Tuesday blog

It took only a half hour for the brief rise in stock markets over inflation being 0.1% below what was forecast to reverse. Our stocks being mostly non-US were more buoyant. Our best performer was Fibra Uno, the Mexican REIT, FBASF, up 5.31%. It trades only occasionally. 

Grupo Bimbo, another Mexican, gained 4.04%, GRBMF, which now is a drip feed outfit using its old name. 

Swiss Roche, having an investor day, gained 1.5%, not much given the hoopla. Albemarle gained 0.77% after its earnings forecast was raised by 0.012% to 0.755.Japanese Eisai rose 0.7% despite its US partner falling, ESALY. Nokia, which I wrote up yesterday, also fell on lower forecasts, NK 2.05 versus 2.13.

Microsoft rose because Morgan Stanley upped its forecast for earnings to 331/sh from 305, a considerable jump from  a major player. 

NIO, my leading China play, the electric vehicle maker, gained at the open and rose further to 2.07%, because it is not vulnerable to new pressures from Beijing.  South Korean Coupang fell back again by 3.8%. It was mispriced from the start and now its earnings were expected to be less awful than predicted earlier, but it made no difference. It is my worst pick. Its Latin American counterpart, Mercado Libre, MELI, rose 0.55% after opening up only 0.21%. 

Drug firms were mixed, with Novo Nordisk of Denmark up 1.07%, Grifols of Spain up 2.23%, Zymeworks up 2.11 after opening up 1.8%: NVO, GRFS, ZYME. But Tomra Systems fell 3.62% after its guidance was lowered by 7 kroner, having opened up before this hit. Japanese Eisai rose 0.7% despite its US partner falling, ESALY. Astra Zeneca recuperated by a half percent today, AZN. TEVA fell back in Israel after rising yesterday. 

Country funds tended to rise: Korea, Mexico, Ireland, did. Gold is back in favor, if only by a bit. 

The Canadian ute BCE fell 1.35% on news that it will face a new rival, the Rogers-Shaw jv. I expect this will not prevail. 

The main reason why I am filing choppy news blogs is that I cannot access my full brokerage account. When I can I will show clearer performance data.

More upbeat uranium views took the price of Energy Fuels up while Cameco lost 1.18%, UUUU and CCJ. CCJ had its consensus loss per share raised to 0.036 from 0.028, a negative.

*Qualcomm, a US share I own, is paying $37/sh for Veoneer, which we sold too soon. This gets it into automobile chips, the next hot market. There is a shortage of chips but QCOM can resolve some of this.  

 

 

 

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