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

To: md1derful who wrote (6562)	8/12/1998 2:52:00 PM
From: Steve Fancy	Respond to of 22640

TABLE-Brazil's Telebrasilia (SAO:TBRS3) H1 net profit Reuters, Wednesday, August 12, 1998 at 14:40 SAO PAULO, Aug 12 (Reuters) - Brazilian fixed-line telephone company Telebrasilia (SAO:TBRS4), covering the capital city, released following financial results for 1998's first half on Wednesday. 1998 H1 1997H1 Net profit 36.75 mln n/a Net oper revs 203.01 mln n/a Oper profit 54.43 mln n/a Pre-tax profit 54.30 mln n/a Net worth 832.50 mln n/a NOTE: All figures are in Brazilian reais and not adjusted for inflation. Comparative figures for the previous year were not available. ($1=1.1715 reais) Copyright 1998, Reuters News Service

To: md1derful who wrote (6562)	8/12/1998 3:00:00 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

Brazil shrs slip 2.51 pct on emerging market woes Reuters, Wednesday, August 12, 1998 at 14:47 SAO PAULO, Aug 12 (Reuters) - Brazil's key Bovespa (INDEX:$BVSP.X) index slumped 2.51 percent in afternoon trade, reversing morning gains of up to 2.99 percent on emerging market concerns and falling C-Bonds, traders said. "This is a third world thing with investors selling emerging markets," a trader from Finambras brokerage said. "It started with C-Bonds falling and led to stocks." Sao Paulo's Bovespa index of the 58 most traded shares tumbled 2.51 percent to 8,581 points amid a general decline in Latin America bourses. Telebras (SAO:TELB4) led declining shares with a 2.89 percent drop to 111.0 reais. The C-bond, a Brazilian dollar-denominated instrument traded overseas, is widely considered a benchmark for emerging market bonds. It fell 6 percent from its highest point on Wednesday on concern that investors could abandon emerging markets amid prolonged financial problems in Russia and Asia, traders said. Brazil's currency market was not affected. Mexican stocks fell 1.45 percent and Argentine shares slumped 0.85 percent. Brazilian stocks also suffered as Bovespa index futures expired on Wednesday. Stocks are generally more volatile around the expiration date of index futures. "The expiration of the index and new declines in Brady bonds are pushing stocks down," a trader said. shasta.darlington@reuters.com)) Copyright 1998, Reuters News Service