Tuesday , March 2 2021

Before the Bell: What every Canadian investor needs to know today



Equity

Bank earnings are on the fore in Canada, with Bank of Nova Scotia Tuesday, mulling the earnings season for the country's largest lenders. Above the opening bell, Mr. Street's futures were slightly lower and followed the weakness in the world markets overnight. In Wall Street, US President Donald Trump said China expects to increase tariffs of $ 200 billion in imports from 25 per cent to 25 per cent, adding that the trade balance is also red.

The comments triggered global market optimism in the first days of the week, along with the entire country index of MSCI, and followed shares in 47 countries and remained at 0.1 percent per night.

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CMC Markets analyst David Madden said, larda Stock markets in Asia are overnight, despite the warnings of President Trump, that customers may face a tariff of 10 percent on notebooks and laptops imported from China. showed a slightly higher increase. "Mr. Trump also threatened to raise the tariff rate from 25 per cent to 25 per cent of Chinese imports worth $ 200 billion, and pledged to add additional tariffs, which only jumped in front of the G20 summit, but Trump & # 39; s known to be unpredictable.

Trump's latest comments were made in an interview with The Wall Street Journal, and a meeting was held this week between US President Xi Jinping and the US President at the G20 summit in Argentina. Apple shares fell by nearly 2 percent in premarket transactions, as suggested by the iPhone's tariffs.

On Bay Street, Scotiabank was the top banker in Canada to report his latest results, reporting a jump in fourth-quarter profit. The bank is worth $ 2.27 billion, or $ 1.71 – $ 2.07 billion, or $ 1.64, over the previous year. reported a profit. On a set basis, the Bank of Nova Scotia, starting from $ 1.65 a year earlier, was $ 1.77 & # 39; earnings per share reported. Analysts were looking for adjusted earnings per share of $ 1.79 per IBES from Refinitiv. The bank also said it plans to depart from nine countries in the Caribbean and is planning a new job in the region.

The earnings are also from the Quebec retailer Alimentation Couche-Tard Inc. recently.

In Wall Street, a number of Federal Reserve officials will talk. Fed vice-president Richard Clarida makes the opening statement at a conference in New York. In addition, the three Fed presidents are scheduled to participate in a panel discussion during the day. Later in the week, Fed president Jerome Powell is expected to speak at an event at the New York Economic Club.

In overseas, commercial concerns began in Europe with the European STOXX 600, which fell 0.38% in Europe. The FTSE 100 in London fell to 0.27 percent. Shares of travel company Thomas Cook have shrunk by 33 percent after cutting the profit forecast and suspending its dividend. In Germany, DAX declined by 0.36 percent. France's CAC 40 fell 0.27 percent.

The Asian markets session found Japan's Nikkei mostly positive by adding 0.64 percent. The wider Topix increased by 0.14 percent. Shanghai Composite Index declined by 0.04 percent, while Hong Kong's Hang Seng rose 0.17 percent.

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Commodity

Crude oil prices rose slightly, but still reached the lowest level of the year. Rising production is somewhat offset by the expectation that OPEC and its allies will reduce output in a meeting next month. At the final check, Brent kept crude oil above US $ 60 and had a range of US $ 59.50 to US $ 61.15. West Texas Intermediate was also positive and had a share of US $ 50.70 and US $ 51.93.

On Monday, prices returned by about 3 percent after falling by more than 6 percent on Friday. However, the gains this week were raised by reports that Saudi Arabia's high-performance record in November reached 11.1 million barrels or 11.3 million barrels per day.

And Record production from Saudi Arabia is the last thing this market needs right now, a said Jasper Lawler, head of research at London's Capital Group. Ü The over-demand concerns, along with fears of slowing demand, saw that the correction of an oil price turned into an oil flow into epic proportions. We return to past days, when the next OPEC meeting is monitored at a density level that has not been seen since 2016. "

The next OPEC meeting is scheduled for December. Saudi Arabia is one of the manufacturers that has been pressuring for production cuts.

New US inventory data will also be available after Tuesday and may have an impact on prices.

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”Later on the API (American Petroleum Institute) inventory number could lead to more misery if another important structure was reported on Brent and WTI, although I still find myself questioning whether the seller is overly exaggerated under these conditions,“ he said. analyst Craig Erlam said. ”The market shows that prices are due to no interruption or just a small price, which indicates that oil prices may be prone to a short congestion.“

Meanwhile, gold prices have reached their lowest level in a week. Mr. Trump's comments on the tariffs rose to a higher level than the US dollar. Spot gold rose to $ 0.223.75 per ounce on morning purchases in Europe after reaching its lowest level since November 19. Gold futures in the US rose by 0.1% to $ 1.223.70 per ounce.

