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

To: dougjn who wrote (8823)	10/5/1998 10:51:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

No Doug, don't think we are sure. Apparently we won't be till as late as Friday. Regardless, Lula's stronger than expected showing is a disappointment. TBR generally goes down on good news, but based on the futures etc, I suspect today has more to do with the G7 meeting pulled off Japanese style...same old, same old. sf

To: dougjn who wrote (8823)	10/5/1998 10:52:00 AM
From: Steve Fancy	Respond to of 22640

First results show Cardoso winning Brazil election Reuters, Monday, October 05, 1998 at 08:38 (Published on Sunday, October 04, 1998 at 18:54) BRASILIA, Oct 4 (Reuters) - Preliminary official results show Brazilian President Fernando Henrique Cardoso narrowly on course to win a second term in Sunday's elections, the country's top electoral court said. With 2.8 percent of ballots counted, Cardoso had 50.6 percent of valid votes, just enough to avoid a second round run-off, the Superior Electoral Tribunal (TSE) said in a statement. Cardoso needs a majority of valid votes to win the election outright in Sunday's first round. An independent exit poll released earlier on Sunday said Cardoso was comfortably ahead with 56 percent of valid votes. According to the preliminary official figures from the TSE, left-wing candidate Luiz Inacio Lula da Silva pulled 37.14 percent of valid votes, higher than the 29 percent he was given in the exit poll. Cardoso is seeking to become Brazil's first re-elected president. The 67-year-old social democrat convinced Congress last year to reverse a ban on holders of executive office from serving two consecutive terms. He is favored to win the elections, mostly because of the popularity of an anti-inflation plan he introduced while finance minister in 1994 and which is now threatened by a major economic crisis. Copyright 1998, Reuters News Service