E The Pot Calls The Kettle Black

*Because Canada is under a cloud, my upbeat write-up of the Q3 Bank of Nova Scotia results was wrong. The market chopped BNS shares by 1.7% despite its beating the consensus forecast of eps by a loony penny with C$1.76 in eps, focusing on declining revenues which really resulted from M&A activity in Q3.

*Britain's Standard Chartered Bank faces another fine for breaching Iran sanctions. It already was penalized once. There is no link between it and Standard Life Aberdeen, SLFPY, the asset management firm whose shares we own. More fund news below.

Healthy Shares

*The Financial Times ran a feature on the Salford Lung Study which tracked patient health in real time to improve outcomes of chronic obstructive lung disease in the area around Manchester, where it is very high because of pollution and genetics. The study funded by GlaxoSmithKline in a £80 mn “gamble” proved that outcomes for people with multiple health problems were better and sales also improved for the drug-maker, by taking a holistic view of COPD health. The initial reaction of the Manchester National Health Service was suspicion of the drug industry, but the trial proved that electronic tracking works. In fact, the NHS was doing the tracking, not the drug company which only got access to consolidated data.

*Yesterday, Novartis has begun delivery of Tafinlar-Mekinist combination drugs for treating unresectable or metastatic melanoma with the BRAF, V600E, or V600K mutations. The European Union approved this drug.

*Mazor Robotics makes assist systems for neurological and brain surgery. Analysts don't agree on its outlook. ValuEngine downed MZOR to a hold from a buy this week. Zachs raised it to hold from sell. And Thomson Reuters cut it to sell from hold.

Industry

*CRH plc has initiated the second phase of its euros 1 bn share buyback program approved by shareholders in the Irish cement firm in April. This time the operation will be handled by the London branch of UBS for euros 350 mn, after the direct buyback ended. CRH is HQ'd in Ireland but until Brexit hits its main trading is done on the London Stock Exchange. The shares will be bought in either London or Dublin, but apparently, there will be no UBS buying of ADRs. They will nonetheless rise in price from the beaten-down level CRH wants to end because of arbitrage. It makes cement and aggregates mostly in the USA.

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Vivian Lewis 5 months ago Author's comment

I like because I wrote it.

Alexis Renault 5 months ago Member's comment

What was behind this influx to France?

Vivian Lewis 5 months ago Author's comment

tourism