The US banned the merger of AON with Tower Watson in Ireland because it would create a monopoly in US insurance.

Today stock markets are in disarray after the full horror of Beijing's attack on Chinese capitalism has been understood. In addition to the Mainland and Hong Kong, China is now attacking the gambling site of Macau which it took back from Portugal. The only place where Chinese business can be done now is in Taiwan, so more than ever the island's independence will be defended by Japan, the USA, Singapore, and Britain.

Photo by Adeolu Eletu on Unsplash

Further bad news for China is that its Sinovac jab antibodies lose their force after about 6 months. Truist analysts have recommended Merck MRK, Eli Lilly LLY, and Bristol-Myers BMY as buys after the Chinese disappointment. I own two out the three recommended US drug majors and also the bank's stock.

The Hang Seng market index for Hong Kong fell by 5% today while the market there fell by 4.2%. Our DJIA fell 200 points. Even crypto flopped because it turns out that Amazon will not accept crypto payments after all.

My boring old GE beat with earning/share of 5¢/sh versus a consensus forecast of 3¢ and higher sales than expected. The share rose nearly 4% amidst desolation on the overall markets. We got the numbers for Microsoft. and Alphabet. 

More follows:

-----------------

Hits

*A winner was British weaponry maker BAE Systems which got an order for $32 mn to update Finland's tanks. BAESY sells tanks to many northern European countries, some officially neutral.

*Nokia produced mixed news. On the one hand it cut its eps target by 8 Norwegian kroner to NK 2.14. The former meme stock also came up with a military-level tough new phone, the XR20. It has a tough 6.67-inch “gorilla glass” display and can be kept in water for up to an hour with now harm. It also can handle extreme termperature. It will cost $550 when it goes for sale on Aug. 24. The price will give you 4 years of security updates and 3 years of android updates. The 5G phone has two cameras for different focus. NOK also will update its 6310 model now 20 years old. Its stock rose.

*Vodafone also gained but more modestly. VOD is a British cellphone company operating abroad.

*Intel will use Qualcomm chips in its foundries to cut the amount of electricity needed to use its Amazon brand phones. We own QCOM.

*Canadian Solar, CSIQ, a Chinese firm, is further expanding in Latin America after a deal with Colombia earlier this month. Now it will make solar panels in Brazil funded by local banks at $100 mn per year. It is being paid for broadening its sources for green goods.

*Antofagasta, a Chilean mining firm listed in London, gained 2.3% today. ANFGF.

*Pembina will not contest the decision by Inter pipeline to accept a bid from Brookfield but it will get C$350 mn in consolation. PBA.

*Weyerhaeuser was upgraded to buy from neutral and its share rose 0.17% in Canada. WY.

*Glaxo which reports later today rose 1.23% in anticipation. GSK.

*Also up was Zymeworks of British Columbia, ZYME, a drugmaker reportedly on the block.

*Aurinia gained after it won a VA contract. It was delisted in Canada and now only trades on Nasdaq. AUPH.

*Coupang of South Korea rose over 2% after it was tipped by Daiwa as an outperform. CPNG.

*CAE now part of the Toronto top 50, gained 0.52% today. It trains pilots.

Misses

*NIO which makes battery propelled vehicles in China, fell 7.5% today despite in theory being backed not by Beijing but by its local factory city which owns half the factory.

*MakeMy Trip fell 0.8% in the premarket after it reported GAAP EPS of minus 32¢/sh. Its sales missed by $2.21mn from consensus forecasts to $32.8 mn. MMYT.

*Dr. Reddy's fell $10.44 or 12.78% in British trading today to $64.8 bid, 65.06 ask. RDY.

*Schlumberger Ltd which rose on hopes for higher oil drilling reversed and fell 3.05% today. SLB.

*Energy Fuels, UUUU, fell 5.2% today. It is our most volatile stock.

*My stock for the year, Cosan, CSAN, fell 2.61% to $20.11.

*Israeli TEVA fell 0.72% to $8.87.

*Genfit fell 4.21% after rising on a weird capital increase by its underwriter bank in France. GNFT.

*Spanish Grifols fell 1.5% today for no reason I can find. GRFS.

Finance

*Banco Santander lost 2.31% in euros today, falling to 3.11. SAN.

*Investor A/B, the Wallenberg fund listed in Sweden, fell 2.3% there today. IVSBF.

*However Finnish Sampo oyj rose 0.12% to $24.15. SAXPY.

*Panama's Banco Latino-Americano de Comercio Exterieur rose 2.24% a week after BLX raised its dividend.

*AIA Asia of Hong Kong, AAIGF, fell 4% today. It insures people all over the Pacific Rim.

*Atlantica Yield, AY, the UK $ fund investing in green energy, rose 1.26% to $39.08 today.

*Sumitomo Mitsui Finance, SMFG, rose .44% today.

*SPDR Gold, GLD, fell 0.24% today.

*Scotiabank rose 0.22% today. BNS.

Utes

*German Eon.SE, EONGY, rose 0.5%. It is cutting carbon.

*French Veolia jumped 1.73%. VEOEY mainly does water and sewage.