Unnamed: 0 stringlengths 3 8 | Date stringlengths 23 23 | Article_title stringlengths 1 250 | Stock_symbol stringlengths 1 5 | Url stringlengths 44 135 | Publisher stringclasses 1 value | Author stringclasses 1 value | Article stringlengths 1 343k | Lsa_summary stringlengths 3 53.9k | Luhn_summary stringlengths 1 53.9k | Textrank_summary stringlengths 1 53.9k | Lexrank_summary stringlengths 1 53.9k |
|---|---|---|---|---|---|---|---|---|---|---|---|
35000.0 | 2021-04-06 00:00:00 UTC | Transat's top shareholder turns down Quebec businessman Peladeau's offer - The Globe and Mail | AC | https://www.nasdaq.com/articles/transats-top-shareholder-turns-down-quebec-businessman-peladeaus-offer-the-globe-and-mail | nan | nan | Adds details from the report, background
April 6 (Reuters) - Transat AT Inc's TRZ.TO largest shareholder Peter Letko said he would not sell his shares in the Canadian tour operator at the price offered by Quebec businessman Pierre Karl Péladeau, the Globe and Mail reported on Tuesday.
Letko, vice president at Letko Brosseau and Associates, said he supports Transat AT's plan to seek $500 million in loans and to operate independently rather than sell at a reduced price, the report said.
Letko's firm owns a 12.69% stake in Transat, according to Refinitiv data.
Transat said it would hold talks with Péladeau, who has offered $5 a share for the tour operator, the report said.
Canada's largest airline Air Canada AC.TO scrapped its proposed C$188.7 million ($150.04 million) acquisition of Transat last Friday, due to antitrust hurdles in Europe.
Péladeau, chief executive officer of Canadian media and telecom firm Québecor Inc QBRb.TO, had said the offer he had made for Transat in December was still available.
Transat last week said its top priority was securing financing and that it would review all its options including Péladeau's proposal.
Transat, Peter Letko and Québecor did not immediately respond to Reuters requests for comment.
($1 = 1.2577 Canadian dollars)
UPDATE 4-Air Canada scraps Transat deal on EU headwinds, other bidder returns
Quebec businessman Peladeau says his Transat offer still available
(Reporting by Manojna Maddipatla in Bengaluru; Editing by Shailesh Kuber)
((manojna.kalyani@thomsonreuters.com; +91 8061822700;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details from the report, background April 6 (Reuters) - Transat AT Inc's TRZ.TO largest shareholder Peter Letko said he would not sell his shares in the Canadian tour operator at the price offered by Quebec businessman Pierre Karl Péladeau, the Globe and Mail reported on Tuesday. Letko's firm owns a 12.69% stake in Transat, according to Refinitiv data. Canada's largest airline Air Canada AC.TO scrapped its proposed C$188.7 million ($150.04 million) acquisition of Transat last Friday, due to antitrust hurdles in Europe. | Adds details from the report, background April 6 (Reuters) - Transat AT Inc's TRZ.TO largest shareholder Peter Letko said he would not sell his shares in the Canadian tour operator at the price offered by Quebec businessman Pierre Karl Péladeau, the Globe and Mail reported on Tuesday. Canada's largest airline Air Canada AC.TO scrapped its proposed C$188.7 million ($150.04 million) acquisition of Transat last Friday, due to antitrust hurdles in Europe. Letko's firm owns a 12.69% stake in Transat, according to Refinitiv data. | Adds details from the report, background April 6 (Reuters) - Transat AT Inc's TRZ.TO largest shareholder Peter Letko said he would not sell his shares in the Canadian tour operator at the price offered by Quebec businessman Pierre Karl Péladeau, the Globe and Mail reported on Tuesday. Letko's firm owns a 12.69% stake in Transat, according to Refinitiv data. Canada's largest airline Air Canada AC.TO scrapped its proposed C$188.7 million ($150.04 million) acquisition of Transat last Friday, due to antitrust hurdles in Europe. | Adds details from the report, background April 6 (Reuters) - Transat AT Inc's TRZ.TO largest shareholder Peter Letko said he would not sell his shares in the Canadian tour operator at the price offered by Quebec businessman Pierre Karl Péladeau, the Globe and Mail reported on Tuesday. Letko's firm owns a 12.69% stake in Transat, according to Refinitiv data. Canada's largest airline Air Canada AC.TO scrapped its proposed C$188.7 million ($150.04 million) acquisition of Transat last Friday, due to antitrust hurdles in Europe. |
35001.0 | 2021-04-05 00:00:00 UTC | Transat sinks 22% after Air Canada scraps buyout deal | AC | https://www.nasdaq.com/articles/transat-sinks-22-after-air-canada-scraps-buyout-deal-2021-04-05 | nan | nan | By Ankit Ajmera
April 5 (Reuters) - Transat's TRZ.TO shares slumped more than 22% on Monday after Air Canada AC.TO scrapped its C$188.7 million ($150.83 million) buyout deal for the tour operator due to antitrust hurdles in Europe.
The failed takeover prompted several analysts to lower their ratings on Montreal-based Transat, whose business has suffered because of COVID-19.
"The catastrophic impact of the pandemic, Transat's liquidity requirements, the tenuous state of the recovery, and the elimination of a formal takeover offer for the company justify a 'reduce' recommendation," TD Securities analyst Tim James wrote in a note.
Some analysts also raised doubts on whether other suitors, including Quebec businessman Pierre Karl Péladeau (PKP), would come through given Transat's financing needs of at least $500 million.
"We would not yet assume that PKP will honour his C$5 per share offer or even buy Transat, considering that Transat stated last month that his proposal lacked evidence of financing to support a deal," Scotiabank analyst Konark Gupta said in a note.
Péladeau said on Friday his offer was still available.
Transat's shares fell to C$4.25 on Monday, marking their biggest intra-day percentage loss in over a year.
Air Canada's offer, which the airline abandoned over the European Commission's concerns around competition, would have offered a lifeline to Transat after its annual loss ballooned to more than C$355 million ($283.77 million) last year.
"In our view, traditional EPS and EBITDA-based multiples are not relevant or possible at this time due to the excessive debt in the capital structure and negative earnings," TD Securities' James said, cutting Transat's target price to C$3.25 from C$7.50.
Transat's total debt stood at over C$900 million as of Jan. 31.
Most analysts, however, said they expected some government support for Transat in the upcoming federal budget, set to be released on April 19.
($1 = 1.2511 Canadian dollars)
(Reporting by Ankit Ajmera in Bengaluru; Editing by Aditya Soni)
((Ankit.Ajmera@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | "The catastrophic impact of the pandemic, Transat's liquidity requirements, the tenuous state of the recovery, and the elimination of a formal takeover offer for the company justify a 'reduce' recommendation," TD Securities analyst Tim James wrote in a note. By Ankit Ajmera April 5 (Reuters) - Transat's TRZ.TO shares slumped more than 22% on Monday after Air Canada AC.TO scrapped its C$188.7 million ($150.83 million) buyout deal for the tour operator due to antitrust hurdles in Europe. "We would not yet assume that PKP will honour his C$5 per share offer or even buy Transat, considering that Transat stated last month that his proposal lacked evidence of financing to support a deal," Scotiabank analyst Konark Gupta said in a note. | By Ankit Ajmera April 5 (Reuters) - Transat's TRZ.TO shares slumped more than 22% on Monday after Air Canada AC.TO scrapped its C$188.7 million ($150.83 million) buyout deal for the tour operator due to antitrust hurdles in Europe. "The catastrophic impact of the pandemic, Transat's liquidity requirements, the tenuous state of the recovery, and the elimination of a formal takeover offer for the company justify a 'reduce' recommendation," TD Securities analyst Tim James wrote in a note. "We would not yet assume that PKP will honour his C$5 per share offer or even buy Transat, considering that Transat stated last month that his proposal lacked evidence of financing to support a deal," Scotiabank analyst Konark Gupta said in a note. | By Ankit Ajmera April 5 (Reuters) - Transat's TRZ.TO shares slumped more than 22% on Monday after Air Canada AC.TO scrapped its C$188.7 million ($150.83 million) buyout deal for the tour operator due to antitrust hurdles in Europe. "We would not yet assume that PKP will honour his C$5 per share offer or even buy Transat, considering that Transat stated last month that his proposal lacked evidence of financing to support a deal," Scotiabank analyst Konark Gupta said in a note. "The catastrophic impact of the pandemic, Transat's liquidity requirements, the tenuous state of the recovery, and the elimination of a formal takeover offer for the company justify a 'reduce' recommendation," TD Securities analyst Tim James wrote in a note. | By Ankit Ajmera April 5 (Reuters) - Transat's TRZ.TO shares slumped more than 22% on Monday after Air Canada AC.TO scrapped its C$188.7 million ($150.83 million) buyout deal for the tour operator due to antitrust hurdles in Europe. "The catastrophic impact of the pandemic, Transat's liquidity requirements, the tenuous state of the recovery, and the elimination of a formal takeover offer for the company justify a 'reduce' recommendation," TD Securities analyst Tim James wrote in a note. "We would not yet assume that PKP will honour his C$5 per share offer or even buy Transat, considering that Transat stated last month that his proposal lacked evidence of financing to support a deal," Scotiabank analyst Konark Gupta said in a note. |
35002.0 | 2021-04-04 00:00:00 UTC | After failed takeover, Air Transat seeks help as debt crunch looms | AC | https://www.nasdaq.com/articles/after-failed-takeover-air-transat-seeks-help-as-debt-crunch-looms-2021-04-04 | nan | nan | By David Ljunggren and Allison Lampert
OTTAWA/MONTREAL, April 4 (Reuters) - Struggling tour operator Air Transat TRZ.TO is in talks with the federal government on aid but may not reach a deal by an April debt deadline, a source close to the situation said, putting pressure on Quebec to ride to the rescue of another troubled aerospace brand in the province.
Air Canada AC.TO dropped its merger plans with Transat on Friday, saying European regulators had signaled it was unlikely to pass antitrust concerns.
Canada’s largest carrier first bid for Transat in 2019 and discounted its offer last year as the pandemic decimated the travel and tourism sector.
Airlines have been in talks with Ottawa since last year about a possible aid package. Transat’s aborted deal adds fresh urgency to the talks, given the jobs at risk if the carrier fails and the political importance of Quebec ahead of an expected federal election this year.
Transat, which last month suspended flights until June due to pandemic guidelines, has said it needs at least C$500 million in financing this year.
It has obligations due on April 29 for a $50 million revolving facility and a C$250 million short-term loan that matures on June 30. If it does not meet the April 29 requirements, or obtain another extension, creditors could accelerate the repayment obligation.
"There are ongoing negotiations and there is a budget coming up and there is no guarantee at this point that they will get there before the budget," said a source close to the situation, referring to the federal budget slated for April 19.
"I think politically it would be a problem in Quebec. The federal government therefore absolutely has to come up with a solution," the source added, noting that "Transat has more of a cachet in Quebec (than Air Canada)."
Both airlines are Montreal-based but Air Canada originated in Winnipeg before moving its headquarters to Quebec in the 1940s. Transat was founded by a group of Quebec businessmen, including the province’s current premier, in 1986 and grew to become the country’s third-biggest airline.
The airline was "confident we will be able to secure the necessary financing in the coming weeks," spokesman Christophe Hennebelle said on Sunday, reiterating it was at an "advanced stage" of discussions with Ottawa on sector aid and accessing specific pandemic-aid to businesses.
Asked about the status of government talks with Transat, a spokeswoman for Canada’s finance minister said: "I can’t speak to which creditors or lines of financing Air Transat is pursuing. As a private company, they’d be best placed to answer that."
Ottawa said on Friday that protecting jobs and securing the long-term viability of Transat were a priority for the government. The carrier employs 5,000 people, mostly in Quebec, home to much of Canada’s aerospace sector.
'COLLECTIVE INTEREST'
The survival of Transat, its Montreal headquarters and employees puts significant pressure on the Quebec government to secure its future.
Quebec has come to the aid of struggling aerospace companies before. In 2015, the previous provincial government sunk US$1 billion into planemaker Bombardier’s BBDb.TO then-struggling CSeries program. Two years later, Airbus paid Bombardier one dollar for control of the commercial jet program.
"The Quebec government is caught between a rock and a hard place on this one," said John Gradek, a former airline executive and program coordinator at McGill University's aviation management program.
"There will be a lot of pressure on (Premier Francois) Legault to come to (Quebec businessman) Pierre Karl Péladeau’s aid in terms of funding."
Péladeau, who proposed buying Transat for $5 a share, said on Friday his offer is still available. Transat had previously said the bid lacked the required level of financing.
Péladeau, chief executive of Quebecor Inc QBRb.TO, said in a statement that his offer includes "a rigorous business plan focusing on areas of the company with high growth potential, on expertise and job creation in Quebec” and a continued Montreal head office.
A second source familiar with the matter said Péladeau’s offer did not call for funding from the Quebec government, which said in February it was looking at scenarios for Transat "with or without Air Canada."
A spokesman for Quebec’s economy minister declined comment on Sunday.
The separatist Bloc Quebecois said it wanted to ensure Quebec ownership would be favored for the carrier and blamed Ottawa, which approved the merger in February, for delaying an airline aid package.
"Air Transat is a flagship that has made Quebecers proud while offering Francophones a career in aviation," BQ transport critic Xavier Barsalou-Duval said in a statement.
"It is in our collective interest that its decision-making center as well as its control remain in Quebec."
(Additional reporting by Steve Scherer in Ottawa; Writing by Amran Abocar; Editing by)
((amran.abocar@thomsonreuters.com; + 416 941 1685; Reuters Messaging: amran.abocar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The airline was "confident we will be able to secure the necessary financing in the coming weeks," spokesman Christophe Hennebelle said on Sunday, reiterating it was at an "advanced stage" of discussions with Ottawa on sector aid and accessing specific pandemic-aid to businesses. By David Ljunggren and Allison Lampert OTTAWA/MONTREAL, April 4 (Reuters) - Struggling tour operator Air Transat TRZ.TO is in talks with the federal government on aid but may not reach a deal by an April debt deadline, a source close to the situation said, putting pressure on Quebec to ride to the rescue of another troubled aerospace brand in the province. Air Canada AC.TO dropped its merger plans with Transat on Friday, saying European regulators had signaled it was unlikely to pass antitrust concerns. | By David Ljunggren and Allison Lampert OTTAWA/MONTREAL, April 4 (Reuters) - Struggling tour operator Air Transat TRZ.TO is in talks with the federal government on aid but may not reach a deal by an April debt deadline, a source close to the situation said, putting pressure on Quebec to ride to the rescue of another troubled aerospace brand in the province. Air Canada AC.TO dropped its merger plans with Transat on Friday, saying European regulators had signaled it was unlikely to pass antitrust concerns. Airlines have been in talks with Ottawa since last year about a possible aid package. | By David Ljunggren and Allison Lampert OTTAWA/MONTREAL, April 4 (Reuters) - Struggling tour operator Air Transat TRZ.TO is in talks with the federal government on aid but may not reach a deal by an April debt deadline, a source close to the situation said, putting pressure on Quebec to ride to the rescue of another troubled aerospace brand in the province. Air Canada AC.TO dropped its merger plans with Transat on Friday, saying European regulators had signaled it was unlikely to pass antitrust concerns. Airlines have been in talks with Ottawa since last year about a possible aid package. | By David Ljunggren and Allison Lampert OTTAWA/MONTREAL, April 4 (Reuters) - Struggling tour operator Air Transat TRZ.TO is in talks with the federal government on aid but may not reach a deal by an April debt deadline, a source close to the situation said, putting pressure on Quebec to ride to the rescue of another troubled aerospace brand in the province. Airlines have been in talks with Ottawa since last year about a possible aid package. Quebec has come to the aid of struggling aerospace companies before. |
35003.0 | 2021-04-02 00:00:00 UTC | Air Canada and Transat terminate planned deal after EU advises against it | AC | https://www.nasdaq.com/articles/air-canada-and-transat-terminate-planned-deal-after-eu-advises-against-it-2021-04-02 | nan | nan | Adds background
April 2 (Reuters) - Air Canada AC.TO and Transat AT Inc TRZ.TO said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada, after being advised by European Commission that it would not approve the deal.
Air Canada said that following the recent discussions with the European Commission (EC), it has become evident, however, that the EC will not approve the acquisition based on the offered remedy package.
Air Canada in February refused to extend the deadline for its C$188.7 million ($150.19 million) deal for Transat, after European regulators failed to give the go-ahead for the buyout.
The two companies had agreed in June 2019 on the acquisition, the terms of which were subsequently amended in August 2019 and then revised in October 2020 as a result of the severe economic impact of the COVID-19 pandemic.
Air Canada has agreed to pay a C$12.5 million termination payment to Transat.
