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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: IceShark who wrote (18282)	2/5/1999 12:30:00 PM
From: MythMan	Respond to of 86076

yeah...not sure it is wise for them to be doing that. -ng-

To: IceShark who wrote (18282)	2/5/1999 12:58:00 PM
From: MythMan	Read Replies (1) \| Respond to of 86076

not much volume down there..... >>Friday February 5, 9:55 am Eastern Time Brazilian shares off 3 pct on IMF disappointment SAO PAULO, Feb 5 (Reuters) - Brazilian stocks were 3 percent lower by midday Friday as investors were disappointed Thursday's statement by the International Monetary Fund (IMF) lacked fresh developments, traders said. The Bovespa index (^BVSP - news) of blue chip shares were down 3.07 percent to 8,387 points, with benchmark Telebras losing 2.63 percent to 122.20 reais. Trading was very light on the exchange, with only about $63 million worth of shares changing hands by midday, as investors shied away from the market, dealers said. ''People were a bit frustrated that there were no political nor economic news to yesterday's IMF statement,'' said a trader at Banco Santander in Sao Paulo. On Thursday, the Bovespa had recovered from a morning dip of 3 percent by the close, as market players pinned hopes on a news conference by the IMF and Finance Minister Pedro Malan, which took place after the session closed. Some traders said the statement failed to address exactly when the next disbursement of IMF's $41.5 billion emergency loans was entering Brazil, which markets are awaiting. No concrete measures on how the Central Bank would start intervening in the foreign exchange market were spelled out either, some said. Market players were speculating the IMF and the Brazilian government would announce new steps to contain volatile swings in the country's foreign exchange markets following last month's devaluation. Among other blue chips, Petrobras was down 5.16 percent to 147 reais while Eletrobras dipped 3.55 percent to 27.20 reais.<<