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

To: Steve Fancy who wrote (8381)	9/21/1998 10:52:00 PM
From: Steve Fancy	Respond to of 22640

Closing figures for Telebras Subsidiaries on the Bovespa for: 09/21/1998 Company Type Symbol OPEN HIGH LOW CLOSE CHG TRADES $ VOLUME ======= ==== ====== ===== ===== ===== ===== ===== ====== ============ EMBRATEL PAR ON * EBTP3 8.00 8.00 8.00 8.00 / 0.00% 1 40,000,000 EMBRATEL PAR PN * EBTP4 8.00 17.51 8.00 15.00 / 0.00% 53 179,400,000 TELE CL SUL PN * TCSL4 5.00 5.00 1.60 1.69 / 0.00% 22 55,200,000 TELE CTR OES PN * TCOC4 0.40 0.40 0.30 0.40 / 0.00% 17 78,000,000 TELE CTR SUL ON * TCSP3 0.00 0.00 0.00 0.00 / 0.00% 0 0 TELE CTR SUL PN * TCSP4 6.00 10.49 6.00 10.02 / 0.00% 52 114,400,000 TELE LEST CL PN * TLCP4 0.50 0.55 0.49 0.55 / 0.00% 15 55,000,000 TELE NORD CL PN * TNEP4 0.26 0.52 0.26 0.51 / 0.00% 10 45,000,000 TELE NORT CL PN * TNCP4 0.40 0.40 0.12 0.12 / 0.00% 10 31,000,000 TELE NORT LE ON * TNLP3 0.00 0.00 0.00 0.00 / 0.00% 0 0 TELE NORT LE PN * TNLP4 22.00 22.00 14.50 15.00 / 0.00% 46 141,300,000 TELE SUDESTE ON * TSEP3 0.00 0.00 0.00 0.00 / 0.00% 0 0 TELE SUDESTE PN * TSEP4 1.80 4.50 1.80 3.30 / 0.00% 34 95,200,000 TELEMIG PART PN * TMCP4 4.50 4.50 1.20 1.31 / 0.00% 22 61,200,000 TELEMIG PART ON * TMCP3 1.00 1.01 1.00 1.00 / 0.00% 4 53,000,000 TELESP CL PA PN * TSPP4 7.85 8.50 7.00 7.50 / 0.00% 55 110,000,000 TELESP PART ON * TLPP3 0.00 0.00 0.00 0.00 / 0.00% 0 0 TELESP PART PN * TLPP4 18.91 33.00 18.20 29.00 / 0.00% 260 487,500,000 TELESP PART PN * TLPP4T 31.66 31.67 31.66 31.67 0.00% 2 100,000 TELESP PART PN * TLPP4F 0.00 0.00 0.00 0.00 / 0.00% 0 0

To: Steve Fancy who wrote (8381)	9/21/1998 10:56:00 PM
From: Steve Fancy	Respond to of 22640

Hmmm, the file doesn't seem to include the change field on just the new listings...must be a glitch. Wait a minute, the change isn't listed because there is no previous close to compare against. The change field should work tomorrow. sf

To: Steve Fancy who wrote (8381)	9/21/1998 10:57:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil's currency weakens on dollar flight concern Reuters, Monday, September 21, 1998 at 17:11 SAO PAULO, Sept 21 (Reuters) - Brazil's currency weakened 0.04 percent on Monday even after the Central Bank intervened, on expectations of another day of dollar outflows, traders said. The real closed at 1.1815 to the dollar on the view that some $600 million could leave Brazil through its foreign exchange markets on Monday as dollar outflows begin to pick up speed again. Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (8381)	9/21/1998 11:23:00 PM
From: Steve Fancy	Respond to of 22640

World ready to help LatAm through crisis -- Franco Reuters, Monday, September 21, 1998 at 17:17 RIO DE JANEIRO, Sept 21 (Reuters) - Brazilian Central Bank President Gustavo Franco said Monday that international agencies were discussing a "protective net" for Latin American economies battered by a global crisis in emerging markets. "There is an intention to use international mechanisms to build a protective net, and a conversation is underway among international authorities," Franco told reporters after giving a speech to businessmen in Rio de Janeiro. He noted there was a "great will" among international agencies to help Latin American economies after a devaluation in Russia triggered a global crisis of confidence in emerging markets, battering local share and currency markets. "There is a great will internationally to attack this problem, which affects us in Latin America through the contagion we are experiencing," Franco said. Local economies were implementing necessary structural reforms and should not be lumped with Russia, he added. "The sensation is that Latin America has been doing its homework and should not have been shaken this much by the crisis in Russia," said Franco. "Clearly there is an interest for Latin American economies to continue their reforms." Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (8381)	9/21/1998 11:25:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's forex markets seen losing $600 mln Reuters, Monday, September 21, 1998 at 17:49 Last week, dollar outflows averaged just under $500 million daily. At 1800 local time, some $185 million had left through Brazil's commercial forex market, according to the Central Bank, while another $120 million had left through the floating forex market, traders said. Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (8381)	9/21/1998 11:27:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Cardoso may study tax increase -spokesman Reuters, Monday, September 21, 1998 at 18:34 BRASILIA, Sept 21 (Reuters) - Brazilian President Fernando Henrique Cardoso will consider raising taxes if his economic team recommends the measure, a presidential spokesman said Monday. "If (Finance Minister Pedro) Malan and the economic team take the proposal to him, he will study it," the spokesman told reporters at a regular briefing. Government officials until recently denied Brazil was considering raising taxes to slice its huge budget deficit, which economists say makes its currency vulnerable to speculative attack. "We are not considering this at the moment," Cardoso was quoted as saying in Estado de Sao Paulo newspaper on Saturday. Brazil's fiscal situation has come under the spotlight again after a devaluation in Russia triggered a global crisis of confidence in emerging markets, causing nervous investors to dump assets in Latin America's largest economy. The government has announced $5.17 billion in new spending cuts this month in an effort to convince investors it is committed to reducing its budget gap. Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (8381)	9/21/1998 11:33:00 PM
From: Steve Fancy	Respond to of 22640

Brazil Franco: Monetary Policy Best During Crisis - Agency Dow Jones Newswires RIO DE JANEIRO -- Brazilian Central Bank President Gustavo Franco said Monday that Brazil should use monetary policy to ensure stability during the international financial crisis, the Estado news agency reported Monday. "The response of a country that has nothing to do with this (crisis) has to be classic, orthodox, by means of monetary policy to safeguard purchasing power in the local currency," Franco said in a presentation to financial sector executives. Ten days ago, the Central Bank lifted the ceiling interest rate at which it lends to banks, known as the Tban, to 49.75% from 29.75%. One week before, it had suspended lending at the basic TBC rate of 19%. Both moves aimed to stem the alarming capital outflows. Franco, who has kept a low profile during the recent financial turmoil, said he hoped Brazil's capital outflows decline gradually as they did in the aftermath of the Mexican crisis in early 1995 and the Asian crisis in late 1997. He declined to comment on the current level of reserves, estimated by the market at $50 billion.