The Daily

April 27, 2021 Daily Market Commentary Canadian Headlines Canadian stocks advanced on Monday as tech and health care companies outperformed other sectors. The S&P/TSX Composite index rose 0.4% in Toronto. Tech stocks were led by Shopify, as the e-commerce giant’s shares rose 5%, heading into this week’s earnings. On the M&A front, Fortuna Silver Mines [...]

April 26, 2021 Daily Market Commentary Canadian Headlines Canadian Pacific Railway Ltd. won a petition for its proposed tie-up with Kansas City Southern to be exempt from tougher merger rules that the regulator had established in 2001, lowering the burden for winning approval of the deal. The Surface Transportation Board, which is the final authority on rail acquisitions, [...]

April 23, 2021 Daily Market Commentary Canadian Headlines Canadian equities dipped Thursday in a volatile session, with U.S. President Joe Biden thinking about doubling the capital gains tax rate for wealthy individuals to 39.6%. The S&P/TSX Composite Index fell 0.6% to its lowest since April 5. All 11 sectors declined, with tech and materials leading the drop. Ontario Premier Doug [...]

April 22, 2021 Daily Market Commentary Canadian Headlines Canadian equities rose amid corporate earnings reports after dropping in the previous two session. The S&P/TSX Composite Index gained 0.5%, with eight of 11 sectors higher. Shaw Communications jumped 6.8% after earnings, while Trulieve Cannabis and Canopy Growth Gorp. both rose more than 6%. Oil fell for a second day [...]

April 21, 2021 Daily Market Commentary Canadian Headlines Canadian equities extended their drop Tuesday to their lowest level since April 5. The S&P/TSX Composite Index fell 0.9%, with marijuana stocks leading the drop. Industrials were also weak with Canadian National Railway dropping 6.3% after a deal offer. CN’s offer of $30 billion to snatch Kansas [...]

April 20, 2021 Daily Market Commentary Canadian Headlines Canadian equities dropped Monday led by a retreat in information technology stocks. The S&P/TSX Composite fell 0.8% to its lowest level since April 14. Shopify and Lightspeed POS led tech shares lower, both down over 3.5%. Ten of eleven sectors dropped. Kansas City Southern spiked as much as [...]

April 19, 2021 Daily Market Commentary Canadian Headlines Justin Trudeau is set to unveil a vision for Canada’s post-pandemic recovery that will double as an election platform, heavy on new spending and assurances the mounting debt is affordable. The April 19 budget, the prime minister’s first full fiscal plan since before Covid-19 hit, is an opportunity [...]

April 16, 2021 Daily Market Commentary Canadian Headlines Canadian stocks climbed to a new high on Thursday after mining and tech companies outperformed. The S&P/TSX Composite index rose 0.8% in Toronto. Miners were the best performers as most metals rallied, while health care stocks performed the worst as pot stocks declined. Meanwhile, the Canadian housing market hit [...]

April 15, 2021 Daily Market Commentary Canadian Headlines Canadian shares gave up their session gains on Wednesday after tech and marijuana stocks declined. The S&P/TSX Composite index fell 0.2% in Toronto. Tech and health care sectors were the worst performers, while energy and materials were the best. Oil price surged to the highest level in a [...]

April 14, 2021 Daily Market Commentary Canadian Headlines Royal Bank of Canada and Bank of Nova Scotia have signed on to help provide the C$19 billion ($15.2 billion) bridge loan raised by Rogers Communications Inc. to buy a smaller rival, according to a person familiar with the matter. Bank of America Corp., which was initially the sole lender on the transaction, carried [...]