E Markets: Volatile And Mixed

BLX shares are up nicely but still cheap because the name scares people. Its p/e ratio is 5.4x. The multilateral bank is owned by outfits like ExIm of the US and foreign state counterparts, other banks, and retail investors like us. It mainly finances trade in Latin America and the Caribbean but the funding comes in many different currencies. The bank will pay a dividend of 25 cents to shareholders as of August 10 on Aug. 25. It is up 11.9% today.

*AIA Group Ltd, AAIGF, rose 4.4% in Hong Kong today but fell 1.5% here. I think it can operate from another place in Asia if Hong Kong gets too hot for the life insurance business. Sampo Oij  SAXPY of Finland is up 0.33%. Swedish Investor IVSBF opened at $60. This is dollars in play

*Mexican REIT Fibra Uno will sell its factory sites and focus on retail and offices. FBASF.

Energy and users

*Azure Power of Mauritania which builds rooftop solar power systems in India today was named the Most Sustainable Company in the Solar Industry by World Finance, a magazine. Our source for the stock was Oeko-Invest of Austria, whose editor Max Deml is anti-carbon. AZRE, controlled by the Quebec pension plan, helps remote communities.It is socially responsible.

*After its surprisingly good results yesterday, Schlumberger Ltd. was tipped by venerable oil analyst Sarfaraz Khan today. He liked the cost cutting and layoffs of 21,000 staff and of course notes that if the dollar loses traction the price of oil will rise. SLB is controversial. Bank of Nova Scotia rates it neutral but cut its TP to $21 from 23. UBS upgraded it two notches to overweight with a TP of $19.5 vs $18 earlier. It is rated overweight by Morgan Stanley with a TP of $25 up from $23. Citibank rates it neutral. Take your pick. SLB fell 3.1% today. Oil stock fell, BP plc by 1% and Royal Dutch Shell B (RDS-B) by 0.9%.

*NIO rose 3.4% in Chinese trading today. It makes electric vehicles. NIO is up 5.9% here.

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Vivian Lewis 2 months ago Author's comment

I suspect that like me you can remember the earlier inflationary years. so buy physical gold as a hedge. vivian

William K. 2 months ago Member's comment

Did like this article! And I certainly agree that the long term result of the fed's policies and actions will be inflation. That was obvious to me from the first announcements, why wasn't it obvious to the Feds? Or perhaps it is far more on their agenda to protect the interests of their "friends"? At the expense of great damage to others?

And one nasty question is what will happen when it is time to repay all of those trillions of debt?? I predict that the debt will interfere with economic growth.