The Daily

December 8, 2022 Daily Market Commentary Canadian Headlines Canada is proposing to change its foreign investment law, creating new powers for a cabinet minister to impose conditions on deals to protect national security. The new legislation was promised in the government’s release of its Indo-Pacific strategy in November. It’s part of a broader government effort to guard [...]

December 7, 2022 Daily Market Commentary Canadian Headlines The S&P/TSX Composite fell 1.2%, with 11 of 11 sectors lower, led by health care stocks. As of market close, 198 of 236 stocks fell, while 37 rose. Canopy Growth Corp. led the declines, falling 16%, while Fortuna Silver Mines Inc. increased 2.2%. The Bank of Canada [...]

December 6, 2022 Daily Market Commentary Canadian Headlines Toronto home prices fell the least this year in November as fewer people put their homes up for sale, slowing a correction that began when interest rates started to march higher. The benchmark home price in Canada’s largest city slipped 0.8% to C$1.09 million ($802,000), the smallest monthly [...]

December 5, 2022 Daily Market Commentary Canadian Headlines The S&P/TSX Composite fell 0.2%, with seven of 11 sectors lower, led by real estate stocks. As of market close, 148 of 236 stocks rose, while 86 fell. Tilray Brands Inc. led the advances, rising 9.6%, while Wesdome Gold Mines Ltd. decreased 8.6%. A Blackstone Inc. business [...]

December 2, 2022 Daily Market Commentary Canadian Headlines The Biden administration proposed a ban on waste disposal that would thwart a long-planned gold and copper mine in Alaska, citing the potential harm to the area’s thriving sockeye salmon industry. The Environmental Protection Agency issued a formal recommendation Thursday to bar the disposal of mining waste in Bristol Bay, which [...]

December 1, 2022 Daily Market Commentary Canadian Headlines Toronto-Dominion Bank is making the most of rising interest rates, with widening lending margins lifting results. Net interest margin -- the difference between what the bank earns on loans and what it pays for deposits -- expanded to 1.81% in the fiscal fourth quarter, up 7 basis points [...]

November 30, 2022 Daily Market Commentary Canadian Headlines Royal Bank of Canada, which just struck its largest deal ever to expand in its home market, is getting a boost from its dominant position in the country’s retail banking landscape at a time when rising rates are making lending more profitable. Net interest income rose 24% [...]

November 29, 2022 Daily Market Commentary Canadian Headlines Royal Bank of Canada agreed to buy HSBC Holdings Plc’s Canadian unit -- the country’s seventh-largest bank -- for C$13.5 billion ($10 billion) in cash, expanding its roster of business clients and bulking up its retail presence on the West Coast. The deal is expected to be completed by [...]

November 28, 2022 Daily Market Commentary Canadian Headlines Canada’s banks are expected to post their second straight quarter of declining earnings as the darkening economic outlook slows loan growth and prompts them to stockpile capital, outweighing the benefit of wider lending margins. Net income at the country’s six largest lenders is projected to have fallen [...]

November 25, 2022 Daily Market Commentary Canadian Headlines The S&P/TSX Composite rose 0.3%, with nine of 11 sectors higher, led by materials stocks. As of market close, 148 of 236 stocks rose, while 84 fell. Corus Entertainment Inc. led the advances, rising 5.7%, while Wesdome Gold Mines Ltd. decreased 3.5%. Prime Minister Justin Trudeau is set to [...]