The Daily

August 9, 2022 Daily Market Commentary Canadian Headlines Investment group Fairfax Financial Holdings Ltd. has pitched a take-private deal for Recipe Unlimited Corp.that values the Canadian restaurant chain at about C$1.2 billion ($933 million). Toronto-based Fairfax would pay C$20.73 in cash for the company, which owns fast-casual and fast-food brands such as East Side Mario’s, Kelseys and Swiss Chalet. [...]

August 6, 2022 Daily Market Commentary Canadian Headlines Barrick Gold Corp. became one of the few major mining companies this earnings season to deliver a positive surprise, navigating cost inflation and production challenges to exceed analysts’ estimates. The world’s No. 2 gold producer on Monday reported adjusted earnings of 24 cents a share for the second quarter versus [...]

August 5, 2022 Daily Market Commentary Canadian Headlines TC Energy Corporation today announced that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and Scotiabank, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 28,400,000 common shares of the Company at a price [...]

August 4, 2022 Daily Market Commentary Canadian Headlines Sun Life Financial Inc.’s second-quarter earnings were boosted by the growth of its Canadian business. Underlying net income in Canada rose 19% to C$344 million ($268 million), driven by higher new-business gains, favorable credit, investments and lower claims volume, according to a statement Wednesday. The Toronto-based company’s asset-management unit [...]

August 3, 2022 Daily Market Commentary Canadian Headlines Semiconductor maker Semtech Corp. is acquiring Sierra Wireless Inc. in all-cash transaction valuing the Canadian company at $1.2 billion including debt. Semtech said in a statement Tuesday that it’s paying $31 a share for Sierra Wireless, a premium of about 25% to Friday’s closing price before Bloomberg News reported the merger talks. The [...]

August 2, 2022 Daily Market Commentary Canadian Headlines Toronto-Dominion Bank agreed to buy US brokerage Cowen Inc.for $1.3 billion in cash, bulking up its presence in American capital markets just months after striking a historic deal to expand its retail operations in the country. Toronto-Dominion agreed to pay $39 a share, according to a statement Tuesday. The acquisition [...]

July 29, 2022 Daily Market Commentary Canadian Headlines A lingering trade dispute between the US and Canada is expected to keep tariffs on softwood lumber in place, adding to soaring inflation costs. The US is expected to  lower duty rates on Canadian softwood lumber in a ruling next week, but not get rid of them, said Susan Yurkovich, [...]

July 28, 2022 Daily Market Commentary Canadian Headlines In a mining reporting season marked by stickier-than-expected inflation, at least one producer saw the rising costs coming. Agnico Eagle Mines Ltd. took out protection against pricier fuel amid an energy squeeze exacerbated by Russia’s invasion of Ukraine, while hedging its foreign-exchange exposure as central banks in the [...]

July 27, 2022 Daily Market Commentary Canadian Headlines Shopify Inc. slumped in premarket trading after the company kicked off earnings season for e-commerce firms with a second-quarter result that missed analysts’ estimates. The Ottawa-based company fell more than 6% to $29.47 in premarket trading in New York as of 7:13 a.m. Shopify posted a loss of [...]

July 26, 2022 Daily Market Commentary Canadian Headlines Central banks are responsible for soaring inflation rates around the world and should admit that they over-stimulated economies during the pandemic. That’s the view of former New Zealand central bank governor Graeme Wheelerand Bryce Wilkinson, a senior research fellow with the New Zealand Initiative think tank, who have [...]