Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

TSX flat as key data awaited; Scotiabank beat, BMO earnings miss

Published 28/02/2024, 05:22 am
© Reuters.
GSPTSE
-
BMO
-
BNS
-
OGC
-
EFR
-
AOI
-
ERO
-
ASTL
-

Investing.com — Canada’s main stock index, the S&P/TSX Composite index traded flat by mid-afternoon on Tuesday, as market sentiment remains cautious ahead of key economic data this week in both the U.S. and Canada.

Wall Street meanwhile traded on a mixed note, as traders await the release of the PCE price index, the Fed’s preferred measure of inflation, on Thursday. Thursday will also see the release of Canadian GDP data.

InvestingPro subscribers are the first to receive breaking Canadian markets news, TSX analyst upgrades, and know which Toronto stocks are moving markets today. Use code GOPROCANADA for a 10% discount on yearly and biyearly plans.

Toronto Stock Market News

​​Bank of Nova Scotia reported stronger-than-expected first-quarter earnings, boosted by its Canadian and international banking operations, even as provisions for credit losses rose. Scotiabank (TSX:BNS) recorded an income of $2.17 billion, or $1.68 a share, versus $1.72 billion, or $1.35, a year earlier. On an adjusted basis earnings were $1.69 a share, beating estimates for $1.61 forecast by analysts. Revenue for the three-month period totalled $8.43 billion, up from $7.96 billion in its first quarter last year.

Bank of Montreal (TSX:BMO) reported disappointing first-quarter results today, with its commercial banking in North America, capital markets, and corporate services under pressure from what chief executive Darryl White characterized as “constrained revenue growth in market-sensitive businesses.” The bank's net income totalled $1.29 billion, up from $133 million a year earlier. On an adjusted basis, profit of $2.56 per share, well below the $3.02 per share analysts had expected, and down from $3.06 per share a year ago. Overall revenue totalled $7.67 billion for the quarter, up from $5.10 billion. On an adjusted basis.

For all earnings, view our earnings calendar.

Toronto Stocks Moving Markets Today

Top Gainers on the TSX Today:

Top Losers on the TSX Today:

  • Africa Oil Corp (TSX:AOI).
  • Oceana Gold (TSX:OGC)
  • Bank of Montreal (TSX:BMO)

For all Canadian Stocks Moving Markets today, view our Canada Markets Page.

In Canadian Economics

No major Canadian economic data due today.

For all Canadian economic releases, view our economic calendar.

All currencies Canadian Dollar unless noted otherwise.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.