HALISTER: Daimler 1Q Profit Beats, Rev. Misses; Guidance Reiterated

Daimler 1Q Profit Beats, Rev. Misses; Guidance Reiterated

(Bloomberg) -- Daimler 1Q Ebit from ongoing business EU2.68b, est. EU2.60b. Yr ago EU2.93b.
  • Rev. EU35b, est. EU36.2b. Yr ago EU34.2b
  • Outlook: Reiterates forecast for slight growth in group Ebit, significant growth in unit sales
  • NOTE: Co. in Feb. forecast slight growth in 2016 revenue, Mercedes cars profit; truck profit at prior year’s level; ‘significant’ growth in total unit sales
  • Webcast 8am for journalists, 2pm for investors.
  • Preview
  • Earlier: Daimler: U.S. DOJ Requests Internal Investigation on Emissions
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
DAI GR (Daimler AG)

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HALISTER1: INSIDE G-10: Yen Falls on Possible Negative Loan Rate Program

INSIDE G-10: Yen Falls on Possible Negative Loan Rate Program

(Bloomberg) -- USD/JPY jumped to highest in two weeks as BOJ officials are said to be eyeing possible negative rate on loans. Pair was supported earlier as 23 of 41 analysts surveyed by Bloomberg expect an easing in policy, with more buying of ETFs seen.
  • USD/JPY +0.47% to 109.99 vs 109.26/110.19 range
    • Any discussion could happen together with any decision to make deeper cut to the negative rate on reserves, said people familiar with talks at BOJ; Stimulating Bank Lending Facility would be the most likely vehicle for this option, they said
    • Upside heavy before FOMC, BOJ meetings, says SMTB
    • CBA recommends buying a 2-week USD/JPY call for BOJ, FOMC
  • AUD/USD +0.10% to 0.7746 vs 0.7736/0.7774 range
    • Exporters buying below 0.7750, with leveraged account sell stop-losses under 0.7730 ahead of much larger exporter buy orders at 0.7680, trader says
    • Buy AUD/NZD on monetary divergence Societe Generale says in April 21 note
    • Economists see 1Q CPI rise of 0.2%, survey shows
  • USD/CAD -0.17% to 1.2713 vs 1.2687/1.2736 range
    • Options expiring today include 1.2700 strikes for $335m
  • BBDXY +0.01% to 1,117.30
  • NZD/USD steady at 0.6912 vs 0.6904/0.6936 range
  • EUR/USD +0.07% to 1.1296 vs 1.1282/1.1309 range
    • Greek reforms head in right direction, Dijsselbloem says Thursday
    • ECB will delay publication of EUR fixings starting July
  • GBP/USD +0.17% to 1.4347 vs 1.4314/1.4356 range
    • Osborne says second Brexit impact report in May
    • Options expiring today include 1.4300 strikes for GBP401m
  • Treasury 10-year yield steady at 1.861%
  • Brent crude futures +1.4%, copper -0.8%, gold -0.1%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Turkey Mkt Regulator Rules to File Complaint Against Akin Ipek

Turkey Mkt Regulator Rules to File Complaint Against Akin Ipek

(Bloomberg) -- Capital Markets Board in Ankara to file criminal complaint against Koza Altin former chairman Akin Ipek, former deputy chairman Cafer Tekin Ipek and 2 other individuals, it says in weekly bulletin.
  • Board says actions of 4 individuals during construction of Himmetdede gold mine resulted in diminishing of assets or profit of Koza Altin
  • NOTE: Turkey’s Koza Charged With Money Laundering to Fund Gulen: AA, Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
KOZAL TI (Koza Altin Isletmeleri AS)
1288411D TI (Koza-Ipek Holding AS)

People
Cafer Ipek (Koza Altin Isletmeleri AS)
Hamdi Ipek (Ipek Dogal Enerji Kaynaklari Ve Uretim AS)

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HALISTER1: Singapore Bond Yields Drop for First Time in Three Days; SGD Up

Singapore Bond Yields Drop for First Time in Three Days; SGD Up

(Bloomberg) -- Yield on 10-year Singapore government bonds falls 3 bps to 1.959%; yield on 30-year down 2 bps to 2.600%.
  • Singapore 5-year interest-rate swaps decline 5 bps to 1.9750%
  • USD/SGD down 0.1% to 1.3479
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: INDIA RATINGS: Nirmal Lifestyle, SJP Cut; Sova Ispat Raised

