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

To: Steve Fancy who wrote (1701)	4/16/1998 3:01:00 AM
From: EPS	Read Replies (1) \| Respond to of 22640

Agencia Estado: ------------------------------------------------------------------------------------------------------ Pre-options exercise maneuverings continued influencing local stock exchanges, which closed slightly up after a lackluster trading day. The unsuccessful auction of two distribution units of Sao Paulo state's energy utility, Eletropaulo, also contributed to players' lack of enthusiasm. Nevertheless, the good trading volume registered by the Sao Paulo stock exchange, Bovespa, was mainly credited to the expiration of the Ibovespa index future. According to market analysts, stock exchanges are expected to greatly benefit from the drop in interest rates, the continuous inflow of foreign capital, the furthering of privatizations, as well as from a more tranquil international scenario. The Ibovespa index closed up 0.24% at 12,299 points (Ibovespa/US$ closed higher by 0.21% at 3,920 points). Trading volume was at US$795.348m with some 37.892bn shares having changed hands. The Rio de Janeiro Stock Exchange Index (IBV-RJ) closed higher by 0.23% at 43,564 points (IBV/US$ closed up 0.20% at 13,887 points). Among the blue chips, Telebr s PN/US$ ended down 0.16%. Eletrobr s ended lower by 0.76%. Petrobr s PN/US$ finished down 0.02%. CVRD PN/US$ closed higher by 0.67%. Usiminas finished up 1.07%. CSN ended up 0.83%. Despite today's strong inflow of foreign capital, and contrary to market expections, the Central Bank decided not to intervene in the market. Analysts believe that the excess liquidity was absorbed by the market itself. At roughly 4 p.m. ET, the forex market was registering a surplus of US$72m, with exports totaling US$187m, well above imports at US$94m. Financial inflow was at US$254m, below outflow which was standing at US$275m. Yesterday, the Central Bank 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). The US commercial dollar Ptax ended at R$1.1407/R$1.1399 from R$1.1404/R$1.1396 registered last Tuesday. The floating dollar was at R$1.1456. (By Marcos Viesi)

To: Steve Fancy who wrote (1701)	4/16/1998 11:13:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil shrs seen opening stable following rate cut SAO PAULO, April 16 (Reuters) - Brazilian stocks were seen stable at Thursday's open after the Central Bank cut monthly lending rates in line with expectations, but trade was seen volatile ahead of Monday's options expiries, brokers said. ''The interest rate cut will probably not invite a big reaction in the market today as it was pretty much what we had predicted,'' said a chief trader at Banco Geral do Comercio. On Wednesday, the Sao Paulo bolsa's 51-share Bovespa index (^BVSP - news) closed up 0.24 percent or 29 points at 12,229 points. biz.yahoo.com