The Daily

January 5, 2023 Daily Market Commentary Canadian Headlines Home-sales activity slowed to a crawl in Canada’s largest city in December, with just 3,117 homes trading hands to end a year that saw prices decline by a record amount. The benchmark price of a home in Toronto fell 0.8% in December from the month before to [...]

January 4, 2023 Daily Market Commentary Canadian Headlines Oil’s rough start to the year worsened as a deteriorating demand outlook came to the fore, buttressed by predictions for a US recession, China’s near-term struggles with Covid-19, and milder winter weather. West Texas Intermediate fell below $75 a barrel. Canfor Corp. said it’s extending sawmill curtailments [...]

January 3, 2023 Daily Market Commentary Canadian Headlines Shopify Inc. spent last year cutting costs. Now, it’s cutting meetings. As employees return from holiday break, the Canadian e-commerce firm said it’s conducting a “calendar purge,” removing all recurring meetings with more than two people “in perpetuity,” while reupping a rule that no meetings at all can be held [...]

December 22, 2022 Daily Market Commentary Canadian Headlines Superior Plus Corp. said Thursday it agreed to buy fuel-distributor Certarus Ltd. in a deal valued at 1.05 billion Canadian dollars ($771.3 million), bolstering its portfolio with the addition of complementary fuels including compressed natural gas, renewable gas and hydrogen. Superior said it will acquire Certarus for [...]

December 21, 2022 Daily Market Commentary Canadian Headlines TC Energy pushed back the restart of its Keystone oil pipeline by a week after a 14,000-barrel oil spill shut the conduit, according to people familiar with the matter. The company had expected to begin a full restart Dec. 20 but is now targeting Dec. 28 or 29, [...]

December 20, 2022 Daily Market Commentary Canadian Headlines Magna International Inc. has agreed to buy a driver-assistance unit from SSW Partners for about $1.5 billion following a drawn-out battle to control previous parent Veoneer Inc. The purchase will complement the Canadian-Austrian automotive supplier’s advanced driver-assistance business with combined sales expected to reach $3 billion in [...]

December 19, 2022 Daily Market Commentary Canadian Headlines The threat of a mass extinction of plant and animal species led 195 nations early Monday to agree to protect and restore at least 30% of the Earth’s land and water by 2030.  Rich nations committed to pay an estimated $30 billion a year by 2030 to [...]

December 16, 2022 Daily Market Commentary Canadian Headlines The S&P/TSX Composite fell 1.5%, with 11 of 11 sectors lower, led by materials stocks. As of market close, 154 of 237 stocks fell, while 78 rose. TransAlta Renewables Inc. led the declines, falling 17%, while NFI Group Inc. increased 3.7%. Advent International Corp. agreed to buy satellite [...]

December 15, 2022 Daily Market Commentary Canadian Headlines A section of TC Energy’s Keystone pipeline unaffected by a recent spill, from Alberta to Illinois, was restarted. Oil prices rallied, with WTI over $77. Carlsberg agreed to buy Waterloo Brewing, based in Kitchener, Ontario, for about C$144 million. Ahead Thursday: Canada Mortgage and Housing Corp. will [...]

December 13, 2022 Daily Market Commentary Canadian Headlines Bank of Montreal, which is working to close the largest acquisition in its history, is selling C$3.15 billion ($2.31 billion) in equity to make sure it can meet Canadian regulators’ recently-increased capital requirements. The bank is issuing C$1.4 billion in shares in a public offering at C$118.60 [...]