E Markets Are Spooked

*Japanese Takeda, TAK, was among drug firms to lose value today. Another was Novocure, NVCR, which late my cousin did not sign up for when urged to. Novartis, NVS, lost 0.28%; Roche, RHHBY lost3.23%m.

*However led by Teva up 0.7% other drug-makers gained at the opening: Enlivex, ENLV by 0.3%; Zymeworks, ZYME, up 0.25; Compugen, CGEN, up 2.38%; BiolineRX, BLRX up 1%; Bristol-Myers up 1.25%; Eisai, ESALY, up 0.13%; Grifols, GRFS, up .36%; GSK, up 0.81%; Merck up 0.85%. The logic seems to be that when yields go up, this hurts tech companies but not drug firms. La Later in the day TEVA fell alongside because of high levels of insider sales, however.

Finance

*Cosan, CSAN, rose 1.12% today to $17.23 and we have been given new shares to cover the offshore and logistics arm now integrated into the parent. I will need an accountant to work out the gain.

*Lazard, LAZ, is up over 0.8% to $45 and a financials performer. That is another sector that wins when interest rates go up.

*Scotiabank gained 0.14% today. BNS.

*Standard Life Aberdeen allegedly gained 9.14% today. It didn't. It is just that SLFPY data is not being updated by TD Ameritrade. I am reluctant to put in a sell order without a price to guide me. I put in a partial order and found that the share gained 2.5% to $15.76. This is not the way to my heart.

*Swedish Investor A/B, IVSBF, gained 1.21% today. Sampo Oyj of Finland, SAXPY, fell 0.86%. The latter uses the euro whereas Sweden does not.

*Kirkland Lake Gold's low valuation was called insane by a seekingalpha.com writer named Gold Mining Bull. I do not cover any investment advisor who is anonymous. But I own KL. Another gold tip came from Steve Calhoun who manages Fidelity's Select Gold Portfolio, not too surprising as it goes with the job. He says that a deliberate rise in interest rates by the fed or favoring austerity by pols would be needed for him to go bearish on gold. The barbarous relic rose 0.35% today.

*Japanese Mitsubishi Finance, MSBHF, gained 1.1%. Sumitomo Mitsui, SMFG, gained 4.47%.

Tech

*Cemex is developing carbon-neutral in a plant in Germany backed by EU and German funding, with the aim of cutting carbon emissions by 55% by 2030 from levels of 1990, and to zero from concret by 2050, writes Eduardo Garcia in sentidocomun.co.mex. This is not as ambitious as it should be. CX.

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William K. 1 month ago Member's comment

Always interesting, VL.