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Mark Blinch - 1 Verecan - 1 Colin White - 1 Dave McKay - 1 Mike Archibald - 1 Nivedita Balu - 1 Mark Porter - 1
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☆ Canadian banks prepare for shaky economy, more bad loans
  + stars: | 2023-12-04 | by ( Nivedita Balu Arasu Kannagi Basil | Nivedita Balu | Arasu Kannagi Basil | ) www.reuters.com   time to read: +3 min
The moon rises over the Toronto city skyline as seen from Milton, Ontario, Canada, January 23, 2016. REUTERS/Mark Blinch/File Photo Acquire Licensing RightsTORONTO, Dec 4 (Reuters) - Canadian banks had a mixed fourth quarter but a common theme underlining all the reports was the rise in bad loan provisions, signalling that lenders were strapping in for a shaky economy. Impaired loans related to residential mortgages, real estate and construction were also higher from the prior quarter, indicating that the banks were also being cautious when considering underwriting new loans. He noted that despite the mixed results, the banks reported healthy capital levels, giving investors assurance that the banks remain resilient. Reuters Graphics($1 = 1.3559 Canadian dollars)Reporting by Nivedita Balu in Toronto; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.
Persons: Mark Blinch, Verecan, Colin White, Dave McKay, Mike Archibald, Nivedita Balu, Mark Porter Organizations: REUTERS, Rights, Reuters, Bank of Canada, BOC, Royal Bank of Canada, CIBC, National Bank, Scotiabank, BMO, RBC, Reuters Graphics Reuters, AGF Investments, Reuters Graphics, Thomson Locations: Toronto, Milton , Ontario, Canada
☆ TSX rises to three-week but caution remains on rate outlook
  + stars: | 2023-03-29 | by ( Fergal Smith | ) www.reuters.com   time to read: +2 min
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 180.12 points, or 0.9%, at 19,837.65, its fourth straight day of gains and its highest closing level since March 9. "Discretion is the better part of valor," said Joseph Abramson, co-chief investment officer at Northland Wealth Management, quoting the well-known proverb. Information technology rose 1.5% as bond yields steadied, while both energy and heavily weighted financials advanced 1%. Dollarama Inc (DOL.TO) shares added 2.5% as the company reported a surge in same-store sales. The utilities sector, which includes some renewable energy companies, was up 1.1%.
☆ Energy stocks push TSX higher, Dollarama climbs
  + stars: | 2023-03-29 | by ( Johann M Cherian | ) www.reuters.com   time to read: +2 min
SummarySummary Companies Enbridge gains on rating upgradeDollarama climbs on quarterly sales beatTSX up 0.8%March 29 (Reuters) - Canada's main stock index extended gains on Wednesday, helped by energy stocks, while discount store chain Dollarama advanced after posting quarterly revenue above estimates. Dollarama Inc (DOL.TO) rose 1.2% and hit a two-month high after the discount store chain also reported a surge in same-store sales. The consumer discretionary sector index (.GSPTTCD), housing the stock, added 0.9%. Archibald added that renewable names like Northland Power (NPI.TO) and Ballard Power Systems (BLDP.TO) would stand to benefit from the credits provided to encourage more investment in green technology. Northland Power (NPI.TO) was down 0.2%, while Ballard Power Systems (BLDP.TO) surged 2.6%.
☆ TSX dragged to over one-month low by tech, commodity-linked stocks
  + stars: | 2022-12-15 | by ( Shashwat Chauhan | ) www.reuters.com   time to read: +2 min
[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. ET (1513 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 295.24 points, or 1.48%, at 19,596.41. All sectors declined, led by materials (.GSPTTMT), which sank 2.2% to an about two-week low as gold prices toppled against a stronger dollar. Meanwhile, Canadian housing starts edged lower in November compared with the previous month as a drop in single-detached urban starts offset groundbreaking in multiple unit urban homes, data from the national housing agency showed on Thursday. Reporting by Shashwat Chauhan in Bengaluru; Editing by Anil D'Silva and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
☆ TSX notches 5-month high as tech and industrials climb
  + stars: | 2022-11-23 | by ( Fergal Smith | ) www.reuters.com   time to read: +2 min
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 62.25 points, or 0.3%, at 20,282.26, its highest closing level since June 9. Wall Street also gained ground after minutes from the Fed's November meeting showed interest rate hikes may slow soon. The industrials sector, which includes railroad and airline stocks, rose 0.4%, while technology ended 1.9% higher. It was boosted by a 22.6% jump in shares of Converge Technology Solutions (CTS.TO) after the company commenced a strategic review process, including evaluations on a possible sale, merger or divesture. Reporting by Fergal Smith; Additional reporting by Johann M Cherian in Bengaluru; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.
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