($1 = 1.2564 Canadian dollars)
(Reporting by Arunima Kumar in Bengaluru Editing by Matthew Lewis and Marguerita Choy)
((Arunima.Kumar@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds background April 2 (Reuters) - Air Canada AC.TO and Transat AT Inc TRZ.TO said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada, after being advised by European Commission that it would not approve the deal. The two companies had agreed in June 2019 on the acquisition, the terms of which were subsequently amended in August 2019 and then revised in October 2020 as a result of the severe economic impact of the COVID-19 pandemic. Air Canada said that following the recent discussions with the European Commission (EC), it has become evident, however, that the EC will not approve the acquisition based on the offered remedy package. | Adds background April 2 (Reuters) - Air Canada AC.TO and Transat AT Inc TRZ.TO said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada, after being advised by European Commission that it would not approve the deal. Air Canada said that following the recent discussions with the European Commission (EC), it has become evident, however, that the EC will not approve the acquisition based on the offered remedy package. The two companies had agreed in June 2019 on the acquisition, the terms of which were subsequently amended in August 2019 and then revised in October 2020 as a result of the severe economic impact of the COVID-19 pandemic. | Adds background April 2 (Reuters) - Air Canada AC.TO and Transat AT Inc TRZ.TO said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada, after being advised by European Commission that it would not approve the deal. Air Canada said that following the recent discussions with the European Commission (EC), it has become evident, however, that the EC will not approve the acquisition based on the offered remedy package. The two companies had agreed in June 2019 on the acquisition, the terms of which were subsequently amended in August 2019 and then revised in October 2020 as a result of the severe economic impact of the COVID-19 pandemic. | Adds background April 2 (Reuters) - Air Canada AC.TO and Transat AT Inc TRZ.TO said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada, after being advised by European Commission that it would not approve the deal. The two companies had agreed in June 2019 on the acquisition, the terms of which were subsequently amended in August 2019 and then revised in October 2020 as a result of the severe economic impact of the COVID-19 pandemic. Air Canada said that following the recent discussions with the European Commission (EC), it has become evident, however, that the EC will not approve the acquisition based on the offered remedy package. |
35004.0 | 2021-04-02 00:00:00 UTC | Air Canada and Transat terminate planned deal | AC | https://www.nasdaq.com/articles/air-canada-and-transat-terminate-planned-deal-2021-04-02 | nan | nan | April 2 (Reuters) - Air Canada AC.TO and Transat AT Inc TRZ.TO said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada.
The two companies had agreed in June 2019 on the acquisition, the terms of which were subsequently amended in August 2019 and then revised in October 2020 as a result of the severe economic impact of the COVID-19 pandemic.
(Reporting by Arunima Kumar in Bengaluru Editing by Matthew Lewis)
((Arunima.Kumar@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | April 2 (Reuters) - Air Canada AC.TO and Transat AT Inc TRZ.TO said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada. The two companies had agreed in June 2019 on the acquisition, the terms of which were subsequently amended in August 2019 and then revised in October 2020 as a result of the severe economic impact of the COVID-19 pandemic. (Reporting by Arunima Kumar in Bengaluru Editing by Matthew Lewis) ((Arunima.Kumar@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | April 2 (Reuters) - Air Canada AC.TO and Transat AT Inc TRZ.TO said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada. The two companies had agreed in June 2019 on the acquisition, the terms of which were subsequently amended in August 2019 and then revised in October 2020 as a result of the severe economic impact of the COVID-19 pandemic. (Reporting by Arunima Kumar in Bengaluru Editing by Matthew Lewis) ((Arunima.Kumar@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | April 2 (Reuters) - Air Canada AC.TO and Transat AT Inc TRZ.TO said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada. The two companies had agreed in June 2019 on the acquisition, the terms of which were subsequently amended in August 2019 and then revised in October 2020 as a result of the severe economic impact of the COVID-19 pandemic. (Reporting by Arunima Kumar in Bengaluru Editing by Matthew Lewis) ((Arunima.Kumar@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | April 2 (Reuters) - Air Canada AC.TO and Transat AT Inc TRZ.TO said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada. The two companies had agreed in June 2019 on the acquisition, the terms of which were subsequently amended in August 2019 and then revised in October 2020 as a result of the severe economic impact of the COVID-19 pandemic. (Reporting by Arunima Kumar in Bengaluru Editing by Matthew Lewis) ((Arunima.Kumar@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
35005.0 | 2021-03-24 00:00:00 UTC | Canada's WestJet Airlines restores routes as COVID-19 shots raise hope of summer travel | AC | https://www.nasdaq.com/articles/canadas-westjet-airlines-restores-routes-as-covid-19-shots-raise-hope-of-summer-travel-0 | nan | nan | By Allison Lampert
March 24 (Reuters) - WestJet Airlines is restoring some suspended domestic routes beginning in June, as executives hope that a pickup in COVID-19 vaccinations can salvage summer travel, Canada's second-largest carrier said on Wednesday.
While Canada has trailed the United States in the pace of its vaccine rollout, supplies are expected to ramp up over the next two weeks, and Canada's top vaccine coordinator expects there should be enough to give every citizen a first dose by the end of June.
"That's the type of encouraging news that's allowed us to make today's announcement," Andy Gibbons, WestJet's director for government relations, told reporters.
Onex Corp ONEX.TO-owned Westjet would resume flights to five airports serving Atlantic Canada and Quebec, beginning on June 24.
Canada's largest carrier, Air Canada AC.TO, also plans to resume summer service to certain destinations that are seasonal or were suspended due to COVID-19.
Gibbons called for government to transition away by May 1 from crippling requirements that oblige international travelers to self-isolate for up to three days in a hotel, before completing a 14-day quarantine.
He said WestJet's announcement was unrelated to a government demand to protect regional routes as part of talks to reach a financial aid package for the aviation sector.
Calgary-based WestJet, which currently operates at around 10% of pre-pandemic traffic, is restoring routes of "its own volition," said its chief commercial officer, John Weatherill.
Later in the day, Canadian Prime Minister Justin Trudeau acknowledged in a radio interview that the country needed to move faster on vaccinations, but he was optimistic about summer.
"We are going to have all adults fully vaccinated by September and, looking at the horizons some of the provinces have put forward, I think it's possible that many, many Canadians will have their first doses by the time summer rolls around."
(Reporting By Allison Lampert in Montreal. Additional reporting by Allison Martel in Toronto and Julie Gordon in Ottawa; editing by John Stonestreet and Jonathan Oatis)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Allison Lampert March 24 (Reuters) - WestJet Airlines is restoring some suspended domestic routes beginning in June, as executives hope that a pickup in COVID-19 vaccinations can salvage summer travel, Canada's second-largest carrier said on Wednesday. He said WestJet's announcement was unrelated to a government demand to protect regional routes as part of talks to reach a financial aid package for the aviation sector. Later in the day, Canadian Prime Minister Justin Trudeau acknowledged in a radio interview that the country needed to move faster on vaccinations, but he was optimistic about summer. | By Allison Lampert March 24 (Reuters) - WestJet Airlines is restoring some suspended domestic routes beginning in June, as executives hope that a pickup in COVID-19 vaccinations can salvage summer travel, Canada's second-largest carrier said on Wednesday. Canada's largest carrier, Air Canada AC.TO, also plans to resume summer service to certain destinations that are seasonal or were suspended due to COVID-19. While Canada has trailed the United States in the pace of its vaccine rollout, supplies are expected to ramp up over the next two weeks, and Canada's top vaccine coordinator expects there should be enough to give every citizen a first dose by the end of June. | By Allison Lampert March 24 (Reuters) - WestJet Airlines is restoring some suspended domestic routes beginning in June, as executives hope that a pickup in COVID-19 vaccinations can salvage summer travel, Canada's second-largest carrier said on Wednesday. While Canada has trailed the United States in the pace of its vaccine rollout, supplies are expected to ramp up over the next two weeks, and Canada's top vaccine coordinator expects there should be enough to give every citizen a first dose by the end of June. Canada's largest carrier, Air Canada AC.TO, also plans to resume summer service to certain destinations that are seasonal or were suspended due to COVID-19. | By Allison Lampert March 24 (Reuters) - WestJet Airlines is restoring some suspended domestic routes beginning in June, as executives hope that a pickup in COVID-19 vaccinations can salvage summer travel, Canada's second-largest carrier said on Wednesday. While Canada has trailed the United States in the pace of its vaccine rollout, supplies are expected to ramp up over the next two weeks, and Canada's top vaccine coordinator expects there should be enough to give every citizen a first dose by the end of June. Canada's largest carrier, Air Canada AC.TO, also plans to resume summer service to certain destinations that are seasonal or were suspended due to COVID-19. |
35006.0 | 2021-03-24 00:00:00 UTC | Canada's WestJet Airlines restores routes as COVID-19 shots raise hope of summer travel | AC | https://www.nasdaq.com/articles/canadas-westjet-airlines-restores-routes-as-covid-19-shots-raise-hope-of-summer-travel | nan | nan | By Allison Lampert
March 24 (Reuters) - WestJet Airlines is restoring some suspended domestic routes from June, as executives hope that a pick-up in COVID-19 vaccinations can salvage summer travel, Canada's second-largest carrier said on Wednesday.
While Canada has trailed the United States on the pace of its vaccine rollout, supplies are expected to ramp up over the next two weeks, and Canada's top vaccine coordinator expects there should be enough to give every citizen a first dose by the end of June.
"That's the type of encouraging news that's allowed us to make today's announcement," Andy Gibbons, WestJet's director, government relations, told reporters.
Onex Corp ONEX.TO-owned Westjet would resume flights to five airports serving Atlantic Canada and Quebec, beginning June 24.
Canada's largest carrier Air Canada AC.TO will also resume summer service to certain destinations that are seasonal or were suspended due to COVID-19.
Gibbons called for government to transition away by May 1 from crippling requirements that oblige international travelers to self-isolate for up to three days in a hotel, before completing a 14-day quarantine.
He said WestJet's announcement was unrelated to a government demand to protect regional routes as part of talks to reach a financial aid package for the aviation sector.
Calgary-based WestJet, which currently operates at around 10% of pre-pandemic traffic, is restoring routes of "its own volition," said chief commercial officer John Weatherill.
Asked during a Wednesday radio interview about reopening Canada's land border with the United States, Prime Minister Justin Trudeau said "it won't be right away, because cases are still high on both sides of the border."
($1 = 1.2545 Canadian dollars)
(Reporting By Allison Lampert in Montreal. Additional reporting by Allison Martel in Toronto and Julie Gordon in Ottawa; editing by John Stonestreet)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Allison Lampert March 24 (Reuters) - WestJet Airlines is restoring some suspended domestic routes from June, as executives hope that a pick-up in COVID-19 vaccinations can salvage summer travel, Canada's second-largest carrier said on Wednesday. He said WestJet's announcement was unrelated to a government demand to protect regional routes as part of talks to reach a financial aid package for the aviation sector. While Canada has trailed the United States on the pace of its vaccine rollout, supplies are expected to ramp up over the next two weeks, and Canada's top vaccine coordinator expects there should be enough to give every citizen a first dose by the end of June. | By Allison Lampert March 24 (Reuters) - WestJet Airlines is restoring some suspended domestic routes from June, as executives hope that a pick-up in COVID-19 vaccinations can salvage summer travel, Canada's second-largest carrier said on Wednesday. Canada's largest carrier Air Canada AC.TO will also resume summer service to certain destinations that are seasonal or were suspended due to COVID-19. While Canada has trailed the United States on the pace of its vaccine rollout, supplies are expected to ramp up over the next two weeks, and Canada's top vaccine coordinator expects there should be enough to give every citizen a first dose by the end of June. | By Allison Lampert March 24 (Reuters) - WestJet Airlines is restoring some suspended domestic routes from June, as executives hope that a pick-up in COVID-19 vaccinations can salvage summer travel, Canada's second-largest carrier said on Wednesday. While Canada has trailed the United States on the pace of its vaccine rollout, supplies are expected to ramp up over the next two weeks, and Canada's top vaccine coordinator expects there should be enough to give every citizen a first dose by the end of June. Canada's largest carrier Air Canada AC.TO will also resume summer service to certain destinations that are seasonal or were suspended due to COVID-19. | By Allison Lampert March 24 (Reuters) - WestJet Airlines is restoring some suspended domestic routes from June, as executives hope that a pick-up in COVID-19 vaccinations can salvage summer travel, Canada's second-largest carrier said on Wednesday. While Canada has trailed the United States on the pace of its vaccine rollout, supplies are expected to ramp up over the next two weeks, and Canada's top vaccine coordinator expects there should be enough to give every citizen a first dose by the end of June. Canada's largest carrier Air Canada AC.TO will also resume summer service to certain destinations that are seasonal or were suspended due to COVID-19. |
35007.0 | 2021-03-24 00:00:00 UTC | CANADA STOCKS-Energy stocks lift TSX as oil jumps on supply concerns | AC | https://www.nasdaq.com/articles/canada-stocks-energy-stocks-lift-tsx-as-oil-jumps-on-supply-concerns-2021-03-24 | nan | nan | Updates prices, adds sector details
March 24 (Reuters) - Canada's main stock index rose on Wednesday, with energy stocks climbing over 3% as crude prices gained on supply concerns after a ship ran aground in the Suez Canal.
* The energy sector .SPTTEN climbed 3.1% as U.S. crude CLc1 prices rose to $59.7 a barrel, while Brent crude LCOc1 rose to $62.8. O/R
* Eight tug boats were attempting on Wednesday to free a 400-metre (440 yards) long container ship that ran aground in the Suez Canal, blocking vessels passing through one of the world's most important waterways.
* At 9:42 a.m. ET (13:42 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 92.74 points, or 0.5%, at 18,762.54.
* The largest percentage gainers on the TSX were Crescent Point Energy Corp CPG.TO, which jumped 4.9% after brokerage TD Securities hiked the price target of the oil producer's stock, and Air Canada AC.TO, which rose 4.7%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 0.2% as gold futures GCc1 rose 0.4% to $1,731.5 an ounce. GOL/
* The financials sector .SPTTFS gained 0.7%. The industrials sector .GSPTTIN rose 0.5%.
* On the TSX, 141 issues were higher, while 87 issues declined for a 1.62-to-1 ratio favouring gainers, with 21.87 million shares traded.
* Food processing firm Sunopta Inc fell 3.5%, the most on the TSX, and the second-biggest decliner was pharmaceuticals company Bausch Health Companies Inc , down 3.2%.
* The most heavily traded shares by volume were Canadian Natural Resources Limited , Power Corporation of Canada , and Athabasca Oil Corp .
* The TSX posted three new 52-week highs and no new lows.
* Across all Canadian issues there were 12 new 52-week highs and one new low, with total volume of 40.82 million shares.
(Reporting by Amal S in Bengaluru; Editing by Ramakrishnan M.)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The largest percentage gainers on the TSX were Crescent Point Energy Corp CPG.TO, which jumped 4.9% after brokerage TD Securities hiked the price target of the oil producer's stock, and Air Canada AC.TO, which rose 4.7%. * Food processing firm Sunopta Inc fell 3.5%, the most on the TSX, and the second-biggest decliner was pharmaceuticals company Bausch Health Companies Inc , down 3.2%. * Across all Canadian issues there were 12 new 52-week highs and one new low, with total volume of 40.82 million shares. | * The largest percentage gainers on the TSX were Crescent Point Energy Corp CPG.TO, which jumped 4.9% after brokerage TD Securities hiked the price target of the oil producer's stock, and Air Canada AC.TO, which rose 4.7%. * Food processing firm Sunopta Inc fell 3.5%, the most on the TSX, and the second-biggest decliner was pharmaceuticals company Bausch Health Companies Inc , down 3.2%. * Across all Canadian issues there were 12 new 52-week highs and one new low, with total volume of 40.82 million shares. | * The largest percentage gainers on the TSX were Crescent Point Energy Corp CPG.TO, which jumped 4.9% after brokerage TD Securities hiked the price target of the oil producer's stock, and Air Canada AC.TO, which rose 4.7%. * Food processing firm Sunopta Inc fell 3.5%, the most on the TSX, and the second-biggest decliner was pharmaceuticals company Bausch Health Companies Inc , down 3.2%. * Across all Canadian issues there were 12 new 52-week highs and one new low, with total volume of 40.82 million shares. | * The largest percentage gainers on the TSX were Crescent Point Energy Corp CPG.TO, which jumped 4.9% after brokerage TD Securities hiked the price target of the oil producer's stock, and Air Canada AC.TO, which rose 4.7%. * Across all Canadian issues there were 12 new 52-week highs and one new low, with total volume of 40.82 million shares. * Food processing firm Sunopta Inc fell 3.5%, the most on the TSX, and the second-biggest decliner was pharmaceuticals company Bausch Health Companies Inc , down 3.2%. |
35008.0 | 2021-03-16 00:00:00 UTC | EMERGING MARKETS-South Korea leads muted Asian stocks higher ahead of Fed meeting | AC | https://www.nasdaq.com/articles/emerging-markets-south-korea-leads-muted-asian-stocks-higher-ahead-of-fed-meeting-2021-0 | nan | nan | Philippine stocks edge higher after sharp fall on Monday
U.S. 10-year Treasury yield see a small pullback
Federal Reserve's two-day meeting starts later in the day
March 16 (Reuters) - South Korea, China and India led Asia's emerging stock markets higher on Tuesday following a rally in Wall Street, although gains were capped ahead of the two-day U.S. Federal Reserve policy meeting.
Stock market gains were largely subdued at below half a percent, with only South Korea .KS11 adding more.
Currencies in the region were flat to slightly higher as the dollar stood firm despite a small pullback in the U.S. benchmark 10-year Treasury yield.
While the yields US10YT=RR were at 1.59%, off 13-month highs of 1.64% hit on Friday, another spike could sap appetite for Asia's higher-yielding currencies and bonds.
Investors are keeping an eye out on any commentary from U.S. monetary policymakers on the recent run-up in yields, which have risen on bets of faster growth and inflation.
OCBC analysts said gains in Asia may be limited ahead of the Federal Open Market Committee's meeting later in the day. They said yield on the benchmark U.S. Treasury note could test 1.7% "should Powell fail to push back on the increases in yields."
By late afternoon, Philippine shares .PSI gave up most of their earlier gains and were last up 0.1%. It follows a sharp fall on Monday when a surge in COVID-19 cases prompted new curbs and renewed worries that the economic recovery would be hit.
China .SSEC and India .NSEI, both recovering from falls on Monday, rose 0.4% each.
The central banks of Indonesia and Taiwan will hold their policy meetings after the Fed statement, which is expected on Thursday morning during Asia hours. Both are expected to keep their key rates unchanged.
The rupiah IDR=, flat on Tuesday, has lost more than 3% since Feb. 16, while the benchmark 10-year government bond yield ID10YT=RR has fallen close to 50 basis points to 6.762%.
