The Daily

April 20th, 2020 Daily Market Commentary Canadian Headlines The Covid-19 pandemic has prompted Canadian convenience-store giant Alimentation Couche-Tard Inc. to walk away from its A$8.8 billion ($5.6 billion) proposal for fuel retailer Caltex Australia Ltd. Couche-Tard decided against a revised offer after completing its due diligence, ending its six-month pursuit of the Australian company. A deal for Caltex [...]

April 17th, 2020 Daily Market Commentary Canadian Headlines Canadian equities retreated Thursday despite multiple attempts at breaking upward. Concerns remain regarding the economic impact of the nation’s shutdown. Ontario Premier Doug Ford said Canada should keep its borders closed to the U.S. until the coronavirus pandemic is contained. The S&P/TSX Composite Index fell 0.4%. Information [...]

April 16th, 2020 Daily Market Commentary Canadian Headlines Canadian equities fell Wednesday as a risk-off mood took hold while investors scoured the latest economic data and corporate earnings. The Bank of Canada is broadening the range of assets it will purchase in a bid to support an economy that could be heading for a deeper recession than [...]

April 15th, 2020 Daily Market Commentary Canadian Headlines Canadian equities advanced Tuesday as leaders across Europe weighed steps to exit quarantines, with Denmark set to reopen daycare centers and primary schools. Meanwhile, Spain, Germany and Italy all reported fewer infections, suggesting the crisis continues to ease. Canada’s Prime Minister Justin Trudeau said Tuesday the domestic economy is still [...]

April 13th, 2020 Daily Market Commentary Canadian Headlines The stock market is heading into an unprecedented earnings season. With little clue as to how and when the global economy will sputter back to life after its historic thrashing from the coronavirus, companies have pulled profit forecasts and investors are flying blind. Even rare companies that [...]

April 9th, 2020 Daily Market Commentary Canadian Headlines Finance Minister Bill Morneau expects Canada to maintain a strong credit rating even as the country unleashes fiscal support of at least C$250 billion ($178 billion) to offset the effects of the coronavirus. The cost to ensure Canada’s AAA-rated debt is rising, according to credit default swaps, pointing to potential negative [...]

April 8th, 2020 Daily Market Commentary Canadian Headlines In the early days of Canada’s response to the coronavirus, before the crisis captured the full attention of Prime Minister Justin Trudeau’s government, it was still business as usual on at least one front: immigration. On March 12, the day before the Canadian parliament was suspended on concern [...]

April 7th, 2020 Daily Market Commentary Canadian Headlines As quickly as the Canadian stock market fell into a bear market, it has even more rapidly surged 21% from its bottom. Yet, few are willing to call the rally by its technical definition -- a bull market. In 10 trading days, the S&P/TSX Composite Index jumped from [...]

April 6th, 2020 Daily Market Commentary Canadian Headlines Economists agree Canada’s labor market suffered major damage in March, but the range of forecasts varies wildly. Royal Bank of Canada sees 1 million lost jobs last month and Citigroup Inc. predicts 1.1 million after the coronavirus forced companies nationwide to cut staff. At the other end of the [...]

April 3rd, 2020 Daily Market Commentary Canadian Headlines Canadian equities jumped as a confluence of news sent oil and precious metals surging on Thursday. The S&P/TSX Composite Index closed 1.7% higher with energy companies leading the charge. U.S. President Donald Trump said Saudi Arabia and Russia would make major output cuts, though uncertainty swirled over the [...]