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

To: Weekapaug who wrote (534)	12/10/1997 5:16:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil's 1998 financing needs about $46 bln -Lopes NEW YORK, Dec 10 (Reuters) - Brazil's financing requirements for 1998 will total about $46 billion, of which $8 billion is expected to be raised in the debt markets, Francisco Lopes, director of economic monetary policy at the Central Bank of Brazil, said on Wednesday. biz.yahoo.com

To: Weekapaug who wrote (534)	12/10/1997 6:30:00 PM
From: Steve Fancy	Respond to of 22640

Brazil stocks end 3.84 pct lower, led by Dow, Asia Reuters, Wednesday, December 10, 1997 at 16:06 SAO PAULO, Dec 10 (Reuters) - Brazilian stocks, led lower by falling share prices in Asia and New York, closed down 3.84 percent on Wednesday amid speculative selling ahead of Monday's options expiry, brokers said. "There was no news to justify this fall," said a trader at local Santander brokerage. "There's no news. It was just the Dow and manipulation, speculation before expiration of options." The Sao Paulo bolsa's Bovespa index (INDEX:$BVSP.X) of 51 most-traded stocks fell 380 points to close at 9461 in lighter-than-average turnover of 736.6 million reais ($663.6 million). Brokers said the market was pushed lower by speculative selling as investors angled for advantage ahead of options expirations on Monday, with trade focused on the market's benchmark stock, Telebras preferred (SAO:TEL_.P). The issue ended the day down 4.9 percent at 116.50 reais, shedding most of its sharp gain earlier in the month. Dealers said the market opened weaker, weighed down by worries about Asia's financial turbulence. It took a steeper drop as Wall Street prices began to crumble on pre-Christmas profit-taking. Trade was slender through most of the session, prompting speculation that the bolsa had already entered its traditional end-of-year slumber. "People are gone for the year. They're closed the door," one dealer said. "There's nothing going on." With the session dominated by day trade, brokers said the tight liquidity and light volume would continue on Thursday, with some price jostling as options settlement day approaches. Among other top shares, Eletrobras preferred B (SAO:ELE_P.B) ended off 2.31 percent at 550 reais, Petrobras preferred (SAO:PET_.P) closed down 3.08 percent at 252 reais and Cia Vale do Rio Doce (SAO:VAL_.P) slid 1.96 percent to 20 reais. 248-5570, james.craig@reuters.com)) Copyright 1997, Reuters News Service