Tough times for Canadian mortgage stocks


Canadian mortgage companies continue to be a tough place to navigate for investors due to recent weakness throughout the economy stemming from the pullback in energy, as well as high housing activity and value growth in several key markets. The sector has significantly underperformed the broader financial space to date in 2015, reflecting cautious sentiment toward Canadian housing in general, ...

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Will the Bank of Canada have to start looking at QE soon?


There is a new debate brewing in Canadian economic circles following last week\’s rate of interest cut: will the Bank of Canada need to start considering bringing out the monetary bazooka? The debate about unconventional policy measures, which include quantitative easing – the very same tool the U.S. Federal Reserve deployed within the years after the financial crisis -?is heating ...

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IBM Corp drops after revenue declines for 13th straight quarter


IBM fell after reporting second-quarter sales declines across all its major sections, missing analysts\’ estimates and marking the 13th straight duration of falling revenue. Profit excluding some items was $3.84 a share, International Business Machines Corp. said in a statement Monday, beating the $3.78 average projection from analysts as reduced administrative and research costs offset declines in the services and ...

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Is there a turn around ahead? AGF Investments chief still has work to do


Kevin McCreadie for the past year has been getting up at 3 a.m. every Monday to catch a 6 a.m. flight from Baltimore, his current residence, to Toronto, where he works. The U.S.-born president and chief investment officer of AGF Investments Inc. was specifically hired last year to turn round the struggling money manager, carrying out a year-long global search ...

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Toronto stock market closes lower, led by declines in mining and gold


TORONTO – The Toronto Stock Exchange closed lower Thursday, led by declines within the metals and mining and gold sectors, as the loonie continued its slide, hitting its lowest closing price in additional than a decade for the second day consecutively. The S&P/TSX composite index fell 41.75 suggests close at 14,265.37. The metals and mining sector from the TSX was ...

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Taking a global view on investing in Canadian stocks


Canadian dollar weakness, disappointing growth prospects and two interest rate cuts through the Bank of Canada are earning many global investors fearful of Canada’s equity markets these days, not to mention the bear market in lots of commodities. But it wasn’t so long ago that sentiment was pretty bullish on Canada. By early 2015, United states stocks had significantly rebounded ...

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Precision Drilling Corp. upgraded, dividend hike expected


It may seem strange to listen to that an energy-related clients are being upgraded, but that’s precisely what happened for Precision Drilling Corp. The Calgary-based oilfield services company got a ratings lift to outperform from neutral at Scotiabank after its second-quarter results showed its resiliency. Despite management’s acknowledgement that there\’s very little visibility at the macro level, with no expectation ...

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Canadian companies looking for mergers and acquisitions outside ‘stagnant’ domestic economy, says report


MONTREAL – With the domestic economy stuck in neutral, the majority of the money spent on acquisitions by Canadian companies went outside the country within the last quarter, according to a report released by Crosbie & Company Thursday. Cross-border transactions within the second quarter of 2015 represented 42 per cent of all announcements, however, 76 per cent of the total ...

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TSX caps seven-session losing streak on higher oil price


TORONTO – Higher oil prices propelled the Toronto Stock Exchange to a higher finish since many sectors gained some traction. The S&P/TSX composite index capped seven consecutive sessions of declines by rising 75.99 points to 14,077.36. Driving the market higher was the TSX energy sector because the September contract for crude oil gained 59 cents to US$47.98 on the New ...

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Tim Hortons to face more cuts as Restaurant Brands seeks additional savings


Tim Hortons has already had its expenses dramatically slashed since its merger with Burger King, but analysts believe more cost cutting is coming up next for the Canadian coffee and baked goods chain. Corporate parent Restaurant Brands International Inc. in January cut 350 jobs from Tim Hortons’ headquarters in Oakville, Ont., and later offered voluntary buyouts to fifteen per cent ...

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