E Two Days' Worth Of News

My second Moderna jab hurt more than the first one did as we were warned. But despite my sore arm, I slept like a log and so did my husband.

Inflation risk: Today markets were barely up except for Nasdaq after Wednesday's high, and new concern about US growth after the new jobless numbers from last week showed 795,00 new applicants, vs a 760,000 forecast. This has cut the fear of inflation which ultimately affects commodities and interest rates. However, the latest CBO forecast for the 2021 deficit is $2.3 trillion—not counting any new $1.9 trillion stimulus spending by the Biden lot. This is an improvement from the 2020 deficit of $3.13 bn. Unless it is repaid, the level, even at meager interest rates, will hit $35.3 trillion by 2031. Despite the possible drop, price inflation risk is high now: new highs for crude oil after stockpiles fell more than forecast; for uranium; for platinum; for copper. I hope Biden will cut the stimulus plans.

Amsterdam vs London: Sterling fell against the dollar after rising most of Feb., which boosted the indexes. Now Amsterdam trades more non-British stocks than London does. One of my stock faves. CBOE, the data provider to institutional investors, saw its European real-time quotes increasingly going live on Xignite as part of post-Brexit arrangements in London from which Euroland traders are now banned. The Anglo-Dutch combo covers 6000 stocks from 18 different foreign markets. This is not for retail investors, however.

*Royal Dutch Shell B fell 2.1% in London today. The Amsterdam A shares fell 2.29% because they are subject to Dutch taxes, an argument for London, along with English, which most Dutch speak. RDS-B.

Dumping China: I feel vindicated for selling off some of our very visible China shares, notably Tencent and now Beigene (TCEHY and BGNE) after an executive of the former firm was arrested over WeChat material he sent to the Communist Party's disgraced anti-graft VP Sun Lijun, according to the Wall Street Journal. China is cracking down on big companies not controlled by the Communist Party. BGNE is more or less controlled by a local mayor in the city it is run from. I sold at $370 and it hit a new high at $378.14 today so my exit was premature. But I avoided a $4 ADR fee. It is up 36% in bucks YTD. The country cannot produce chips at a rate to back its tech prowess because of US blockage against its semiconductor companies. We are in this via Israeli-American chipmaker Tower Semiconductor (TSEM) which gained 2.2% Weds to $32.47, near its 12-mo high of $32.61.

*I kept AAIGFAIA Group Hong Kong because it can leave Hong Kong more easily than a Honkers and Shankers HSBC sub can.

Business newspaper article

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*Today Sampo Oij reported what it called very strong results, a misnomer. As I learned years ago when I first covered Nokia, Finnish stock boosting is rampant among Finn firms allegedly reporting their outlook. SAXPY, the Finnish financial holding company cut its earnings by euros 1.541 bn with impairment charges on its total portfolio of euros 899 mn and another euros 262 mn for the Nordea Bank spinoff. Adding this back still left pre-tax profits at euros 1.541 bn vs 1.69 bn in 2019. Moreover, EPS was a mere 7 eurocents vs euros 1.69 bn in the prior year. Excluding Nordea from 2019 EPS showed an even bigger drop, from euros 2.16/sh. It also took off for one-off expenses for the acquisition of Hastings Group.

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William K. 1 month ago Member's comment

Thanks for all of the news, VL, and I am glad you got the vaccine, I hope that it keeps you well. But keep on masking because no vaccine is 100%, and I do enjoy reading your posts.