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

To: Mayer Tchelebon who wrote (1457)	4/5/1998 5:06:00 AM
From: EPS	Read Replies (1) \| Respond to of 22640

Thanks Mayer, There are several relevant articles in todays edition including one about Ericsson's plans and positive views about the market. Victor Ericsson opens new plant in Sao Paulo Sao Paulo, 03 - Ericsson, the Swedish-owned telecom, will open today its new radiobase station plant in the state of Sao Paulo. The new plant will manage both the analog and digital mobile telephone network. The Swedish multinational invested US$15m in the building of its new unit. According to Ericsson, the plant should meet the demand for cellular phones of a clientele expected to grow to 8.2m users until the end of 1998 from the current 2.9m. The new plant will create 100 new direct jobs and should produce 2,000 radiobase units a year. Santander raises Brazilian market outlook to positive Sao Paulo, 03 - A report issued by the Spanish-owned investment bank Santander raised Brazilian short-term outlook to positive from stable. According to S‚rgio Goldman, an analyst at the bank, this is due to three main factors, such as "the diminishing Asian volatility, the resurgence of capital flows and the oil price boost". According to Santander's report, some profit-taking is expected to occur, "given the Ibovespa's 14.9% jump in US dollar terms in 1998", leading to a 5% to 8% market correction. "Growth is much stronger than the market had expected," Goldman wrote. According to the analyst, reserves -- which hit a record US$64bn -- the fall in interest rates to 43% annually and projections of a new reduction, this time to 24%, scheduled to occur in the next National Monetary Council (CMN) meeting, low inflation in the first quarter and, finally, the ongoing privatizations are all seen by the bank as bringing back "positive market sentiments". The report concludes investors should "begin adding private sector stocks to their portfolios as "the reduction of interest rates and the economic pickup expected in the second quarter should maintain the momentum in private sector stocks". (By Paulo Monteiro and Marcos Viesi) Victor