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☆ Canadian banks see earnings risk from commercial property loans, TD in focus
▼ + stars: | 2023-05-22 | by ( Nivedita Balu | ) www.reuters.com time to read: +4 min

TORONTO, May 22 (Reuters) - Canadian banks are expected to report a rise in bad debt provisions and highlight risks from commercial property loans when they report earnings this week, with the country's No.2 bank TD (TD.TO) in focus after its acquisition of First Horizon (FHN.N) failed. Bay Street analysts have lowered their second quarter earnings expectations for Canadian banks, anticipating higher expenses and slowing loan growth as turmoil south of the border weighs on the broader banking sector. Still, investors view Canadian banks as safer bets than their U.S. counterparts due to their strong capital levels. BMO and Scotia Bank (BNS.TO) are due to report earnings on Wednesday, while TD, Canadian Imperial Bank of Commerce (CM.TO) and Royal Bank of Canada (RY.TO) report on Thursday. Canadian bank stocks have largely underperformed TSX Canadian bank stocks have largely underperformed TSXEmpty offices in big cities have raised concerns among investors about banks' commercial property loan exposure, since about 10% of the lending portfolio of the Big-6 banks is tied to commercial real estate.

☆ TSX tumbles after hotter-than-expected inflation data
▼ + stars: | 2023-05-16 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

A report by Statistics Canada showed that April annual consumer inflation had surprisingly ticked up, fueled by higher rental and mortgage interest costs. "Underlying core inflation is settling in around 4%, which is clearly still too high for the BoC's comfort." ET (14:14 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 235.32 points, or 1.15%, at 20,304.65. The materials sector (.GSPTTMT) tumbled 1.4% and was the biggest drag on the TSX, tracking weak base- and precious-metal prices. Reporting by Johann M Cherian and Vansh Agarwal in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

☆ TSX notches 6-week high as investors cheer US bank earnings
▼ + stars: | 2023-04-14 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) rose 15.42 points, or 0.1%, to 20,579.91, its highest closing level since March 3. "Good bank earnings out of the U.S. spilled over into Canada," said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth. Canadian banks had been pressured in recent weeks by the banking stress in the United States and Europe. The Toronto market's heavily-weighted financials sector added 0.2%, while energy was up 0.3% as oil added to recent gains. Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

ET (1413 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 26.71 points, or 0.13%, at 20,591.2. The heavily-weighted financials sector (.SPTTFS) added 0.4%, mirroring gains in big U.S. banks. "The read through to Canada is largely from the banks (in the U.S.) because the banks comprise about 20% of the weight of the Toronto Stock Exchange," said Brian Madden, chief investment officer at First Avenue Investment Counsel. "It is good news for the Canadian banks in general because they have operations in the United States, so that should bode well for their results in their US operations." Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

☆ TSX futures gain on oil boost; big US banks jump
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

April 14 (Reuters) - Futures for Canada's commodity-heavy stock index edged up on Friday, tracking a rise in crude prices, while upbeat earnings from big U.S. banks supported optimistic investor mood. June futures on the S&P/TSX index were up 0.2% at 7:00 a.m. Wall Street futures slipped as most growth and technology stocks were down in premarket trading, while robust earnings from big U.S. banks, including JPMorgan Chase & Co (JPM.N) and Wells Fargo & Co (WFC.N), limited losses for futures tracking S&P 500 (.SPX). The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) rose on Thursday to its highest closing level in nearly six weeks, buoyed by strength in gold miners. In company news, Scotiabank downgraded oil and gas company Cenovus Energy Inc (CVE.TO) to "sector perform" from "sector outperform."

TORONTO, April 9 (Reuters) - Canada's move to expand the investment tax credit for mining companies to align it with policies in the United States is accelerating funding talks for critical miners, company executives told Reuters. Prime Minister Justin Trudeau's government proposed a 30% investment tax credit for expenses related to the exploration of critical minerals in the latest budget announced last month. This incentive also covers investors planning to buy shares in certain critical mining companies such as those in the exploration of lithium brine. Several junior mining companies in western Canada are optimistic about the fund raising prospects and are in talks with banks for financing, Doornbos added. "These measures do level the playing and put us in a stronger position," said Pierre Gratton, CEO of the Mining Association of Canada.

☆ TSX pads quarterly gain as interest rate concerns ease
▼ + stars: | 2023-03-31 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 158.90 points, or 0.8%, at 20,099.89, its highest closing level since March 8. For the month, the TSX lost 0.6% as global banking turmoil led to a selloff in heavily-weighted financials and volatility in the price of oil. It was up 3.7% in the first quarter of the year but trailing a gain of 7% for U.S. benchmark the S&P 500. It was up 2.4%, helped by a 14.4% jump in the shares of Blackberry Ltd <BB.TO> after the company reported quarterly results. Shares of Shaw rose 3.3%, while Rogers was down 2.9%.

