Around the World's Markets: Sao Paulo

BRAZILIAN SHARES shot up 3 per cent in morning trade, as investors warmed to firmer prices on Wall Street and waited for the bellwether company Telesp to unveil good news.

The Bovespa index of leading shares was up 3.09 per cent to 12,126 points by midday.

The stock exchange suspended trading in telephone operator Telesp, Cia Telefonica da Borda do Campo and their holding company Telesp Participacoes, pending announcements.