E London Cancel

*AAIGF, Asia AIG of Hong Kong, is up 1.7% over acquisitions in Oz and Singapore via BEA Life.

*Both our Sumitomo Mitsui and Matsushita (Financial Groups) in Japan are down today.

Oil and alternatives

*Eduardo Garcia reports in sentidocomun.com.mx that the Mexico is cutting the price of regular gasoline, raising the price for diesel (used by trucks that deliver around the country), and leaving the price for premium unchanged. For a populist like Pres. Lopez Obrador this sounds regressive.

*Delek Drilling, sold, headed by a Mizrahi (Arabic-speaking) Israeli, Yitzchak Tshuva, born in Libya, is selling 22% of its UK offshore gas fields to the Abu Dhabi state oil company Mudalaka for $1.1 bn. I would love to be part of this historic deal but we sold when Delek group became over-extended. DKDRF.

*Schlumberger Ltd, which reported last week, got upgraded by Evercore to buy with a target price of $33, raised from $30. SLB stock is up nearly 3%. It hired new execs to cover sustainable energy and new emissions businesses. It added the former chief of Orsted Wind to its board.

*BP plc is up 1.31% on the expectation that it will report good Q1 results tomorrow thanks to higher oil prices, at $61/bbl vs $44 in the prior quarter. Analysts expect its replacement cost profit to be $1.64 bn vs $1.15 bn in Q4 2020 and net profit to hit $2.06 bn vs $1.36 bn in the prior quarter.

*Royal Dutch Shell B shares rose 7% in the wake of the Chevron deal to develop US hydrogen fuel supplies, storage, and fuel cell cars with Toyota. RDS-B is already working on hydrogen in Europe.

*Autoliv, sold, because we did not know there would be boosted demand for cleaner auto exhausts for old cars, rose 0.64% yesterday, 14% YTD, and 81% in the past year. The Swedish share was sold too soon. ALV.

*William K., a reader, thinks computer-driven cars are a bubble because of barriers (patents; costs) to control software. “The bubble will burst and there will be no buyers.” Being into electric vehicles like NIO makes, I am not sure that the barriers are as high as William thinks. NIO opened up 5.1% today, linked to its getting a bullish call last week, the 7th day in which it rose in stock markets, a run not seen in the last year. We sold 2/3 early this year and I am letting this one ride. It is $42.99 now, up 4.7%.

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There is a new US risk, hack attacks on financial newsletters coming from SEC@inf0.cm, which is NOT the real SEC. Please look out for this as I have just cured an infection signaled by my online ...

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