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

To: Steve Fancy who wrote (8862)	10/6/1998 10:23:00 AM
From: Steve Fancy	Respond to of 22640

Brazil's Cardoso Has 52.1% Of Vote - 78% Ballot Boxes In Dow Jones Newswires SAO PAULO -- Brazilian President Fernando Henrique Cardoso was slowly stretching his lead and consolidating his first-round victory in the presidential election, according to returns announced by the Electoral Court Tuesday. With 78% of the ballot boxes in and 65% of the total votes counted, Cardoso of the Social Democratic Party, or PSDB, had increased his share of the valid votes to 52.1% from 51.0% Monday afternoon. He needs 50% plus one vote to avoid a run-off election. Leftist challenger Luiz Inacio Lula da Silva of the Workers Party, or PT, had dropped to 32.9% from 34%. A third contender, Ciro Gomes, of the Popular Socialist Party, or PPS, had dipped to 10.9% from 11.1%. Cardoso's campaign directors said that his final results should be around 54% of the valid vote. After all the results from the electronic ballot boxes were in on Monday, representing 56% of votes, the Electoral Court is now tabulating the manual ballots from the interior regions, where traditionally the standing government is more popular. Final results won't be available until Friday. Neither Cardoso nor Lula have made public statements since Sunday's elections. Of the votes counted thus far, 12.1 million were either blank or voided. Voting was obligatory for the 106 million Brazilians between the ages of 18 and 70.

To: Steve Fancy who wrote (8862)	10/6/1998 10:25:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

German Bks: Brazil Aid Package Of $30B Seen Appropriate Dow Jones Newswires -- October 6, 1998 Dow Jones Newswires WASHINGTON -- Martin Kohlhaussen, the president of the Association of German Banks, said Tuesday that an aid package to Brazil of about $30 billion would be appropriate. He downplayed needs for rolling over Brazilian debt. Kohlhaussen, who said he's seen the maturity list of Brazilian debt, said that capital market financing due by the end of 1999 totals roughly $15 billion while trade financing due by the end of 1999 is about $25 billion. Kohlhaussen, who is also the chairman of Commerzbank AG (G.CBK), said there's no reason to "dramatize" the Brazilian situation based on these debt figures. He was speaking at a press conference on behalf of the association.

To: Steve Fancy who wrote (8862)	10/6/1998 10:28:00 AM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

Portugal De Sousa To Hold Press Conference At 2000 GMT Dow Jones Newswires WASHINGTON -- Portugese Central Bank Governor Antonio de Sousa will hold a press conference at 2000 GMT here in Washington, the central banker said Tuesday De Sousa declined to comment from questions on Dow Jones Newswires on Spain's decision to trim its repurchase rate to 3.75% from 4.25%. He also declined to comment on the rate outlook for Portugal. The next opportunity for any Bank of Portugal rate cut would be Friday. De Sousa who is attending the joint annual International Fund and World Bank meeting, earlier told journalists that he expected euro zone interest rates to converge on the core rates in the region. The euro zone's core members, Germany and France, currently have their repo rates at 3.3%. The 11-member euro zone will have to have a common short-term interest rate by Jan. 1, 1999 when the euro is formally established.