Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: EPS who wrote (6475)	8/10/1998 2:56:00 PM
From: md1derful	Read Replies (1) \| Respond to of 22640

Vic: No, the word is Yuk!!! Weather here is typical and will get worse over the next couple of days...aft. t-storms increasing through the week..not to worry..tbr will be 120 by then!!! Enjoy

To: EPS who wrote (6475)	8/10/1998 8:58:00 PM
From: EPS	Respond to of 22640

Brazilian stock markets closed out the day lower on lackluster trading and thin volume. Market analysts said that Brazilian Bradys and Globals were the culprits leading to today's fall. The C-Bond (the most liquid among Brazilian debt securities) finished down 3.75%. The analysts added that the terrible performance of the Japanese currency increased uncertainties about the country's economy and spread fears of an eventual devaluation of the Chinese currency. The situation worsened after the president of the US Fed Alan Greenspan told a German magazine that Japan did not make a serious attempt "to solve problems within its bank system".The DJIA also helped keep local bourses down, as the index ended in negative territory. The Ibovespa finished down 1.47% at 9,182 points (Ibovespa/US$ finished down by 1.54% at 2,855 points). Trading volume was at US$370.856bn with some 21.306bn shares having changed hands. The Rio de Janeiro Stock Exchange Index (IBV-RJ) closed down 1.88% at 33,010 points (IBV/US$ closed down 1.95% at 10,266 points). Among the blue chips, Telebr s PN/US$ ended up 0.17%. Eletrobr s ended lower by 2.55%. Petrobras PN/US$ ended down 2.95%. Usiminas finished lower by 3.15%. CSN ended down 2.42%. All eyes were turned once again to Asia, with Japan at the center stage. Another devaluation of the yen did nothing but increase traders' fears, after China's president, Jian Zemin, was joined by the Fed's president, Alan Greespan, who said that Japanese authorities have not been fully engaged in preventing a possible wave of currency devaluations in the region. Consequently, international investor's worries over the fate of other emerging markets also grew, leading to a generalized fall in the emerging countries debt market. Brazilian Bradys and Globals led the fall, with the DCB and Braz 27 finishing down 7.89% and 7.33%, respectively. At the Futures and Commodities Exchange (BM&F), September contracts rose 0.05% to R$1.17390. October contracts finished up 0.09%, quoted at R$1.18385. The floating dollar was quoted at R$1.1745, down 0.03%, offering a premium of 0.46%. The black market dollar finished up 0.33% at R$1.227, offering a premium of 4.95%. The US commercial dollar Ptax ended at R$1.1692/R$1.1684 from R$1.1678/R$1.1676 registered last Friday. Last Friday, the Central Bank announced it conducted its second inner-band adjustment of the month of 0.09%, allowing the dollar to range between R$1.1650 (floor) and R$1.1740 (ceiling). (By Marcos Viesi)