The Daily

July 25, 2022 Daily Market Commentary Canadian Headlines Rogers Communications Inc. said it plans to invest C$10 billion ($7.8 billion) over the next three years in networks to improve reliability after a massive outage earlier this month. The House of Commons industry committee will hold hearings Monday on that incident. Crypto platform Voyager Digital LLC said a joint offer proposed [...]

July 20, 2022 Daily Market Commentary Canadian Headlines Statistics Canada will report inflation numbers for June at 8:30 a.m. Ottawa time, with economists expecting a print of 8.4%, potentially setting up more aggressive Bank of Canada rate hikes this fall. The rapid increase in rates this year is already evident in housing markets in cities [...]

July 19, 2022 Daily Market Commentary Canadian Headlines (Reuters) - Private equity firm CVC Capital and wood panel manufacturer Kronospan have submitted a joint expression of interest to acquire Canadian lumber company West Fraser Timber Co, people familiar with the matter said on Tuesday. Suncor Energy Inc.’s decision to bow to investor pressure and investigate [...]

July 18, 2022 Daily Market Commentary Canadian Headlines Suncor Energy Inc. reached a deal with activist investor Elliott Investment Management LP to appoint three new directors to the Canadian oil sands company’s board and review its retail business for a possible sale. The refreshed board will form a committee to conduct the review of the downstream assets, Suncor [...]

July 15, 2022 Daily Market Commentary Canadian Headlines Canadian bank stocks slid the most in more than two years as the first round of earnings from US lenders weighed on the outlook for the financial sector amid growing fears of a recession. The S&P/TSX Composite Commercial Banks Index, which tracks Canada’s eight largest lenders, dropped 3.8% [...]

July 14, 2022 Daily Market Commentary Canadian Headlines Canadian stocks pared earlier losses after the market dipped to its lowest point since March 2021 on the Bank of Canada’s largest interest-rate hike since 1998. The S&P/TSX Composite Index ended the session 0.3% lower, rebounding from a 1.6% intraday drop after the central bank lifted interest rates by [...]

July 13, 2022 Daily Market Commentary Canadian Headlines Cable and wireless firm Rogers Communications Inc. said it will give customers a credit worth five days of service as compensation for last week’s network failure, which knocked more than 10 million people offline and temporarily choked Canada’s payments system. The move is “a first step” to regain the trust [...]

July 12, 2022 Daily Market Commentary Canadian Headlines Canadian equities dipped as investors sold risky stocks -- cannabis, tech, and consumer discretionary -- amid recession fears ahead of the Bank of Canada’s rate decision this week. This marks the second day of losses for the S&P/TSX index, which dropped 1.1%, or 206.06 to 18,816.80 in [...]

July 8, 2022 Daily Market Commentary Canadian Headlines Germany expects Canada to release a key Russian pipeline part caught up in sanctions, a move that both Berlin and Moscow have said could ease the squeeze on gas flows to Europe. According to a person familiar with the situation, Germany expects Canada to send the turbine [...]

July 4, 2022 Daily Market Commentary Canadian Headlines A Chinese-Canadian tycoon who was seized at a Hong Kong hotel five years ago and has lost much of his business empire to the Chinese government is going on trial on Monday. The Canadian embassy in Beijing said in a statement that it was aware Xiao Jianhua’s trial [...]