Financial

Investors should dip their toes in US$1T water market

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Investors searching for the next big theme to wrap their cash around might want to take a closer look at California’s ongoing water crisis, says Beijia Ma, a thematic investing strategist at Bank of the usa Merrill Lynch. The unprecedented drought in the Golden State, that is now in its fourth year, is expected to drive a US$1-trillion market opportunity ...

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Loonie falls further following big drop on Wednesday, stock markets close higher

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TORONTO – The loonie continued to slide on Thursday, reaching its minimum since March 2009 after losing more than a cent against the greenback following the Bank of Canada\’s rate cut on Wednesday. The Canadian dollar declined 0.3 of the cent to shut at 77.10 cents U.S. on the day after the central bank cut a quarter-point from the benchmark ...

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Why there’s no bubble in biotech

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Investors looking for proof of how hot biotech stocks are these days don’t need to look beyond Valeant Pharmaceuticals International Inc., that has quickly become Canada’s best company having a market cap of $115 billion. Venture capital investors are flocking to burgeoning biotech startups The biotech industry and it is investors this week anxiously awaited the clinical test outcomes of ...

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Is this the beginning of the end for dividend ETFs?

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Dividend ETFs are on fire, and not in a great way. Exchange-traded funds that use a variety of strategies to invest in dividend-paying stocks happen to be a no-brainer because the financial crisis, as income investors have confronted artificially low interest rates. But after many years of inflows that swelled assets to US$100 billion, dividend ETFs have experienced an outflow ...

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Teva Pharmaceutical Industries to buy Allergan Plc’s generic drug business for US$40.5 billion, drops Mylan bid

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TEL AVIV – Teva Pharmaceutical Industries has agreed to buy Allergan Plc\’s generic drugs business for US$40.5 billion in a cash and stock deal which will turn the Israeli company into one of the world\’s largest pharmaceutical firms. The deal, the biggest in Israel\’s corporate history, prompted Teva to drop its US$40-billion hostile bid for Mylan , which had hit ...

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Canadian National Railway Co upgraded after strong Q2 earnings

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Canadian National Railway Co. was upgraded to purchase from hold at Canaccord Genuity after its second-quarter results exceeded analysts’ estimates. The gains were driven in large part by the company’s rapid cost reductions in response to a downturn sought after – something analysts didn’t see happening so quickly. Canaccord analyst David Tyerman, who also raised his price target on CN ...

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Takeover battle possible for SilverCrest Mines

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Canada’s silver mining sector got some much-needed consolidation on Monday, as First Majestic Silver Corp. announced a friendly $154-million takeover bid for SilverCrest Mines Inc. Desjardins Capital Markets analyst Michael Parkin thinks this all-stock deal is accretive and logical for First Majestic. By his calculation, SilverCrest’s Santa Elena mine in Mexico generated free income of US$2.99 per ounce of silver ...

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Torstar Corp downgraded as dividend cut expected

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Torstar Corp. was downgraded to reduce from hold at TD Securities after its first-quarter results demonstrated that its core business is constantly on the languish and it made a $200-million investment in digital media company VerticalScope Holdings. Analyst Bentley Cross noted that despite getting a 56-per-cent stake within the operator of online forums and internet sites such as AutoGuide.com, VerticalScope ...

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Home Capital Group Inc and the shortseller social network

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When Home Capital Group Inc. disclosed on July 10 it\’s terminating its relationship with a number of third-party lenders, a short-selling campaign exposed on the credit company. However the campaign’s epicentre wasn\’t lunch meetings and broker offices. It had been Twitter. For weeks, without much additional detail from the company, speculation ran wild on social media about what was behind ...

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TSX pares July loss as gold rallies, Wall Street mixed on oil earnings

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TORONTO – The Toronto Stock Exchange closed higher because the materials sector strengthened, even though there was a further decline in oil prices. The S&P/TSX composite index gained 85.66 suggests close at 14,468.44. In the U.S., the Dow Jones industrial average dropped 56.12 points to 17,689.86, while the Nasdaq edged back 0.50 points to 5,128.28 and the S&P 500 fell ...

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