The Daily

November 8, 2022   Daily Market Commentary Canadian Headlines Enbridge Inc., Bank of Nova Scotia and Bell Canada are among five issuers selling debt in the Canadian dollar corporate bond market, joining the US and European companies in unleashing a crush of new sales. The energy pipeline company raised C$2 billion ($1.48 billion) by selling securities in three portions while [...]

November 7, 2022   Daily Market Commentary Canadian Headlines Dream Industrial REIT has partnered with GIC to acquire Summit Industrial Income REIT in an all-cash transaction valued at C$5.9 billion. Dream Industrial REIT to acquire a 10% interest in Summit Industrial Income REIT, representing an approximately C$470 million total equity requirement, with intention to finance [...]

November 3, 2022   Daily Market Commentary Canadian Headlines Prime Minister Justin Trudeau’s government will propose a tax on corporate stock buybacks in an effort to encourage companies to invest in domestic operations and workers, Canadian Press reported.  The story, which cited an unnamed government official, didn’t elaborate on the plan, which will be part of [...]

November 2, 2022   Daily Market Commentary Canadian Headlines Canada Goose Holdings Inc. lowered its outlook for the year, saying coronavirus restrictions in China and “significant uncertainty” in the global economy will hurt sales and margins. The shares fell 8% in premarket trading in New York. The Canadian manufacturer of high-end parkas and apparel said it expects [...]

November 1, 2022   Daily Market Commentary Canadian Headlines The judge presiding over the antitrust case against Rogers Communications Inc.’s takeover of a rival has asked lawyers representing the company and Canada’s antitrust czar whether there’s a solution to the impasse that’s stalling the deal. Chief Justice Paul Crampton ordered legal counsel for Rogers, Shaw Communications Inc. and the federal Competition [...]

October 31, 2022 Happy Halloween! Daily Market Commentary Canadian Headlines West Texas Intermediate futures dipped below $87 a barrel on Monday after Chinese government figures showed factory and services activity contracted in October. Wheat futures jumped as much as 7.7% early on Monday, with traders pointing to uncertainty about the outlook even as ships loaded with crops are departing Ukraine and [...]

October 28, 2022 Daily Market Commentary Canadian Headlines Rogers Communications Inc. failed to settle a dispute with Canada’s antitrust watchdog about its takeover of Shaw Communications Inc. during mediated talks, almost certainly sending the parties to court. The companies said they’re committed to the deal and are confident of their chances in litigation. That step is scheduled to begin [...]

October 27, 2022 Daily Market Commentary Canadian Headlines Shopify Inc. gained as it reported revenue that beat analysts’ expectations after adding more avenues for merchants to sell and promote their products. Revenue was $1.4 billion in the third quarter, the Ottawa-based company said in a statement Thursday. That exceeded expectations for $1.3 billion, according to the median of [...]

October 26, 2022 Daily Market Commentary Canadian Headlines The Canadian government imposed new conditions on Rogers Communications Inc.’s $14.7 billion takeover of rival Shaw Communications Inc., saying that a divestiture of Shaw’s wireless assets to another firm must guarantee better prices for consumers. Rogers and Shaw have agreed to sell most of Shaw’s wireless division to Quebecor Inc. to [...]

October 25, 2022 Daily Market Commentary Canadian Headlines John Tory cruised to a third term as mayor of Toronto, as voters in Canada’s financial capital opted for a status-quo candidate with a strong fiscal pedigree at a time of growing economic uncertainty. It’s the first time any mayor has won three consecutive elections in Toronto since [...]