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

To: Steve Fancy who wrote (6631)	8/13/1998 2:51:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Bovespa posts 132 mln real foreign outflow Aug1-10 Reuters, Thursday, August 13, 1998 at 09:40 SAO PAULO, Aug 13 (Reuters) - The Sao Paulo Stock Exchange (Bovespa) said Thursday it saw net foreign capital outflows of 132.5 million reais in the August 1-10 period. Foreign buys during the period totaled 760.53 million reais, while foreign sales amounted to 893.06 million reais, the bolsa said in a statement. The figures resulted in accumulated net foreign inflows of 1.087 billion reais so far this year. The exchange reported a net foreign inflow of 423.12 million reais for the month of July, after posting two consecutive months of net outflows. ($1=1.1723 Brazilian reais) Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (6631)	8/13/1998 2:53:00 PM
From: Steve Fancy	Respond to of 22640

Brazil Telesp (SAO:TLSP4) elects Xavier Reuters, Thursday, August 13, 1998 at 12:56 Meanwhile, Xavier was also elected as the president of the board of directors at Telerj Celular (SAO:TRJC6), the cellular phone firm serving Rio de Janeiro state, at its shareholder meeting on Thursday. Tele Sudeste Celular Participacoes, the holding firm grouping the cellular phone operations in Rio de Janeiro state, was also bought by a consortium led by Telefonica. Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (6631)	8/13/1998 3:02:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil shrs reverse 9-day loss on bargain hunting Reuters, Thursday, August 13, 1998 at 14:38 SAO PAULO, Aug 13 (Reuters) - Brazil's key share index Bovespa (INDEX:$BVSP.X) jumped 3.53 percent in mid-afternoon trade as bargain hunting kicked in following nine consecutive sessions of losses through Wednesday, brokers said. The Bovespa was trading at 8,714 points by 1510 local/1810 GMT after opening mixed and flirting with Wednesday's closing level for most of morning trade. "In nine days prices fell back to the levels they were in January," a trader at a local brokerage said. "There are some good buying opportunities, but the tendency is still downward," said one local trader. The Bovespa lost 23 percent in the last nine sessions. "The market is really moving in conjunction with the C-Bonds," he added. The C-Bond, a Brazilian dollar denominated instrument which is traded overseas and is widely considered a benchmark for emerging market papers, was up 3.750 cents at 67.375 by mid-afternoon Wednesday. C-bonds were acting like a trigger for Brazilian stocks in the recent plunge. Sao Paulo's blue-chip share Telebras preferred (SAO:TELB4) spiked 3.99 percent to 114.60 reais, while Petrobras (SAO:PETR4) rose 2.85 percent at 199 reais. Eletrobras preferred B shares (SAO:ELET6), which lost about 10 percent on Wednesday hit by sales across the board, gained 8.78 percent to 29.60 reais. Meanwhile, in Brazil's currency market, the real was trading stable at 1.1715 reais against the dollar by mid-afternoon after closing at 1.1714 on Wednesday. noriko.yamaguchi@reuters.com)) Copyright 1998, Reuters News Service