Oil markets await non-OPEC deal... Global inflation set to rise following Chinese PPI...
Another volatile day for oil prices may have hit energy stocks again today but the big news was in retail where Hudson’s Bay announced a real estate deal and also in the financial sector where RBC announced strong results.
Hudson’s Bay Co today announced two real estate partnerships which it says will unlock the potential of its property portfolio.
After yesterday’s disappointing results for BMO there was better news from the banking sector today with Royal Bank of Canada announcing first quarter net income of $2.46 billion.
Sears Canada reported that its fourth quarter revenue was down by 17.7 per cent from a year earlier to $972.5 million.
World markets mixed, Yellen speech viewed as more dovish... Oil demand is growing says Saudi minister... Apple to pay $532.9 million over iTunes copyright infringement... Housing market still ‘faltering’...
The Toronto Stock Exchange advanced on Tuesday morning as the Fed’s Janet Yellen spoke at Congress and said that when the bank stops using the word “patient” then rate rises will be more likely, but for now the US labour market is still a concern and therefore it is unlikely that any move in monetary policy will happen for at least two Fed meetings.
The governor of the Bank of Canada has spoken of the uncertainty of the economic climate and says that the bank is “managing” risks rather than “eliminating” them.
The Bank of Montreal announced its first quarter results today and revealed a net income of $1 billion, down 6 per cent from the same period last year.
Canada’s oilsands could lose around two-thirds of their income if oil prices remain low according to analysis from research firm Wood Mackenzie.
StatsCan has published data that shows a decline in operating profits for corporations of 2.8 per cent in the fourth quarter to $89.4 billion.