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

To: Steve Fancy who wrote (11850)	1/15/1999 3:49:00 PM
From: Steve Fancy	Respond to of 22640

Added 5 to my collection of TNEDV today. I think we could hear the auction of BNDES remaining stake in TNE anytime now. Amazing no ones buying them. This stock should be over 20 by then. Waiting till next week to bolster my position in UBB and TSP. Quite the run today. Seems some kind of pull-back is in order early next week. What a day. sf

To: Steve Fancy who wrote (11850)	1/15/1999 3:54:00 PM
From: Steve Fancy	Respond to of 22640

Brazil shares surge on, up 30 pct within last hour Reuters, Friday, January 15, 1999 at 14:49 SAO PAULO, Jan 15 (Reuters) - Brazilian stocks surged ahead, with the bluechip Bovespa index (INDEX:$BVSP.X) up a spectacular 30 percent within the last hour of trade, after the Central Bank floated the local currency, real, today, traders said. The Bovespa was up 31.45 percent at 6,648 points, with the market's benchmark issue Telebras preferred (SAO:RCTB40) gaining a whopping 41.73 percent to 98.50 reais. Traders said investors were taking advantage of Friday's rally and hunting down cheap blue-chips after they lost heavily over the past month on the bourse. Investors had been dumping Brazilian assets on the back of a murky outlook of the country's currency and interest rates. Steep falls in the Bovespa in the last two sessions have triggered the market's circuit breaker, which goes off every time the index drops 10 percent. The Central Bank's move on Friday came as a relief to the stock market as investors were worried Brazil will not be able to weather a massive wave of dollar outflows from its currency markets, reported at over $5 billion so far this month. Traders said some investors were also buying stocks while it remained uncertain where the real would settle. "There are some people who want to get rid of the reais they have stocked up," said one local broker. "So they are putting them in cheap equities." Among other blue-chips, preferred shares of oil giant Petrobras (SAO:PETR4) was up 18.39 percent at 103 reais, while utility Eletrobras (SAO:ELET6) gained 37.69 percent to 19.69 reais and iron ore miner Vale do Rio Doce (SAO:VALE5) jumped 48.32 percent to 25.20 reais. noriko.yamaguchi@reuters.com)) Copyright 1999, Reuters News Service

To: Steve Fancy who wrote (11850)	1/15/1999 3:56:00 PM
From: Steve Fancy	Respond to of 22640

Fed's Moskow still optimistic long-term on Brazil Reuters, Friday, January 15, 1999 at 15:13 CHICAGO, Jan 15 (Reuters) - Chicago Federal Reserve Bank President Michael Moskow on Friday said he was still optimistic about the longer-term outlook for Brazil. "On a long-term basis, I'm optimistic about Brazil as a place to do business," Moskow said in a question-and-answer session after a speech to a business group here. Moskow declined to speculate on the direction of the Brazilian real currency or on current developments in Brazil. Brazil's Central Bank on Friday decided to let the real float and said it removed its maxi-band and would set new foreign exchange rules on Monday. chicago.derivatives.newsroom@reuters.com)) Copyright 1999, Reuters News Service

To: Steve Fancy who wrote (11850)	1/15/1999 3:59:00 PM
From: Steve Fancy	Respond to of 22640

Little direct U.S. aid seen for Brazil - McTeer Reuters, Friday, January 15, 1999 at 15:15 SAN ANTONIO, Jan 15 (Reuters) - The president of the Federal Reserve Bank of Dallas, Robert McTeer, on Friday said the United States will likely help Brazil overcome its financial crisis, but probably will offer little direct aid. "I doubt there will be much direct (U.S.) aid. I think most of what will be done for them will be through international agencies like the IMF (International Monetary Fund)," McTeer told business executives in San Antonio. Brazil allowed its currency, the real, to float freely on Friday after losing billions of dollar of foreign exchange reserves defending it earlier in the week. The real fell 7.7 percent on Friday to 1.43 reais per dollar, following an 8.2-percent slide on Thursday. McTeer said it was too early to tell whether Brazil's problems would remain confined to that country or would spread to other Latin American nations. Turning to Japan, McTeer said he saw no signs of economic improvement and that the country seemed to be in a "deflationary spiral." "It's very hard for them to get the Japanese people in a spending mood," the regional bank president said. "They need to be the engine of growth for the rest of Asia. They're the opposite right now." Copyright 1999, Reuters News Service

To: Steve Fancy who wrote (11850)	1/15/1999 4:00:00 PM
From: Steve Fancy	Read Replies (6) \| Respond to of 22640

Brazil's Fipe sees 1999 inflation rising to 6 pct Reuters, Friday, January 15, 1999 at 15:43 SAO PAULO, Jan 15 (Reuters) - Brazilian inflation should accelerate to 6 percent in 1999 with the move to a free floating currency from deflation of 1.8 percent in 1998, the University of Sao Paulo's Economic Research Institute (Fipe) said Friday. "The increase in inflation will fall far short of the percentage devaluation of the currency," said Juarez Rizzieri, president of Fipe, which publishes Brazil's benchmark consumer price index with data collected in the Greater Sao Paulo area. Copyright 1999, Reuters News Service