The Daily

January 24, 2023 Daily Market Commentary Canadian Headlines Canadian stocks rose to their highest level since June 2022 on Monday as investors continue to pile into value stocks amid optimism on China’s reopening. The S&P/TSX Composite Index rose above its 20-, 50- and 100-day moving averages this month, extending a positive run for one of the few major [...]

January 23, 2023 Daily Market Commentary Canadian Headlines • The combination of Tiny and WeCommerce creates a well-capitalized technology holding company managed by a leadership team with a strong track record of building and acquiring profitable companies, driving organic growth, and generating free cash flow for future acquisitions. The proforma newly combined business of WeCommerce [...]

January 20, 2023 Daily Market Commentary Canadian Headlines Shares of Cellnex Telecom SA surged Friday after Spanish news outlet Okdiario reported that American Tower REIT and Brookfield Asset Management Ltd. are weighing a takeover bid for the Spanish wireless-telecommunications company, citing people familiar with the matter. Dah Sing Bank and Sun Life Hong Kong announce a 15-year bancassurance [...]

January 18, 2023 Daily Market Commentary Canadian Headlines Bank of Montreal has received approval from the the Federal Reserve to acquire San Francisco-based Bank of the West, a combination that will create the 15th-largest US lender. After the transaction, Bank of Montreal US subsidiary BMO Financial Corp. will have consolidated assets of $286.8 billion, representing about 1% of those held [...]

January 17, 2023 Daily Market Commentary Canadian Headlines The S&P/TSX Composite rose 0.1%, with nine of 11 sectors higher, led by health care stocks. As of market close, 152 of 236 stocks rose, while 77 fell. Dundee Precious Metals Inc. led the advances, rising 6.1%, while Mullen Group Ltd. decreased 8.7%. Barrick Gold Corp.’s bullion [...]

January 16, 2023 Daily Market Commentary Canadian Headlines The Bank of Canada will release two key reports, the Business Outlook Survey and the Canadian Survey of Consumer Expectations, at 10:30 a.m. Ottawa time. Also ahead Monday morning: December housing sales and prices from the Canadian Real Estate Association. Elliott Investment Management now has until March [...]

January 12, 2023 Daily Market Commentary Canadian Headlines • Mexico and Canada won a trade dispute with the US over cars shipped across regional borders, providing automakers more incentive to make vehicles in those nations. The decision was included in a final report released Wednesday by a five-member dispute-resolution panel set up under the 2020 [...]

January 11, 2023 Daily Market Commentary Canadian Headlines Teck Resources said 4Q steelmaking coal sales were 4.3 million tonnes, below previous guidance, as cold weather affected rail and port operations. Oil reversed an earlier decline as traders weighed the outlook for stronger Chinese demand against a reported build in US crude stockpiles. Ahead Wednesday, retailer Aritzia Inc. will report [...]

January 10, 2023 Daily Market Commentary Canadian Headlines Top central bankers from across Group of 20 said fighting climate change while setting interest rates to combat inflation is now a permanent tension for global monetary policymakers. The US, Canada and Mexico outlined joint actions to address regional issues, including migration and drug trafficking. Canadian Prime Minister Justin Trudeau will [...]

January 9, 2023 Daily Market Commentary Canadian Headlines Canaccord Genuity Group Inc.’s management group is seeking to take the firm private in a C$1.13 billion (about $840 million) deal, taking advantage of a plunge in the share price after last year’s turmoil in capital markets. The management group — which includes the firm’s chief executive officer, chairman [...]