Putin On The Brink
The attack on Ukraine has not gone well for Vladimir Putin. The Russian Ruble has lost 30% of its value and the country's central bank has upped interest rates to 20% to try to retain foreign owners. Crude oil continues to be a winner but less so than over the past weekend, as it is now $.95/barrel rather than over $1.05.
For the first time in history, Swiss banks have penalized account owners for political actions and joined a SWIFT boycott. My husband thinks Putin will be removed but I don't agree. I think Russia is set up to stick with him.
Palladium is the latest winner after gold topped $1916/oz. The greenback is also in demand.
Photo by Annie Spratt on Unsplash
Energy
*The energy sector saw a lot of crazy prices reflecting Russia's important role in supplying crude and gas.
*Plug Power is up 7.92%. PLUG.
*UUUU is up 5.25%. It is our best performer YTD.
*Azure Power gained 13.32%. AZRE.
*Petrobras of Brazil surprised with a big profit win and a dividend of $1.1/sh. But the share price fell. PBR.
*BP is exiting its joint venture in Russia.
*Norwegian Equinor also will exit Russia. EQNR.
*Schlumberger Ltd is down 2.56%. SLB.
Transport
*NIO will delay reporting its results for one month because of the upheaval in China where it makes its cars.
*Deere is up 1.9%. DE.
Pharma
*It is Glaxo's investor day but I am not joining. GSK.
*Teva won a decision that is alvotech is equivalent to Humira but in this market there has been no reaction. TEVA is down 2.51%.
*Bristol Myers fell too despite getting an FDA review slot for its opdivia against lung cancer. BMY.
*Dr. Reddy's of India fell 2.86%. RDY.
Finance
*Bank of Nova Scotia will take control of its Chilean bank after buying out Grupo Said. BNS.
*Yandex is among the ruble rubble stocks. YNDX.
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