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

To: Steve Fancy who wrote (997)	2/11/1998 11:14:00 AM
From: Steve Fancy	Respond to of 22640

Brazil shrs seen up moderately after reform vote Reuters, Wednesday, February 11, 1998 at 08:08 SAO PAULO, Feb 11 (Reuters) - Brazilian shares were likely to post moderate gains at Wednesday's open as investors cautiously welcomed Senate approval of the government's civil service reform bill in a first round vote, brokers said. But they noted the trend for the day remained unclear as trading related to the upcoming options settlement should dominate the session. "The reform vote was positive, but the options game is still the main factor driving share prices these days," said a trader. Options are slated to settle on February 18. Another issue that could keep investors' cautious approach to stocks is Wednesday's vote on the social security reform in the Chamber of Deputies. Lawmakers are scheduled to vote later today on the bill and traders fear the voting will not be as easy as Tuesday's administrative reform vote. Both reform measures are seen essential for Brazil's cost-cutting drive. Blue-chip activity Tuesday: Telebras (SAO:TEL_.P) up 0.38 pct at 132.30 reais Petrobras (SAO:PET_.P) off 0.4 pct at 246 reais Eletrobras (SAO:ELE) (SAO:ELE_P.B) up 0.89 pct at 55.50 reais Vale do Rio Doce (SAO:VAL_.P) up 3.09 pct at 23.70 reais ***** Sao Paulo stock exchange's Bovespa index (INDEX:$BVSP.X) of the 51 most traded shares: * Tuesday: up 0.37 pct at 10,278 pts * Week: up 2.6 pct * Month: up 5.7 pct * Year-to-date: up 0.7 pct *** SELIC (open): 3.53 pct Dollar/Real (open): 1.1262 per dollar * YESTERDAY'S STORIES 1/8/SUR 3/8 * SPOT REAL QUOTES <BRBY> BOVESPA STOCK INDEX (INDEX:$BVSP.X) ELECTRICAL ENERGY INDEX <.IEE> BRAZILIAN ADR PRICES <BR/ADR> BRAZILIAN BRADY BOND PRICES <2LDO> BRAZILIAN DOLLAR FLOW HISTORY <BRFLOW> * CORPORATE FORECASTS Telebras 1998 <BRAAD> *** Brazil Debt News 1/8BR-D 3/8 Brazil Equity News 1/8BR-E 3/8