☆ TSX rises as domestic economy outperforms; Rogers slides
▼ + stars: | 2023-03-31 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

[1/2] A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. of 0.3%TSX up 0.6%March 31 (Reuters) - Canada's main stock index edged up on Friday as investor sentiment gained steam after data showed the domestic economy grew more than expected in January. A Statistics Canada report showed that the Canadian economy performed better-than-expected in January versus December, driven by broad gains in both goods and services industries. ET (1410 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 130.39 points, or 0.65%, at 20,071.38. "The strength in January is consistent with an economy that remains resilient," said Angelo Kourkafas, investment strategist at Edward Jones Investments.

☆ TSX rises for fifth day as Filo Mining gains
▼ + stars: | 2023-03-30 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

ET (14:11 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 55.48 points, or 0.28%, at 19,893.13. Filo Mining Corp (FIL.TO) shares rose 4.8% after CIBC started the coverage of the miner with an "outperform" rating and a target price of C$38. Canadian equities are set to end the first quarter at 3% higher if gains hold. "Things are feeling a lot better than they did a few weeks ago, so people are allocating back to equities heading into quarter end," said Greg Taylor, chief investment officer at Purpose Investments. After a recent spike in investor concerns about a financial meltdown, banks (.GSPTXBA) are set to end the quarter down more than 1%.

☆ 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%.

☆ Energy, industrial stocks lift TSX; Lundin Mining jumps
▼ + stars: | 2023-03-28 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

"But here it seems the market likes the deal and is giving a thumbs up with respect to the acquisition." ET (14:10 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 61.34 points, or 0.31%, at 19,686.08. Energy stocks (.SPTTEN) added 0.8%, tracking oil prices amid supply disruption risks from Iraqi Kurdistan. Still, the bourse is up for the quarter underpinned by gains from January as equities bounced back from previous year's losses. Reporting by Johann M Cherian in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ TSX opens week higher as banking crisis fears ebb
▼ + stars: | 2023-03-27 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

ET (14:03 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 62.9 points, or 0.32%, at 19,564.39. "First Citizens' announcement of the acquisition of Silicon Valley Bank instilled a broad sense of confidence and calm in the stability of the banking system." The energy sector (.SPTTEN) added 0.3%, tracking strength in crude oil prices. If gains hold, the TSX is on course to eke out a gain of 0.9% for the quarter ending in March. Reporting by Johann M Cherian in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ TSX falls, set for weekly losses as banking sector worries rise
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: 1 min

March 24 (Reuters) - Canada's main stock index tumbled on Friday and was set for weekly losses, weighed down by energy and financial stocks as turmoil in the European banking sector soured market sentiment. At 9:34 a.m. ET (13:34 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 100.75 points, or 0.52%, at 19,359.17. Reporting by Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 72.86 points, or 0.4%, at 19,459.92, preliminary data showed. The energy sector fell 1.8% as the price of oil settled 1.3% lower at $69.96 a barrel. Oil fell after U.S. Energy Secretary Jennifer Granholm told lawmakers that refilling the country's Strategic Petroleum Reserve (SPR) may take several years. Heavily weighted financials were down 0.7% as concerns about the global banking sector lingered following interest rate hikes by the Swiss National Bank and the Bank of England. Bombardier shares ended up 2.8% after the company raised its 2025 revenue and free cash flow targets at its investor day, banking on strong demand for private flights.

☆ TSX futures edge higher as bullion prices gain
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

March 23 (Reuters) - Futures for Canada's main stock index were slightly up on Thursday as bullion advanced but lower crude oil prices kept a lid on gains for the commodity-heavy bourse. March futures on the S&P/TSX index were up 0.2% at 7:11 a.m. Crude oil prices fell on fears of weakening demand, while safe-haven assets like gold rose. ETGold futures : $1,980.9; +1.6%US crude : $70.28; -0.8%Brent crude : $76.19; -0.7%U.S. ECONOMIC DATA DUE ON THURSDAYInitial Weekly Jobless Claims due at 8:30 a.m. ETFOR CANADIAN MARKETS NEWS, CLICK ON CODES:TSX market reportCanadian dollar and bonds report CA/Reuters global stocks poll for Canada ,Canadian markets directory($1 = 1.3681 Canadian dollars)Reporting by Johann M Cherian in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ TSX gains as commodity-linked stocks rise, Bombardier soars
▼ + stars: | 2023-03-23 | by ( Johann M Cherian | ) www.reuters.com time to read: +1 min

SummarySummary Companies Capstone copper slumps on secondary offeringBombardier rises to TSX top on upbeat 2025 targetsTSX rises 0.5%March 23 (Reuters) - Canada's key stock index edged higher on Thursday as mining and energy stocks advanced, with gains in Bombardier after its upbeat targets for 2025 also supporting the benchmark. ET (14:31 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 105.09 points, or 0.54%, at 19,637.87. The collapse of two mid-sized U.S. lenders in March had triggered a selloff in the financials-heavy TSX as investors lost confidence in the global banking system. Still, on a quarterly basis, TSX is up 1.4%, clinging to early gains from January when investors returned to battered markets from 2022. Capstone copper corp (CS.TO) was the top loser on the index after the copper miner announced a bought secondary deal offering of C$285 million.

