April 18th, 2016

Daily Market Commentary



  • Foreign investment in Canadian securities was $16B, while Canadian investment in foreign securities was $4.4B in February.
  • The housing price index for Great Britain was up 1.3% and 7.6% in month-over-month and year-over-year terms, respectively.


  • Oil tumbled by the most in two months after output talks Sunday between the world’s biggest producers ended without any agreement on limiting supplies, a diplomatic failure that threatens to renew the rout in prices.


  • The Canadian dollar took a mighty tumble, sliding along with other commodity-linked currencies as oil prices fell. Crude slumped, though gained back some ground, after the failure of several oil-producing nations to strike a deal that would freeze output levels. (Globe and Mail)

United States:

  • U.S. stock-index futures fell, following a weekly advance in equities, after talks between the world’s largest oil producers ended without a deal on freezing output.
  • PepsiCo Inc. posted first-quarter profit that beat analysts’ estimates after North American snack sales rose, helped by price increases.
  • com Inc. is starting a video-only subscription service to rival Netflix Inc., showing that the movie-streaming introduced five years ago as a customer retention tool has grown into a potentially lucrative stand-alone service.
  • Verizon Communications Inc. is the leading suitor for Yahoo! Inc. after a number of bidders decided not to make an offer for the struggling Web company, according to the Wall Street Journal.



  • Energy companies dragged European stocks to a second day of declines after talks between major producers ended in Doha without any agreement.
  • Coming off of an eight-year record for mergers and acquisitions, the U.K. just had its worst quarter for deals since 2010, according to data compiled by Bloomberg.
  • Immofinanz AG and CA Immobilien Anlagen AG plan to merge in a transaction that would create the biggest commercial property group in central and eastern Europe, following a hostile takeover battle that ended without a deal last year.
  • Vodafone Group Plc’s South African unit is considering a bid for unprofitable state-owned Internet company Broadband Infraco, as the country works toward the privatization of some government assets.
  • Asian stocks fell as oil talks failed to bring an agreement on limiting supplies, while Tokyo shares tumbled on a stronger yen and the impact of earthquakes that struck southern Japan.
  • Alibaba Group Holding Ltd.’s finance affiliate is planning an initial public offering on Shanghai’s main board in what could be China’s highest IPO valuation since 2010, according to two people familiar with the matter.

*All information is taken from Bloomberg, unless otherwise noted.