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

To: Steve Fancy who wrote (1654)	4/14/1998 6:49:00 PM
From: Steve Fancy	Respond to of 22640

Sale of Eletropaulo's transmission unit suspended SAO PAULO, April 14 (Reuters) - Sao Paulo state government has suspended Wednesday's sale of a minority stake in Eletropaulo's (ELP.SA) transmission unit Empresa Paulista de Transmissao de Energia (EPTE) (EPT.SA), a bolsa official said on Tuesday. The auction, scheduled for 1800 local/2100 GMTG Wednesday, was suspended because investors that had signed up for the sale failed to present financial guarantees to bid for the 36.69 percent voting stake in the firm, a spokeswoman for the Sao Paulo Stock Exchange (Bovespa) said. biz.yahoo.com

To: Steve Fancy who wrote (1654)	4/14/1998 6:52:00 PM
From: Steve Fancy	Respond to of 22640

Brazil shares end up ahead of rate cut, options SAO PAULO, April 14 (Reuters) - Brazilian shares closed firm ahead of an expected sharp cut in domestic interest rates Wednesday amid action from options holders as the settlement looms, brokers said. biz.yahoo.com

To: Steve Fancy who wrote (1654)	4/14/1998 7:02:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Cardoso wants to increase economic growth Reuters, Tuesday, April 14, 1998 at 18:35 BRASILIA, April 14 (Reuters) - Brazilian President Fernando Henrique Cardoso wants the economy to grow by more than 2 percent in 1998, a spokesman said Tuesday. "President Fernando Henrique Cardoso wants the government to work for Brazil to have economic growth of more than 2 percent," presidential spokesman Sergio Amaral told reporters at a regular briefing. The International Monetary Fund (IMF) this week said it had revised Brazil's growth outlook down to 1.5 percent from its October 1997 forecast of 4 percent. The average forecast by economists polled by Reuters on page <BRAAN> is for GDP to grow 1.1 percent in 1998. This is sharply lower than the roughly 3 percent growth registered in 1997, mainly due to a package of austerity measures announced by Brazil in the aftermath of the economic crisis in Asia. joelle.diderich@reuters.com)) Copyright 1998, R

To: Steve Fancy who wrote (1654)	4/14/1998 7:12:00 PM
From: Steve Fancy	Respond to of 22640

Checked interest rate cut from March. The market traded up in anticipation of the rate cut on Wednesday March 4. The news came out at 4:30 and the market traded up the next day. I remember the rate cut had been greater than expected. I believe 24% is expected tomorrow, with hope it might be as low as 22%. sf