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

To: djane who wrote (7122)	8/26/1998 10:54:00 AM
From: djane	Respond to of 22640

Brazil's Bovespa seen down on Russia fears [I thought Brazil isn't Russia...] Wednesday August 26, 9:22 am Eastern Time SAO PAULO, Aug 26 (Reuters) - Brazilian shares were seen falling for the sixth straight session on Wednesday as investors dump emerging market stocks in a bid to make up for losses in Russia that could result from the debt restructuring there, market players said. ''The market is going to open under fire as a result of the announcements in Russia,'' said Martin Arranz, a fund manager at Banco Patente. ''A lot of investors are going to have to raise cash quickly to cover that.'' On Tuesday, Sao Paulo's key Bovespa index slipped 0.09 percent amid very light trading to 7,648 points, bringing losses this month to 28.5 percent. Late on Tuesday, Russia announced plans to restructure $40 billion in short-term domestic debt into longer-term paper. Concern over a looming financial crisis shook markets on Wednesday and U.S. stocks were set to open down, traders said. The Brazilian government has repeatedly denied speculation that the country's markets will come under pressure as a result of the turbulence in Russia. On Tuesday, Finance Minister Pedro Malan pointed to an editorial in ''The Wall Street Journal'' titled ''Brazil is not Russia,'' as proof that investors are increasingly discerning between different emerging markets, newspapers reported. The assurances have failed to calm debt and stock markets, however. The C-Bond, Brazil's benchmark foreign debt fixed-income instrument, tumbled 4.625 percentage points to 53.50 in morning trading. Foreign investors yanked a net 1.194 billion reais the Bovespa in the first 20 days of August alone, bigger than any monthly net withdrawal in the exchange's history. The foreign exchange market, however, has been calm, traders said. A large inflow of cash as a result of privatizations is expected to offset outflows, leaving net foreign reserves close to $70 billion, economists said. Stocks were seen extending already considerable losses on Wednesday amid light trading. ''Volume should be very light and mostly concentrated in Telebras,'' (TELB4.SA), a trader at a local brokerage said. ''Prices are very cheap, but the market has no fundamentals now.'' Bluechip activity Tuesday: Telebras (TELB4.SA) up 0.20 pct at 98.50 reais Petrobras (PETR4.SA) down 2.50 pct at 156.00 reais Eletrobras (ELET6.SA) down 2.86 pct at 23.80 reais Vale do Rio Doce (VALE5.SA) down 4.12 pct at 16.30 reais Sao Paulo stock exchange's Bovespa index of the 58 most-traded shares: * Tuesday: down 0.09 pct at 7,648 points * Week: down 1.4 pct * Month: down 28.5 pct * Year-to-date: down 24.9 pct SELIC (open): 2.08 pct Dollar/Real (open): 1.1735 per dollar YESTERDAY'S STORIES (\SUR) ***** SPOT REAL QUOTES BOVESPA STOCK INDEX <.BVSP> ELECTRICAL ENERGY INDEX <.IEE> BRAZILIAN ADR PRICES BRAZILIAN BRADY BOND PRICES <2LDO> BRAZILIAN DOLLAR FLOW HISTORY Related News Categories: international, US Market News Help Copyright c 1998 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon See our Important Disclaimers and Legal Information. Questions or Comments?

To: djane who wrote (7122)	8/26/1998 11:24:00 AM
From: chirodoc	Respond to of 22640

yep, i am in the market for some more bought a bit at 95 then 85 looking to buy more in high 70's then i will buy a bit more for each 5 points that it drops if it gets into the 60's we should sell the house and kids i won't load up till i think it has bottomed where is the bottom? who the hell knows i think it came out in the 60's didn't it? 60-80 makes sense for the next couple months but i am just guessing in the 70's the p/e must be 5? anybody know? curtis

To: djane who wrote (7122)	8/26/1998 11:43:00 AM
From: MGV	Read Replies (1) \| Respond to of 22640

Anyone else doing any buying? When its under 80, and I'm sticking to it.