☆ TSX futures crawl higher ahead of Fed meet decision
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

March 22(Reuters) - Futures for Canada's main stock index edged up on Wednesday tracking gains in bullion prices, as investors awaited the U.S. Federal Reserve's verdict on further monetary tightening. The Fed is expected to deliver quarter of a percentage-point rate hike at 2 p.m. March futures on the S&P/TSX index were up 0.2% at 7:05 a.m. Gold prices added shine as investors rushed to the safe-haven asset ahead of the Fed's rate decision announcement. ET, while S&P 500 e-minis were up 2.75 points, or 0.07% and Nasdaq 100 e-minis were down 7.75 points, or 0.06%.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 131.71 points, or 0.7%, at 19,519.43, preliminary data showed. The financial sector (.SPTTFS), which accounts for nearly 30% of the TSX, added 0.5%. Energy was up 2.9% as oil rebounded from a 15-month low. The materials sector, which includes precious and base metals miners and fertilizer companies, gained 0.8%. Reporting by Johann M Cherian in Bengaluru; Editing by Pooja Desai and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Commodity-linked stocks push TSX higher
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: 1 min

March 20 (Reuters) - Canada's main stock index edged higher on Monday, aided by gains in the energy and materials sectors, as investors returned to markets plagued by uncertainty in the global financial sector. At 9:32 a.m. ET (13:32 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 33.55 points, or 0.17%, at 19,421.27. Reporting by Johann M Cherian in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ TSX set to commence week slightly higher
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +2 min

March 20(Reuters) - Futures for Canada's main stock index edged higher on Monday, aided by gains in the prices of safe-haven assets like bullion, as investors returned to markets plagued by uncertainty in the global financial sector. March futures on the S&P/TSX index , which tracks commodity prices, were up 0.3% at 7:10 a.m. Later in the week, investors also await February domestic consumer inflation data and January retail sales data. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended 0.7% down on Friday and hit its lowest weekly levels this year, weighed down by financials. ET, while S&P 500 e-minis were up 2.25 points, or 0.06%, and Nasdaq 100 e-minis were up 2.5 points, or 0.02%.

☆ Financials drag TSX at open
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: 1 min

March 17 (Reuters) - Canada's main stock index fell at the open on Friday, dragged down by losses in financial stocks as fears of a global banking meltdown continued to spook investors. At 9:31 a.m. ET (1331 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 87.72 points, or 0.45%, at 19,451.29. Reporting by Shashwat Chauhan in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

☆ Credit Suisse fears hit Toronto's main stock index
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +2 min

TORONTO, March 15 (Reuters) - Canada's main stock index fell 1.6% on Wednesday, dragged down by energy and financial stocks as Credit Suisse spooked world markets, renewing concerns of a banking crisis. By provisional close on Wednesday, the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 315.32 points at 19378.84, its worst day since December 2022. Canadian financial stocks (.SPTTFS) fell 1.9% on Wednesday, mirroring global financial stocks in falling once again, following a brief relief rally on Tuesday, as Credit Suisse (CSGN.S) hit a record low after the Swiss lender's biggest backer said it would not buy any more shares. Brent crude fell 4.1% to $74.26 a barrel. The Toronto market's industrials and utilities sectors escaped the losses on Wednesday, up 0.8% and 0.2% respectively.

☆ Toronto stocks join global selloff as Credit Suisse sparks concerns
▼ + stars: | 2023-03-15 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

March 15 (Reuters) - Canada's resources-heavy main stock index fell on Wednesday, dragged by energy and financial stocks, as Credit Suisse's turbulence sparked renewed concerns of a banking crisis. Global financial stocks slumped once again after a brief relief rally on Tuesday as Credit Suisse (CSGN.S) hit a record low after the Swiss lender's biggest backer said it would not buy any more shares. Energy stocks (.SPTTEN) were the top decliners, falling 5.7%, as oil prices extended losses with Brent crude hitting a three-month low. Financials (.SPTTFS), Canada's largest sector by weight, joined a global selloff in bank stocks, falling 2.2%. Canadian stocks have lost nearly all of their yearly gains in the last few days, with the index now at par after the collapse of U.S. lenders SVB and Signature sparked contagion concerns in global financial stocks.

☆ TSX set for worst week in five months as rate hike worries mount
▼ + stars: | 2023-03-10 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

ET (1527 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 132.38 points, or 0.66%, at 19,954.34. The rate-sensitive financials sector (.SPTTFS) slumped 1.4% to a two-month low, while banks (.GSPTXBA) fell 1.3%. Across the border, U.S. stock indexes fell on a selloff in bank shares after SVB Financial's efforts to raise capital sparked worries about the sector's health. Among company news, Bank of Montreal (BMO.TO) shed 1.2% after it said it would acquire Loyalty Ventures' (LYLT.O) subsidiary's rewards program AIR MILES for an undisclosed amount. Loyalty Ventures fell 54.2% in U.S. trading.

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