The Daily

July 27, 2021 Daily Market Commentary Canadian Headlines Canadian equities fell Monday with weakness in information-technology stocks. The S&P/TSX Composite Index fell 0.1%. Shopify Inc. dropped 3.9%, most since May 3. The Canadian tech giant is set to report second quarter earnings July 28. Meanwhile, materials and energy stocks rallied ahead of big earnings reports. The takeover [...]

July 26, 2021 Daily Market Commentary Canadian Headlines Pembina Pipeline Corp. terminated its C$8.5 billion ($6.7 billion) agreement to acquire Inter Pipeline Ltd. after Brookfield Infrastructure Partners LP raised its hostile bid for the Canadian energy company. Inter Pipeline said Monday in a statement it will pay a C$350 million termination fee to Pembina. “Inter Pipeline’s Board of Directors is open to [...]

July 23, 2021 Daily Market Commentary Canadian Headlines Magna International Inc. will acquire Veoneer Inc.for $3.8 billion in cash, bolstering its business supplying advanced driver-assistance systems to automakers. The $31.25-a-share offer represents a 57% premium to Veoneer’s closing price on Thursday. The transaction is expected to close toward the end of this year, according to a statement. Veoneer [...]

July 21, 2021 Daily Market Commentary Canadian Headlines Canadian equity markets gained on Tuesday as investors bought the recent dips in stocks, led by health care companies. The S&P/TSX Composite index rose 1.1%, after falling 1.3% on Monday. All of the sectors were in the green, with health care and tech stocks leading the outperformance. [...]

July 20, 2021 Daily Market Commentary Canadian Headlines The selloff in Canadian shares worsened on Monday after the spread of the delta coronavirus variant raised investors’ concern over the economic recovery, while tension between the U.S. and China escalated. The S&P/TSX Composite index fell as much as 1.9% in the biggest intraday drop since March [...]

July 19, 2021 Daily Market Commentary Canadian Headlines Canada has fully vaccinated 48.8% of its population against Covid-19, overtaking the U.S. rate for the first time after a delayed start caused by procurement troubles and distribution bottlenecks. In the U.S, where vaccinations are plateauing in some regions, 48.5% of the population is fully inoculated. Of those old [...]

July 16, 2021 Daily Market Commentary Canadian Headlines Canada will be able to welcome fully vaccinated travelers from all countries by early September if “the current positive path of vaccination rate and public health conditions continue,” Justin Trudeau said. U.S. citizens and residents who’ve had a full course of Covid-19 vaccines could be allowed in for non-essential [...]

July 15, 2021 Daily Market Commentary Canadian Headlines Canada’s wireless spectrum auction is reported to have raised about C$8 billion ($6.4 billion), a record-breaking number that was higher than expected, according to RBC Capital Markets. The figure suggests the industry’s three dominant players -- BCE Inc., Rogers Communications Inc. and Telus Corp. -- may have spent heavily to boost their [...]

July 14, 2021 Daily Market Commentary Canadian Headlines The Bank of Canada is expected to continue scaling back emergency levels of stimulus on Wednesday amid growing optimism about the speed of the recovery. The Ottawa-based central bank is unanimously forecast to cut its weekly purchases of Canadian government bonds by one-third to C$2 billion ($1.6 billion) per [...]

July 13, 2021 Daily Market Commentary Canadian Headlines Royal Dutch Shell on Tuesday said that it plans to construct a large-scale carbon capture and storage facility at its Scotford Complex near Edmonton, Alberta. The Polaris carbon capture and storage facility would have storage capacity of about 300 million tons of carbon dioxide during its entire [...]