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

To: EPS who wrote (1703)	4/16/1998 10:38:00 AM
From: EPS	Read Replies (2) \| Respond to of 22640

Agencia Estado: --- Market Status at 09h29 am ET Expectations are that local bourses should trade flat to lower two days before the options exercise scheduled for April 20th. Not even the positive repercussion of the drop in interest rates by the Central Bank to 23.25% from 28% is seen as capable of boosting local stocks today. Besides, the negative scenario in the international front and reverberations abroad of the frustrating auction of two distribution units of Sao Paulo state's energy utility, Eletropaulo, should contribute to push down Brazilian shares. However, the Dow's performance, provided it is positive, can change investor's negative mood. The Ibovespa index is down 1.13% at 12,160 points. Trading volume is at US$38.967m with some 3.600bn shares having changed hands. The Rio de Janeiro Stock Exchange Index (IBV-RJ) is also down 0.30% at 43,434 points. Telebr s PN/US$ is lower by 1.54% at R$146.70. Eletrobr s at R$53.80 and CVRD PN/US$ at R$28.70 are not yet trading. Strong inflow of foreign capital should continue today, despite Central Bank's drop in interest rates. Since the drop was within the expected limits and well absorbed by financial agents, analysts discard major changes in the market. On Tuesday, 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 is now trading at R$1.1406/R$1.1404. (By Paulo Monteiro and Marcos Viesi)