Chances of Bank of Canada interest rate cut sit at 35%, says RBC’s Eric Lascelles


Chances the Bank of Canada will cut interest rates in the next couple of months are about one in three as a weaker currency does not boost exports and companies continue to grapple with lower oil prices, according to Eric Lascelles. Loonie overvalued by 10%, dragging on Canadian growth: CIBC CIBC World Markets says the loonie continues to be overvalued ...

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Boom, bust, repeat: China’s US$8 trillion equity market is behaving like a penny stock


It looks like the cost chart of the over-the-counter penny stock: dizzying gains, abrupt U-turns, harrowing declines. If you believe Greece is bad, China could actually be a much bigger problem China\’s equity markets happen to be taking a real whacking for a while now, as a result. That\’s disquieting enough. Yet the actual concern is any knockdown effect within ...

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Canada is already in a recession, says Bank of America, and the loonie is set to get hammered


Bank of America Merrill Lynch is just about the first bank to for a Canadian recession this year. \’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 fears that we\’re slipping into recession and speculation the Bank of ...

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Quebecor Inc.’s unused spectrum licences could fetch a lot of cash


Quebecor Inc.’s unused spectrum licences in?Ontario, Alberta and B.C. could fetch as much as five times the purchase price in a sale to some deep-pocketed larger carrier, estimates one Bay Street analyst. Vince Valentini at TD Securities Inc. increased his book valuation from the company’s non-Quebec airwaves to $800 million from $297 million, and said the market value might be ...

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China is having its biggest stock meltdown since 1992, but Goldman Sachs still predicts a 27% rally


China\’s biggest stock-market rout since 1992 has done nothing to erode the bullish outlook of Goldman Sachs Group Inc. Greece, China and oil troubles are adding up to some world of catastrophe for investors Joe Chidley: It appears as though things have taken a turn for that worse for investors as Greece’s financial crisis flares, China’s stock market bubble bursts ...

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Greece, China and oil troubles are adding up to a world of catastrophe for investors


In ancient Greek tragedy, there was always a point where events took a turn for that worse. Things seemed to be going well, the hero was on his way up, and then, poof, it was gone. Mayhem and misfortune followed. Investors these days might be wondering if they haven\’t reached that inflection point, too. This is not only because of ...

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First Greece, then Janet Yellen — markets had a great day!


U.S. stocks rose amid optimism that proposals Greece listed in its creditors will create a bailout, and Fed Chair Janet Yellen said she still expects to raise interest rates this season. In New York, Dow Jones industrial soared 211.79 points to 17,760.41, even though the widely watched index ended a few days only slightly above where it started. The Nasdaq ...

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David Rosenberg: Another reason Toronto’s real estate market may keep defying skeptics


Well, well, the big bet from the Canadian housing market, especially in the Greater Toronto Area, has still didn\’t take hold. Yet this is the primary reason U.S. hedge funds have reportedly been adding to their short positions on Canadian bank stocks. Home sales nationwide hit a five-year full of May, with average resale prices up eight percent, led by ...

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Valeant Pharmaceuticals International Inc expands in Middle East with $800-million purchase of Amoun


LAVAL, Que. – Valeant Pharmaceuticals International, Inc. said it will buy a significant Egyptian pharmaceutical company for about US$800 million as a platform for further expansion in the centre East and North Africa. The Quebec-based company reported?Friday?it features a definite agreement to purchase Amoun Pharmaceutical from Mercury (Cayman) Holdings. Valeant CEO?Michael Pearson said he hopes the organization will be able ...

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Why BlackRock is balancing lower-risk plays with upside hedges


Risk is everywhere on capital markets, from lofty valuations and uncertainty within the U.S. Fed tightening to the crisis in Greece and China’s equity market blow-up, but positive returns continue to be to be had for investors who are selective using their holdings, says a brand new report in the world’s largest asset manager. “We balance this using the knowledge ...

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