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

To: Steve Fancy who wrote (548)	12/11/1997 8:44:00 PM
From: Yann-Ming Wang	Respond to of 22640

Thursday December 11, 7:44 pm Eastern Time Brazil's Cardoso says latest bolsa drop no crisis BRASILIA, Dec 11 (Reuters) - Brazilian President Fernando Henrique Cardoso is not worried about Thursday's 3.7 percent drop in the Bovespa index of the Sao Paulo Stock Exchange, a presidential spokesman said. ''One should not confuse oscillations on the stock markets with an economic crisis,'' said spokesman Georges Lamazire, quoting the president. He said foreign direct investment in the first 10 days of December stood at $520 million, a sign that foreign investors were not concerned about Brazil's long-term outlook. Brazilian shares were battered in October and November during fallout from Asia's financial crisis. After losing most of the 80 percent gains notched up in the first ten months of the year, stocks had been making a slow but steady recovery before falling on fresh concerns about the Far East and other emerging markets today and Wednesday.