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

To: EPS who wrote (1671)	4/15/1998 10:57:00 AM
From: Madharry	Read Replies (1) \| Respond to of 22640

victor i would really appreciate a translation

To: EPS who wrote (1671)	4/15/1998 10:58:00 AM
From: EPS	Respond to of 22640

Agencia Estado Due to uncertainties in the domestic front -- mainly after the Sao Paulo Electricians Labor Union obtained an injunction from the state Justice Court last night suspending the auction of the Sao Paulo state-owned electric utility Eletropaulo that lasted until few minutes before the opening of Bovespa's session -- traders seem to adopt a "wait and see" attitude as market's outframe is still very vague this morning. On the top of that, trade should be driven by futures index expiration, due in the last hours of the session, what is likely to cause Brazilian shares to trade flat to lower, at least at the beginning of the session, investors believe. However, today's meeting of the Central Bank's Economic Policy Committee (Copom), in which the magnitude of the reduction in interest rates is to be decided upon, can aid boosting local bourses sometime during the day. The Ibovespa index is down 0.50% at 12,208 points. Trading volume is at R$10.048m with some 283.757bn shares having changed hands. The Rio de Janeiro Stock Exchange Index (IBV-RJ) is lower by 0.11% at 43,390 points. Telebr s PN/US$ down 0.90% at R$147.85. Eletrobr s also down 2.21% at R$53.00. CVRD PN/US$ at R$28.50 is not yet trading. Yesterday, the Central Bank finally conducted another adjustment in the inner-band of 0.09%, allowing the Real to range between R$1.1400 (floor) and R$1.1450 (ceiling), aiding traders to calm down. However, expectations remain high since the forex market, like the domestic stock exchange market, is anxious and vigilant today as the BC should also reduce its basic rate (TBC) to between 22% and 24%. The US commercial dollar Ptax is now trading at R$1.1403/R$1.1401. (By Paulo Monteiro and Marcos Viesi)

To: EPS who wrote (1671)	4/15/1998 12:47:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Victor, although I thought this had been resolved a few months back, I believe the issue is old, old news. If I'm understanding what this is, I further believe this was the expected resolution. I'll bet they resolve the problem with the power company auctions quickly. I still have high hopes for the rest of the day and week. It seems to be trading on it's own mind today. I hope to see some end of day energy ahead of the interest rate announcement. sf