Markets

Why aren’t markets freaking out more about the Greek crisis?

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These three things are true: Five scenarios for Greece within the coming days A missed payment by Greece (the country must pay the International Monetary Fund US$1.7 billion by Tuesday night) isn\’t necessarily the end of the world. Here\’s a take a look at five ways in which the Greece scenario could engage in this week. Continue reading. The likelihood ...

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Sobeys to cut 1,300 back office jobs as new distribution centres open

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STELLARTON, N.S. – The Sobeys grocery business expects to get rid of 1,300 jobs within the next year or two because it moves to open new distribution centres in Ontario and Alberta and is constantly on the integrate Safeway Canada\’s operations. The head of Sobeys parent company told analysts in a quarterly business call Thursday that the jobs cuts will ...

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Catalysts that could drive Facebook Inc’s share price higher

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Facebook Inc. has already paid off handsomely for investors since making its market debut this year, but the social networking giant doesn\’t have shortage of catalysts to help drive its stock price even higher within the next 12 months, says Neil Doshi, analyst at Mizuho Securities USA. “FB is evolving into a true platform where people are spending additional time ...

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How much of a risk is an earnings recession for U.S. stocks?

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Is Corporate America at risk of an earnings recession? Barclays Capital predicts that earnings at S&P 500 companies will shrink within the second quarter, with analysts expecting earnings per share for the 350 companies on the index to shrink by an average of 3.8 per cent. “Financial performance, as measured by revenue growth and earnings per share growth, isn\’t expected ...

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Why lifecos are underappreciated by investors

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Canada’s life insurance stocks remain underappreciated by investors despite significant efforts to improve efficiency and productivity over the industry, says Charles Marleau, president and senior portfolio manager at Palos Investment Funds in Montreal. “The market is not pricing within the improved earnings quality, strong capital ratios, growing Asian operations and wealth management business,” Marleau said inside a commentary to clients. ...

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Chinese stocks are getting smashed and Morgan Stanley says don’t buy the dip

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China stocks on Friday posted some of their worst losses in seven years, as investors stampeded out of a market amid increasing signs the nation\’s eight-month-long bull run is not having enough fuel. The key CSI300 index fell 7.9 per cent, to 4,336.19, as the Shanghai Composite Index lost 7.4 percent, to 4,192.87 points. For the SSEC,? it was the ...

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Why the Bank of Canada’s ’emergency surgery’ rate cut didn’t work

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For months now, Bank of Canada Governor Stephen Poloz as well as an accompanying chorus of economists happen to be predicting that the second quarter would be turnaround time. \’R\’ word returns to haunt Canada as economy does not shake off oil price plunge Data out this week showed the damage of oil’s collapse is deeper than many thought, raising ...

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Loonie overvalued by 10%, dragging on Canadian growth: CIBC

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CIBC World Markets says the loonie has been overvalued by 10 per cent since the recession, that has saddled Canadians using the equivalent of a 90 basis point higher interest rate from the Bank of Canada. “Oil\’s tumble has brought the Canadian dollar down with it,” said Nick Exarhos and Avery Shenfeld, economists at CIBC World Markets. “But our currency ...

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Whether Greece leaves the eurozone or not, the country is headed for even more pain

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Greece is supposed to spend the money for International Monetary Fund (IMF) almost 1.6-billion euros by next weekend. It\’ll almost certainly miss that payment. Its hopes of securing an extension of bailout funding in the IMF, European Union and European Central Bank are nearing zero. That mark is going to be hit unless Greece and it is creditors somehow snatch ...

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Is there a huge investing opportunity in the oil markets?

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A rare occurrence now happening on oil markets may well be a huge opportunity for investors who play it right, says Tim Pickering, president and chief investment officer at Auspice Capital Advisors Ltd. Pickering said Canadian crude prices are currently in “backwardation,” which means the future prices are expected to be less than the spot price, but every other crude ...

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