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

To: jayray who wrote (9391)	11/4/1998 10:33:00 AM
From: Steve Fancy	Respond to of 22640

Brazil dlr outflows slow to net $76 mln on Tuesday Reuters, Wednesday, November 04, 1998 at 07:57 SAO PAULO, Nov 4 (Reuters) - Capital flight from Brazil's foreign exchange market slowed to a net $76 million on Tuesday as traders predicted fewer Eurobonds and foreign loans would come due in November, taking pressure off the market, traders said. Tuesday's net outflow, which was result of a net $90 million inflow in the commercial forex market and a net $166 million outflow from the floating market, compared with a net outflow of $237 million from both markets on the previous trading day. Brazil's currency markets have suffered heavy dollar outflows since Russia defaulted on its debt and devalued its currency in mid-August. Dollar outflows have drained the country's foreign currency reserves to between $43 billion and $44 billion by last week from $70 billion at the end of July. Markets lost a huge amount of dollars as high interest rates also prevented Brazilian players from rolling over their foreign debt. However, traders said the capital flight was slowing down as about $800 million in foreign bonds and loans were seen coming due this month compared to a total $3 billion in October. Copyright 1998, Reuters News Service

To: jayray who wrote (9391)	11/4/1998 11:10:00 AM
From: jayray	Read Replies (1) \| Respond to of 22640

Brazil Telebras spin-offs may start NY trade soon Reuters Story - November 04, 1998 10:52 BRASILIA, Nov 4 (Reuters) - The privatized spin-offs of Brazil's former telephone giant Telebras may start trading on the New York Stock Exchange (NYSE) beginning November 11 or 18, the Communications Ministry said on Wednesday. NYSE listings of 11 of the 12 companies created after Telebras's privatization in late July were approved by the U.S. Securities and Exchange Commission (SEC) on Tuesday.