Bank of Canada day! What you need to know before markets open


U.S. stock index futures were little changed on Wednesday as investors digest Federal Reserve Chair Janet Yellen\’s comments on raising rates of interest and await the end result of a Greek parliament vote around the terms of a third bailout. The Bank of Canada will announce its rate decision at 10 a.m. Fifteen of 29 economists surveyed by Bloomberg predict ...

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‘Don’t fight the Bank of Canada’: stocks may get a boost following rate cut


Investors are hoping that the Bank of Canada\’s rate cut on Wednesday will prove to add some life to Canada\’s moribund stock exchange. The S&P/TSX Composite is down 3.13 per cent in the past Twelve months, significantly underperforming the S&P 500, that has gained roughly seven per cent in that time. The index has been hammered with a collapse in ...

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Gildan Activewear downgraded ahead of Q2 earnings


Apparel company Gildan Activewear Inc. was downgraded on Wednesday from buy to hold by analysts at Desjardins Capital Markets. The Montreal-based company has witnessed its stock rally a lot more than 30 percent this year, which led to the downgrade, as Desjardins says the stock has become fairly valued. “We\’re revising our rating on Gildan to carry (from buy) according ...

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Home Capital Group shares sink after analyst downgrades


Home Capital Group Inc.’s shares dropped 19 per cent Monday morning, following the company reported that new single-family residential mortgages fell a lot more than expected in the second quarter. The holding company, which operates through mortgage provider Home Trust Co., was also downgraded by several analysts Monday on the disappointing figures. “We\’ve reduced our EPS estimates to reflect a ...

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Why David Wolf says now is not the time to abandon bonds


The threat of higher interest rates has been a persistent theme in the last few years that has many investors running scared from bond markets, but Fidelity Investments’ David Wolf doesn’t frighten simple and easy , isn’t ready to join the fleeing crowd just yet. Worst bond crash in almost 3 decades is early warning of turmoil to come The ...

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Switching from growth to value stocks


When growth is slowing, growth-oriented investing strategies are usually the most rewarding. So with earnings growth expected to decelerate in the coming two reporting periods, you’d think growth stocks would be the place to be. But Brian Belski, chief investment strategist at BMO Capital Markets, is creating a shift away from this approach towards value. While value stocks have outperformed ...

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Whistler Blackcomb may weather El Nino impact


El Ni?o is back and its drought and flood-making potential is anticipated to impact numerous sectors and companies around the world.But whether Whistler Blackcomb Holdings Inc., Canada’s world class ski resort, is one of them remains to be seen, says Theoni Pilarinos, analyst at Raymond James.“We are far from weather experts, but we returned and looked at Whistler\’s historical snowfall ...

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Sleep Country Canada Holdings Inc slumps in trading debut after $300-million IPO


Sleep Country Canada Holdings Inc., the nation\’s largest mattress retailer, fell in its trading debut after raising $300 million (US$232 million) within an initial public offering. Sleep Country slid 3.3 per cent to $16.44 at 1:20 p.m. in Toronto, down from the $17 IPO price. The shares traded as low as$16.24. \”It\’s a lesson to be learned,\” said David Cockfield, ...

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Goldman Sachs had a great quarter … if you ignore legal costs


Goldman Sachs reported second quarter earnings on Thursday that came in stronger than expected… if you ignore legal costs. The bank reported earnings per share of $1.98 on revenue of $9.07 billion. Excluding attorney\’s fees, adjusted earnings per share were $4.75. Analysts were expecting adjusted earnings per share of $3.97 on revenue of $8.77 billion, according to Bloomberg. “While uncertainty ...

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Tumbling Euro helps hedged ETFs attract most cash in two months


The falling euro is proving a benefit for exchange-traded funds that hedge currency risk. With the euro slumping to its lowest since May, investors last week directed the most money in two months in to the three largest U.S. ETFs that purchase stocks across Europe and control currency fluctuations. Traders are reviving bets on euro weakness as questions regarding the ...

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