E Retail Sales Rising

*State Street beat thanks to cost cuts and fee income but STT stock has been hovering between a gain and a loss all day. Its eps came in at $1.45/sh down 4% from last year but beating the broker estimate of $1.41. Its revenues at 2.784 bn beat forecast 2.770 bn but were 4.1% lower than last Q3. It refused to give any guidance after rising 11% in the last quarter.


*A big drop took down Hong Konglisted Tencent by nearly 8% today to HK$528, in part because of a Chinese plan to introduce data protection for tech stocks to be voted by the People's Congress Sat. Naspers is down 1.4% but Prosus is up 1.44%, both backdoor ways to own 10¢. NPSNY; PROSY.

*Mercado Libre gained 1.7% at the opening today but now is up only 1.02%. MELI is the Amazon of Latin America.

*Swedish auto electronics make Veoneer VNE won a buy rating from Mizuho based on its Japanese business, with a new target price of $95, about 25% up from where it trades now.

*Antofagasta won a UK recommendation yesterday and is up a fraction. ANFGF mines some lithium.

Green stocks

*NIO rose another 1.4% today, making it something like the best performing stock on earth.

*Ormat ORA, geothermal energy production and storage systems maker, is up nother 3.52%. It is Israeli-owned although incorporated in Nevada so Friday is when you pounce.

*Canadian Solar, CSIQ, is down today, however, at $38.17, hit by China concerns. It makes its solar panels there even if it sells via Canada.

*Algonquin Power & Ute of Canada is up 0.8%. AQN.

*AZREAzure Power Global of Mauritius however is down.


*Ricardo Salinas Pliego caught coronavirus. Salvador Cienfuegos who headed the war on drug cartels for Prexy Peña Neto, was arrested for working for the cartels on the sly. So Mexican shares got a boost: Grupo Bimbo; Mexichem, Cemex, Fibra Uno all gained, in order of how much with FBASF the winner. Even Mexican Equity & Income Fund gained 2¢.

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Vivian Lewis 5 days ago Author's comment

as a Manhattanite I do not run a car but my impression is that gasoline sales prices are 1) competitive 2) regulated and 3) taxed. What I like is the European oil companies getting set for lower demand for gasolene as electric vehicles come to market, and their investment in alternative fuels, not typical of their US rivals. They are buying into low-carbon which means for the longer term. Note that in European counties which are trying to meet the Paris standards to cut carbon the oil companies are taking the lead in funding solar, wind, LNG, and other alternatives. This kind of long-term investing smarts cannot be found among US oil giants.

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Vivian Lewis 4 days ago Author's comment

Gasolene is taxed not just in Britain but in most European counties. It doesn't stop freedom of movement because people pay the tax, but it did lead to serious protests by the yellow shirts in France who said they could not afford it.

I think the US oil majors are more reluctant than European ones to invest in the new alternative fuels that will power cars in the future, like batteries for electric vehicles.

My favorite idea for that is China's NIO which will sell its electric vehicles with leased batteries, so when they run down the car driver can switch batteries at a service station rather than having to hang around for the recharging.

NIO is NYSE listed and has gained the most year to date and is well ahead of even Tesla. It is funded in part by the local government of the town where it is headquartered. Volkswagen also benefits from the same subsidies so it is not only for Chinese.