Wednesday file

The spate of bad news came to an end when the Federal Reserve said it would delay raising interest rates. However it certainly did not say this will continue for long. The dollar fell.

Drug Dealers

Bluebell Partners Ltd of London has taken a stake in Glaxo to drive out its CEO, Emma Walmsley, who has a marketing rather than a pharma background, but who is mainly targeted because she is a woman.

Aurinia Pharma rose 4.4%. Israeli Teva gained 2.42%. Theravance got a US patent for Neprilysin inhibitors  and rose 3.23%.

Energy

Schlumberger Ltd was tipped by Canada's Investment Reporter as a US share to buy, but it is in fact incorporated in the Dutch Antilles. The oilfields service company was founded in France but became Dutch during a period of leftist governments. The share rose 2% all the same.

Plug Power  of Canada rose on news it is building a hydrogen plant in California.

Royal Dutch Shell will use proceeds from its sale of Permian assets to Conoco-Phillips for shareholder distributions and to improve its balance sheet. We get something from both of these. Shell stock gained 3.63% and there is more to come, while the buyer made lesser gains. 

NIO Capital, a sub of the car firm, three years ago bought into Black Sesame, a chip maker, with help from Hubei Province where its HQ and largest plant are located. Now the Black Sesame company has raised $2 bn for a new industrial fund from Hubei Xiaomi Yangtse Industrial Fund for chip-making and driverless vehicles. Again the carmaker is being funded by the province. NIO also got upgraded by analysts.

The Financial Times today said European natural gas prices are being manipulated up by Russia according to the Paris based International Energy Authority which may lead to freezes this winter. Gazprom is refusing to use pipelines which run via Ukraine and is using its new Nord Stream pipeline to Germany instead to try to force the Europeans and the US to approve this alternative. 

Tech

Microsoft rolled out a new laptop, 3 tablets, and a folding phone (it's not the only one) for the Christmas gift market. 

Israeli Tower Semiconductor rose 3.88% after an analyst upgrade. TSEM.

Antofagasta, a recent buy when we were in London, has finally begun to score, up 6.5% today on no news I can find. 

Uber is about to report its first profitable quarter according to a regulatory filing

Computer Modelling gained 5% for no reason I can find. 

Wood

Weyerhaeuser of Canada is doing a $1 bn buyback of its shares and paying a one-time dividend of 50 cents US to be able to add to its timberlands. WY stock gained 3.35% on the move. 

Banks

Banco Santander of Spain rose 4.12% today helped by the dollar losing some of its prowess but mainly thanks to its successful euro denominated bond issue this week. 

Japanese bank stocks fell notably Mitsubishi UFG Finance. This may be linked to the maneuvers of bankrupt Shinsei Bank

 

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