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

To: Steve Fancy who wrote (1111)	3/4/1998 1:39:00 PM
From: Steve Fancy	Respond to of 22640

PRESS DIGEST - Brazil - March 4 SAO PAULO, March 4 (Reuters) - These are the highlights of the main Sao Paulo and Rio de Janeiro newspapers this morning. biz.yahoo.com

To: Steve Fancy who wrote (1111)	3/4/1998 1:41:00 PM
From: Steve Fancy	Respond to of 22640

Brazil stocks seen higher, up on rates and Wall St SAO PAULO, March 4 (Reuters) - Brazil stocks were seen upbeat at Wednesday's open, boosted by optimism the Central Bank will slash its prime lending rate and by high-riding U.S. stocks, brokers said. biz.yahoo.com

To: Steve Fancy who wrote (1111)	3/4/1998 1:42:00 PM
From: Steve Fancy	Respond to of 22640

RESEARCH ALERT-Three Brazil banks started as buys SAO PAULO, March 4 (Reuters) - SBC Warburg Dillon Read Inc. said it initiated coverage of Brazilian private banks Bradesco (BBD_p.SA), Unibanco (UBB_p.SA)(UBB - news) and Banco Itau (ITA.SA) with a buy rating. biz.yahoo.com

To: Steve Fancy who wrote (1111)	3/4/1998 1:45:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Central Bank lowers its reais mini-band Reuters, Wednesday, March 04, 1998 at 08:39 SAO PAULO, Mar 4 (Reuters) - Brazil's Central Bank lowered its mini-band on the real currency by buying dollars at 1.1310 and selling at 1.1360 reais per dollar in the commercial foreign exchange market, dealers said. The previous mini-band was set on Friday at between 1.1300 and 1.1350 reais per dollar. Wednesday's auction was the first time this month the bank has nudged the mini-band lower and represents a 0.09 percent decline from the previous mini-band. The Central Bank usually changes the mini-band five to seven times each month. In the last six months, the Central Bank has lowered the mini-band between 0.59 percent and 0.63 percent each month. Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (1111)	3/4/1998 1:48:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

INSTANT VIEW-Brazil's 7.25 pct unemployment rate Reuters, Wednesday, March 04, 1998 at 13:22 BRASILIA, March 4 (Reuters) - Brazil's official rate of unemployment rose to 7.25 percent in January, up from 4.84 percent in December. Following are reactions from economists to the figures. THOMAS MALAGA, ECONOMIST, UNIBANCO "We expected unemployment to rise throughout the year but we weren't ready for such a big jump so soon." He said companies appeared to have reacted quickly to Brazil's doubling of interest rates and shed jobs ahead of an expected downturn in the economy. "There could be an improvement (in unemployment) through the rest of the year but it won't be significant. Our expecations are that unemployment in 1998 will average about seven percent." JOAO MARCOS MARINHO NUNES, PARTNER, MCM CONSULTORES "It was a big jump, no doubt about it. Our expectations are for unemployment to rise to a maximum of about 7.5 percent before falling again." He said January's jobless rate -- along with a smaller than expected trade deficit of $214 million in February -- suggested Brazil's expected economic slowdown was starting to bite. "These are factors which indicate that the economy really is in recession. Perhaps the slowdown will be deeper than had been previously thought." RITA RODRIGUES, ECONOMIST, TENDENCIA CONSULTORES "We were expecting a rate around seven percent, but nonetheless, it's high." She said Tendencia expected unemployment to continue rising until reaching a high of 8.7 percent between August and October and falling again in November and December when end-of-year seasonal factors would boost demand and jobs. william.schomberg@reuters.com)) Copyright 1998, Reuters News Service