Today we visited our youngest grandchild's school and were highly impressed by how the science in the 7^th grade makes use of i-pads and internet to teach the kids about how digestion functions, just about at the ideal moment between their mockery over pee and pooh and their interest in body functions that matter. I was with the other grandma, an MD, but to be totally honest, despite having had biology classes in high school when I was a couple of years older than the kid, I never learned about the marvels of the human digestive process in chemistry and physiology The MD had but she was already in college doing pre-med. As she drove us back I was impressed by the directions she was getting from her cellphone as she drove through the Boston area. I am no longer much of a driver in New York City and I have little to do with education, Technology is great!

The big news today is how many people are cheats. The United Auto Workers union used its vacation camp to win members reluctant to strike on behalf of rival companies. Rudy Giuliani used his role as President Trump's lawyer to try to win not just Ukrainian clients but Venezuelan ones. Trump spent his charity's money on his campaign for the White House rather than for good works. Epstein overstated the benefits from his Virgin Islands charity a hundredfold.

I was mistaken about when Santander would report so they are not here today. But there is good news all the same for which we can give thanks, from Britain, France, Germany, and Ireland plus a caution on overoptimism over Israel.

Pharma

*Genfit of France, our second most recent pharma stock buy, rose over 3% after the data safety monitoring board recommended that its phase III trials for elafibranor to treat non-alcoholic stereo-hepatitis continue without changes after 42 months because there are no safety concerns. That means the trial will conclude early next year and allow for applications for its launch later in 2020.

*GlaxoSmithKline was affirmed as a buy by HSBC analysts with a new target price of GBX 2110.

*Teva fell back after charges of conspiracy to fix prices for generic drugs were brought against it and other companies operating in the USA. I always sell too soon, which is how I make money on the stock market.

*Israel's Compugen is up a whopping 4.65% in error because its namesake, Compugen Inc of Canada which makes software, did a JV deal with FoxWise which trains indigenous Canadians (native Americans). It will fall back Friday but enjoy the jump,

*Bristol-Myers, a drug firm my mother bought because her favorite sister was put on a drug from this firm when she got breast cancer, rose 1.8% after Mario Gabelli decided he agreed with my late mother and gave the stock a buy rating. It is a US bonus share.

*Benitec Biopharma, whose common shares I sold to load up on warrants because it has to get a higher price to retain its listing on Q, duly fell 15% on the deadline. It is an Australian developer of RNA-induced DNA corrections, gene therapy now in the mainstream, but from a different drug firm. BNTCW.

Ding Dong

*Vodafone rose 1.6% today after Elliott Management lost its German appeal against the price for which Kabel Deutschland's network was acquired. The court ruled that the just price was euros 84.53/sh, exactly what VOD paid.

*We exited Fukui Computer right before it reported as Chris Loew recommended. Its share rose all of 0.13% on the results which were excellent but well anticipated. 9790:Tokyo.

Cement

*CRH of Ireland was given a new target price of GBX 3300 from 2950 by UBS. Its primary listing is in London.