The Daily

May 11, 2021 Daily Market Commentary Canadian Headlines Justin Trudeau’s debt-financed spending plan earned a stamp of approval from at least one former Bank of Canada governor amid a simmering debate over whether the budget can propel long-term growth. Stephen Poloz, whose term as the nation’s central bank chief ended last June, said in an interview that [...]

May 10, 2021 Daily Market Commentary Canadian Headlines Ninepoint Partners LP is seeking to lessen apprehension about the energy usage of Bitcoin by dedicating a portion of its crypto ETF’s management fee to offset the fund’s carbon footprint. “For some investors who are concerned about the carbon footprint of mining, they may be wary of [...]

May 7, 2021 Daily Market Commentary Canadian Headlines Canadian equities closed lower Thursday amid a wave of corporate earnings. The S&P/TSX Composite Index fell 0.1%. Materials were a bright spot, while cannabis and tech retreated. Spot iron ore broke $200 a ton for the first time, while copper approached a record high as Chinese investors unleashed fresh [...]

May 6, 2021 Daily Market Commentary Canadian Headlines Canadian equities rose Wednesday amid a slew of corporate earnings. The S&P/TSX Composite Index rose 0.6%, with energy and materials leading. Teck Resources Ltd. gained 7.1% and Suncor Energy Inc. rose 3.6%. U.S. lumber futures extended their steep rally to fresh record highs, shooting above $1,500 as sawmills try [...]

May 5, 2021 Daily Market Commentary Canadian Headlines Canadian equities fell Tuesday after mixed earnings reports, while U.S. Treasury Secretary Janet Yellen ruffled markets with a comment that interest rates will likely rise. The S&P/TSX Composite Index fell 0.1%. Ballard Power Systems Inc. tumbled 20% after weak earnings, while Bausch Health Cos Inc. lost 11%. The Bloomberg Commodity Spot Index, which tracks [...]

May 4, 2021 Daily Market Commentary Canadian Headlines The real estate investment firm Hines is raising money for deals in the Asia-Pacific region as it looks for opportunities coming out of the pandemic. The fund, Hines Asia Property Partners, will have an initial investment capacity of roughly $900 million, according to a statement on Tuesday. Cadillac Fairview, [...]

May 3, 2021 Daily Market Commentary Canadian Headlines Canada’s top capital markets regulator is investigating officers and shareholders of Bridging Finance Inc., one of the country’s largest private lenders, on allegations they misappropriated investor funds. An Ontario court appointed PricewaterhouseCoopers to take control of Bridging at the request of the Ontario Securities Commission, pending the outcome of the investigation. [...]

April 30, 2021 Daily Market Commentary Canadian Headlines Canadian stocks fell on Thursday, after tech and materials stocks underperformed. The S&P/TSX Composite index fell 0.5% in Toronto. Tech stocks were the worst performers, while energy outperformed. Meanwhile, lumber demand is so strong that Resolute Forest Products Inc.’s order book exceeds its inventory, according to Chief Executive Officer [...]

April 29, 2021 Daily Market Commentary Canadian Headlines BCE Inc. said its first-quarter revenue rose 1.2% from a year earlier, to C$5.7 billion ($4.6 billion), beating analysts’ average estimates of C$5.60 billion. The Montreal-based company added 32,925 new postpaid mobile phone subscribers. Average billing per mobile user fell 3.4% to C$70.34. BCE’s profitability beat expectations. Adjusted [...]

April 28, 2021 Daily Market Commentary Canadian Headlines Canadian shares were little changed as a rally in energy stocks were matched by a decline in mining companies. The S&P/TSX Composite index was flat in Toronto. Energy stocks were the best performers as oil climbed with the OPEC+ alliance and BP Plc pointing to signs of a robust [...]