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

To: Art Baeckel who wrote (21434)	8/21/2000 11:27:36 AM
From: md1derful	Respond to of 22640

(ot) Thanks Art...been lurking here for a few years...I did in fact buy some calls on idtc during the last H60 alert, when he blew a gasket over prospects for the company...occasionally he's right...I only post on the idtc losers and whiners board...just me....everybody else left!!! :-( doc

To: Art Baeckel who wrote (21434)	8/21/2000 5:26:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil shares end down as options expiry sap market Reuters, 08/21/2000 17:17 By Nicholas Winning SAO PAULO, Aug 21 (Reuters) - Brazil's stock index slumped Monday as the expiry of local stock options sucked capital away from the market and imminent decisions on interest rates at home and abroad sidelined investors, traders said. "The day was marked by a lack of money due to the options redemption," said Bonval brokerage director Celso Cenise. "It is not a good day to be in the market. There is a risk of buying at a bad price and of selling at a bad price." Brazil's benchmark Bovespa (INDEX:$BVSP.X) stock index ended 1.3 percent weaker at 17,038. Turnover hit 625 million reais ($347 million), a tad above July's daily average of 624 million. "It was a very Monday market," said Concordia Brokerage trader Marcelo Porto, adding that some players were waiting on U.S. and Brazilian interest rate decisions Tuesday and Wednesday before diving in. The latest Reuters polls show U.S. market players almost unanimously forecast the Federal Reserve would hold rates steady at 6.5 percent, while the Brazilian market is split over what Brazil's Central Bank would do. Players said cable TV provider Globocabo (SAO:PLIM4) (NASDAQ:GLCBY) and oil giant Petrobras (SAO:PETR4)(NYSE:PBR) were among the most heavily traded stocks and options. Globocabo ended 2.8 percent lower at 2.82 reais, while market heavyweight Petrobras closed 1.6 percent down at 50.95. The day's high-flyer was airline Varig (SAO:VAGV4), which soared 12.9 percent higher to close at 3.86 as the stock continued to rally on improved results released Wednesday. Traders said the stock could rise to five reais in the near term after posting a first half loss of 24.5 million reais ($119 million), compared with a 93.2 million reais loss for the first half of 1999. The paper sector offered one of the few bright spots with Klabin (SAO:KLAB4) and Aracruz (SAO:ARCZ6) gaining at least one percent. Telecoms and electrical stocks fell almost across the board, while banks were mixed. No.1 private bank Bradesco (SAO:BBDC4) was among the day's newsmakers as it began a previously announced buyback of newly listed shares in its former investment arm Bradespar (SAO:BRAP4) for a set price of 0.91 reais per 1,000 share block. The bank's stockholders got one Bradespar share for every one they owned in the bank when Bradespar was listed on August 10. The buyback, which ends on September 15, was arranged to give the automatic shareholders a guaranteed chance to sell. Bradespar stock gave away early gains to end 2.6 percent down at 1.14 reais. Bradesco stock was barely changed at 14.90. (Sao Paulo newsroom, +5511 248 5223)) Copyright 2000, Reuters News Service