The Daily

February 8, 2023 Daily Market Commentary Canadian Headlines Brookfield Asset Management Ltd.’s distributable earnings rose 6% in the fourth quarter as it wrapped up a year of record fundraising. The Canadian alternative asset manager said distributable earnings increased to $569 million from $539 million in the prior year. It’s the first quarterly report for Brookfield Asset [...]

February 7, 2023 Daily Market Commentary Canadian Headlines Bank of Canada Governor Tiff Macklem is scheduled to give a lunchtime speech in Quebec City. A central bank survey shows financial market participants expect the BOC will cut its key interest rate to 4% by December, from the current 4.5%. Prime Minister Justin Trudeau is preparing to commit billions of [...]

February 6, 2023 Daily Market Commentary Canadian Headlines Newmont Corp. made a provisional offer to acquire Australia’s top gold miner Newcrest Mining Ltd. in what would be the biggest global takeover of the year so far. The offer, which values Newcrest at around $17 billion, would also be one of the largest in Australian history, according to data [...]

February 2, 2023 Daily Market Commentary Canadian Headlines Rogers Communications Inc., Canada’s largest wireless provider, reported fourth-quarter profit that topped analysts’ estimates as an increase in subscribers boosted revenue in its largest unit. Profit excluding some items was C$1.09 a share. Analysts estimated 98 cents, on average. The company’s wireless unit, its most important business, [...]

February 1, 2023 Daily Market Commentary Canadian Headlines Allied Properties REIT named Chief Financial Officer Cecilia Williams as its next CEO, to take over from company founder Michael Emory in May. Oil steadied before the Federal Reserve’s monetary-policy decision and guidance from producer group OPEC and its allies. CGI Inc. reported adjusted earnings per share for the first quarter [...]

January 31, 2023 Daily Market Commentary Canadian Headlines Statistics Canada will report gross domestic product for November at 8:30 a.m. Ottawa time, with economists forecasting that the economy likely grew by 0.1%. Oil headed for a third straight monthly loss as traders awaited clues on China’s economic recovery as well as latest guidance from OPEC+ producers and Wednesday’s monetary [...]

January 30, 2023 Daily Market Commentary Canadian Headlines Rogers, Shaw and Quebecor agreed to extend the outside date of the proposed merger of Rogers and Shaw and the acquisition of Freedom Mobile by Videotron to Feb. 17. The companies continue to work with Innovation, Science and Economic Development Canada to secure the final approval needed [...]

January 27, 2023 Daily Market Commentary Canadian Headlines Hedge fund manager Anson Funds is backing an activist investor who’s fighting for control of First Capital Real Estate Investment Trust. TotalEnergies EP Canada took a further 6.7% stake in the Fort Hills oil-sand project for C$312 million ($234 million). Ahead Friday, watch for earnings from Real Matters Inc. Crude [...]

January 26, 2023 Daily Market Commentary Canadian Headlines Canada’s Tiff Macklem was the first Group of Seven central banker to adopt outsize rate hikes to tame runaway inflation, saying that big increases would boost the odds of a soft landing later on. Now his argument is being put to the test. After raising its overnight lending rate to 4.5%, [...]

January 25, 2023 Daily Market Commentary Canadian Headlines Finance Minister Chrystia Freeland is facing significant pressure to spend more on clean-energy subsidies and health care, even as a possible recession looms. Canadian National Railway Co. beat analysts’ forecasts in the fourth quarter but said a “softer economic outlook” will hurt growth in 2023. Ahead Wednesday, watch for an interest [...]