Credit Suisse top energy stock picks include two Canadian companies

Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow Like Scotiabank Monday, Credit Suisse analyst Manav Gupta thinks now is the time to add energy stocks. Mr. Gupta also provided a list of top picks which includes two Canadian stocks, “We continue to believe that in a post Russia-Ukraine … Read more

Friday’s analyst upgrades and downgrades

Inside the Market’s roundup of some of today’s key analyst actions Saputo Inc. SAP-T continues to face serious pressures in the form of labor shortages, supply chain disruptions, and inflation, but the stage for a recovery over the coming year, Scotia Capital analyst Patricia Baker wrote. The company closed the books on a difficult fiscal … Read more

GDP disappoints, but Bank of Canada unlikely to alter rate path

Canada’s economic growth slowed in the first quarter of 2022, but an acceleration in demand showed why the Bank of Canada is unlikely to deviate from its course of rapid interest rate hikes. After adjusting for inflation, gross domestic product grew at an annualized pace of 3.1 per cent, slowing from 6.6 per cent in … Read more

Canada’s big banks grapple with rising expenses as inflation climbs

Bank towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010.Adrien Veczan/The Canadian Press Canada’s big banks are battling to keep a lid on rising costs that could eat into profits as they face pressure to keep growing revenue in the midst of mounting economic unease over the impact of … Read more

Canadian banks benefit from consumer spending rebound

As consumers open their wallets, the surge is pushing businesses to borrow and invest to meet that demand, which has helped drive up fees and interest income collected by banks.Christopher Katsarov/The Canadian Press Rebounding consumer spending and business investment are boosting profits for three of Canada’s largest banks as customers travel and dine out more … Read more

Bank of Canada 50-basis-point June 1 hike a done deal, economists say

The Bank of Canada will hike its overnight rate by 50 basis points on June 1, according to all 30 economists polled by Reuters, who see interest rates at least a half-point higher by year-end than predicted just one month ago. The BoC seems set to follow an aggressive path similar to that taken by … Read more

CIBC profit slips as weaker retail banking, bigger loan-loss provisions hit results

Canadian Imperial Bank of Commerce CM-T reported lower fiscal second-quarter profit and raised its quarterly dividend as weaker retail banking results, larger loan loss provisions and higher expenses dragged down earnings. After two rival banks reported profits on Wednesday, CIBC’s earnings per share was weaker than analysts expected, even as revenue rose 9 per cent … Read more

Bankers buck gloomy trend by forecasting growth amid concerns about economic slowdown

Bank of Montreal reported a modest increase in second-quarter profit on Wednesday.Nathan Denette/The Canadian Press Top executives at two major Canadian banks predict they can keep adding new loans and increasing profits in the coming quarters, offering an optimism outlook for the financial sector that is at odds with economists’ gloomy forecasts of a downturn … Read more

Why long-term investors shouldn’t sweat the rout in REITs

Why are real estate investment trusts such as Canadian Apartment Properties REIT (CAR.UN) down so much? Are rising interest rates the only reason? If so, we are in for a long, rough ride. Could you please comment on this? It’s important to put CAP REIT’s drop in perspective. Yes, the units have tumbled about 22 … Read more

Canada’s banking regulator to tighten mortgage-HELOC rules to curb rising homeowner debt

Houses for sale in a new subdivision in Airdrie, Alta., Friday, Jan. 28, 2022. The Canadian Real Estate Association says the pace of home sales fell in April as mortgage rates moved higher. THE CANADIAN PRESS/Jeff McIntoshJeff McIntosh/The Canadian Press The trendiest type of home line of credit is in the crosshairs of Canada’s equity … Read more