E Global Buoyancy

 

Business newspaper article

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Today the stock market was supposed to recuperate after falling yesterday. But only the DJIA, Switzerland, Ireland, Canada, South Korea, and Taiwan were really buoyant. We are present in all but Korea which we exited recently. The focus was on smaller cap companies.

The big news is that the Astra-Zeneca-Oxford COVID-19 jab was approved by Britain, and there AZN gained 2%, but the US is more bearish and here it's up only 1.5%. Glaxo GSK supplies the booster. Pfizer and BioNtech got a big order from the EU. China Sinopharm claims its vaccine is 79% effective.
Today's top performers at opening were pharma firms: Israeli Compugen, CGEN, up 5.4%, BiolineRX, BLRX up 1.9%, Enlivex, ENLV, and Teva, up 1.4% to $7.69 but ENLV later fell 0.54%. China's Beigene, BGNE, is up 2.7%; Canadian Zymeworks, ZYME, 2%; Swiss Novartis, NVS, and Roche, RHHBY, both up 1.25%. Danish diabetes drug maker Novo Nordisk NVO is down 0.75% but hanging in over $70. Abcellera, ABCL, our worst recent pick fell ~30% to a new 2020 low. Our other dud, Aurinia, AUPH, recuperated after investors reconsidered its deal with Japanese Otsuka.

Also looking good are alternative energy and users stocks: Canadian Solar, CSIQ, up 5%; Azure Power of Mauritius which operates in India, AZRE, up 4%; Chinese electric car firm Nio up 2.8%, copying Tesla. Top stock today was Canadian Earthstone Energy, ESTE, up 10.5% to $5.58 (US) while compatriot Energy Fuels, UUUU, hit a new high for the year at $4.45 (US), up 7.2%. However Canadian Algonquin (AQN), Alimentation Couche Tarde, ANCUF; and Britons BP and Royal Dutch Shell B RDS-B are down despite the oil price rise. Dutch Antillean Schlumberger, SLB, gained 2.5%.

A top tech winner today is Tower Semiconductor TSEM, Israeli-American, catching up with Tel Aviv, up 2.7%. Naspers NPSNY gained 3.21% following Tencent. Another is Ormat Tech, a US-Israeli thermal energy firm tipped by BofA-Merrill. ORA hit a new $91.99 high before falling back.

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