Singapore shares .STI edged higher on Tuesday.
Total employment in the city-state shrank the most in more than two decades in 2020, data showed, with foreigners' jobs accounting for most of the decline.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields up 0.4 basis points to 6.762%
** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS led the early gains
** Malaysian palm oil producer FGV jumps nearly 29% after surviving Felda's bid
Asia stock indexes and currencies at 0639 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.02
-5.41
.N225
0.52
9.03
China
CNY=CFXS
+0.04
+0.47
.SSEC
0.39
-1.15
India
INR=IN
-0.01
+0.81
.NSEI
0.37
7.18
Indonesia
IDR=
+0.03
-2.43
.JKSE
0.01
5.79
Malaysia
MYR=
+0.00
-2.19
.KLSE
-0.01
-0.39
Philippines
PHP=
-0.07
-1.10
.PSI
0.10
-8.13
S.Korea
KRW=KFTC
+0.58
-3.85
.KS11
0.70
6.74
Singapore
SGD=
+0.11
-1.75
.STI
0.07
9.29
Taiwan
TWD=TP
-0.03
+0.82
.TWII
0.39
10.73
Thailand
THB=TH
+0.03
-2.44
.SETI
0.38
8.45
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Richard Pullin and Arun Koyyur)
((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Philippine stocks edge higher after sharp fall on Monday U.S. 10-year Treasury yield see a small pullback Federal Reserve's two-day meeting starts later in the day March 16 (Reuters) - South Korea, China and India led Asia's emerging stock markets higher on Tuesday following a rally in Wall Street, although gains were capped ahead of the two-day U.S. Federal Reserve policy meeting. ** Indonesian 10-year benchmark yields up 0.4 basis points to 6.762% ** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS led the early gains ** Malaysian palm oil producer FGV jumps nearly 29% after surviving Felda's bid Asia stock indexes and currencies at 0639 GMT Currencies in the region were flat to slightly higher as the dollar stood firm despite a small pullback in the U.S. benchmark 10-year Treasury yield. | Philippine stocks edge higher after sharp fall on Monday U.S. 10-year Treasury yield see a small pullback Federal Reserve's two-day meeting starts later in the day March 16 (Reuters) - South Korea, China and India led Asia's emerging stock markets higher on Tuesday following a rally in Wall Street, although gains were capped ahead of the two-day U.S. Federal Reserve policy meeting. Currencies in the region were flat to slightly higher as the dollar stood firm despite a small pullback in the U.S. benchmark 10-year Treasury yield. They said yield on the benchmark U.S. Treasury note could test 1.7% "should Powell fail to push back on the increases in yields." | Philippine stocks edge higher after sharp fall on Monday U.S. 10-year Treasury yield see a small pullback Federal Reserve's two-day meeting starts later in the day March 16 (Reuters) - South Korea, China and India led Asia's emerging stock markets higher on Tuesday following a rally in Wall Street, although gains were capped ahead of the two-day U.S. Federal Reserve policy meeting. ** Indonesian 10-year benchmark yields up 0.4 basis points to 6.762% ** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS led the early gains ** Malaysian palm oil producer FGV jumps nearly 29% after surviving Felda's bid Asia stock indexes and currencies at 0639 GMT Currencies in the region were flat to slightly higher as the dollar stood firm despite a small pullback in the U.S. benchmark 10-year Treasury yield. | Philippine stocks edge higher after sharp fall on Monday U.S. 10-year Treasury yield see a small pullback Federal Reserve's two-day meeting starts later in the day March 16 (Reuters) - South Korea, China and India led Asia's emerging stock markets higher on Tuesday following a rally in Wall Street, although gains were capped ahead of the two-day U.S. Federal Reserve policy meeting. Currencies in the region were flat to slightly higher as the dollar stood firm despite a small pullback in the U.S. benchmark 10-year Treasury yield. They said yield on the benchmark U.S. Treasury note could test 1.7% "should Powell fail to push back on the increases in yields." |
35009.0 | 2021-03-16 00:00:00 UTC | EMERGING MARKETS-South Korea leads muted Asian stocks higher ahead of Fed meeting | AC | https://www.nasdaq.com/articles/emerging-markets-south-korea-leads-muted-asian-stocks-higher-ahead-of-fed-meeting-2021-03 | nan | nan | Philippine stocks edge higher after sharp fall on Monday
U.S. 10-year Treasury yield see a small pullback
Federal Reserve's two-day meeting starts later in the day
March 16 (Reuters) - South Korea, China and India led Asia's emerging stock markets higher on Tuesday following a rally in Wall Street, although gains were capped ahead of the two-day U.S. Federal Reserve policy meeting.
Stock market gains were largely subdued at below half a percent, with only South Korea .KS11 adding more.
Currencies in the region were flat to slightly higher as the dollar stood firm despite a small pullback in the U.S. benchmark 10-year Treasury yield.
While the yields US10YT=RR were at 1.59%, off 13-month highs of 1.64% hit on Friday, another spike could sap appetite for Asia's higher-yielding currencies and bonds.
Investors are keeping an eye out on any commentary from U.S. monetary policymakers on the recent run-up in yields, which have risen on bets of faster growth and inflation.
OCBC analysts said gains in Asia may be limited ahead of the Federal Open Market Committee's meeting later in the day. They said yield on the benchmark U.S. Treasury note could test 1.7% "should Powell fail to push back on the increases in yields."
By late afternoon, Philippine shares .PSI gave up most of their earlier gains and were last up 0.1%. It follows a sharp fall on Monday when a surge in COVID-19 cases prompted new curbs and renewed worries that the economic recovery would be hit.
China .SSEC and India .NSEI, both recovering from falls on Monday, rose 0.4% each.
The central banks of Indonesia and Taiwan will hold their policy meetings after the Fed statement, which is expected on Thursday morning during Asia hours. Both are expected to keep their key rates unchanged.
The rupiah IDR=, flat on Tuesday, has lost more than 3% since Feb. 16, while the benchmark 10-year government bond yield ID10YT=RR has fallen close to 50 basis points to 6.762%.
Singapore shares .STI edged higher on Tuesday.
Total employment in the city-state shrank the most in more than two decades in 2020, data showed, with foreigners' jobs accounting for most of the decline.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields up 0.4 basis points to 6.762%
** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS led the early gains
** Malaysian palm oil producer FGV jumps nearly 29% after surviving Felda's bid
Asia stock indexes and currencies at 0639 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.02
-5.41
.N225
0.52
9.03
China
CNY=CFXS
+0.04
+0.47
.SSEC
0.39
-1.15
India
INR=IN
-0.01
+0.81
.NSEI
0.37
7.18
Indonesia
IDR=
+0.03
-2.43
.JKSE
0.01
5.79
Malaysia
MYR=
+0.00
-2.19
.KLSE
-0.01
-0.39
Philippines
PHP=
-0.07
-1.10
.PSI
0.10
-8.13
S.Korea
KRW=KFTC
+0.58
-3.85
.KS11
0.70
6.74
Singapore
SGD=
+0.11
-1.75
.STI
0.07
9.29
Taiwan
TWD=TP
-0.03
+0.82
.TWII
0.39
10.73
Thailand
THB=TH
+0.03
-2.44
.SETI
0.38
8.45
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Richard Pullin and Arun Koyyur)
((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Philippine stocks edge higher after sharp fall on Monday U.S. 10-year Treasury yield see a small pullback Federal Reserve's two-day meeting starts later in the day March 16 (Reuters) - South Korea, China and India led Asia's emerging stock markets higher on Tuesday following a rally in Wall Street, although gains were capped ahead of the two-day U.S. Federal Reserve policy meeting. ** Indonesian 10-year benchmark yields up 0.4 basis points to 6.762% ** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS led the early gains ** Malaysian palm oil producer FGV jumps nearly 29% after surviving Felda's bid Asia stock indexes and currencies at 0639 GMT Currencies in the region were flat to slightly higher as the dollar stood firm despite a small pullback in the U.S. benchmark 10-year Treasury yield. | Philippine stocks edge higher after sharp fall on Monday U.S. 10-year Treasury yield see a small pullback Federal Reserve's two-day meeting starts later in the day March 16 (Reuters) - South Korea, China and India led Asia's emerging stock markets higher on Tuesday following a rally in Wall Street, although gains were capped ahead of the two-day U.S. Federal Reserve policy meeting. Currencies in the region were flat to slightly higher as the dollar stood firm despite a small pullback in the U.S. benchmark 10-year Treasury yield. They said yield on the benchmark U.S. Treasury note could test 1.7% "should Powell fail to push back on the increases in yields." | Philippine stocks edge higher after sharp fall on Monday U.S. 10-year Treasury yield see a small pullback Federal Reserve's two-day meeting starts later in the day March 16 (Reuters) - South Korea, China and India led Asia's emerging stock markets higher on Tuesday following a rally in Wall Street, although gains were capped ahead of the two-day U.S. Federal Reserve policy meeting. ** Indonesian 10-year benchmark yields up 0.4 basis points to 6.762% ** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS led the early gains ** Malaysian palm oil producer FGV jumps nearly 29% after surviving Felda's bid Asia stock indexes and currencies at 0639 GMT Currencies in the region were flat to slightly higher as the dollar stood firm despite a small pullback in the U.S. benchmark 10-year Treasury yield. | Philippine stocks edge higher after sharp fall on Monday U.S. 10-year Treasury yield see a small pullback Federal Reserve's two-day meeting starts later in the day March 16 (Reuters) - South Korea, China and India led Asia's emerging stock markets higher on Tuesday following a rally in Wall Street, although gains were capped ahead of the two-day U.S. Federal Reserve policy meeting. Currencies in the region were flat to slightly higher as the dollar stood firm despite a small pullback in the U.S. benchmark 10-year Treasury yield. They said yield on the benchmark U.S. Treasury note could test 1.7% "should Powell fail to push back on the increases in yields." |
35010.0 | 2021-03-16 00:00:00 UTC | EMERGING MARKETS-Philippines leads Asian stocks higher on Wall Street boost | AC | https://www.nasdaq.com/articles/emerging-markets-philippines-leads-asian-stocks-higher-on-wall-street-boost-2021-03-16-0 | nan | nan | Philippine stocks rise 0.6%, after falling sharply on Monday
U.S. 10-year bond yields pullback
Fed two-day meeting starts later
March 16 (Reuters) - The Philippines led most of Asia's emerging stock markets higher on Tuesday on the back of record highs for Wall Street's main indexes, although gains were capped ahead of the Federal Reserve's policy meeting this week.
Stock market gains were generally below half a percent, with only the Philippines .PSI slightly outperforming with a 0.6% rise after a sharp fall in the previous session when a surge in COVID-19 cases prompted new local restrictions.
A slight pullback in U.S. bond yields also supported appetite for the region's currencies ahead of a two-day U.S. central bank meeting ending on Wednesday where the focus will be on any comments about the run-up in yields, which have risen on bets of faster growth and inflation.
Yields on U.S. 10-year Treasuries US10YT=RR were trading at 1.59%, off 13-month highs of 1.64% hit on Friday. A further rise could sap appetite for higher-yielding emerging markets in Asia.
Asian market "gains may be limited ahead of the FOMC (Federal Open Market Committee) meeting later this week," OCBC Bank analysts said in a note.
Following the Fed statement, the central banks of Indonesia and Taiwan will hold their policy meetings on Thursday.
The rupiah IDR=, which edged higher on Tuesday, has lost more than 3% since Feb. 16, while Indonesia's benchmark 10-year government bond yield ID10YT=RR has risen 51 basis points to 6.794%.
Bank Indonesia is widely expected to keep rates unchanged, according to a Reuters poll.
Singapore shares .STI, which have been trading at around one-year highs, dipped on Tuesday.
Total employment in the city-state shrank the most in more than two decades in 2020, data showed, with foreigners' jobs accounting for most of the decline.
Shanghai's composite index .SSEC rose 0.2%, while South Korean shares .KS11 advanced 0.6%.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields up 3.59 basis points at 6.794%
** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS rose the most
** Malaysian palm oil producer FGV jumps nearly 25% after surviving Felda's bid
Asia stock indexes and currencies at 0345 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.03
-5.41
.N225
0.64
9.16
China
CNY=CFXS
+0.04
+0.46
.SSEC
0.24
-1.30
India
INR=IN
+0.00
+0.82
.NSEI
0.00
6.78
Indonesia
IDR=
+0.03
-2.43
.JKSE
0.16
5.95
Malaysia
MYR=
-0.04
-2.23
.KLSE
0.06
-0.33
Philippines
PHP=
-0.03
-1.06
.PSI
0.59
-7.68
S.Korea
KRW=KFTC
+0.49
-3.94
.KS11
0.57
6.60
Singapore
SGD=
+0.14
-1.72
.STI
-0.14
9.07
Taiwan
TWD=TP
+0.08
+0.93
.TWII
0.13
10.44
Thailand
THB=TH
+0.03
-2.44
.SETI
0.03
8.07
(Reporting by Nikhil Kurian Nainan in Bengaluru; editing by Richard Pullin)
((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Philippine stocks rise 0.6%, after falling sharply on Monday U.S. 10-year bond yields pullback Fed two-day meeting starts later March 16 (Reuters) - The Philippines led most of Asia's emerging stock markets higher on Tuesday on the back of record highs for Wall Street's main indexes, although gains were capped ahead of the Federal Reserve's policy meeting this week. ** Indonesian 10-year benchmark yields up 3.59 basis points at 6.794% ** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS rose the most ** Malaysian palm oil producer FGV jumps nearly 25% after surviving Felda's bid Asia stock indexes and currencies at 0345 GMT A slight pullback in U.S. bond yields also supported appetite for the region's currencies ahead of a two-day U.S. central bank meeting ending on Wednesday where the focus will be on any comments about the run-up in yields, which have risen on bets of faster growth and inflation. | Philippine stocks rise 0.6%, after falling sharply on Monday U.S. 10-year bond yields pullback Fed two-day meeting starts later March 16 (Reuters) - The Philippines led most of Asia's emerging stock markets higher on Tuesday on the back of record highs for Wall Street's main indexes, although gains were capped ahead of the Federal Reserve's policy meeting this week. A slight pullback in U.S. bond yields also supported appetite for the region's currencies ahead of a two-day U.S. central bank meeting ending on Wednesday where the focus will be on any comments about the run-up in yields, which have risen on bets of faster growth and inflation. Bank Indonesia is widely expected to keep rates unchanged, according to a Reuters poll. | Philippine stocks rise 0.6%, after falling sharply on Monday U.S. 10-year bond yields pullback Fed two-day meeting starts later March 16 (Reuters) - The Philippines led most of Asia's emerging stock markets higher on Tuesday on the back of record highs for Wall Street's main indexes, although gains were capped ahead of the Federal Reserve's policy meeting this week. A slight pullback in U.S. bond yields also supported appetite for the region's currencies ahead of a two-day U.S. central bank meeting ending on Wednesday where the focus will be on any comments about the run-up in yields, which have risen on bets of faster growth and inflation. ** Indonesian 10-year benchmark yields up 3.59 basis points at 6.794% ** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS rose the most ** Malaysian palm oil producer FGV jumps nearly 25% after surviving Felda's bid Asia stock indexes and currencies at 0345 GMT | Philippine stocks rise 0.6%, after falling sharply on Monday U.S. 10-year bond yields pullback Fed two-day meeting starts later March 16 (Reuters) - The Philippines led most of Asia's emerging stock markets higher on Tuesday on the back of record highs for Wall Street's main indexes, although gains were capped ahead of the Federal Reserve's policy meeting this week. A slight pullback in U.S. bond yields also supported appetite for the region's currencies ahead of a two-day U.S. central bank meeting ending on Wednesday where the focus will be on any comments about the run-up in yields, which have risen on bets of faster growth and inflation. Bank Indonesia is widely expected to keep rates unchanged, according to a Reuters poll. |
35011.0 | 2021-03-16 00:00:00 UTC | EMERGING MARKETS-Philippines leads Asian stocks higher on Wall Street boost | AC | https://www.nasdaq.com/articles/emerging-markets-philippines-leads-asian-stocks-higher-on-wall-street-boost-2021-03-16 | nan | nan | Philippine stocks rise 0.6%, after falling sharply on Monday
U.S. 10-year bond yields pullback
Fed two-day meeting starts later
March 16 (Reuters) - The Philippines led most of Asia's emerging stock markets higher on Tuesday on the back of record highs for Wall Street's main indexes, although gains were capped ahead of the Federal Reserve's policy meeting this week.
Stock market gains were generally below half a percent, with only the Philippines .PSI slightly outperforming with a 0.6% rise after a sharp fall in the previous session when a surge in COVID-19 cases prompted new local restrictions.
A slight pullback in U.S. bond yields also supported appetite for the region's currencies ahead of a two-day U.S. central bank meeting ending on Wednesday where the focus will be on any comments about the run-up in yields, which have risen on bets of faster growth and inflation.
Yields on U.S. 10-year Treasuries US10YT=RR were trading at 1.59%, off 13-month highs of 1.64% hit on Friday. A further rise could sap appetite for higher-yielding emerging markets in Asia.
Asian market "gains may be limited ahead of the FOMC (Federal Open Market Committee) meeting later this week," OCBC Bank analysts said in a note.
Following the Fed statement, the central banks of Indonesia and Taiwan will hold their policy meetings on Thursday.
The rupiah IDR=, which edged higher on Tuesday, has lost more than 3% since Feb. 16, while Indonesia's benchmark 10-year government bond yield ID10YT=RR has risen 51 basis points to 6.794%.
Bank Indonesia is widely expected to keep rates unchanged, according to a Reuters poll.
Singapore shares .STI, which have been trading at around one-year highs, dipped on Tuesday.
Total employment in the city-state shrank the most in more than two decades in 2020, data showed, with foreigners' jobs accounting for most of the decline.
