, and energy conglomerate PC Holdings, up 1.83%, concerns over the local economy kept most buyers at bay. Grupo Financiero Galicia finished 2.27% lower. (Closing data .1331) Stock chart: Media://Analytics/Pages:Merval:/cmd=AR;MER[1099ID;60;20]/NVO --INTEREST RATE: Argentine bond prices tended lower in the morning and rebounded in the afternoon to finish mixed. Volume remained small as most investors waited for Friday's release of U.S. employment statistics and clues about Fed action later this month. The Pro1 peso-denominated bond remained unchanged at 65.70 while the Bonte '04 slipped 5 basis points to 98.30. 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 a stunning 406 points in late trading to close 2.49% higher on the day at 16,720 on adroit congressional testimony by former presidential assistant Eduardo Jorge Pereira. The ex-aide deflected accusations from himself and from the administration of President Fernando Henrique Cardoso, according to market analysts and members of Congress. (Closing data .1332) Stock chart: Media://Analytics/Pages:Bovespa:/cmd=BR;IBOV[1099ID;60;20]/NVO --INTEREST RATES: September interest rate futures closed at 16.31% Thursday, down from 16.41% Wednesday, as domestic stocks surged on strong fundamentals. Analysts said steady growth at manageable inflation rates means the central bank will continue its policy of gradual reduction in the base rate through the end of the year. They said fears of a U.S. rate hike are fading. --REAL: The Brazilian real rode a roller coaster Thursday on tighter supply of FX hedge and speculation ahead of testimony from the key figure in a political scandal. After sliding as far as 1.813 per dollar at the open, the real gained ground when no fresh news emerged from Brasilia. The real ended at the session's high of 1.795 per dollar, from 1.796 Wednesday. 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 0.53 point, or 0.54%, to close at 98.91 on Thursday as foreign investors bought U.S.-listed stocks in Chilean companies that posted sound first half results, traders said. Lower-than-expected July inflation fueled sentiment that the central bank will maintain an expansionary monetary policy, which also boosted the IPSA. (Closing data .1333) Stock chart: Media://Analytics/Pages:IPSA:/cmd=CL;IPS[1099ID;60;20]/NVO --PESO: The Chilean peso reversed Wednesday gains, closing weaker on Thursday at 552.20 per U.S. dollar compared with 548.90 the previous session. The lower-than-expected 0.1% July consumer price index made inflation-indexed peso positions less attractive, prompting banks to go long on dollars. U.S. data released earlier in the day fueled U.S. interest rate-hike jitters, further weakening the peso. 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 slipped 0.18%, or 1.58 points, Thursday to close at 842.69 on low volume of 564.193 million pesos. Shares in holding company Valbavaria fell 2.86% to 1,700 pesos, while Banco Ganadero gained 1.18% to 94.10 pesos.(Closing data .1334) Stock chart: Media://Analytics/Pages:IBB:/cmd=CO;IBB[1350MOV3]/NVO --PESO: The Colombian interbank peso weakened 0.18% Thursday, or four pesos, to close at 2,181 pesos against the dollar. Traders said the peso softened slightly on speculation in the financial sector. The peso traded in a range of 2,174.10 to 2,184, on low volume of $100.800 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 benchmark IPC stock index lost 34.76 points, or 0.53%, to close at 6509.17 points amid low volume and influenced by fears of a slowdown in the U.S. economy, which could impact the Mexican economy and hurt corporate profits, traders said. The market is expected to remain volatile Friday with support at 6300 and resistance at 6600. (Closing data .1335) Stock chart: Media://Analytics/Pages:IPC:/cmd=MX;IPC[1099ID;30;9] --INTEREST RATES: The overnight rate on Mexican government paper fell to 14.75% from Wednesday's close of 16.35% amid volatility prompted by speculation. Large financial intermediaries have been manipulating the rate, traders said. The rate is seen in a range of 15.00% to 17.00% Friday. More to follow...