Reader FS of Massachusetts sends all of you a note about music to listen to: "The Day Democracy Died"  Sung by The Founding Fathers.

Today we got good news about coronavirus patients responding to the use of anti-inflammatory drugs which are cheap and available, and which cut deaths from serious cases Covid-19 by about a third. This was published today by the Journal of the American Medical Association, as good a source as exists.

The good news was accompanied by new data on August employment levels from ADP, an NJ firm which does payrolls for private companies. The number of employees paid in August was 428,000 well down from the forecast level of 1.17 mn but up from 167,000 in July. Wall St was mixed, with the Dow Jones taking the lead and Nasdaq lagging. Australia is in recession for the first time in 28 years,

As usual, there is news from our companies, good and bad, and as usual with drug-makers in the lead.

*Swiss Roche gained 1.25%+ because it has launched a quickie Covid-19 antigen test in Europe to go live this month. While not as accurate as alternatives, the 15-minute test looks for the coronas which mark the virus and show up on the test without special instruments. Initially, it will offer 40 mn tests per month rising to 80 by year-end.

If there is a doubt, a small number of people have to get more tests. RHHBY will file for US FDA OK.

*This boosted Spanish Grifols S.A. (GRFS), an antigens specialist we just added to the model portfolio.

*GlaxoSmithKline (GSK) is up over 2.1% on news that it is deal with Kymera on licensing E3 Ligase for protein degradation.

*Indian generics firm Dr. Reddy's is up fractionally after falling earlier this week (RDY).

*Japanese Eisai is up another 1% today. ESALY partners with Biogen-Idec on Alzheimer's disease which was featured in the current issue of The Economist. Japan is in clover thanks to Buffett.

*Teva fell another 1.85% on the perception that its leader mis-played US charges over drug pricing now under investigation by the House of Representatives. Compugen stock halted its slide rising 2%+ and BiolineRX rose 0.85%. TEVA, CGEN, and BLRX all are Israeli.

*Beigene is down another 2.6% today because of China's currency topping $6.83. BGNE uses the $.

*Zymeworks fell 1.64% but ZYME is the only Canada stock down.

*Grupo Bimbo gained in Mexico thanks to a workaround to meet new regulations warning about high calorie food, like cookies. GRBMF now uses a sticker with the calorie warning on the old package.

*Our best performer is ANCUF, Alimentation Couche-Tard of Canada, up 7.07% on currency factors. It operates highway take-away food stores mostly in the US but also worldwide, and the loony is up.

The Loony

*Most of our other winners are from up north, Algonquin (AQN), up 1.62%; Scotiabank (BNS) up 1.4% (also because it was tipped by one Stefan Redlich as a “once in blue moon” buy in Seeking Alpha; Kirkland Lake Gold (KL), up 0.5% despite gold falling; Nutrien (NTR), up 1.5%; Canadian General Fund (CGRIF), up 0.95%.

Tech & tel

*BCE, being from Canada, gained 2.82%.

*GE, IBM and Microsoft (MSFT) are up because they are not being plugged by Robinhood investors.

*MercadoLibre (MELI) fell some more but we are well ahead.

*India has banned on security grounds Tencent's PUBG mobile-phone video games. This has hurt supposed TCEHY proxies like Naspers, down 2.03% and Prosus, down 1.83%: NPSNY, PROSY. Teh Financial Times of London today pointed out that supposed passive funds have to buy PROSY after it was added to the Swiss 50 Stoxx index.

*Nintendo, which might gain from video gaming gaps, is down all the same, by 1.2% as it doesn't do much for cellphones. But NTT, Docomo (DCMYY), is up 0.35%

*Renishaw which we could not cover with Merrill is at $65.75 today, a new high (RNSHF).

*Both Swedish Ericsson and Finnish Nokia (NOK) are up on new anti-Chinese noises from Washington.

Oil and Users

*Schlumberger Ltd (SLB) is among the rare upwardly mobile oil stocks hanks to its exit from fracking.

*Japanese robot maker Fanuc (FANUY), is up 2.22% despite a 61% drop in net last week to ¥9.09 bn.

*The spate of new electric vehicle makers from China and fear of price cutting by Tesla have taken down our NIO which is also doing a secondary issue of $1.7 mn in ADRs. This share is up 550% in the past 12 months (we've owned it for 9), Britons have stopped buying electric cars (because of prices.)

*British BAE Systems Monday began delivering its Armored Multipurpose Tanks to the US Army, which do everything from firing mortars to evacuating casualties. BAESY is up 2.3% on the news.

*But fellow Brits BP plc (BP) and Royal Dutch Shell B (RDS-B) are down ~0.7%.

*Hoegh preferred (HMLP-A) are up pennies today. Prefs are a way to get income if bonds don't. Its tankers holding liquified natural gas (which they also burn for fuel) help cover LNG demand which cannot be met with fracking by-products (because fracking is down.)

Finance

*Scottish Standard Life Aberdeen, which sells insurance and fund management, is up 4%+ (SLFPY).

*Japanese Mitsubishi Corp (MSBHF) gained 0.53% but Sumitomo Mitsui only rose by pennies.

*As always, Banco Santander (SAN) fell. It is the largest bank operating in Europe but is losing money and pays no dividend..

*Panama's multilateral Banco Latinoamericano de Comercio Exterior (BLX) was a rare bank winner.