Shanghai's composite index .SSEC rose 0.2%, while South Korean shares .KS11 advanced 0.6%.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields up 3.59 basis points at 6.794%
** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS rose the most
** Malaysian palm oil producer FGV jumps nearly 25% after surviving Felda's bid
Asia stock indexes and currencies at 0345 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.03
-5.41
.N225
0.64
9.16
China
CNY=CFXS
+0.04
+0.46
.SSEC
0.24
-1.30
India
INR=IN
+0.00
+0.82
.NSEI
0.00
6.78
Indonesia
IDR=
+0.03
-2.43
.JKSE
0.16
5.95
Malaysia
MYR=
-0.04
-2.23
.KLSE
0.06
-0.33
Philippines
PHP=
-0.03
-1.06
.PSI
0.59
-7.68
S.Korea
KRW=KFTC
+0.49
-3.94
.KS11
0.57
6.60
Singapore
SGD=
+0.14
-1.72
.STI
-0.14
9.07
Taiwan
TWD=TP
+0.08
+0.93
.TWII
0.13
10.44
Thailand
THB=TH
+0.03
-2.44
.SETI
0.03
8.07
(Reporting by Nikhil Kurian Nainan in Bengaluru; editing by Richard Pullin)
((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Philippine stocks rise 0.6%, after falling sharply on Monday U.S. 10-year bond yields pullback Fed two-day meeting starts later March 16 (Reuters) - The Philippines led most of Asia's emerging stock markets higher on Tuesday on the back of record highs for Wall Street's main indexes, although gains were capped ahead of the Federal Reserve's policy meeting this week. ** Indonesian 10-year benchmark yields up 3.59 basis points at 6.794% ** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS rose the most ** Malaysian palm oil producer FGV jumps nearly 25% after surviving Felda's bid Asia stock indexes and currencies at 0345 GMT A slight pullback in U.S. bond yields also supported appetite for the region's currencies ahead of a two-day U.S. central bank meeting ending on Wednesday where the focus will be on any comments about the run-up in yields, which have risen on bets of faster growth and inflation. | Philippine stocks rise 0.6%, after falling sharply on Monday U.S. 10-year bond yields pullback Fed two-day meeting starts later March 16 (Reuters) - The Philippines led most of Asia's emerging stock markets higher on Tuesday on the back of record highs for Wall Street's main indexes, although gains were capped ahead of the Federal Reserve's policy meeting this week. A slight pullback in U.S. bond yields also supported appetite for the region's currencies ahead of a two-day U.S. central bank meeting ending on Wednesday where the focus will be on any comments about the run-up in yields, which have risen on bets of faster growth and inflation. Bank Indonesia is widely expected to keep rates unchanged, according to a Reuters poll. | Philippine stocks rise 0.6%, after falling sharply on Monday U.S. 10-year bond yields pullback Fed two-day meeting starts later March 16 (Reuters) - The Philippines led most of Asia's emerging stock markets higher on Tuesday on the back of record highs for Wall Street's main indexes, although gains were capped ahead of the Federal Reserve's policy meeting this week. A slight pullback in U.S. bond yields also supported appetite for the region's currencies ahead of a two-day U.S. central bank meeting ending on Wednesday where the focus will be on any comments about the run-up in yields, which have risen on bets of faster growth and inflation. ** Indonesian 10-year benchmark yields up 3.59 basis points at 6.794% ** Aboitiz Equity Ventures, Bank of the Philippine Islands BPI.PS and Ayala Corp AC.PS rose the most ** Malaysian palm oil producer FGV jumps nearly 25% after surviving Felda's bid Asia stock indexes and currencies at 0345 GMT | Philippine stocks rise 0.6%, after falling sharply on Monday U.S. 10-year bond yields pullback Fed two-day meeting starts later March 16 (Reuters) - The Philippines led most of Asia's emerging stock markets higher on Tuesday on the back of record highs for Wall Street's main indexes, although gains were capped ahead of the Federal Reserve's policy meeting this week. A slight pullback in U.S. bond yields also supported appetite for the region's currencies ahead of a two-day U.S. central bank meeting ending on Wednesday where the focus will be on any comments about the run-up in yields, which have risen on bets of faster growth and inflation. Bank Indonesia is widely expected to keep rates unchanged, according to a Reuters poll. |
35012.0 | 2021-03-15 00:00:00 UTC | EMERGING MARKETS-Philippine shares slide on surging cases; China and India drop over 1% | AC | https://www.nasdaq.com/articles/emerging-markets-philippine-shares-slide-on-surging-cases-china-and-india-drop-over-1-2021 | nan | nan | By Nikhil Nainan
March 15 (Reuters) - Philippine shares fell sharply on Monday, as rising COVID-19 cases prompted new local restrictions, while the latest rise in U.S. bond yields quelled appetite for the region's other emerging markets.
Stocks in India .NSEI and China .SSEC fell more than 1%, while in Southeast Asia, Singapore .STI and Malaysia .KLSE eked out gains as the $1,400 direct payments from the $1.9 trillion U.S. package make their way to households.
Yields on U.S. 10-year Treasuries US10YT=RR hit 13-month highs above 1.64% on Friday, sapping appetite for Asia's high-yielding bonds, and the currencies that back them, as well as for frothy equity valuations. US/
The region's emerging currencies dipped, with South Korea's won KRW=KFTC falling the most at 0.2%.
In the Philippines, a worrying surge in COVID-19 cases sent shares .PSI falling as much as 3.6%, their sharpest drop since August. They recovered slightly toward the end of the trading session, down 2.6%, though remained at more than four-month lows.
The spike in cases has prompted parts of the country to reimpose restrictions, including in the capital Manila.
"Sentiment is weighed down by the dramatic increase in COVID-19 infections as of late," said Jennifer Lomboy, a Manila-based fixed income fund manager at First Metro Asset.
She added that this "clouds the country's economic recovery."
Vaccine supply has also been limited in the Southeast Asian nation so far, with only frontline medical staff and healthcare workers being given shots in an inoculation campaign that started this month.
Shanghai's composite index .SSEC fell 1.3% and blue-chip stocks .CSI300 3% on concerns that authorities may look to tighten policy to keep things from overheating. The composite index is down around 8% from February highs.
Earlier this month, the government set a relatively modest 2021 target of over 6% growth for the world's second largest economy. .SS
Stocks in the trade-reliant economies of South Korea .KS11 and Taiwan .TWII dipped, after rising sharply in recent months on global growth hopes.
The U.S. Federal Reserve's two-day meeting will end on Wednesday, with investors on the lookout for any sign that rising inflation expectations will bring forward policy tightening.
Central banks of Indonesia and Taiwan also have their policy review meetings this week.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields up 5.1 basis points at 6.774%
** In the Philippines, the top losers were Alliance Global Group Inc AGI.PS, Ayala Corp AC.PS Megaworld Corp MEG.PS down
** China's factory output surges as recovery accelerates
Asia stock indexes and currencies at 0650 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.25
-5.55
.N225
0.17
8.46
China
CNY=CFXS
+0.04
+0.34
.SSEC
-1.27
-1.84
India
INR=IN
+0.15
+0.54
.NSEI
-1.34
6.06
Indonesia
IDR=
-0.07
-2.43
.JKSE
-0.30
6.02
Malaysia
MYR=
-0.02
-2.36
.KLSE
0.40
-0.31
Philippines
PHP=
-0.05
-1.02
.PSI
-2.62
-8.23
S.Korea
KRW=KFTC
-0.22
-4.41
.KS11
-0.28
5.99
Singapore
SGD=
-0.16
-1.94
.STI
0.20
9.06
Taiwan
TWD=TP
-0.19
+0.85
.TWII
-0.04
10.30
Thailand
THB=TH
+0.07
-2.57
.SETI
-0.03
8.17
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Simon Cameron-Moore and Rashmi Aich)
((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks in India .NSEI and China .SSEC fell more than 1%, while in Southeast Asia, Singapore .STI and Malaysia .KLSE eked out gains as the $1,400 direct payments from the $1.9 trillion U.S. package make their way to households. Vaccine supply has also been limited in the Southeast Asian nation so far, with only frontline medical staff and healthcare workers being given shots in an inoculation campaign that started this month. Yields on U.S. 10-year Treasuries US10YT=RR hit 13-month highs above 1.64% on Friday, sapping appetite for Asia's high-yielding bonds, and the currencies that back them, as well as for frothy equity valuations. | Stocks in India .NSEI and China .SSEC fell more than 1%, while in Southeast Asia, Singapore .STI and Malaysia .KLSE eked out gains as the $1,400 direct payments from the $1.9 trillion U.S. package make their way to households. Yields on U.S. 10-year Treasuries US10YT=RR hit 13-month highs above 1.64% on Friday, sapping appetite for Asia's high-yielding bonds, and the currencies that back them, as well as for frothy equity valuations. Vaccine supply has also been limited in the Southeast Asian nation so far, with only frontline medical staff and healthcare workers being given shots in an inoculation campaign that started this month. | Stocks in India .NSEI and China .SSEC fell more than 1%, while in Southeast Asia, Singapore .STI and Malaysia .KLSE eked out gains as the $1,400 direct payments from the $1.9 trillion U.S. package make their way to households. ** Indonesian 10-year benchmark yields up 5.1 basis points at 6.774% ** In the Philippines, the top losers were Alliance Global Group Inc AGI.PS, Ayala Corp AC.PS Megaworld Corp MEG.PS down ** China's factory output surges as recovery accelerates Asia stock indexes and currencies at 0650 GMT Yields on U.S. 10-year Treasuries US10YT=RR hit 13-month highs above 1.64% on Friday, sapping appetite for Asia's high-yielding bonds, and the currencies that back them, as well as for frothy equity valuations. | Stocks in India .NSEI and China .SSEC fell more than 1%, while in Southeast Asia, Singapore .STI and Malaysia .KLSE eked out gains as the $1,400 direct payments from the $1.9 trillion U.S. package make their way to households. Yields on U.S. 10-year Treasuries US10YT=RR hit 13-month highs above 1.64% on Friday, sapping appetite for Asia's high-yielding bonds, and the currencies that back them, as well as for frothy equity valuations. Vaccine supply has also been limited in the Southeast Asian nation so far, with only frontline medical staff and healthcare workers being given shots in an inoculation campaign that started this month. |
35013.0 | 2021-03-11 00:00:00 UTC | CANADA STOCKS - TSX rises 0.79% to 18,837.40 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.79-to-18837.40-2021-03-11 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.79 percent to 18,837.40
* Leading the index were Linamar Corp , up 10.8%, Ballard Power Systems Inc BLDP.TO, up 10.1%, and Aphria Inc APHA.TO, higher by 9.9%.
* Lagging shares were Ivanhoe Mines Ltd IVN.TO, down 10.9%, Artis Real Estate Investment Trust AX_u.TO, down 4.3%, and Osisko Mining Inc OSK.TO, lower by 3.6%.
* On the TSX 153 issues rose and 63 fell as a 2.4-to-1 ratio favored advancers. There were 37 new highs and no new lows, with total volume of 185.7 million shares.
* The most heavily traded shares by volume were Ivanhoe Mines Ltd IVN.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN rose 1.14 points, or 0.9%, while the financials sector .SPTTFS climbed 0.32 points, or 0.1%.
* West Texas Intermediate crude futures CLc1 rose 2.62%, or $1.69, to $66.13 a barrel. Brent crude LCOc1 rose 2.74%, or $1.86, to $69.76 O/R
* The TSX is up 8.1% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Ivanhoe Mines Ltd IVN.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.79 percent to 18,837.40 * Leading the index were Linamar Corp , up 10.8%, Ballard Power Systems Inc BLDP.TO, up 10.1%, and Aphria Inc APHA.TO, higher by 9.9%. * On the TSX 153 issues rose and 63 fell as a 2.4-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Ivanhoe Mines Ltd IVN.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * Lagging shares were Ivanhoe Mines Ltd IVN.TO, down 10.9%, Artis Real Estate Investment Trust AX_u.TO, down 4.3%, and Osisko Mining Inc OSK.TO, lower by 3.6%. * The TSX's energy group .SPTTEN rose 1.14 points, or 0.9%, while the financials sector .SPTTFS climbed 0.32 points, or 0.1%. | * The most heavily traded shares by volume were Ivanhoe Mines Ltd IVN.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * Lagging shares were Ivanhoe Mines Ltd IVN.TO, down 10.9%, Artis Real Estate Investment Trust AX_u.TO, down 4.3%, and Osisko Mining Inc OSK.TO, lower by 3.6%. * The TSX's energy group .SPTTEN rose 1.14 points, or 0.9%, while the financials sector .SPTTFS climbed 0.32 points, or 0.1%. | * The most heavily traded shares by volume were Ivanhoe Mines Ltd IVN.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.79 percent to 18,837.40 * Leading the index were Linamar Corp , up 10.8%, Ballard Power Systems Inc BLDP.TO, up 10.1%, and Aphria Inc APHA.TO, higher by 9.9%. * On the TSX 153 issues rose and 63 fell as a 2.4-to-1 ratio favored advancers. |
35014.0 | 2021-03-08 00:00:00 UTC | CANADA STOCKS - TSX rises 0.6% to 18,490.76 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.6-to-18490.76-2021-03-08 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.60 percent to 18,490.76
* Leading the index were Mullen Group Ltd , up 8.0%, Sprott Inc SII.TO, up 6.5%, and Ero Copper Corp ERO.TO, higher by 5.4%.
* Lagging shares were Lightspeed POS Inc LSPD.TO, down 7.4%, Ballard Power Systems Inc BLDP.TO, down 5.5%, and Hudbay Minerals Inc HBM.TO, lower by 4.3%.
* On the TSX 138 issues rose and 79 fell as a 1.7-to-1 ratio favored advancers. There were 36 new highs and no new lows, with total volume of 198.4 million shares.
* The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Cenovus Energy Inc CVE.TO.
* The TSX's energy group .SPTTEN fell 0.89 points, or 0.7%, while the financials sector .SPTTFS climbed 5.15 points, or 1.5%.
* West Texas Intermediate crude futures CLc1 fell 2.13%, or $1.41, to $64.68 a barrel. Brent crude LCOc1 fell 2.06%, or $1.43, to $67.93 O/R
* The TSX is up 6.1% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX rises 0.60 percent to 18,490.76 * Leading the index were Mullen Group Ltd , up 8.0%, Sprott Inc SII.TO, up 6.5%, and Ero Copper Corp ERO.TO, higher by 5.4%. * Lagging shares were Lightspeed POS Inc LSPD.TO, down 7.4%, Ballard Power Systems Inc BLDP.TO, down 5.5%, and Hudbay Minerals Inc HBM.TO, lower by 4.3%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Cenovus Energy Inc CVE.TO. * The TSX's energy group .SPTTEN fell 0.89 points, or 0.7%, while the financials sector .SPTTFS climbed 5.15 points, or 1.5%. Brent crude LCOc1 fell 2.06%, or $1.43, to $67.93 O/R * The TSX is up 6.1% for the year. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX rises 0.60 percent to 18,490.76 * Leading the index were Mullen Group Ltd , up 8.0%, Sprott Inc SII.TO, up 6.5%, and Ero Copper Corp ERO.TO, higher by 5.4%. * The TSX's energy group .SPTTEN fell 0.89 points, or 0.7%, while the financials sector .SPTTFS climbed 5.15 points, or 1.5%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX rises 0.60 percent to 18,490.76 * Leading the index were Mullen Group Ltd , up 8.0%, Sprott Inc SII.TO, up 6.5%, and Ero Copper Corp ERO.TO, higher by 5.4%. * Lagging shares were Lightspeed POS Inc LSPD.TO, down 7.4%, Ballard Power Systems Inc BLDP.TO, down 5.5%, and Hudbay Minerals Inc HBM.TO, lower by 4.3%. |
35015.0 | 2021-03-01 00:00:00 UTC | EMERGING MARKETS-Indonesia, Philippine shares climb 1% as bond markets calm | AC | https://www.nasdaq.com/articles/emerging-markets-indonesia-philippine-shares-climb-1-as-bond-markets-calm-2021-03-01-0 | nan | nan | Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
China Feb PMI grew at slowest pace in nine months
China's growth remains fairly robust - Capital Economics
Glove makers drag down Malaysian shares
March 1 (Reuters) - Indonesia, Singapore and Philippine stocks climbed about 1% on Monday as bond markets ended last week on a calmer note and regional manufacturing activity indicated that a gradual recovery was still on track.
In Mumbai, shares .NSEI climbed 1.2% after India's economy returned to growth in the December quarter and the country kicked off an expanded COVID-19 vaccination drive, with investors betting on a faster economic recovery. .BO
A slew of data on Monday showed manufacturing activity in Indonesia and the Philippines was still in expansion territory while Japan figures showed the fastest growth in over two years. Factory activity in China, though, missed forecasts in February as a spike in COVID-19 cases led to lockdowns in parts of the country.
"The big picture, supported by the latest figures, is that China's growth remains fairly robust," Capital Economics said after the China data, which came over the weekend.
The moves on Monday followed a wild ride last week that saw U.S. 10-year bond yields US10YT=TWEB peak at 1.61% before ending the week at 1.41%, easing pressure on Asia's debt markets and equity valuations. The yields were at about 1.41% on Monday.
"This is, for now, likely to be a modest wobble," analysts at HSBC wrote in a note, adding that "as long as Asian earnings remain strong and bond yields remain low, the outlook remains positive."
The yield on Indonesia's benchmark 10-year notes ID10YT=RR largely gave up earlier gains and fell 0.89 basis point to 6.589%. The rupiah IDR= dipped 0.3% to its lowest since early November.
Indonesia's debt offers some of the highest real yields in emerging markets.
Barclays said in a note dollar demand, including for hedging, "is likely to remain elevated as market participants reduce risk," noting foreign investors sold 13.5 trillion rupiah worth of bonds last week, unwinding the bulk of 2021 purchases.
