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

To: Art Baeckel who wrote (21251)	8/7/2000 6:16:17 PM
From: Steve Fancy	Respond to of 22640

Brazil stocks skip higher amid political calm Reuters, 08/7/2000 17:24 By Katherine Baldwin SAO PAULO, Aug 7 (Reuters) - Brazilian shares ended higher for a fourth day as investors took heart from Wall Street gains and signs a local political scandal that had threatened the presidency was fizzling out, traders said. The benchmark Bovespa stock index (INDEX:$BVSP.X) rose 1.4 percent to 16,996, close on the heels of a 2 percent gain in the Nasdaq index (INDEX:$COMPX) and outpacing the Dow Jones Industrial Average's rise of 0.9 percent. Still, despite relative calm on the political front, volume remained weak, traders said. Turnover was 558 million reais ($310 million). Investors took advantage of the lack of new evidence in a graft scandal involving up to $100 million in public funds to snap up some Brazilian shares. Telecommunications companies Brasil Telecom (SAO:TCSP4) and Embratel (SAO:EBTP4) lead the pack. "The political scene has improved in a big way," said Marcelo Porto, a trader at Concordia Brokerage. Investors are betting that Brazil's Congress will not install a fast-track commission to investigate the scandal, diminishing the chances that the presidency could be implicated, Porto added. Brasil Telecom rose 3 percent to 27.81 reais. The company is set to complete the purchase of a stake in a southern Brazilian telephone operator from Telefonica of Spain. The shares of state-owned oil giant Petrobras (SAO:PETR4) rose 3.4 percent to 47.54 reais on the last day of the company's $4.4 billion share offering, the country's biggest share offer ever. Investors weighed up their options as companies reported second quarter and first half earnings. Supermarket chain operator Pao de Acucar (SAO:PCAR4) fell 2.1 percent to 58.50 reais even after the company said first-half net profits rose to 114.5 million reais, compared with a loss of 62.1 million reais in the same period last year. Utilities company Cemig (SAO:CMIG4) slipped 0.3 percent to 33 reais. Cemig also said it had turned a loss in the first half of last year into a profit in 2000. Cemig's first half profit was 218 million reais compared with a loss of 250.9 million reais in the same period of 1999. katherine.baldwin@reuters.com)) Copyright 2000, Reuters News Service

To: Art Baeckel who wrote (21251)	8/7/2000 7:31:49 PM
From: Steve Fancy	Respond to of 22640

TABLE-Brazil Telemar Q2 net profit rises sharply Reuters, 08/7/2000 18:53 RIO DE JANEIRO, Aug 7 (Reuters) - Brazilian land line telephone operator in Rio de Janeiro, Telemar, or Tele Norte Leste Participacoes (SAO:TNLP4), said Monday its consolidated net profit in the second quarter of 2000 rose sharply against the first quarter. Q2 2000 Q1 2000 Net profit 82.3 mln 17.8 mln Net revenues 11.6 bln N/A Operational profit 2.0 bln N/A Net worth 965 mln 828.9 mln NOTE: All figures are in Brazilian reais and not adjusted for inflation. N/A: Not Available Copyright 2000, Reuters News Service

To: Art Baeckel who wrote (21251)	8/7/2000 7:36:29 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

Hey Art, preliminary numbers look great! Near the extreme high end of the 28 - 95 million reais estimates. Telemar, Brazil's largest fixed-line telephone company, is expected to report second-quarter net income of 54 million reais ($30.1 million), according to the average forecast of six analysts polled by Bloomberg News. That compares with a loss of 32.1 million reais for the year-ago period. The second-quarter estimates ranged from 28 million reais to 95 million reais. Oughta be good for some big upgrades over the next few days. Can't wait to see comments from TNE officials. sf