May-hem - Sterling Collapses

Benitec Biopharma received A$636,056 cash refund for the year 2016 under the Australian Federal Government’s R&D Tax Incentive Scheme. BNTCY was boosted thereby.

North & South

Input Capital, INPCF, our most recent buy, declared another 1 loony cent dividend, its third, which was not earned. Its annual payout is C$0.04. But it is not a yield stock if it doesn't earn its divvies.

Eduardo Garcia reports that Cemex will deliver 60,000 cubic meters of special concrete to Alabama for the expansion of the local Mercedes Benz luxury car plant. Eduardo edits sentidocomun.co.mex with which we exchange news. CX is gaining from the buy-America wave in los Estados Unidos.

Technology

Plans by its founders to sell 12.75% of the shares they own in Infosys have taken the INFY stock down 2% in Friday's US premarket trading.

Autoliv of Sweden said that it expects to beat its end-2016 sales target of $12 bn.

Some of the excitement over high predicted gains for Alibaba spilled over to the market for Tencent which rose sharply Friday. However TCTZF did not hit a new high like BABA. Both firms are headed by men named Ma, who are not related.

Bankers

Banco Santander gained 4.14% Thursday after its takeover for 1 euro of Banco Popular, in part because euroland looks like a potential haven as the US and the UK face political upheaval.

Moody’s downgraded all 6 big Canadian banks. Back in 2008 during the global financial crisis, the credit watchdogs were accused of neglecting their job of warning about risks. Now one of them has said that the real estate market and excessive consumer debt up north can cause problems for banks. To quote The Moneyletter, “Moody’s is not a sleeping watchdog this time around.” However I think Bank of Nova Scotia is cutting its property and credit card risk, and has gains to book from its special sauce: operating banks and investment banking in emerging markets.

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