Meanwhile, Malaysian shares .KLSE dipped 0.3% as glove makers, one of the biggest benefactors of the pandemic, fell sharply.
Top Glove Corp TPGC.KL, the world's top disposable medical glove maker, announced plans on Friday to raise HK$14.95 billion through a secondary listing in Hong Kong, a move that CGS-CIMB said would dilute earnings per share and was avoidable given that earnings over the next year were expected to be strong.
Markets in South Korea and Taiwan were closed for a public holiday.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields up 6.5 basis points at 6.664%, 3-year yields up 4.5 basis points at 5.475%
** Emperador Inc EMP.PS led gains in the Philippines while conglomerate Ayala Corp AC.PS rose 4.28%
** Supermax Corp SUPM.KL, Hartalega Holdings Bhd HTHB.KL Top Glove Corp TPGC.KL led losses in Malaysia
** Singapore Airlines Ltd SIAL.SI jumped 5.42%
Asia stock indexes and currencies at 0644 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
+0.01
-3.12
.N225
2.41
8.09
China
CNY=CFXS
+0.05
+0.98
.SSEC
0.88
1.93
India
INR=IN
+0.29
-0.26
.NSEI
1.18
5.14
Indonesia
IDR=
-0.32
-1.72
.JKSE
1.08
5.52
Malaysia
MYR=
+0.00
-0.79
.KLSE
-0.33
-3.36
Philippines
PHP=
+0.23
-1.25
.PSI
1.15
-3.74
S.Korea
KRW=KFTC
-
-3.32
.KS11
-
4.85
Singapore
SGD=
+0.17
-0.62
.STI
0.98
4.72
Taiwan
TWD=TP
-
+0.63
.TWII
-
8.29
Thailand
THB=TH
-0.43
-0.99
.SETI
0.12
3.40
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Jacqueline Wong and Subhranshu Sahu)
((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Graphic: World FX rates https://tmsnrt.rs/2RBWI5E China Feb PMI grew at slowest pace in nine months China's growth remains fairly robust - Capital Economics Glove makers drag down Malaysian shares March 1 (Reuters) - Indonesia, Singapore and Philippine stocks climbed about 1% on Monday as bond markets ended last week on a calmer note and regional manufacturing activity indicated that a gradual recovery was still on track. In Mumbai, shares .NSEI climbed 1.2% after India's economy returned to growth in the December quarter and the country kicked off an expanded COVID-19 vaccination drive, with investors betting on a faster economic recovery. .BO A slew of data on Monday showed manufacturing activity in Indonesia and the Philippines was still in expansion territory while Japan figures showed the fastest growth in over two years. | Graphic: World FX rates https://tmsnrt.rs/2RBWI5E China Feb PMI grew at slowest pace in nine months China's growth remains fairly robust - Capital Economics Glove makers drag down Malaysian shares March 1 (Reuters) - Indonesia, Singapore and Philippine stocks climbed about 1% on Monday as bond markets ended last week on a calmer note and regional manufacturing activity indicated that a gradual recovery was still on track. ** Indonesian 10-year benchmark yields up 6.5 basis points at 6.664%, 3-year yields up 4.5 basis points at 5.475% ** Emperador Inc EMP.PS led gains in the Philippines while conglomerate Ayala Corp AC.PS rose 4.28% ** Supermax Corp SUPM.KL, Hartalega Holdings Bhd HTHB.KL Top Glove Corp TPGC.KL led losses in Malaysia ** Singapore Airlines Ltd SIAL.SI jumped 5.42% Asia stock indexes and currencies at 0644 GMT In Mumbai, shares .NSEI climbed 1.2% after India's economy returned to growth in the December quarter and the country kicked off an expanded COVID-19 vaccination drive, with investors betting on a faster economic recovery. | Graphic: World FX rates https://tmsnrt.rs/2RBWI5E China Feb PMI grew at slowest pace in nine months China's growth remains fairly robust - Capital Economics Glove makers drag down Malaysian shares March 1 (Reuters) - Indonesia, Singapore and Philippine stocks climbed about 1% on Monday as bond markets ended last week on a calmer note and regional manufacturing activity indicated that a gradual recovery was still on track. .BO A slew of data on Monday showed manufacturing activity in Indonesia and the Philippines was still in expansion territory while Japan figures showed the fastest growth in over two years. ** Indonesian 10-year benchmark yields up 6.5 basis points at 6.664%, 3-year yields up 4.5 basis points at 5.475% ** Emperador Inc EMP.PS led gains in the Philippines while conglomerate Ayala Corp AC.PS rose 4.28% ** Supermax Corp SUPM.KL, Hartalega Holdings Bhd HTHB.KL Top Glove Corp TPGC.KL led losses in Malaysia ** Singapore Airlines Ltd SIAL.SI jumped 5.42% Asia stock indexes and currencies at 0644 GMT | Graphic: World FX rates https://tmsnrt.rs/2RBWI5E China Feb PMI grew at slowest pace in nine months China's growth remains fairly robust - Capital Economics Glove makers drag down Malaysian shares March 1 (Reuters) - Indonesia, Singapore and Philippine stocks climbed about 1% on Monday as bond markets ended last week on a calmer note and regional manufacturing activity indicated that a gradual recovery was still on track. .BO A slew of data on Monday showed manufacturing activity in Indonesia and the Philippines was still in expansion territory while Japan figures showed the fastest growth in over two years. ** Indonesian 10-year benchmark yields up 6.5 basis points at 6.664%, 3-year yields up 4.5 basis points at 5.475% ** Emperador Inc EMP.PS led gains in the Philippines while conglomerate Ayala Corp AC.PS rose 4.28% ** Supermax Corp SUPM.KL, Hartalega Holdings Bhd HTHB.KL Top Glove Corp TPGC.KL led losses in Malaysia ** Singapore Airlines Ltd SIAL.SI jumped 5.42% Asia stock indexes and currencies at 0644 GMT |
35016.0 | 2021-03-01 00:00:00 UTC | EMERGING MARKETS-Indonesia, Philippine shares climb 1% as bond markets calm | AC | https://www.nasdaq.com/articles/emerging-markets-indonesia-philippine-shares-climb-1-as-bond-markets-calm-2021-03-01 | nan | nan | Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
China Feb PMI grew at slowest pace in nine months
China's growth remains fairly robust - Capital Economics
Glove makers drag down Malaysian shares
March 1 (Reuters) - Indonesia, Singapore and Philippine stocks climbed about 1% on Monday as bond markets ended last week on a calmer note and regional manufacturing activity indicated that a gradual recovery was still on track.
In Mumbai, shares .NSEI climbed 1.2% after India's economy returned to growth in the December quarter and the country kicked off an expanded COVID-19 vaccination drive, with investors betting on a faster economic recovery. .BO
A slew of data on Monday showed manufacturing activity in Indonesia and the Philippines was still in expansion territory while Japan figures showed the fastest growth in over two years. Factory activity in China, though, missed forecasts in February as a spike in COVID-19 cases led to lockdowns in parts of the country.
"The big picture, supported by the latest figures, is that China's growth remains fairly robust," Capital Economics said after the China data, which came over the weekend.
The moves on Monday followed a wild ride last week that saw U.S. 10-year bond yields US10YT=TWEB peak at 1.61% before ending the week at 1.41%, easing pressure on Asia's debt markets and equity valuations. The yields were at about 1.41% on Monday.
"This is, for now, likely to be a modest wobble," analysts at HSBC wrote in a note, adding that "as long as Asian earnings remain strong and bond yields remain low, the outlook remains positive."
The yield on Indonesia's benchmark 10-year notes ID10YT=RR largely gave up earlier gains and fell 0.89 basis point to 6.589%. The rupiah IDR= dipped 0.3% to its lowest since early November.
Indonesia's debt offers some of the highest real yields in emerging markets.
Barclays said in a note dollar demand, including for hedging, "is likely to remain elevated as market participants reduce risk," noting foreign investors sold 13.5 trillion rupiah worth of bonds last week, unwinding the bulk of 2021 purchases.
Meanwhile, Malaysian shares .KLSE dipped 0.3% as glove makers, one of the biggest benefactors of the pandemic, fell sharply.
Top Glove Corp TPGC.KL, the world's top disposable medical glove maker, announced plans on Friday to raise HK$14.95 billion through a secondary listing in Hong Kong, a move that CGS-CIMB said would dilute earnings per share and was avoidable given that earnings over the next year were expected to be strong.
Markets in South Korea and Taiwan were closed for a public holiday.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields up 6.5 basis points at 6.664%, 3-year yields up 4.5 basis points at 5.475%
** Emperador Inc EMP.PS led gains in the Philippines while conglomerate Ayala Corp AC.PS rose 4.28%
** Supermax Corp SUPM.KL, Hartalega Holdings Bhd HTHB.KL Top Glove Corp TPGC.KL led losses in Malaysia
** Singapore Airlines Ltd SIAL.SI jumped 5.42%
Asia stock indexes and currencies at 0644 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
+0.01
-3.12
.N225
2.41
8.09
China
CNY=CFXS
+0.05
+0.98
.SSEC
0.88
1.93
India
INR=IN
+0.29
-0.26
.NSEI
1.18
5.14
Indonesia
IDR=
-0.32
-1.72
.JKSE
1.08
5.52
Malaysia
MYR=
+0.00
-0.79
.KLSE
-0.33
-3.36
Philippines
PHP=
+0.23
-1.25
.PSI
1.15
-3.74
S.Korea
KRW=KFTC
-
-3.32
.KS11
-
4.85
Singapore
SGD=
+0.17
-0.62
.STI
0.98
4.72
Taiwan
TWD=TP
-
+0.63
.TWII
-
8.29
Thailand
THB=TH
-0.43
-0.99
.SETI
0.12
3.40
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Jacqueline Wong and Subhranshu Sahu)
((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Graphic: World FX rates https://tmsnrt.rs/2RBWI5E China Feb PMI grew at slowest pace in nine months China's growth remains fairly robust - Capital Economics Glove makers drag down Malaysian shares March 1 (Reuters) - Indonesia, Singapore and Philippine stocks climbed about 1% on Monday as bond markets ended last week on a calmer note and regional manufacturing activity indicated that a gradual recovery was still on track. In Mumbai, shares .NSEI climbed 1.2% after India's economy returned to growth in the December quarter and the country kicked off an expanded COVID-19 vaccination drive, with investors betting on a faster economic recovery. .BO A slew of data on Monday showed manufacturing activity in Indonesia and the Philippines was still in expansion territory while Japan figures showed the fastest growth in over two years. | Graphic: World FX rates https://tmsnrt.rs/2RBWI5E China Feb PMI grew at slowest pace in nine months China's growth remains fairly robust - Capital Economics Glove makers drag down Malaysian shares March 1 (Reuters) - Indonesia, Singapore and Philippine stocks climbed about 1% on Monday as bond markets ended last week on a calmer note and regional manufacturing activity indicated that a gradual recovery was still on track. ** Indonesian 10-year benchmark yields up 6.5 basis points at 6.664%, 3-year yields up 4.5 basis points at 5.475% ** Emperador Inc EMP.PS led gains in the Philippines while conglomerate Ayala Corp AC.PS rose 4.28% ** Supermax Corp SUPM.KL, Hartalega Holdings Bhd HTHB.KL Top Glove Corp TPGC.KL led losses in Malaysia ** Singapore Airlines Ltd SIAL.SI jumped 5.42% Asia stock indexes and currencies at 0644 GMT In Mumbai, shares .NSEI climbed 1.2% after India's economy returned to growth in the December quarter and the country kicked off an expanded COVID-19 vaccination drive, with investors betting on a faster economic recovery. | Graphic: World FX rates https://tmsnrt.rs/2RBWI5E China Feb PMI grew at slowest pace in nine months China's growth remains fairly robust - Capital Economics Glove makers drag down Malaysian shares March 1 (Reuters) - Indonesia, Singapore and Philippine stocks climbed about 1% on Monday as bond markets ended last week on a calmer note and regional manufacturing activity indicated that a gradual recovery was still on track. .BO A slew of data on Monday showed manufacturing activity in Indonesia and the Philippines was still in expansion territory while Japan figures showed the fastest growth in over two years. ** Indonesian 10-year benchmark yields up 6.5 basis points at 6.664%, 3-year yields up 4.5 basis points at 5.475% ** Emperador Inc EMP.PS led gains in the Philippines while conglomerate Ayala Corp AC.PS rose 4.28% ** Supermax Corp SUPM.KL, Hartalega Holdings Bhd HTHB.KL Top Glove Corp TPGC.KL led losses in Malaysia ** Singapore Airlines Ltd SIAL.SI jumped 5.42% Asia stock indexes and currencies at 0644 GMT | Graphic: World FX rates https://tmsnrt.rs/2RBWI5E China Feb PMI grew at slowest pace in nine months China's growth remains fairly robust - Capital Economics Glove makers drag down Malaysian shares March 1 (Reuters) - Indonesia, Singapore and Philippine stocks climbed about 1% on Monday as bond markets ended last week on a calmer note and regional manufacturing activity indicated that a gradual recovery was still on track. .BO A slew of data on Monday showed manufacturing activity in Indonesia and the Philippines was still in expansion territory while Japan figures showed the fastest growth in over two years. ** Indonesian 10-year benchmark yields up 6.5 basis points at 6.664%, 3-year yields up 4.5 basis points at 5.475% ** Emperador Inc EMP.PS led gains in the Philippines while conglomerate Ayala Corp AC.PS rose 4.28% ** Supermax Corp SUPM.KL, Hartalega Holdings Bhd HTHB.KL Top Glove Corp TPGC.KL led losses in Malaysia ** Singapore Airlines Ltd SIAL.SI jumped 5.42% Asia stock indexes and currencies at 0644 GMT |
35017.0 | 2021-02-25 00:00:00 UTC | OMERS reports first loss since financial crisis, Caisse trims gains | AC | https://www.nasdaq.com/articles/omers-reports-first-loss-since-financial-crisis-caisse-trims-gains-2021-02-25 | nan | nan | By Maiya Keidan and Noor Zainab Hussain
Feb 25 (Reuters) - Canadian pension fund OMERS on Thursday reported its first annual net loss since the 2008 financial crisis and larger rival Caisse posted its smallest gain in two years, as shutdowns and a coronavirus-driven economic slump hurt investments.
OMERS, which had C$105 billion ($83.8 billion) in net assets at the end of 2020, reported a negative return of 2.7%, with widespread lockdowns hitting its investments in real estate, energy and financial services.
Caisse de depot et placement du Quebec, Canada's second-largest pension fund, reported a 7.7% gain over the same period, helped by high returns from private equity and private credit in fixed income.
OMERS Chief Executive Officer Blake Hutcheson said in comments to Reuters: "This is one difficult year, largely COVID-related that we will put behind us.
"We've woken up this year already in pretty good shape but it didn't happen to coincide with year-end.".
OMERS said it planned to shift capital towards businesses with lower carbon intensity, including renewable power, and continue to invest in real estate, including industrial spaces and laboratories.
Its investment portfolio averaged annual returns of 8.2% over ten years leading up to 2020, compared with Caisse's return of 8.6% over the same period.
Caisse's asset under management rose 7.5% to C$365.5 billion at Dec. 31, with private equity portfolio generating C$4.9 billion in value, according to its annual results.
Caisse, one of the top shareholders in takeover target Transat AT TRZ.TO, said the tour operator's board should "give itself as many options as possible," after a planned takeover deal by Air Canada AC.TO was left in limbo.
Caisse CEO Charles Emond said Caisse "was not favouring one option over another," referring to the formal bid from Air Canada and another unofficial offer from Canadian businessman Pierre Karl Péladeau.
($1 = 1.2476 Canadian dollars)
(Reporting by Noor Zainab Hussain in Bengaluru and Maiya Keidan in Toronto; additional reporting by Allison Lampert in Montreal; Editing by Anil D'Silva and John Stonestreet)
((noor.hussain@thomsonreuters.com; Within U.S. +1 646 223 8780; Outside U.S. +91 80 6182 2663 or +91 80 3796 2663 ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Caisse de depot et placement du Quebec, Canada's second-largest pension fund, reported a 7.7% gain over the same period, helped by high returns from private equity and private credit in fixed income. OMERS said it planned to shift capital towards businesses with lower carbon intensity, including renewable power, and continue to invest in real estate, including industrial spaces and laboratories. Caisse's asset under management rose 7.5% to C$365.5 billion at Dec. 31, with private equity portfolio generating C$4.9 billion in value, according to its annual results. | Caisse de depot et placement du Quebec, Canada's second-largest pension fund, reported a 7.7% gain over the same period, helped by high returns from private equity and private credit in fixed income. OMERS said it planned to shift capital towards businesses with lower carbon intensity, including renewable power, and continue to invest in real estate, including industrial spaces and laboratories. Caisse's asset under management rose 7.5% to C$365.5 billion at Dec. 31, with private equity portfolio generating C$4.9 billion in value, according to its annual results. | Caisse de depot et placement du Quebec, Canada's second-largest pension fund, reported a 7.7% gain over the same period, helped by high returns from private equity and private credit in fixed income. OMERS said it planned to shift capital towards businesses with lower carbon intensity, including renewable power, and continue to invest in real estate, including industrial spaces and laboratories. Caisse's asset under management rose 7.5% to C$365.5 billion at Dec. 31, with private equity portfolio generating C$4.9 billion in value, according to its annual results. | Caisse de depot et placement du Quebec, Canada's second-largest pension fund, reported a 7.7% gain over the same period, helped by high returns from private equity and private credit in fixed income. OMERS said it planned to shift capital towards businesses with lower carbon intensity, including renewable power, and continue to invest in real estate, including industrial spaces and laboratories. Caisse's asset under management rose 7.5% to C$365.5 billion at Dec. 31, with private equity portfolio generating C$4.9 billion in value, according to its annual results. |
35018.0 | 2021-02-22 00:00:00 UTC | CANADA STOCKS - TSX rises 0.2% to 18,422.24 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.2-to-18422.24-2021-02-22 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.20 percent to 18,422.24
* Leading the index were Vermilion Energy Inc , up 13.7%, New Gold Inc NGD.TO, up 12.5%, and MEG Energy Corp MEG.TO, higher by 12.4%.
