The Daily

November 15, 2021 Daily Market Commentary Canadian Headlines First Quantum Minerals Ltd. said Tristan Pascall will take over as chief executive officer in May from co-founder Philip Pascall, who will remain as the company’s chairman. Tristan Pascall became the Vancouver-based miner’s chief operating officer in January after joining First Quantum in 2007. He held senior operational roles in Africa [...]

November 11, 2021 Daily Market Commentary Canadian Headlines Canadian equities finished lower Wednesday as shares in the tech sector led losses and a dip in oil dragged on energy companies. The S&P/TSX Composite fell 0.6% at 21,461.93 in Toronto. The decline was the biggest since falling 0.8% on Oct. 29 and follows the previous session’s [...]

November 10, 2021 Daily Market Commentary Canadian Headlines Canadian Natural Resources to buy Storm Resources for C$6.28/share cash, Storm Resources says in release. Purchase price implies an enterprise value for Storm of approximately C$960 million. Storm says holders with 12.6% of outstanding shares will vote in favor of deal. The White House pledged to discuss [...]

November 9, 2021 Daily Market Commentary Canadian Headlines Onex Partners to Buy Fidelity Building Services Group, according to a press release. Onex Corporation today announced that Onex Partners V, Onex' $7.2 billion fund, has agreed to acquire Fidelity Building Services Group, in partnership with the company's management team. Canaccord Genuity Group Inc.’s dealmakers turned in their [...]

November 8, 2021 Daily Market Commentary Canadian Headlines FirstEnergy Corp. agreed to sell a stake in its transmission businesses to Brookfield Asset Management Inc. for $2.4 billion. The Akron, Ohio-based utility will sell a 19.9% stake in FirstEnergy Transmission to Brookfield’s infrastructure group, according to a statement Sunday. Separately, FirstEnergy will issue $1 billion in common stock to Blackstone [...]

November 4, 2021 Daily Market Commentary Canadian Headlines Canadian equities finished close to an all-time record amid strength in the health-care sector and positive sentiment in U.S. markets following the Federal Reserve decision. The S&P/TSX Composite rose 0.4% to 21,265.10 in Toronto. The index advanced to the highest closing level since Oct. 25 after the [...]

November 3, 2021 Daily Market Commentary Canadian Headlines Toronto’s housing market posted its second-best October on record, with prices continuing to soar as a flood of buyers chased a dwindling number of homes for sale. A total of 9,783 homes changed hands, shy of last year’s 10,503 deals, which was an all-time high for October, [...]

November 2, 2021 Daily Market Commentary Canadian Headlines CI Financial Corp. and R.H. Bluestein & Co. today announced an agreement under which CI will acquire a majority interest in Bluestein, a Birmingham, Michigan and New York-based private client firm overseeing US$4.1 billion in assets. Founded in 1990, Bluestein is led by Robert H. Bluestein and Jeffrey [...]

November 1, 2021 Daily Market Commentary Canadian Headlines Australian electricity and gas distribution company AusNet Services has agreed to a binding takeover offer from a consortium including Brookfield Asset Management in a deal that values the business at A$10.2 billion ($7.7 billion).  AusNet said its board unanimously supports the A$2.65 per share offer from the group, which also includes [...]

October 29, 2021 Daily Market Commentary Canadian Headlines Canadian heavy crude’s price collapsed at the U.S. trading hub of Cushing as refiners shun heavy and higher-sulfur crude for lighter grades that are less expensive to process in refineries. Western Canadian Select’s discount for December to West Texas Intermediate widened to $9 a barrel at Cushing [...]