Currencies and bonds

The Canadian dollar didn't change clearly because of the change in crude oil prices outside North America and the US dollar reaching its best against the two-week group world currency. So far the day range in loonie was 75.34 US cents, 75.34 US cents.

3 On Friday Friday, Q3 is planning a significant outflow of GDP, bir said Elsa Lignos, RBC's global FX strategy leader. [the Canadian dollar] to monitor the risk background and wider movements [U.S. dollar] For short term directions. Ediy RBC estimates annual GDP growth in the third quarter of about 2 percent.

Meanwhile, the US dollar, He said Trump is uygulan extremely low u due to the increase in the US tariffs for Chinese goods. The US dollar index, which measures the dollar against the other six major currencies, rose by 0.2% to 97.28, the best level in nearly two weeks. Reuters said progress has been made in the previous two sessions, as the investor seeks safe haven for concerns over the power of the global economy.

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In the bonds, US investors fell because traders were waiting for comments from the Fed officials later in the session. The yield in the 10-year note was lower at 3.059 percent. The return in the 30-year note was also lower at 3.311 percent.

Ready to see stock

Thomas Cook The holiday operator lost a third of its value on Tuesday after halting profits for the second time in two months and suspending the dividend that was burned under the influence of a warm British summer and one-time charges. Thomas Cook, the world's oldest travel company, was damaged this year by a heat wave that swept across northern Europe and prevented holidaymakers to reserve last-minute deals and reduce their shares by 70 percent in 12 months. On Tuesday, in order to lower its operating profit once again, it updated the program two days ago and became 11 percent this time. He said that he did not violate the terms of the lending agreements and would continue to invest in the business. Shares in the company fell 33 percent, the first one open in London.

Tesla Inc.China's vehicle sales fell 70% year-on-year compared to the previous year, the country's passenger car associations told Reuters on Tuesday, stressing how the Sino-US trade battle has damaged the US electric car manufacturer. An official from the China Passenger Vehicle Association said the data from the industry showed Tesla sold only 211 cars in October in the world's largest automobile market. Reuters said Tesla has not responded to repeated calls and written requests for a meeting Tuesday. Importing all the cars sold in China, the electric car manufacturer, in October, the increase in auto import tariff increases in the sales there, he said. In July, the US imposed a customs duty of up to 40 per cent on imports of US automobiles with US deterioration of trade.

There has been a significant increase in the number of complaints reported to telecommunication providers in Canada, according to an annual schedule issued by the private sector organization assigned to resolve disputes brought by customers who have no direct satisfaction from their provider. 14.272 complaints in 2017-18 period by Canadian telecommunication and TV customers increased by 57 percent compared to the previous year, while the total number increased by 67 percent 30,734, Telecommunication Television Complaints Commission 1 August 2017 from 12 July to 31 July 2018 says in the report.

Globe's Andrew Willis announced plans for the merger of two of Greece's two largest financial institutions on Monday. Fairfax Financial Holdings Ltd For a rebound in the Greek economy. Eurobank, the third largest credit institution in Greece, plans to purchase the real estate investment company Grivalia Properties in a $ 866 million equity transaction. The deal significantly increased the capital of the bank and increased the share price on publicly traded companies on Monday. Eurobank shares rose 23.8 percent to 58.5 euros for the transaction, while Grivalia shares rose 10.6 percent to 7.93 euros.

Maple Leaf Food Inc. On Monday, he announced plans to build a $ 660 million poultry processing facility in Ontario. In this way, premium chicken products are expected to meet a growing appetite for rotating dishes. Maple Leaf, based in Mississauga, is building a 640,000-square-foot facility in the south of Ontario, and CEO Michael McCain said: inşa The best of our knowledge indeki is the most technically advanced facility in the world.

United Technologies Corp On Monday, he said he would leave for the three companies – aerospace, elevators and construction – that would create the latest industrial hold to sustain such a break. The decision followed the completion of this month's 30 million dollar avionics producer, Rockwell Collins, which United Technologies provided enough scale to the aviation industry as an independent company.

Read more:

Small-scale stocks to be monitored on Tuesday

Economy news

In September the US S & P Case-Shiller Housing Price Index (20 cities). The street expects an increase of 0.3 percent from August and a 5 percent year on year.

September 9, USA FHFA Home Price Index. Consensus is an increase of 0.4 percent from August and 5.9 percent on an annual basis.

US Conference Board Consumer Confidence Index for November (10 a.m. ET). Reconciliation is a reading of 136.1 down from 137.9 in October.

With Reuters and Canadian Press


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