The Daily

September 15, 2022 Daily Market Commentary Canadian Headlines Ontario’s government is creating an economic advisory group with representatives from Stellantis NV and three indigenous groups to try to advance billions of dollars of investment in clean energy and infrastructure projects. The governments of Canada and Ontario have provided financial support to a raft of electric vehicle initiatives [...]

September 14, 2022 Daily Market Commentary Canadian Headlines The Canadian government has declared Monday a federal holiday for the funeral of Queen Elizabeth II, but financial markets will function normally. TMX Group Ltd., operator of the Toronto Stock Exchange, said the main exchange, the TSX Venture Exchange and TSX Alpha Exchange will follow normal trading [...]

September 13, 2022 Daily Market Commentary Canadian Headlines The S&P/TSX Composite rose 1.1%, with 11 of 11 sectors higher, led by energy stocks. As of market close, 213 of 237 stocks rose, while 21 fell. New Gold Inc. led the advances, rising 8.1%, while Corus Entertainment Inc. decreased 8.2%. Ontario Teachers’ Pension Plan Board, one [...]

September 12, 2022 Daily Market Commentary Canadian Headlines Around the world, soaring borrowing costs are squeezing homebuyers and property owners alike. From Sydney to Stockholm to Seattle, buyers are pulling back as central banks raise interest rates at the fastest pace in decades, sending house prices falling. Meanwhile, millions of people who borrowed cheaply to purchase [...]

September 2, 2022 Daily Market Commentary Canadian Headlines Canadian equities dropped for the fifth straight day as energy and materials stocks tumbled. The S&P/TSX Composite fell 1%, or 188.09 to 19,142.72 in Toronto. The index dropped to the lowest closing level since July 26. Bank of Nova Scotia contributed the most to the index decline, [...]

September 1, 2022 Daily Market Commentary Canadian Headlines Canadian equities drop to their lowest level since late July, led by energy as oil posted a third monthly drop -- the longest losing streak in more than two years. The S&P/TSX Composite fell for the fourth day, dropping 0.9%, or 182.09 to 19,330.81 in Toronto. The [...]

August 31, 2022 Daily Market Commentary   Canadian Headlines Canadian equities tumbled in their biggest one-day drop in more than two months as slumping oil and copper prices dragged down energy and materials stocks. The S&P/TSX Composite fell for the third day, dropping 1.6%, or 323.22, to 19,512.90 in Toronto. The move was the biggest [...]

August 30, 2022 Daily Market Commentary   Canadian Headlines Bank of Montreal became another victim of the slowdown in capital markets last quarter, as a slump in equity and debt issuances reduced investment-banking fees. Capital-markets revenue fell 20% to C$1.26 billion ($974 million) in the fiscal third quarter, the Toronto-based company said in a statement Tuesday. Overall profit missed [...]

August 29, 2022 Daily Market Commentary Canadian Headlines A slump in capital-markets activity and expectations that the economy may take a turn for the worse are casting a pall over a Canadian bank earnings season that showed the lenders’ core businesses in otherwise solid shape. Five of Canada’s six largest banks posted fiscal third-quarter results [...]

August 26, 2022 Daily Market Commentary Canadian Headlines Canada’s Open Text Corp. struck a deal to buy UK software firm Micro Focus International Plc for about $6 billion including debt, building on a strategy of growth by acquisition. The Waterloo, Ontario-based company is offering 532 pence per Micro Focus share, a 99% premium to Thursday’s closing price. Open Text said [...]