* Lagging shares were Ballard Power Systems Inc BLDP.TO, down 6.3%, Trillium Therapeutics Inc TRIL.TO, down 5.0%, and Cronos Group Inc CRON.TO, lower by 4.7%.
* On the TSX 105 issues rose and 108 fell as a 1-to-1 ratio favored decliners. There were 17 new highs and no new lows, with total volume of 220.7 million shares.
* The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN rose 5.43 points, or 5.1%, while the financials sector .SPTTFS climbed 1.71 points, or 0.5%.
* West Texas Intermediate crude futures CLc1 rose 4.14%, or $2.45, to $61.69 a barrel. Brent crude LCOc1 rose 3.69%, or $2.32, to $65.23 O/R
* The TSX is up 5.7% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. * Lagging shares were Ballard Power Systems Inc BLDP.TO, down 6.3%, Trillium Therapeutics Inc TRIL.TO, down 5.0%, and Cronos Group Inc CRON.TO, lower by 4.7%. * On the TSX 105 issues rose and 108 fell as a 1-to-1 ratio favored decliners. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. * The TSX's energy group .SPTTEN rose 5.43 points, or 5.1%, while the financials sector .SPTTFS climbed 1.71 points, or 0.5%. Brent crude LCOc1 rose 3.69%, or $2.32, to $65.23 O/R * The TSX is up 5.7% for the year. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.20 percent to 18,422.24 * Leading the index were Vermilion Energy Inc , up 13.7%, New Gold Inc NGD.TO, up 12.5%, and MEG Energy Corp MEG.TO, higher by 12.4%. * The TSX's energy group .SPTTEN rose 5.43 points, or 5.1%, while the financials sector .SPTTFS climbed 1.71 points, or 0.5%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. * Lagging shares were Ballard Power Systems Inc BLDP.TO, down 6.3%, Trillium Therapeutics Inc TRIL.TO, down 5.0%, and Cronos Group Inc CRON.TO, lower by 4.7%. * On the TSX 105 issues rose and 108 fell as a 1-to-1 ratio favored decliners. |
35019.0 | 2021-02-22 00:00:00 UTC | EMERGING MARKETS-Asian bonds sold off as U.S. yields spike; Philippine stocks slump | AC | https://www.nasdaq.com/articles/emerging-markets-asian-bonds-sold-off-as-u.s.-yields-spike-philippine-stocks-slump-2021-0 | nan | nan | By Rashmi Ashok
Feb 22 (Reuters) - Most Asian bond yields pushed higher on Monday against the backdrop of a spike in U.S. 10-year Treasury yields on expectations that massive government stimulus would lead to higher economic growth and inflation.
Regional equities, however, posted a mixed performance, with the Philippines market slipping most as a jump in COVID-19 casualties raised the possibility that partial lockdown measures in the capital of Manila could be extended.
Yields on benchmark U.S. 10-year Treasury notes US10YT=RR rose to a one-year high of 1.3822%, as falling COVID-19 infection rates, expectations of a stronger economic recovery and higher government borrowing in the United States dented their lustre.
The move sparked outflows in Indonesian 10-year bonds ID10YT=RR, generally favoured as a high-yield investment in the region, with yields rising to 6.673%, their highest since mid-October.
"With Bank Indonesia's easing cycle coming to an end, bond supply/ demand dynamics challenging, and our expectation for U.S. yields to rise, we think the scope for IDR bonds to rally significantly is limited," analysts at Goldman Sachs wrote.
"As such, we recommend investors lighten duration risk and switch from 10Y and 20Y into the 5Y sector of the curve."
Thailand 10-year bond yields TH10YT=RR jumped to 1.570%, hitting their highest since early April last year, while India's benchmark bond yields IN10YT=RR hit their highest since late-August at 6.195%.
Malaysian benchmark bond MY10YT=RR yields were an exception, holding relatively steady at 2.956%, although they too have risen recently.
Analysts at HSBC said they favour Malaysian bond markets, noting it has the highest real policy rate in emerging markets, a status that is increasingly inconsistent with the country’s growth and inflation outlook.
The Philippines stock market .PSI slipped 1.1%, while its currency, the peso PHP=, shed as much as 0.3% to hit its lowest since Oct. 23.
The Philippines reported 239 new coronavirus deaths on Saturday, the second-highest daily increase in casualties since the beginning of the pandemic.
President Rodrigo Duterte is due to decide next week on the future of coronavirus restrictions in Manila, which accounts for a significant chunk of the country's economic output.
South Korea's KOSPI .KS11 reversed early gains to edge lower while the won KRW=KFTC also eased, despite upbeat export data.
Doctors in South Korea have threatened strike action in response to legislation to strip them of licences following criminal convictions, sparking fears about possible disruption of a coronavirus vaccination effort set to begin this week.
HIGHLIGHTS:
** Indonesian 3-year benchmark yields were down 3.9 basis points at 5.169% while Thailand's 3-year benchmark yield is up 3 basis points at 0.62%
** In the Philippines, top index losers are Ayala Corp AC.PS down 3.14% and SM Investments Corp SM.PS down 2.72%
** Top gainers on the Singapore STI .STI include Singapore Technologies Engineering Ltd STEG.SI up 1.6% and Singapore Airlines Ltd SIAL.SI up 1.15%
Asia stock indexes and currencies at 0449 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.20
-2.27
.N225
0.86
10.32
China
CNY=CFXS
-0.04
+1.02
.SSEC
-0.06
6.36
India
INR=IN
+0.14
+0.71
.NSEI
-0.35
6.78
Indonesia
IDR=
-0.28
-0.43
.JKSE
1.10
5.37
Malaysia
MYR=
+0.00
-0.45
.KLSE
-0.26
-2.85
Philippines
PHP=
-0.25
-1.21
.PSI
-1.23
-4.18
S.Korea
KRW=KFTC
-0.14
-1.91
.KS11
-0.30
7.83
Singapore
SGD=
+0.10
-0.15
.STI
0.26
1.56
Taiwan
TWD=TP
+1.52
+2.04
.TWII
0.86
11.87
Thailand
THB=TH
-0.10
-0.13
.SETI
-0.42
3.09
((Rashmi.Ashok@thomsonreuters.com; +918061822604;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Doctors in South Korea have threatened strike action in response to legislation to strip them of licences following criminal convictions, sparking fears about possible disruption of a coronavirus vaccination effort set to begin this week. By Rashmi Ashok Feb 22 (Reuters) - Most Asian bond yields pushed higher on Monday against the backdrop of a spike in U.S. 10-year Treasury yields on expectations that massive government stimulus would lead to higher economic growth and inflation. "With Bank Indonesia's easing cycle coming to an end, bond supply/ demand dynamics challenging, and our expectation for U.S. yields to rise, we think the scope for IDR bonds to rally significantly is limited," analysts at Goldman Sachs wrote. | ** Indonesian 3-year benchmark yields were down 3.9 basis points at 5.169% while Thailand's 3-year benchmark yield is up 3 basis points at 0.62% ** In the Philippines, top index losers are Ayala Corp AC.PS down 3.14% and SM Investments Corp SM.PS down 2.72% ** Top gainers on the Singapore STI .STI include Singapore Technologies Engineering Ltd STEG.SI up 1.6% and Singapore Airlines Ltd SIAL.SI up 1.15% Asia stock indexes and currencies at 0449 GMT By Rashmi Ashok Feb 22 (Reuters) - Most Asian bond yields pushed higher on Monday against the backdrop of a spike in U.S. 10-year Treasury yields on expectations that massive government stimulus would lead to higher economic growth and inflation. "With Bank Indonesia's easing cycle coming to an end, bond supply/ demand dynamics challenging, and our expectation for U.S. yields to rise, we think the scope for IDR bonds to rally significantly is limited," analysts at Goldman Sachs wrote. | By Rashmi Ashok Feb 22 (Reuters) - Most Asian bond yields pushed higher on Monday against the backdrop of a spike in U.S. 10-year Treasury yields on expectations that massive government stimulus would lead to higher economic growth and inflation. ** Indonesian 3-year benchmark yields were down 3.9 basis points at 5.169% while Thailand's 3-year benchmark yield is up 3 basis points at 0.62% ** In the Philippines, top index losers are Ayala Corp AC.PS down 3.14% and SM Investments Corp SM.PS down 2.72% ** Top gainers on the Singapore STI .STI include Singapore Technologies Engineering Ltd STEG.SI up 1.6% and Singapore Airlines Ltd SIAL.SI up 1.15% Asia stock indexes and currencies at 0449 GMT "With Bank Indonesia's easing cycle coming to an end, bond supply/ demand dynamics challenging, and our expectation for U.S. yields to rise, we think the scope for IDR bonds to rally significantly is limited," analysts at Goldman Sachs wrote. | ** Indonesian 3-year benchmark yields were down 3.9 basis points at 5.169% while Thailand's 3-year benchmark yield is up 3 basis points at 0.62% ** In the Philippines, top index losers are Ayala Corp AC.PS down 3.14% and SM Investments Corp SM.PS down 2.72% ** Top gainers on the Singapore STI .STI include Singapore Technologies Engineering Ltd STEG.SI up 1.6% and Singapore Airlines Ltd SIAL.SI up 1.15% Asia stock indexes and currencies at 0449 GMT By Rashmi Ashok Feb 22 (Reuters) - Most Asian bond yields pushed higher on Monday against the backdrop of a spike in U.S. 10-year Treasury yields on expectations that massive government stimulus would lead to higher economic growth and inflation. "With Bank Indonesia's easing cycle coming to an end, bond supply/ demand dynamics challenging, and our expectation for U.S. yields to rise, we think the scope for IDR bonds to rally significantly is limited," analysts at Goldman Sachs wrote. |
35020.0 | 2021-02-22 00:00:00 UTC | EMERGING MARKETS-Asian bonds sold off as U.S. yields spike; Philippine stocks slump | AC | https://www.nasdaq.com/articles/emerging-markets-asian-bonds-sold-off-as-u.s.-yields-spike-philippine-stocks-slump-2021-02 | nan | nan | By Rashmi Ashok
Feb 22 (Reuters) - Most Asian bond yields pushed higher on Monday against the backdrop of a spike in U.S. 10-year Treasury yields on expectations that massive government stimulus would lead to higher economic growth and inflation.
Regional equities, however, posted a mixed performance, with the Philippines market slipping most as a jump in COVID-19 casualties raised the possibility that partial lockdown measures in the capital of Manila could be extended.
Yields on benchmark U.S. 10-year Treasury notes US10YT=RR rose to a one-year high of 1.3822%, as falling COVID-19 infection rates, expectations of a stronger economic recovery and higher government borrowing in the United States dented their lustre.
The move sparked outflows in Indonesian 10-year bonds ID10YT=RR, generally favoured as a high-yield investment in the region, with yields rising to 6.673%, their highest since mid-October.
"With Bank Indonesia's easing cycle coming to an end, bond supply/ demand dynamics challenging, and our expectation for U.S. yields to rise, we think the scope for IDR bonds to rally significantly is limited," analysts at Goldman Sachs wrote.
"As such, we recommend investors lighten duration risk and switch from 10Y and 20Y into the 5Y sector of the curve."
Thailand 10-year bond yields TH10YT=RR jumped to 1.570%, hitting their highest since early April last year, while India's benchmark bond yields IN10YT=RR hit their highest since late-August at 6.195%.
Malaysian benchmark bond MY10YT=RR yields were an exception, holding relatively steady at 2.956%, although they too have risen recently.
Analysts at HSBC said they favour Malaysian bond markets, noting it has the highest real policy rate in emerging markets, a status that is increasingly inconsistent with the country’s growth and inflation outlook.
The Philippines stock market .PSI slipped 1.1%, while its currency, the peso PHP=, shed as much as 0.3% to hit its lowest since Oct. 23.
The Philippines reported 239 new coronavirus deaths on Saturday, the second-highest daily increase in casualties since the beginning of the pandemic.
President Rodrigo Duterte is due to decide next week on the future of coronavirus restrictions in Manila, which accounts for a significant chunk of the country's economic output.
South Korea's KOSPI .KS11 reversed early gains to edge lower while the won KRW=KFTC also eased, despite upbeat export data.
Doctors in South Korea have threatened strike action in response to legislation to strip them of licences following criminal convictions, sparking fears about possible disruption of a coronavirus vaccination effort set to begin this week.
HIGHLIGHTS:
** Indonesian 3-year benchmark yields were down 3.9 basis points at 5.169% while Thailand's 3-year benchmark yield is up 3 basis points at 0.62%
** In the Philippines, top index losers are Ayala Corp AC.PS down 3.14% and SM Investments Corp SM.PS down 2.72%
** Top gainers on the Singapore STI .STI include Singapore Technologies Engineering Ltd STEG.SI up 1.6% and Singapore Airlines Ltd SIAL.SI up 1.15%
Asia stock indexes and currencies at 0449 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.20
-2.27
.N225
0.86
10.32
China
CNY=CFXS
-0.04
+1.02
.SSEC
-0.06
6.36
India
INR=IN
+0.14
+0.71
.NSEI
-0.35
6.78
Indonesia
IDR=
-0.28
-0.43
.JKSE
1.10
5.37
Malaysia
MYR=
+0.00
-0.45
.KLSE
-0.26
-2.85
Philippines
PHP=
-0.25
-1.21
.PSI
-1.23
-4.18
S.Korea
KRW=KFTC
-0.14
-1.91
.KS11
-0.30
7.83
Singapore
SGD=
+0.10
-0.15
.STI
0.26
1.56
Taiwan
TWD=TP
+1.52
+2.04
.TWII
0.86
11.87
Thailand
THB=TH
-0.10
-0.13
.SETI
-0.42
3.09
((Rashmi.Ashok@thomsonreuters.com; +918061822604;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Doctors in South Korea have threatened strike action in response to legislation to strip them of licences following criminal convictions, sparking fears about possible disruption of a coronavirus vaccination effort set to begin this week. By Rashmi Ashok Feb 22 (Reuters) - Most Asian bond yields pushed higher on Monday against the backdrop of a spike in U.S. 10-year Treasury yields on expectations that massive government stimulus would lead to higher economic growth and inflation. "With Bank Indonesia's easing cycle coming to an end, bond supply/ demand dynamics challenging, and our expectation for U.S. yields to rise, we think the scope for IDR bonds to rally significantly is limited," analysts at Goldman Sachs wrote. | ** Indonesian 3-year benchmark yields were down 3.9 basis points at 5.169% while Thailand's 3-year benchmark yield is up 3 basis points at 0.62% ** In the Philippines, top index losers are Ayala Corp AC.PS down 3.14% and SM Investments Corp SM.PS down 2.72% ** Top gainers on the Singapore STI .STI include Singapore Technologies Engineering Ltd STEG.SI up 1.6% and Singapore Airlines Ltd SIAL.SI up 1.15% Asia stock indexes and currencies at 0449 GMT By Rashmi Ashok Feb 22 (Reuters) - Most Asian bond yields pushed higher on Monday against the backdrop of a spike in U.S. 10-year Treasury yields on expectations that massive government stimulus would lead to higher economic growth and inflation. "With Bank Indonesia's easing cycle coming to an end, bond supply/ demand dynamics challenging, and our expectation for U.S. yields to rise, we think the scope for IDR bonds to rally significantly is limited," analysts at Goldman Sachs wrote. | By Rashmi Ashok Feb 22 (Reuters) - Most Asian bond yields pushed higher on Monday against the backdrop of a spike in U.S. 10-year Treasury yields on expectations that massive government stimulus would lead to higher economic growth and inflation. ** Indonesian 3-year benchmark yields were down 3.9 basis points at 5.169% while Thailand's 3-year benchmark yield is up 3 basis points at 0.62% ** In the Philippines, top index losers are Ayala Corp AC.PS down 3.14% and SM Investments Corp SM.PS down 2.72% ** Top gainers on the Singapore STI .STI include Singapore Technologies Engineering Ltd STEG.SI up 1.6% and Singapore Airlines Ltd SIAL.SI up 1.15% Asia stock indexes and currencies at 0449 GMT "With Bank Indonesia's easing cycle coming to an end, bond supply/ demand dynamics challenging, and our expectation for U.S. yields to rise, we think the scope for IDR bonds to rally significantly is limited," analysts at Goldman Sachs wrote. | ** Indonesian 3-year benchmark yields were down 3.9 basis points at 5.169% while Thailand's 3-year benchmark yield is up 3 basis points at 0.62% ** In the Philippines, top index losers are Ayala Corp AC.PS down 3.14% and SM Investments Corp SM.PS down 2.72% ** Top gainers on the Singapore STI .STI include Singapore Technologies Engineering Ltd STEG.SI up 1.6% and Singapore Airlines Ltd SIAL.SI up 1.15% Asia stock indexes and currencies at 0449 GMT By Rashmi Ashok Feb 22 (Reuters) - Most Asian bond yields pushed higher on Monday against the backdrop of a spike in U.S. 10-year Treasury yields on expectations that massive government stimulus would lead to higher economic growth and inflation. "With Bank Indonesia's easing cycle coming to an end, bond supply/ demand dynamics challenging, and our expectation for U.S. yields to rise, we think the scope for IDR bonds to rally significantly is limited," analysts at Goldman Sachs wrote. |
35021.0 | 2021-02-19 00:00:00 UTC | EMERGING MARKETS-Rupiah falls on bond outflows; most Asian FX, equities eye weekly loss | AC | https://www.nasdaq.com/articles/emerging-markets-rupiah-falls-on-bond-outflows-most-asian-fx-equities-eye-weekly-loss-2021 | nan | nan | By Anushka Trivedi
Feb 19 (Reuters) - The Indonesian rupiah hit a three-week low on Friday as investors dumped the country's bonds after an interest rate cut amid a dour economic outlook and rising U.S. yields, while most Asian stocks and currencies were headed for a weekly loss.
