Halister News

(Bloomberg) -- “Message about next week’s Selic rate decision - clearly in favor of a 100bps cut - was contained in the very wording of the report, instead of relying on any indirect inference based on the conditional forecasts,” according to report signed by analysts led by Eduardo Loyo.

• Keeps call for 100bps cut next week, 9% terminal level for Selic rate
• Correction didn’t affect conditional forecasts under assumption that Selic will decline in accordance with market consensus
  • Correction altered the implied sensitivity of inflation to Selic, which would be important if no scenario pointed to on-target CPI, thus being necessary to calculate “how far rates could move in order to deliver inflation convergence”
• NOTE from April 4: BCB corrects inflation report to add lower CPI forecasts
• NOTE: Brazil Central Bank: It’s possible rates fall below structural

Economic Release Details: {POREANN Index ECOD} --WOJCIECH MOSKWA

(Bloomberg) -- Evotec shares rose as much as 5.2% to highest since 2002 after co. said a strategic alliance with Sanofi on diabetes research reached an “important” milestone.

• Shares trade at EU9.771, up 3.4%, as of 11:23am local time
• Stock up for 8th consecutive day, longest streak since Sept.
• Milestone marks the first positive results from diabetes alliance with Sanofi, Igor Kim, a healthcare and biotech analyst at Oddo & Cie., writes in client note
  • Novel therapeutic approaches based on restoring beta- cell mass can potential reduce or eliminate need for insulin injections: Kim
  • Says milestone payments already considered in brokerage’s prognosis, estimates unchanged
• NOTE: Evotec Achieves First Milestone in Diabetes Alliance With Sanofi
• Evotec up 3.1% at 11:51am vs 0.2% drop in TDXP

(Bloomberg) -- The Securities and Futures Commission reprimanded Guoyuan Securities Brokerage (Hong Kong) and fined it HK$4.5m for failure to conduct proper inquiries and scrutiny to mitigate the risks of money laundering and terrorist financing when processing third party fund transfers for clients between September 2010 and July 2012, the regulator says in statement on website. Link to Statement:Link