Another news-filled day. The Hong Kong Hang Seng index crashed today by 7% on a covid-19 outbreak in nearby Shenzhen, a key site for production for foreign manufacturers. The Shanghai index fell just under 5%. 

The price of oil fell to below $100/oz on the prospect of lower demand from the PRC. At $99.25 the stuff is still not cheap. 

Eduardo Garcia in sentido-comun.com reported that foreign bond buyers are active in Mexico after losing confidence in Hong Kong and Asia plays

Stock photos by Vecteezy

Drug dealers

*Harvard's blog today reported on how Fanconi anemia families cannot benefit currently from PARP repairs to BRCA 1 and 2 in childhood. They are working on ways to restore the blood factors which don't work and lead to childhood deaths.

*GlaxoSmithKline GSK will report on its Zejuly and Jemperlianti PD-1 cell deaths from women's cancers at the Phoenix conference Mar. 18-21. They are working with a Chinese ovarian cancer partner Tai Labs. The stock gained 1.9%.

*Japanese Eisai, which gained earlier this week now gave us the reason. It is selling its Alzheimer's drug find commercialization to Biogen Idec, BIIB, and will collect royalties but not make the drug. ESALY has high costs because it is Japanese.

*Reckitt-Benckiser rose 2.51%, sold too soon. RBGLY.

*Eli Lilly is up 1.76%. LLY. 

Oil and Materials

*Schlumberger Ltd SLB got a major well construction contract from Saudi Arabia based on its fit for basin technology, data analysis, and automation.

*Coterra, the new U.S. operator, was rated buy but its TP cut to $.764 from .767. CTRA.

*Executives of Shell were sued over their "net zero" missteps by green investors. 

*ESTE (Earthstone) a US small cap, was rated buy at last and its TP was raised to $.491 from .451.

*Azure Power (AZRE) rose 1.9%.

*The odds are that the Nickel market will revive after it get help tomorrow. It was hit by excessive China selling by mining companies there.

Retail

*South Africa where covid is rampant saw Mr. Price fall 2.51%. People don't shop a lot even online when their economy is reeling.

*I sold over half my stake in Mercado Libre, the Latin web sales site, at $941.75 today. MELI.

*American Express is up nearly 2%. AXP.

*GE was upgraded to buy from hold today with a TP of $.295 down from .325 earlier. 

Finance

*HSBC which last month closed its U.S. branch network, now is doing the same in Britain. I think it is a mistake.

*Lazard, manager of a financial group, gained 1.1% today. LAZ.

*State Street Bank STT was upgraded to buy with a lower TP of $1.45 from $1.49.

Tech

*Amazon AMZN is claiming that Amboni over-rated the value of its Future Retail ltd partner after the 

*Microsoft is up 1.5%. MSFT.

Bread & Roses

*Eduardo Garcia reports in Mexican Sentido Común that Grupo Bimbo GRBMF has halted sales of its bread and cakes in Russia.