Benchmark U.S. Treasury yields US10YT=RR returned to a near one-year high hit earlier this week, putting pressure on riskier Asian stocks and currencies across the board.
A subdued greenback USD= failed to lift the Thai baht THB=TH, the Malaysian ringgit MYR=MY and Singapore's dollar SGD= as they traded flat to lower on the day. Their respective stock exchanges .SETI, .KLSE and .STI were on track to shed 0.5% to 1.5% for the week.
The rupiah IDR= fell 0.4%, off about 1.6% from its Tuesday's high, as a crippling COVID-19 infection wave led Bank Indonesia (BI) to trim rates by 25 basis points (bps) the previous day and downgrade its economic growth forecast for 2021.
Indonesia's bonds, favoured by foreign investors for their high yields, also suffered the brunt of rising U.S. yields and in turn pressured the rupiah.
"Markets are looking past BI's rate cut and are focusing on the uptick in U.S. Treasury yields," said Wei Liang Chang, a macro strategist at DBS Bank.
"With equity risk appetite softening and U.S. yields staying firm, the rupiah could stay on the back foot, with sentiment further dampening after BI trimmed its growth expectations for the year."
Indonesian 10-year benchmark yields ID10YT=RR were up 9.1 basis points to 6.624%, their highest since early November. The yields have jumped about 38 bps so far this week.
A bright spot in markets, South Korea's stocks .KS11 and won KRW=KFTC rebounded to close higher as the government mulled a fifth round of COVID-19 cash handouts.
Indian currency markets INR=IN were closed for a holiday, while shares .NSEI fell 0.3% on profit-taking in lenders. .BO
HIGHLIGHTS
** Rupiah ends about 0.6% weaker for the week
** Top losers on the Singapore STI .STI include: Jardine Matheson Holdings Ltd JARD.SI down 3.9% and Keppel DC REIT KEPE.SI down 2.4%
** In the Philippines, top index gainers are: Aboitiz Equity Ventures Inc AEV.PS up 3.8% and Ayala Corp AC.PS up 3.1%
Asia stock indexes and currencies at 0746 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
+0.05
-2.24
.N225
-0.72
9.38
China
CNY=CFXS
+0.38
+0.99
.SSEC
0.57
6.42
India
INR=IN
0.00
+0.57
.NSEI
-0.35
7.76
Indonesia
IDR=
-0.39
-0.18
.JKSE
0.33
4.04
Malaysia
MYR=
-0.07
-0.57
.KLSE
0.22
-2.95
Philippines
PHP=
-0.02
-0.89
.PSI
1.12
-2.99
S.Korea
KRW=KFTC
+0.15
-1.78
.KS11
0.68
8.15
Singapore
SGD=
+0.03
-0.35
.STI
-0.99
1.28
Taiwan
TWD=TP
+1.35
+1.90
.TWII
-0.51
10.92
Thailand
THB=TH
+0.03
-0.13
.SETI
-0.82
3.41
(Reporting by Anushka Trivedi in Bengaluru; Editing by Krishna Chandra Eluri)
((Anushka.Trivedi@thomsonreuters.com; +918061823241;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Benchmark U.S. Treasury yields US10YT=RR returned to a near one-year high hit earlier this week, putting pressure on riskier Asian stocks and currencies across the board. A subdued greenback USD= failed to lift the Thai baht THB=TH, the Malaysian ringgit MYR=MY and Singapore's dollar SGD= as they traded flat to lower on the day. Their respective stock exchanges .SETI, .KLSE and .STI were on track to shed 0.5% to 1.5% for the week. | Benchmark U.S. Treasury yields US10YT=RR returned to a near one-year high hit earlier this week, putting pressure on riskier Asian stocks and currencies across the board. A subdued greenback USD= failed to lift the Thai baht THB=TH, the Malaysian ringgit MYR=MY and Singapore's dollar SGD= as they traded flat to lower on the day. Their respective stock exchanges .SETI, .KLSE and .STI were on track to shed 0.5% to 1.5% for the week. | ** Rupiah ends about 0.6% weaker for the week ** Top losers on the Singapore STI .STI include: Jardine Matheson Holdings Ltd JARD.SI down 3.9% and Keppel DC REIT KEPE.SI down 2.4% ** In the Philippines, top index gainers are: Aboitiz Equity Ventures Inc AEV.PS up 3.8% and Ayala Corp AC.PS up 3.1% Asia stock indexes and currencies at 0746 GMT Benchmark U.S. Treasury yields US10YT=RR returned to a near one-year high hit earlier this week, putting pressure on riskier Asian stocks and currencies across the board. A subdued greenback USD= failed to lift the Thai baht THB=TH, the Malaysian ringgit MYR=MY and Singapore's dollar SGD= as they traded flat to lower on the day. | Benchmark U.S. Treasury yields US10YT=RR returned to a near one-year high hit earlier this week, putting pressure on riskier Asian stocks and currencies across the board. A subdued greenback USD= failed to lift the Thai baht THB=TH, the Malaysian ringgit MYR=MY and Singapore's dollar SGD= as they traded flat to lower on the day. Their respective stock exchanges .SETI, .KLSE and .STI were on track to shed 0.5% to 1.5% for the week. |
35022.0 | 2021-02-16 00:00:00 UTC | Air Canada refuses to extend deal deadline for Transat buyout | AC | https://www.nasdaq.com/articles/air-canada-refuses-to-extend-deal-deadline-for-transat-buyout-2021-02-16 | nan | nan | Feb 16 (Reuters) - Canadian tour operator Transat A.T. Inc TRZ.TO said on Tuesday Air Canada AC.TO refused to extend the deadline for its C$188.7 million ($148.73 million) deal beyond Feb. 15, after European regulators failed to give the go-ahead for the buyout.
($1 = 1.2687 Canadian dollars)
(Reporting by Shreyasee Raj in Bengaluru; Editing by Ramakrishnan M.)
((Shreyasee.Raj@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Feb 16 (Reuters) - Canadian tour operator Transat A.T. Inc TRZ.TO said on Tuesday Air Canada AC.TO refused to extend the deadline for its C$188.7 million ($148.73 million) deal beyond Feb. 15, after European regulators failed to give the go-ahead for the buyout. ($1 = 1.2687 Canadian dollars) (Reporting by Shreyasee Raj in Bengaluru; Editing by Ramakrishnan M.) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Feb 16 (Reuters) - Canadian tour operator Transat A.T. Inc TRZ.TO said on Tuesday Air Canada AC.TO refused to extend the deadline for its C$188.7 million ($148.73 million) deal beyond Feb. 15, after European regulators failed to give the go-ahead for the buyout. ($1 = 1.2687 Canadian dollars) (Reporting by Shreyasee Raj in Bengaluru; Editing by Ramakrishnan M.) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Feb 16 (Reuters) - Canadian tour operator Transat A.T. Inc TRZ.TO said on Tuesday Air Canada AC.TO refused to extend the deadline for its C$188.7 million ($148.73 million) deal beyond Feb. 15, after European regulators failed to give the go-ahead for the buyout. ($1 = 1.2687 Canadian dollars) (Reporting by Shreyasee Raj in Bengaluru; Editing by Ramakrishnan M.) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Feb 16 (Reuters) - Canadian tour operator Transat A.T. Inc TRZ.TO said on Tuesday Air Canada AC.TO refused to extend the deadline for its C$188.7 million ($148.73 million) deal beyond Feb. 15, after European regulators failed to give the go-ahead for the buyout. ($1 = 1.2687 Canadian dollars) (Reporting by Shreyasee Raj in Bengaluru; Editing by Ramakrishnan M.) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
35023.0 | 2021-02-15 00:00:00 UTC | EMERGING MARKETS-Singapore, Thai stocks cheer less-than-feared Q4 economic contraction | AC | https://www.nasdaq.com/articles/emerging-markets-singapore-thai-stocks-cheer-less-than-feared-q4-economic-contraction-2021 | nan | nan | By Shashwat Awasthi
Feb 15 (Reuters) - Thailand stocks were on track for their best day in more than a month on Monday and Singapore shares jumped after the Southeast Asian economies contracted less than expected in the final quarter of 2020.
Across Asia, share markets began a data-heavy week on a firm footing amid optimism the rollout of coronavirus vaccines globally will speed up economic recovery. MKTS/GLOB
Thailand's SETI index .SETI jumped 1.3%, the most since Jan. 8. The baht THB=TH traded flat as the country trimmed its growth outlook for 2021.
The tourism-reliant nation was hit hard last year as the pandemic led to international travel restrictions and a COVID-19 outbreak in December has dealt a further blow to prospects for a speedy recovery.
Thailand's fourth-quarter GDP data could indicate the "worst is over", but Monday's jump in stocks is also partly down to steep, single-stock moves, said Poon Panichpibool, a market strategist at Krung Thai Bank.
"I think the market just follows hype on some stocks like PTT Oil and Retail Business... or Delta Electronics which benefits from up-cycle in semiconductor/IC sectors," Panichpibool said.
PTT Oil and Retail Business OR.BK, which soared almost 50% in its market debut last week, was up almost 20%. Shares of Delta DELTA.BK surged 19%.
Despite a lower 2021 growth forecast, Panichpibool said he does not expect the Bank of Thailand to cut record low interest rates further in the near term.
Stocks in Singapore .STI jumped as much as 0.7% and the dollar SGD= firmed after the city-state too reported better-than-expected fourth-quarter GDP.
Analysts were also looking ahead to Singapore's 2021 budget, due on Tuesday, for guidance on fiscal policy.
"Domestic policy concerns pertaining to an uneven and protracted recovery trajectory will likely feature prominently in the budget announcement tomorrow," said Selena Ling, head of research and strategy at OCBC Bank.
South Korea's KOSPI .KS11 scaled a near three-week high and the won KRW=KFTC gained for the fourth straight day after the country's exports during the first 10 days of February surged 69.1% from a year earlier.
Markets in China, Hong Kong and Taiwan were closed for the Lunar New Year holiday. U.S. stock markets will be closed on Monday for the Presidents Day holiday.
HIGHLIGHTS:
** Thailand's 10-year government bond yields are up 7 basis points at 1.38%
** Top gainers on Thailand's SETI include Max Metal Corporation MAX.BK up 100%, Muramoto Electron Thailand METCO.BK up 29.66% and Far East Fame Line DDB FE.BK up 28.11%
** In the Philippines, top index losers are Alliance Global Group AGI.PS down 3.67%, Ayala Corp AC.PS down 2.43% and International Container Terminal Services ICT.PS down 2.24%
Asia stock indexes and currencies at 0722 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.16
-1.77
.N225
1.91
9.62
China
CNY=CFXS
0.00
+1.09
.SSEC
0.00
5.24
India
INR=IN
+0.20
+0.63
.NSEI
0.95
9.48
Indonesia
IDR=
+0.43
+0.93
.JKSE
0.73
4.83
Malaysia
MYR=
+0.14
-0.37
.KLSE
0.84
-0.89
Philippines
PHP=
+0.27
+0.21
.PSI
-0.45
-2.53
S.Korea
KRW=KFTC
+0.51
-1.38
.KS11
1.50
9.52
Singapore
SGD=
+0.09
-0.19
.STI
0.27
3.15
Taiwan
TWD=TP
0.00
+0.33
.TWII
0.00
7.26
Thailand
THB=TH
-0.03
+0.30
.SETI
1.34
5.46
(Reporting by Shashwat Awasthi in Bengaluru; Editing by Himani Sarkar)
((Shashwat.Awasthi@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Shashwat Awasthi Feb 15 (Reuters) - Thailand stocks were on track for their best day in more than a month on Monday and Singapore shares jumped after the Southeast Asian economies contracted less than expected in the final quarter of 2020. "Domestic policy concerns pertaining to an uneven and protracted recovery trajectory will likely feature prominently in the budget announcement tomorrow," said Selena Ling, head of research and strategy at OCBC Bank. Across Asia, share markets began a data-heavy week on a firm footing amid optimism the rollout of coronavirus vaccines globally will speed up economic recovery. | By Shashwat Awasthi Feb 15 (Reuters) - Thailand stocks were on track for their best day in more than a month on Monday and Singapore shares jumped after the Southeast Asian economies contracted less than expected in the final quarter of 2020. Across Asia, share markets began a data-heavy week on a firm footing amid optimism the rollout of coronavirus vaccines globally will speed up economic recovery. "Domestic policy concerns pertaining to an uneven and protracted recovery trajectory will likely feature prominently in the budget announcement tomorrow," said Selena Ling, head of research and strategy at OCBC Bank. | By Shashwat Awasthi Feb 15 (Reuters) - Thailand stocks were on track for their best day in more than a month on Monday and Singapore shares jumped after the Southeast Asian economies contracted less than expected in the final quarter of 2020. ** Thailand's 10-year government bond yields are up 7 basis points at 1.38% ** Top gainers on Thailand's SETI include Max Metal Corporation MAX.BK up 100%, Muramoto Electron Thailand METCO.BK up 29.66% and Far East Fame Line DDB FE.BK up 28.11% ** In the Philippines, top index losers are Alliance Global Group AGI.PS down 3.67%, Ayala Corp AC.PS down 2.43% and International Container Terminal Services ICT.PS down 2.24% Asia stock indexes and currencies at 0722 GMT Across Asia, share markets began a data-heavy week on a firm footing amid optimism the rollout of coronavirus vaccines globally will speed up economic recovery. | By Shashwat Awasthi Feb 15 (Reuters) - Thailand stocks were on track for their best day in more than a month on Monday and Singapore shares jumped after the Southeast Asian economies contracted less than expected in the final quarter of 2020. Across Asia, share markets began a data-heavy week on a firm footing amid optimism the rollout of coronavirus vaccines globally will speed up economic recovery. "Domestic policy concerns pertaining to an uneven and protracted recovery trajectory will likely feature prominently in the budget announcement tomorrow," said Selena Ling, head of research and strategy at OCBC Bank. |
35024.0 | 2021-02-12 00:00:00 UTC | Air Canada posts biggest annual loss in nearly two decades as virus hits bookings | AC | https://www.nasdaq.com/articles/air-canada-posts-biggest-annual-loss-in-nearly-two-decades-as-virus-hits-bookings-2021-02 | nan | nan | Adds details on cash burn and job cuts
Feb 12 (Reuters) - Air Canada AC.TO on Friday reported its biggest annual loss in at least 19 years as the coronavirus crisis hit bookings, with no breakthrough in talks with the government over further financial aid.
Airlines have been among the hardest hit by the coronavirus crisis that has led people to avoid air travel, resulting in billions of dollars in losses for the sector and thousands of job losses.
Air Canada, which was forced to cut more than 20,000 jobs in 2020, has been negotiating with the Liberal government since November for aid to support jobs, but progress has been slow amid disagreements over the funding amount.
The company said it plans to reduce its first-quarter capacity by about 85% compared with a year earlier, and projects quarterly net cash burn between C$1.35 billion and C$1.53 billion.
Air Canada's fourth-quarter cash burn stood at C$1.38 billion.
The company's net loss for 2020 was C$4.65 billion ($3.65 billion), or C$16.47 per share, compared with a profit of C$1.48 billion, or C$5.44 per share.
Full-year operating revenue plunged 70% to C$5.83 billion.
($1 = 1.2737 Canadian dollars)
(Reporting by Ankit Ajmera in Bengaluru; Editing by Vinay Dwivedi)
((Ankit.Ajmera@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details on cash burn and job cuts Feb 12 (Reuters) - Air Canada AC.TO on Friday reported its biggest annual loss in at least 19 years as the coronavirus crisis hit bookings, with no breakthrough in talks with the government over further financial aid. The company said it plans to reduce its first-quarter capacity by about 85% compared with a year earlier, and projects quarterly net cash burn between C$1.35 billion and C$1.53 billion. Air Canada, which was forced to cut more than 20,000 jobs in 2020, has been negotiating with the Liberal government since November for aid to support jobs, but progress has been slow amid disagreements over the funding amount. | Adds details on cash burn and job cuts Feb 12 (Reuters) - Air Canada AC.TO on Friday reported its biggest annual loss in at least 19 years as the coronavirus crisis hit bookings, with no breakthrough in talks with the government over further financial aid. The company said it plans to reduce its first-quarter capacity by about 85% compared with a year earlier, and projects quarterly net cash burn between C$1.35 billion and C$1.53 billion. The company's net loss for 2020 was C$4.65 billion ($3.65 billion), or C$16.47 per share, compared with a profit of C$1.48 billion, or C$5.44 per share. | Adds details on cash burn and job cuts Feb 12 (Reuters) - Air Canada AC.TO on Friday reported its biggest annual loss in at least 19 years as the coronavirus crisis hit bookings, with no breakthrough in talks with the government over further financial aid. The company said it plans to reduce its first-quarter capacity by about 85% compared with a year earlier, and projects quarterly net cash burn between C$1.35 billion and C$1.53 billion. Airlines have been among the hardest hit by the coronavirus crisis that has led people to avoid air travel, resulting in billions of dollars in losses for the sector and thousands of job losses. | Adds details on cash burn and job cuts Feb 12 (Reuters) - Air Canada AC.TO on Friday reported its biggest annual loss in at least 19 years as the coronavirus crisis hit bookings, with no breakthrough in talks with the government over further financial aid. The company said it plans to reduce its first-quarter capacity by about 85% compared with a year earlier, and projects quarterly net cash burn between C$1.35 billion and C$1.53 billion. Full-year operating revenue plunged 70% to C$5.83 billion. |
35025.0 | 2021-02-12 00:00:00 UTC | Validea Peter Lynch Strategy Daily Upgrade Report - 2/12/2021 | AC | https://www.nasdaq.com/articles/validea-peter-lynch-strategy-daily-upgrade-report-2-12-2021-2021-02-12 | nan | nan | The following are today's upgrades for Validea's P/E/Growth Investor model based on the published strategy of Peter Lynch. This strategy looks for stocks trading at a reasonable price relative to earnings growth that also possess strong balance sheets.
