Halister News

Economic Release Details: {HBBRANN Index ECOD} --BALAZS PENZ

(Bloomberg) -- Treasury futures (TY1) technical levels in focus.

• Daily trend bias: Bearish
• Comment: Downside profile raised after closing break below 55-, 100-DMAs located at 126-06/126-09; attention remains on nearby 125.31+ Fibonacci line; below here opens up deeper downside levels (125-17)
  • Resistance: 126-09; 126-18
  • Support: 126-01; 125-31+; 125-29; 125-21+
• NOTE: Contract rolls with active futures on GFUT (no adjustments)
• NOTE: Sejul Gokal is a FICC technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice

To contact the reporter on this story: Sejul Gokal in London at sgokal1@bloomberg.net To contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net Scott Hamilton

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.

• To get this story sent to your inbox real-time, run NI INRATINGS, click on Display & Edit, then Set Alert Delivery

DOWNGRADES

• GMR Infrastructure
  • Long-term bank facilities cut to BB from BBB- at Care
  • Cites weakened liquidity position
• Surat Hazira NH-6 Tollway
  • LT bank facilities cut to D from C at Crisil
  • Cites delays in interest payment on term loan due to weak liquidity

UPGRADES

• Amanta Healthcare
  • LT bank facilities raised to BBB from BBB- at Care
  • Cites ramp up in production
• Jagson International
  • Term loan raised to BBB+ from BBB at Brickwork
  • Cites promoters experience
• Mold-Tek Packaging
  • LT fund-based limits raised to A from A- at ICRA
  • Cites healthy demand from existing customers
• Shree Sidhbali Steels
  • LT bank facilities raised to BB- from B+ at Crisil
  • Cites improvement in financial risk profile

--PAUL GORDON

(Bloomberg) -- Mavi Giyim shares advance as much as 3% to 54.50 liras, extending gains since the Turkish jeansmaker’s June IPO to 28%, after HSBC initiates the stock with a buy rating.

• Mavi now has four buy ratings, 0 holds or sells, according to Bloomberg data
• “Mavi has sector-leading sales growth rates, strong market share and high retail expansion in Turkey, a diversified product portfolio and a growing brand image,” Bulent Yurdagul, analyst at HSBC Securities, writes in report
  • 12-month PT set at 64 liras, implying 21% gain from yesterday’s close
  • Expects Mavi to add ~350bps of Ebitda margin over the next 5 years based on strong sales growth, economies of scale, expansion into higher-margin retail operations and stronger pricing power from active category management
• NOTE: Shares have gained for five consecutive days, up 11% over the period

To contact the reporter on this story: Tugce Ozsoy in Istanbul at tozsoy1@bloomberg.net To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net Beth Mellor

(Bloomberg) -- Bund futures (RX1) technical levels in focus.

• Daily Trend Bias: Bearish
• Comment: Remains on track to test moving-average zone 160.70-58 (100-, 55-DMAs) as momentum indicators languish, skewing risks to the downside; oversold signs to be monitored closer to 160.22 area (200-DMA)
  • Resistance: 161.36-42; 161.67; 161.82; 162.05-07
  • Support: 160.86-80; 160.70-58; 160.50
• NOTE: Roll-adjusted by difference in GFUT
• NOTE: Sejul Gokal is a FICC technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice

To contact the reporter on this story: Sejul Gokal in London at sgokal1@bloomberg.net To contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net Anil Varma