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

To: Steve Fancy who wrote (512)	12/5/1997 4:13:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Cardoso sees confidence returning LONDON, Dec 5 (Reuters) - Brazilian President Fernando Henrique Cardoso said on Friday investor confidence was returning and stressed privatisations would continue to attract foreign capital. biz.yahoo.com

To: Steve Fancy who wrote (512)	12/5/1997 4:33:00 PM
From: Steve Fancy	Respond to of 22640

Friday December 5, 12:37 pm Eastern Time Telebras to invest 5 bln reais by Aug '98 - report SAO PAULO, Dec 5 (Reuters) - Federal telecoms group Telebras (TEL_p.SA) (NYSE:TBR - news) will invest 5.0 billion reais ($4.5 billion) by August 1998, a local news agency reported President Fernando Xavier Ferreira as saying. Telebras had earlier planned to invest 6.0 billion reais in its 1998 budget, but the firm cut 1.0 billion reais due to the government's fiscal austerity package, Agencia O Globo quoted Ferreira as saying. Ferreira said the firm's 1997 budget would be completed as planned with investments of 7.5 billion reais, it said. A Telebras spokesman in Brasilia said he could not confirm Ferreira's comments as the president was attending an industry seminar and was traveling alone in Sao Paulo.

To: Steve Fancy who wrote (512)	12/5/1997 4:46:00 PM
From: Steve Fancy	Respond to of 22640

RESEARCH ALERT - LatAm telecoms seen stronger Reuters, Friday, December 05, 1997 at 11:04 NEW YORK, Dec 5 (Reuters) - Credit Suisse First Boston raised its rating on Telemig (SAO:TMG) to buy from hold, and said that Latin American telecommunications companies as a group would continue their current recovery rally into 1998. -- Analyst Luanne Zurlo said in a research note that she expects the group to return to its mid-1997 highs within the next 12 months, "with most of the upside concentrated in the Brazilian telcos." -- Despite concerns about how Asia's economic troubles might affect Latin America, the region's fundamentals have not changed significantly. Zurlo forecasts earnings growth for the telecoms "as strong or stronger" in 1998 as in 1997, on average. -- Telemig's upgrade reflects stronger-than-expected 1997 line growth and results. ******************************************************************* -- Zurlo said she was reiterating her bullish stand on the sector. Among other companies mentioned in her report, she maintained her strong buy rating on Telebras SA (SAO:TEL_.P) (NYSE:TBR) and her buy rating on Telefonos de Mexico SA (MEX:TMX.L) (NYSE:TMX). -- Telebras ADRs were off 3/4 at 112-3/4 in morning trading. Telmex ADRs were off 4/16 at 52-7/16. ******************************************************************* Copyright 1997, Reuters News Service

To: Steve Fancy who wrote (512)	12/5/1997 4:52:00 PM
From: Steve Fancy	Respond to of 22640

LatAm funds show strongest inflow since July Reuters, Friday, December 05, 1997 at 15:54 NEW YORK, Dec 5 (Reuters) - Latin American mutual funds registered an inflow of $39.6 million this week, the biggest influx since July, Caspian Securities said Friday. Citing figures compiled by AMG Data Services, Latin American strategist Francois Gour said the data "suggest that investor confidence is returning to the region more quickly than expected." The inflow for the week ending Friday totaled $39.6 million, or one percent of total assets. The funds showed an outflow last week of $9.2 million, or 0.2 percent of assets. The figures could provide for an early "January effect," or boost in prices as investors look for Latin American stocks at the start of the year, Gour said. Latin American stock markets have been battered recently by worries that jitters from tumbling Asian markets could spread to the region. The AMG data show Latin American mutual funds have had a total gain of $571 million so far this year for a weekly average inflow of $11.9 million. Copyright 1997, Reuters News Service