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

To: djane who wrote (8046)	9/15/1998 2:24:00 PM
From: djane	Read Replies (2) \| Respond to of 22640

Brazil shares surge 15 pct in strong correction Tuesday September 15, 1:53 pm Eastern Time (Note: this article is ''in progress''; there will likely be an update soon.) SAO PAULO, Sept 15 (Reuters) - Brazilian stocks roared upward in midday trade on Tuesday, in what traders called a strong correction of recent panic selling that had sent prices plunging below share value. ''The market is going crazy right now and any excuse is valid for investors,'' John Carioba at brokers Indusval said. The 57-share Bovespa index rocketed up 15.0 percent to 6,692 points at 1424 local time/1324 EDT/1724 GMT. The index started down by more than 3 percent following weak interest at the privatization auction of power utility Gerasul . Telebrasshares soared up 20 percent on the rally. (Note: this article is ''in progress''; there will likely be an update soon.) Copyright c 1998 Reuters Limited. All rights reserved.