INDIA RATINGS: Nirmal Lifestyle, SJP Cut; Sova Ispat Raised

(Bloomberg) -- Here’s a roundup of debt-rating changes of Indian cos.
  • To get this story sent to your inbox real-time, run {NI INRATINGS }, click on Display & Edit, then Set Alert Delivery
DOWNGRADES
  • Abhinav Steels
    • LT bank facilities cut to D from B+ at Care
    • Cites ongoing delays in servicing of debt obligations
  • Fucon Technologies
    • LT loan facilities cut to D from C at Crisil
    • Cites delays in servicing debt due to weak liquidity
  • Maharaja Agro Foods
    • LT loan facilities cut to B from BB- at Crisil
    • Expects liquidity to remain stretched
  • Nirmal Lifestyle
    • NCDs cut to B+(SO) from BB+(SO) at Crisil
    • Cites delay in launch of residency project by >15 mos
  • SJP Infracon
    • LT loan facilities cut to D from B at Crisil
    • Cites significant delays in servicing debt obligations
  • Three M Paper
    • LT bank facilities cut to BB+ from BBB- at Care
    • Cites decline in profitability
UPGRADES
  • Bindals Papers Mills
    • LT bank facilities raised to C from D at Care
    • Cites improvement in debt servicing track record
  • Greta Energy
    • Term loans raised to BB from BB- at ICRA
    • Cites improvement in operational profile
  • Patel Bridge Nirman
    • LT bank facilities raised to A from A- at Care
    • Cites successful operational track record of nearly 2 yrs of its annuity based rail over bridge
  • Shyam Steel
    • LT bank facilities raised to BBB+ from BBB at Care
    • Cites improvement in profitability margins, operating cycle, capital structure
  • Sova Ispat
    • LT bank facilities raised to BBB+(SO) from BBB(SO) at Care
    • Cites credit enhancement in the form of corporate guarantee by Shyam Steel Industries
  • Vetrivel Explosives
    • LT loan facilities raised to BB- from B+ at Crisil
    • Cites increase in operating revenue
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
7564772Z IN (Nirmal Lifestyle Ltd)
3866853Z IN (Shyam Steel Industries Ltd)
0691208D IN (Sova Ispat Ltd)
9255901Z IN (Three M Paper Manufacturing Co Pvt Ltd)

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HALISTER1: INSIDE ASIA: Won, Ringgit Lead Declines on Weekend Profit Taking

INSIDE ASIA: Won, Ringgit Lead Declines on Weekend Profit Taking

(Bloomberg) -- South Korea’s won and Malaysia’s ringgit are among the biggest Asian emerging currencies losers on possible profit-taking ahead of the weekend after overnight U.S. data revived speculation of Fed rate increases.
  • Asian currencies are lower today after USD initial claims dropped to lowest since 1973 and amid general profit-taking on Friday, Michael Every, head of financial markets research Asia Pacific at Rabobank, says in interview
    • Marginal shift in market view back towards possibility of Fed hikes
  • Futures pricing 63% chance Fed will lift rates by yr-end vs 50% end of last week; data on Thursday showed U.S. initial jobless claims at 247k vs median est. 265k
  • Japan’s 40-year yield falls to record low
    • BOJ survey shows 19 of 41 analysts predict central bank will increase ETF purchases next week; 8 expect boost in bond buying and 8 project BOJ to cut its negative rate
    • CBA recommends buy USD/JPY call for tactical short-term boost
  • Aussie gains versus dollar, set to snap two-day loss
    • SocGen recommends buying AUD/NZD on monetary-policy divergence
    • Selling seen in Aussie 10-year futures partly due to flow from yday’s $900m 10-year bond tender for Sydney Airport Finance Co., according to Asia-based rates trader
    • Australia’s sovereign wealth fund increased amount of cash it holds to almost one quarter of its A$117.4b portfolio as it says global central banks have less firepower to respond to economic weakness
  • China lowers fixing for second day
    • Goldman Sachs’s preferred measure sees nation’s FX outflows at $34b, similar to Feb. and still meaningful, though moderated significantly from Jan., according to note dated April 21
    • Nation to see return of tight liquidity, may spur RRR cuts, according to CIFM Asset Management Hong Kong
    • Chinese stocks poised for biggest weekly decline in almost 3 months on concern improving economic data will prevent further stimulus and corporate defaults will rise
  • Monetary Authority of Singapore says it is investigating brokers for possible breach
  • Won snaps 3-day rally, set for biggest decline since April 14
    • Bank of Korea Governor Lee says some positive signals are seen in economy, financial market instability eased from March
  • Treasuries steady, with yield on 10-year bonds at 1.861%; data today may show U.S. manufacturing PMI rose to 52 in April from 51.5 prior month: Bloomberg survey
  • Taiwan March unemployment rate was 3.92% vs est. 3.94%
    • March industrial production est. -5.50% y/y vs -3.65% prior month; data due today
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Michael Every (Rabobank International)

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HALISTER: BNP Said to Hire David Ratliff, 26-Year Veteran of Citigroup

BNP Said to Hire David Ratliff, 26-Year Veteran of Citigroup

(Bloomberg) -- Ratliff will join BNP Paribas as Asia-Pacific head of financial institutions coverage, two people familiar with matter say.
  • Ex-Citigroup banker will start around end of May, people say
  • Ratliff, most recently head of public sector group for region at Citigroup, will be responsible for financial institution clients from hedge funds, banks and insurance companies to pension funds, people say
  • Daniel Boyd, a spokesman at BNP, declines to comment
  • Ratliff was formerly Citigroup’s Asia head of equities and co-head of markets before becoming regional public-sector head late last year
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
BNP FP (BNP Paribas SA)
C US (Citigroup Inc)

People
David Ratliff (Citigroup Inc)
Daniel Boyd (BNP Paribas SA)

Topics
Who's News - People
Management Changes

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UUID: 7947283