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

To: Steve Fancy who wrote (6313)	8/4/1998 10:49:00 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

LatAm to grow 2.8 pct in '98, 4.5 pct in '99 -WDR Reuters, Tuesday, August 04, 1998 at 22:42 SANTIAGO, Aug 4 (Reuters) - Latin America's growth in gross domestic product is set to slow to 2.8 percent in 1998 due to the Asian crisis but then pick up to 4.5 percent in 1999 on renewed investment, a top analyst at Warburg Dillon Read said Tuesday. "Last year the region grew 5.2 percent, and this year it is expected to be 2.8 percent with a tendency to be perhaps a little lower," Walter Molano, executive director of WDR's Latin American Economic and Financial Research, told reporters while in Chile. "For the next year, (GDP) will begin to grow much more rapidly at 4.5 percent," he said, attributing the expected rise to a healthier outlook in Brazil and an increase in capital inflows in Latin America, especially in Brazil. "Brazil is beginning to recover more than anything because the elections will be over, confidence will return to the markets and investment will be the motor of growth," he said. Brazilians vote on October 4 to elect a president, state governors and representatives and a large part of the national Congress. Growth has slowed this year because less money is pouring into the region, he said. Net inflows of private capital to Latin America totalled $91.1 billion last year and will slip to $71.7 billion this year but rebound to $82 billion in 1999, he said. "A new stage is coming. Latin America is going to attract a lot of direct investment, and the big destinations are going to be Brazil and Mercosur," he said. He was referring to the trade bloc that groups Argentina, Brazil, Paraguay and Uruguay and has Chile and Bolivia as associate members. As a sign of the capital inflows to come, Molano pointed to last week's $19 billion privatisation of Brazilian telecommunications concern, Telebras (NYSE:TBR) (SAO:TELB4). fax +562 696-0161)) Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (6313)	8/4/1998 11:43:00 PM
From: Oracle	Read Replies (1) \| Respond to of 22640

Steve, Gotta hand it to you, the eternal optimist. I'm not so sure given the current U.S situation, just bloody bad timing, otherwise TBR would be 130+. To be honest I am thinking of switching to short.... What do you plan doing with all those puts ?

To: Steve Fancy who wrote (6313)	8/6/1998 10:13:00 PM
From: Weekapaug	Respond to of 22640

Steve, It's not a question of being right or wrong. It just seems to happen that way. Markets are efficient, not rational for some reason 2 days before the full-moon, like today and the full-moon being Saturday. I just got home and haven't checked the foreign markets. But they should be up, I hope. Ken

To: Steve Fancy who wrote (6313)	8/6/1998 10:18:00 PM
From: Steve Fancy	Respond to of 22640

Brazilian shares fall again amid global concerns Reuters, Thursday, August 06, 1998 at 17:13 SAO PAULO, Aug 6 (Reuters) - Brazil's key Bovespa (INDEX:$BVSP.X) index fell for the fifth day amid weak trade, with investors waiting for a marked recovery in U.S. equities before putting money back into local stocks, traders said. "Dow Jones defined a downward trend that isn't going to let up until stocks there actually turn around and begin to rise," said a trader at Solidus brokerage. "Sellers are going to continue to be dominant." Sao Paulo's key Bovespa index of the 58 most-traded shares closed off 1.41 percent at 9690 points, bringing losses over the last five sessions to more than 10 percent. Petrobras led declining stocks amid concern that the state-owned oil company's profits will suffer with the government reducing gasoline prices at the pump and allowing competitors to import oil for the first time since the oil monopoly was established in the 1950s, traders said. Petrobras preferred fell 3.48 percent to close off at 222 reais. All told, shares worth 566.6 million reais ($486.7 million) traded hands, compared with average daily trading of about 700 million reais. Telecommunications stocks were down for the fifth consecutive session as well. Telerj (SAO:TERJ4) and Telemig (SAO:TMGR6) were two of the biggest losers Thursday amid persistent concern that the new owners of the Telebras unit that controls them won't meet investment requirements. "Investors just don't like the consortium that bought Tele Norte Leste," a trader at a local brokerage said. Telerj preferred closed off 3.89 percent at 71.99 reais and Telemig preferred ended off 2.0 percent at 73.99 reais. Telesp Celular (SAO:TSPC6) also tumbled because investors think the price climbed too high amid post-privatization euphoria, traders said. The company's preferred shares closed off 3.24 percent at 104.50 reais. Among blue chip stocks, Telebras (SAO:TELB4) preferred closed off 1.57 percent at 125 reais, and preferred shares of the energy holding company Eletrobras (SAO:ELET6) ended off 1.42 percent at 34.01 reais. Iron ore miner Cia Vale do Rio Doce (SAO:VALE5) closed off 2.83 percent at 22.01 reais. shasta.darlington@reuters.com)) Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (6313)	8/6/1998 10:29:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Cardoso Announces Measures To Boost Employment Dow Jones Newswires BRASILIA -- Brazilian President Fernando Henrique Cardoso on Thursday announced measures to attack unemployment, one of the country's most worrisome economic indicators heading into the October elections. The measures, which liberalize labor rules and facilitate new hiring, come after government figures showed the jobless rate breaking records recently. The jobless rate reached 7.9% in June, slightly off May's 8.2%, which had been the second highest monthly figure on record. Labor unions claim the rate is twice that high. Brazilian media are calling the measures an "anti-unemployment package," but there was little in the way of immediate action as most of the measures need Congressional approval. One of the measures going into effect immediately clarifies existing legislation that allows employers to hire on a part-time basis, up to 25 hours a week. Another point increases flexible working time, allowing workers to make up for paid leaves over a longer period of time. The third bolsters a program that finances meals to unemployed workers. The measures that will be sent to Congress seek to amend two articles of the Constitution as well as revamp labor legislation dating from the 1940s. One of the articles regulates union contributions and affiliation, and the other grants the labor courts power over contract negotiations - a role the government seeks to reduce. -By Geraldo Samor; 55-21-580-9394; gsamor@ap.org