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

To: EPS who wrote (6410)	8/7/1998 11:58:00 AM
From: Steve Fancy	Respond to of 22640

Brazil shares seen headed for further losses Reuters, Friday, August 07, 1998 at 08:36 SAO PAULO, Aug 7 (Reuters) - Brazilian shares were seen headed for another day of losses on Friday following weaker closings on Asian markets and worries over news that two bombs exploded in Africa targeted at the United States embassies. "We'll have another day of very weak prices and little volume," said one broker at Banco Santander. "Depending on further developments linked to the bomb news in Africa, we may even see a stronger fall than Thursday," he added. On Thursday, the Bovespa index (INDEX:$BVSP.X) of the 58 most-traded stocks ended down 1.42 percent at 9,690 points. The index fell for the fifth day amid weak trade. Two bomb blasts were reported on Friday at the U.S. embassies in Kenya and and Tanzania, causing numerous causalities. The U.S. State Department said they were seen as terrorist attacks, but that there had so far been no claim of responsibility. Local brokers also expressed worries over weak Asian markets. "The Chinese scenario, with worries over a possible devaluation in its currency mounting, is scary," said one. The Bovespa had lost 9.5 percent on the week and 4.9 percent on the year by Thursday's close. Brokers said they did not foresee a firm recovery in the near future. Bluechip activity on Thursday: Telebras (SAO:TELB4) down 1.57 pct at 125.00 reais Petrobras (SAO:PETR4) down 3.48 pct at 222.00 reais Eletrobras (SAO:ELET6) down 1.42 pct at 34.01 reais Vale do Rio Doce (SAO:VALE5) down 2.83 pct at 22.01 reais Sao Paulo stock exchange's Bovespa index of the 58 most traded shares: * Thursday: down 1.41 pct at 9,690 points * Week: down 9.5 pct * Month: down 9.5 pct * Year-to-date: down 4.9 pct SELIC (open): 2.115 pct Dollar/Real (open): 1.1685 per dollar YESTERDAY'S STORIES 1/8 1/4SUR 3/8 ***** SPOT REAL QUOTES <BRBY> BOVESPA STOCK INDEX (INDEX:$BVSP.X) ELECTRICAL ENERGY INDEX <.IEE> BRAZILIAN ADR PRICES <BR/ADR> BRAZILIAN BRADY BOND PRICES <2LDO> BRAZILIAN DOLLAR FLOW HISTORY Copyright 1998, Reuters News Service