Photo by Gayatri Malhotra on Unsplash

Today the world has turned sunny, for two reasons. First, the election of a normal human being to the US Presidency was confirmed over the weekend. Just to show how out of it he is, Trump fired Secy of Defense Mark Esper today because he opposed the use of active-duty US troops to respond to civil unrest in this country on constitutional grounds. HUD Secretary Ben Carson came down with the virus.

Secondly, the CEO of Pfizer, Dr. Albert Bourla, told the world that BNT162b it was developing with BioNtech BNTX proved to be 90% effective against the virus in its phase 2-3 trials. The news went to PFE only yesterday and was reported before the opening here. Interestingly enough, the big impact was not felt by PFE stock which only rose $3 and change, but produced huge gains for Covid-19 victim companies in the energy business; travel, tourism, and hotels; dining and restaurant stocks; and financials. Meanwhile, the European Union imposing duty on US molasses and orange juice over the Boeing Airbus battle.

Usually, on Monday lots of stock analysts tell the world about the changes in their forecasts, but today this barely matters. Late reporting from last week also has been overtaken by events. To the news:

*The Tokyo market as anticipated dumped shares of Eisai which reported its Q2 results Friday after Tokyo closed and then in the after-hours saw its Alzheimer's drug Aducanumab developed by its Biogen rejected for being ineffective. ESALY crashed 13% in Tokyo trading. That was the only thing that happened today which I had forecast, and I excluded the share from the model portfolio I calculated Sunday because the news was not yet in the stock. It later gained so was only down 9.98%. BIIB which is more of a one-track pony, fell 30% here.

*Ready-meals maker Greencore GNCGY of Ireland is the only stock we cover in the sector and it opened up 29.25%, helped by Biden's win perhaps. The luck of the Irish only goes so far and later in the day it was only up 23.66%, still, a nice 4-leaf clover win.

Europeans

*Energy stocks are our big winners today because flying is going to be back in style with a COVID-19 jab which works. At this moment the leading winner is BP Plc BP which rose 17.74% in US markets today. It sold its Thames-side HQ building last week to raise money to invest in alternative fuels.

*No. 2 was Royal Dutch Shell, RDS-B, which was tipped by HSBC to buy from hold after it agreed to sell its US Gulf Coast refinery. It opened up 13.4% and then hit 14.%+/.

*Third is Schlumberger Ltd, SLB, up 13%, Dutch Antillean but heavily traded in France and the US. At midday, it was up 21.64 edging out the oil companies.

*The covid-19 news took down Swiss Roche fractionally because it has a test for the disease. RHHBY.

*Spanish Grifols rose 6.9% to $19.69, GRFS.

*Atlantic Sustainable Infrastructure was rated outperform by Raymond James. AY was tipped by Harry Geisel and written up last week here. Harry asked me to tell you that the ridiculously high price/earnings level is not the key metric here, but rather cash from operations. He notes that the “return of capital” at AY is not getting back your own money as with a closed-end fund. It's up 1.5%.

*Banco Santander SAN rose 16.82% in European trading. It is up 18% now here, overcoming the relics of the Inquisition, as 18 is a Jewish lucky number which uses letters that spell out “life'.

*Finnish Nokia rose 2.7% in UK trading. Here is rose 4.5%. Ericsson, the other alternative to China, rose only 1.27%. NOK, ERIC.

*British Glaxo which dominates adjuvants used to stretch vaccines, rose 2.75%. GSK.

*Norwegian Hoegh LNG Partners LP HMLP gained 1.75% on news that China wants to import more US LNG. It is incorporated in the Caymans but European in ownership.

*German insurer Allianz rose 9.64% under its new ticker ALIZY, which I almost missed.

*Veolia Environnement which has now put a second drilling vessel into the East River outside our windows is up 7.44% to $21.4 today. VEOEY.

*It may be an error but Vodafone is up exactly the same amount. VOD.

*Standard Life Aberdeen SLFPY which manages money and sells people insurance is up 7.9% because it will not lose as much paying off policies if people don't die from the pandemic.

Canadians

*Algonquin Power & Utilities AQN completed its acquisition of Bermuda's Belco (Bermuda Energy Ltd.) from Ascendant Co for $365 mn or $36/sh. That's the US. It is up 2.5%.

*CAE which trains pilots virtually is up an unCanadian total of 20.17% in Toronto today at C$28.26. It was recommended by Patti the Biotech Maven. Just before corona hit, in March, it was at C$29.99 so it may get even higher, but according to Dow Jones, it has already had the highest price increase on record. CAE reports tomorrow afternoon on its Q2. The conference call is at 1 pm at 1-877-586-3392.

*Alimentation Couche-Trade ANCUF was maintained as an outperform by Royal Bank of Canada because its worldwide convenience shops and gas stations will gain from more driving as travel resumes.

*The hopelessness of Trump's challenge to the poll results led gold down. Kirkland Lake KL fell. 7.5% despite its being rated buy with a C$100 target price, up from C$97 by Bank of Montreal. Its guidance over the Canadian Macassa mine was weak and this led Taylor Dart to call it a buy on Seekingalpha.

*Telco BCE gained 3.7% on good virus news.

*Bank of Nova Scotia BNS rose 6.62%.

*Canadian Solar gained 2.72%. CSIQ makes solar panels in China.

*Martin Ferera's pick Zymeworks ZYME is up 4%.

Rest of the World

*Beigene fell on a downrating to hold by Ladenberg analysts despite it winning another approval in China for its Qarbiza to treat neuroblastoma in patients aged over 12. The drug, Qarbisa, is made by EUSA Pharma which licensed BGNE for its development and sale in China.

*American Express AXP gained nearly 22% today on hopes that people will resume spending for travel. State Street Bank which does back-office work for cross-border stocks and funds gained 14%.

*Mitsubishi Corp (MSBHF) gained 3.2% while Sumitomo Mitsui Financial (SMFG) gained 5.14%.

*However DCMYY which is being taken over by its parent fell 1.35%.

*Panama's Banco Latino-Americano de Comercio Exterieur, BLX, gained 10.8% on hopes for trade.

*Earthstone Energy ESTE, a US stock, gained 15% at the opening but then fell so it only gained 12.6%. Another US holding, GE, rose ovedr 8%. It makes aviation parts.

*SPDR Gold (GLD) fell 3.9% on the lack of any basis for a Trump challenge.

*TEVA continued its gain begun Friday with its conference call and opened up 4.66% at $9.55.

*Compugen CGEN gained 3.21%.

*However BiolineRX crashed 12%, reversing its rise last week. BLRX is Israeli.

*Qualcomm, which we own for its Israeli venture capital investments, gained fractionally today because of hopes that China will do a deal with Biden. QCOM.

*Fibra Uno FBASF, the Mexican REIT, gained 3.51% hoje.

*Cemex CX rose 5.5% to $4.2+.