E More Greek Variants To Follow

Whatever Wall Street thinks is going on, the new highs for our exchanges is followed in the rest of the world by lower rates for our greenback. 

Hot from the press, NIO, the US-listed China electric car maker, beat forecasts for its Q2 results on both sales and profits and moreover predicted both would rise further in the current quarter. Moreover, it plans to add to its vehicle range with a new mass-market sub-brand with lower prices for cars and add a further couple of lines in 2022. The stock which had been weak in US trading Weds. is up Thurs. Tesla TSLA is not the only game in town.

Photo by Adeolu Eletu on Unsplash

*Tencent TCEHY is down 3.5% in Hong Kong perhaps because of a new Beijing challenge. I have no details. The share is at 470 HK$. Both the tracker shares are also down, Naspers NPSNY and Prosus PROSY.

*There will be two more portfolio stocks reporting today, Algonquin AQN, the ute, and CSIQ, Canadian Solar, expected to lose 30 cents/sh on revenues of $1/.43 bn. AbCellera ABCL reports also and is expected to earn 11 cent/sh on $87.92 mn in sales.

*Covid: Germany now says more people have been inoculated against the virus than the government data show, which sounds improbable. Our FDA will allow a 3rd jab booster for people with compromised immune systems. Delta is now expected to be followed by more Greek variants.

*Nokia will supply the Western Power District with private long-term evolution fast 5G grid for trials. At least it sounds better than supplying delta as reported earlier. NOK.

*A new stock pick from Harry Geisel, written up at his suggestion by me: SSE plc, a pink sheet utility stock traded in the US as SSEZY, listed in London as SSE. It is in the dumps today for two reasons. First, the UK government will only allow 4.55% equity costs to be applied by utes over the next 5 years, below the 4.76% that Citigroup analysts expected. Worse still, Danish Vestas Wind Systems today issued a profits warning because of the spiraling costs of offshore wind systems, but not those of land-based windmills. This news will hurt SSE which presents a buy opportunity. Here's why:

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