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

To: Steve Fancy who wrote (685)	1/8/1998 10:20:00 PM
From: Steve Fancy	Respond to of 22640

Brazil inflation falls to near 50-year low By John Miller SAO PAULO, Jan 8 (Reuters) - Brazilian inflation fell to a near 50-year low in 1997 thanks to an ambitious price-busting plan that political observers say has virtually guaranteed President Fernando Henrique Cardoso a second term in office. biz.yahoo.com

To: Steve Fancy who wrote (685)	1/8/1998 10:25:00 PM
From: Steve Fancy	Respond to of 22640

Brazil economy seen hurt if global crisis deepens RIO DE JANEIRO, Jan 8 (Reuters) - Brazil should face a tougher 1998 if global financial turmoil following troubles in Asia deepens this year, an economist at the Getulio Vargas Foundation (FGV) said Thursday. biz.yahoo.com

To: Steve Fancy who wrote (685)	1/8/1998 10:52:00 PM
From: Steve Fancy	Respond to of 22640

Brazil shrs end sharply lower, hit by Asia/Wall St Reuters, Thursday, January 08, 1998 at 15:20 SAO PAULO, Jan 8 (Reuters) - Brazilian stocks closed off 2.24 percent Thursday, pressured by another day of heavy selling on Asian and U.S. stock markets, brokers said. "It was all Asia and New York again. We remain hostage to what happens overseas," said a trader at Dias de Souza brokerage. The Sao Paulo bolsa's key Bovespa index (INDEX:$BVSP.X) of the 51 most active stocks lost 224 points, ending at 9,658 points. Market turnover was 692.2 million reais ($623 million). Brokers said steep falls in the Asian region, particularly tumbling Indonesian stocks and currency, have prompted nervous investors to sell worldwide. Traders said the bolsa, which fell for a third session in a row, could deepen its drop Friday if exchanges continued to slide abroad. "There is no doubt that if Asia keeps nosediving, the Dow will suffer and we will go down again," said another trader. The market's slump was led by bellwether Telebras (SAO:TEL_.P), which lost 1.72 percent to close at 120 reais. State-owned oil firm Petrobras (SAO:PET_.P) preferred closed off 2.72 percent at 250 reais. Federal power holding Eletrobras SAO:ELE_P.B) preferred fell 2.83 percent, ending at 51.50 reais. Private miner Cia Vale do Rio Doce (SAO:VAL_.P) ended flat at 21 reais. Also sharply lower were preferred shares of Sao Paulo state bank Banespa (SAO:BES_.P), which closed off 5.1 percent at 65.48 reais. Banespa stock had surged over the last few sessions amid speculation regarding the bank's privatization, expected for sometime this year. Banespa common stock posted even deeper losses, ending at 53.99 reais, off 6.75 percent. Copyright 1998, Reuters News Service