Halister News

(Bloomberg) -- Aptose Biosciences rises 8% pre-market on 2.6k volume after HC Wainwright upgraded to buy from neutral, PT $4 from $1.

• Says co. made progress on the manufacturing process for CG’806 and is targeting the initiation of toxicology studies shortly
• Says an IND filing is targeted for 1H 2018, assuming clean toxicology studies, with the initiation of the clinical programs soon after that
• Notes the Ash conf. in December should provide more visibility on CG’806
• NOTE: Jan. 23, Aptose Pauses APTO-253 Development, Will Prioritize CG’806

To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Steven Fromm

See {NSN OVWRB63H65TS } for the European Central Bank press release.

See {NSN OVWRB63H65TS } for the European Central Bank press release.

(Bloomberg) -- Investors should switch into notes issued by Indonesian coal miner Bumi Resources for bigger gains as the rally in Indika Energy bonds cools, according to BNP Paribas.

• “Bumi is our top pick in the Indonesian coal sector,” the French bank says in a note Thursday. “The settlement deadline for the restructured Bumi bonds has been extended until Sept. 11, so the instruments would be free to trade from Sept. 12 onwards”
  • NOTE: Bumi Resources Starts Debt Exchange in Restructuring Plan
  • NOTE: Bumi Sees 2017 Profit at $350m on Higher Coal Price, Debt Recast
• Indika Energy’s 2023s have performed well since the bank started covering them when they were trading ~50 cents on the dollar due to coal price rebound and the co.’s refinancing efforts: BNP
• While the notes still offer “good carry” through the winter, there is little price upside seen with 2022s yielding 6.4% and 2023s at 6.7%
  • Risk for the bonds may be more supply in sector as “we hear few new Indonesian coal company mandates could price in the coming weeks”
  • Indika unlikely to benefit more from coal price increases this yr as only a small proportion of its coal contracts are pegged to benchmark spot price
• NOTE: Coal at Newcastle port +1.6% to $96.20 ytd; +87% in 2016

To contact the reporter on this story: David Yong in Singapore at dyong@bloomberg.net To contact the editors responsible for this story: Neha D'silva at ndsilva1@bloomberg.net Chan Tien Hin

Economic Release Details: {CNGFOREX Index ECOD}