POOL CORPORATION (POOL) is a large-cap growth stock in the Recreational Products industry. The rating according to our strategy based on Peter Lynch changed from 56% to 87% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Pool Corporation is a distributor of swimming pool supplies, equipment and related leisure products. The Company is a distributor of irrigation and landscape products in the United States. As of December 31, 2016, the Company operated 344 sales centers in North America, Europe, South America and Australia, through its four distribution networks, including SCP Distributors (SCP), Superior Pool Products (Superior), Horizon Distributors (Horizon) and National Pool Tile (NPT). The Company's customers include swimming pool remodelers and builders; specialty retailers that sell swimming pool supplies; swimming pool repair and service businesses; irrigation construction and landscape maintenance contractors, and golf courses and other commercial customers. Its products include pool equipment and components for pool construction and the remodeling of existing pools, and irrigation and landscape products. Its products also include other pool construction and recreational products.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: PASS
SALES AND P/E RATIO: PASS
INVENTORY TO SALES: PASS
EPS GROWTH RATE: PASS
TOTAL DEBT/EQUITY RATIO: PASS
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of POOL CORPORATION
Full Guru Analysis for POOL
Full Factor Report for POOL
ASSOCIATED CAPITAL GROUP INC (AC) is a small-cap growth stock in the Investment Services industry. The rating according to our strategy based on Peter Lynch changed from 0% to 80% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Associated Capital Group, Inc. is a parent operating company for the spin-off of GAMCO Investors, Inc.'s (GAMCO's) alternative investment management business, institutional research services operations and certain cash and other assets. The Company, through its subsidiaries, provides alternative investment management services and institutional research services, as well as management of its investment portfolio. It operates through the investment advisory and asset management business segment. Gabelli & Company Investment Advisers, Inc. (GCIA) is a subsidiary of the Company. GCIA and its subsidiary, Gabelli & Partners, LLC (Gabelli & Partners), collectively serve as general partners, co-general partners or investment managers to investment funds, including limited partnerships and offshore companies (collectively, Investment Partnerships), and separate accounts. It primarily manages assets in equity event-driven value strategies, across a range of risk and event arbitrage portfolios.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: PASS
SALES AND P/E RATIO: NEUTRAL
EPS GROWTH RATE: FAIL
TOTAL DEBT/EQUITY RATIO: NEUTRAL
EQUITY/ASSETS RATIO: PASS
RETURN ON ASSETS: PASS
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: BONUS PASS
Detailed Analysis of ASSOCIATED CAPITAL GROUP INC
Full Guru Analysis for AC
Full Factor Report for AC
More details on Validea's Peter Lynch strategy
Peter Lynch Stock Ideas
About Peter Lynch: Perhaps the greatest mutual fund manager of all-time, Lynch guided Fidelity Investment's Magellan Fund to a 29.2 percent average annual return from 1977 until his retirement in 1990, almost doubling the S&P 500's 15.8 percent yearly return over that time. Lynch's common sense approach and quick wit made him one of the most quoted investors on Wall Street. ("Go for a business that any idiot can run -- because sooner or later, any idiot probably is going to run it," is one of his many pearls of wisdom.) Lynch's bestseller One Up on Wall Street is something of a "stocks for the everyman/everywoman", breaking his approach down into easy-to-understand concepts.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The following table summarizes whether the stock meets each of this strategy's tests. The rating according to our strategy based on Peter Lynch changed from 56% to 87% based on the firm’s underlying fundamentals and the stock’s valuation. The Company's customers include swimming pool remodelers and builders; specialty retailers that sell swimming pool supplies; swimming pool repair and service businesses; irrigation construction and landscape maintenance contractors, and golf courses and other commercial customers. | The following table summarizes whether the stock meets each of this strategy's tests. Detailed Analysis of POOL CORPORATION Full Guru Analysis for POOL Full Factor Report for POOL ASSOCIATED CAPITAL GROUP INC (AC) is a small-cap growth stock in the Investment Services industry. GCIA and its subsidiary, Gabelli & Partners, LLC (Gabelli & Partners), collectively serve as general partners, co-general partners or investment managers to investment funds, including limited partnerships and offshore companies (collectively, Investment Partnerships), and separate accounts. | The Company's customers include swimming pool remodelers and builders; specialty retailers that sell swimming pool supplies; swimming pool repair and service businesses; irrigation construction and landscape maintenance contractors, and golf courses and other commercial customers. The following table summarizes whether the stock meets each of this strategy's tests. Detailed Analysis of POOL CORPORATION Full Guru Analysis for POOL Full Factor Report for POOL ASSOCIATED CAPITAL GROUP INC (AC) is a small-cap growth stock in the Investment Services industry. | The following table summarizes whether the stock meets each of this strategy's tests. The rating according to our strategy based on Peter Lynch changed from 56% to 87% based on the firm’s underlying fundamentals and the stock’s valuation. The Company's customers include swimming pool remodelers and builders; specialty retailers that sell swimming pool supplies; swimming pool repair and service businesses; irrigation construction and landscape maintenance contractors, and golf courses and other commercial customers. |
35026.0 | 2021-02-12 00:00:00 UTC | CANADA STOCKS-TSX futures edge higher as cannabis stocks recover | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-edge-higher-as-cannabis-stocks-recover-2021-02-12 | nan | nan | Feb 12 (Reuters) - Canadian stock futures inched higher on Friday, helped by a slight recovery in cannabis stocks, while investors awaited wholesale trade data for further cues on economic recovery.
U.S.-listed shares of cannabis companies rebounded from a double-digit slump in the prior session. Canopy Growth Corp CGC.O, Aphria Inc APHA.O, Cronos Group CRON.O, and Hexo Corp HEXO.N gained between 2.09% and 5.75% in premarket trading.
Brent crude LCOc1 futures and U.S. West Texas Intermediate crude CLc1 futures fell 0.65% and 0.77%, respectively as oil prices dropped after OPEC again lowered its demand forecast. O/R
March futures on the S&P/TSX index SXFc1 were up 0.09% at 7:00 a.m. ET.
Data for Canada's wholesale trade for December is due at 8:30 a.m. ET
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.45% lower at 18,373.81 on Thursday. .TO
Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.16% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.19% and Nasdaq 100 e-mini futures NQc1 were down 0.12%. .N
TOP STORIES TOP/CAN
Air Canada AC.TO reported its biggest annual loss in at least 19 years as the coronavirus crisis hit bookings, with no breakthrough in talks with the government over further financial aid.
Shares of red-hot cannabis firms plunged by more than one-third on Thursday, marking another short-lived squeeze of short sellers by retail investors aiming to benefit from an expected push to decriminalize marijuana under U.S. President Joe Biden.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Aurora Cannabis Inc ACB.TO: Canaccord Genuity raises target price C$14 from C$11
Restaurant Brands International Inc QSR.TO: Credit Suisse cuts target price to $67 from $69
Colliers International Group Inc CIGI.TO: CIBC raises target price to $112 from $102
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1818.1; -0.41% GOL/
US crude CLc1: $57.79; -0.77% O/R
Brent crude LCOc1: $60.74; -0.65% O/R
U.S. ECONOMIC DATA DUE ON FRIDAY
1000 U Mich Sentiment Preliminary for Feb: Expected 80.8; Prior 79.0
1000 U Mich Conditions Preliminary for Feb: Expected 88.0; Prior 86.7
1000 U Mich Expectations Preliminary for Feb: Expected 75.7; Prior 74.0
1000 U Mich 1 year inflation preliminary for Feb: Prior 3.0%
1000 U Mich 5-year inflation preliminary for Feb: Prior 2.7%
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.27)
(Reporting by Shivani Kumaresan and Amal S in Bengaluru; editing by Uttaresh.V)
((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Air Canada AC.TO reported its biggest annual loss in at least 19 years as the coronavirus crisis hit bookings, with no breakthrough in talks with the government over further financial aid. Aurora Cannabis Inc ACB.TO: Canaccord Genuity raises target price C$14 from C$11 Restaurant Brands International Inc QSR.TO: Credit Suisse cuts target price to $67 from $69 Colliers International Group Inc CIGI.TO: CIBC raises target price to $112 from $102 COMMODITIES AT 7:00 a.m. Feb 12 (Reuters) - Canadian stock futures inched higher on Friday, helped by a slight recovery in cannabis stocks, while investors awaited wholesale trade data for further cues on economic recovery. | Air Canada AC.TO reported its biggest annual loss in at least 19 years as the coronavirus crisis hit bookings, with no breakthrough in talks with the government over further financial aid. Aurora Cannabis Inc ACB.TO: Canaccord Genuity raises target price C$14 from C$11 Restaurant Brands International Inc QSR.TO: Credit Suisse cuts target price to $67 from $69 Colliers International Group Inc CIGI.TO: CIBC raises target price to $112 from $102 COMMODITIES AT 7:00 a.m. Feb 12 (Reuters) - Canadian stock futures inched higher on Friday, helped by a slight recovery in cannabis stocks, while investors awaited wholesale trade data for further cues on economic recovery. | Air Canada AC.TO reported its biggest annual loss in at least 19 years as the coronavirus crisis hit bookings, with no breakthrough in talks with the government over further financial aid. Aurora Cannabis Inc ACB.TO: Canaccord Genuity raises target price C$14 from C$11 Restaurant Brands International Inc QSR.TO: Credit Suisse cuts target price to $67 from $69 Colliers International Group Inc CIGI.TO: CIBC raises target price to $112 from $102 COMMODITIES AT 7:00 a.m. Feb 12 (Reuters) - Canadian stock futures inched higher on Friday, helped by a slight recovery in cannabis stocks, while investors awaited wholesale trade data for further cues on economic recovery. | Air Canada AC.TO reported its biggest annual loss in at least 19 years as the coronavirus crisis hit bookings, with no breakthrough in talks with the government over further financial aid. Aurora Cannabis Inc ACB.TO: Canaccord Genuity raises target price C$14 from C$11 Restaurant Brands International Inc QSR.TO: Credit Suisse cuts target price to $67 from $69 Colliers International Group Inc CIGI.TO: CIBC raises target price to $112 from $102 COMMODITIES AT 7:00 a.m. O/R March futures on the S&P/TSX index SXFc1 were up 0.09% at 7:00 a.m. |
35027.0 | 2021-02-11 00:00:00 UTC | Canada approves Air Canada purchase of Transat, with conditions | AC | https://www.nasdaq.com/articles/canada-approves-air-canada-purchase-of-transat-with-conditions-2021-02-11-0 | nan | nan | Adds details, background
OTTAWA, Feb 11 (Reuters) - Canada has approved Air Canada's AC.TO purchase of troubled rival Transat A.T. Inc TRZ.TO, subject to a number of conditions, Transport Minister Omar Alghabra said on Thursday.
In a statement, Alghabra said the COVID-19 pandemic was a key factor in the decision, given that Air Transat had already made clear a slump in travel was hitting its finances.
Air Canada's commitments include encouraging and helping other airlines to take up former Transat routes to Europe, preserving the Transat head office in the province of Quebec and facilitating aircraft maintenance in Canada, he added.
In December, Transat shareholders approved a sharply discounted C$188.7 million ($149 million) buyout offer from Air Canada, after COVID-19 hit travel demand.
Air Canada, the nation's largest carrier, initially reached a deal before the pandemic to buy the Montreal-based operator of Air Transat, in a move to bolster its then-thriving leisure business.
The deal is still pending approval from the European Union, which halted its investigation into the deal on Dec. 22.
($1 = 1.2699 Canadian dollars)
(Reporting by David Ljunggren in Ottawa and Allison Lampert in Montreal; Editing by Leslie Adler and Peter Cooney)
((david.ljunggren@tr.com; +1 647 480 7891))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details, background OTTAWA, Feb 11 (Reuters) - Canada has approved Air Canada's AC.TO purchase of troubled rival Transat A.T. Inc TRZ.TO, subject to a number of conditions, Transport Minister Omar Alghabra said on Thursday. In a statement, Alghabra said the COVID-19 pandemic was a key factor in the decision, given that Air Transat had already made clear a slump in travel was hitting its finances. Air Canada's commitments include encouraging and helping other airlines to take up former Transat routes to Europe, preserving the Transat head office in the province of Quebec and facilitating aircraft maintenance in Canada, he added. | Adds details, background OTTAWA, Feb 11 (Reuters) - Canada has approved Air Canada's AC.TO purchase of troubled rival Transat A.T. Inc TRZ.TO, subject to a number of conditions, Transport Minister Omar Alghabra said on Thursday. In a statement, Alghabra said the COVID-19 pandemic was a key factor in the decision, given that Air Transat had already made clear a slump in travel was hitting its finances. Air Canada's commitments include encouraging and helping other airlines to take up former Transat routes to Europe, preserving the Transat head office in the province of Quebec and facilitating aircraft maintenance in Canada, he added. | Adds details, background OTTAWA, Feb 11 (Reuters) - Canada has approved Air Canada's AC.TO purchase of troubled rival Transat A.T. Inc TRZ.TO, subject to a number of conditions, Transport Minister Omar Alghabra said on Thursday. Air Canada's commitments include encouraging and helping other airlines to take up former Transat routes to Europe, preserving the Transat head office in the province of Quebec and facilitating aircraft maintenance in Canada, he added. Air Canada, the nation's largest carrier, initially reached a deal before the pandemic to buy the Montreal-based operator of Air Transat, in a move to bolster its then-thriving leisure business. | Adds details, background OTTAWA, Feb 11 (Reuters) - Canada has approved Air Canada's AC.TO purchase of troubled rival Transat A.T. Inc TRZ.TO, subject to a number of conditions, Transport Minister Omar Alghabra said on Thursday. In a statement, Alghabra said the COVID-19 pandemic was a key factor in the decision, given that Air Transat had already made clear a slump in travel was hitting its finances. Air Canada's commitments include encouraging and helping other airlines to take up former Transat routes to Europe, preserving the Transat head office in the province of Quebec and facilitating aircraft maintenance in Canada, he added. |
35028.0 | 2021-02-11 00:00:00 UTC | Canada approves Air Canada purchase of Transat, with conditions | AC | https://www.nasdaq.com/articles/canada-approves-air-canada-purchase-of-transat-with-conditions-2021-02-11 | nan | nan | OTTAWA, Feb 11 (Reuters) - Canada has approved Air Canada's AC.TO purchase of troubled rival Transat At Inc TRZ.TO, subject to a number of conditions, Transport Minister Omar Alghabra said on Thursday.
The deal still needs approval from European regulators. In a statement, Alghabra said the COVID-19 pandemic was a key factor in the decision, given that Air Transat had already made clear a slump in travel was hitting its finances.
(Reporting by David Ljunggren; Editing by Leslie Adler)
((david.ljunggren@tr.com; +1 647 480 7891;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Feb 11 (Reuters) - Canada has approved Air Canada's AC.TO purchase of troubled rival Transat At Inc TRZ.TO, subject to a number of conditions, Transport Minister Omar Alghabra said on Thursday. In a statement, Alghabra said the COVID-19 pandemic was a key factor in the decision, given that Air Transat had already made clear a slump in travel was hitting its finances. (Reporting by David Ljunggren; Editing by Leslie Adler) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Feb 11 (Reuters) - Canada has approved Air Canada's AC.TO purchase of troubled rival Transat At Inc TRZ.TO, subject to a number of conditions, Transport Minister Omar Alghabra said on Thursday. In a statement, Alghabra said the COVID-19 pandemic was a key factor in the decision, given that Air Transat had already made clear a slump in travel was hitting its finances. (Reporting by David Ljunggren; Editing by Leslie Adler) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Feb 11 (Reuters) - Canada has approved Air Canada's AC.TO purchase of troubled rival Transat At Inc TRZ.TO, subject to a number of conditions, Transport Minister Omar Alghabra said on Thursday. In a statement, Alghabra said the COVID-19 pandemic was a key factor in the decision, given that Air Transat had already made clear a slump in travel was hitting its finances. (Reporting by David Ljunggren; Editing by Leslie Adler) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Feb 11 (Reuters) - Canada has approved Air Canada's AC.TO purchase of troubled rival Transat At Inc TRZ.TO, subject to a number of conditions, Transport Minister Omar Alghabra said on Thursday. In a statement, Alghabra said the COVID-19 pandemic was a key factor in the decision, given that Air Transat had already made clear a slump in travel was hitting its finances. The deal still needs approval from European regulators. |
35029.0 | 2021-02-02 00:00:00 UTC | EMERGING MARKETS-Asian shares rise on U.S. stimulus talks, budget boosts Indian shares further | AC | https://www.nasdaq.com/articles/emerging-markets-asian-shares-rise-on-u.s.-stimulus-talks-budget-boosts-indian-shares | nan | nan | By Rashmi Ashok
Feb 2 (Reuters) - Asian stocks rose on Tuesday as signs of progress in U.S. stimulus talks boosted Wall Street overnight, while Indian stocks posted strong gains for a second session after the unveiling of a high-spending 2021/22 budget.
Equities in South Korea .KS11 and Taiwan .TWII were driven higher by heavyweight chip makers and other electronics manufacturers after U.S. tech stocks rallied overnight. The won KRW=KFTC and Taiwan dollar TWD=TP rose 0.2% and 1.5%, respectively.
U.S. President Joe Biden advanced talks with Republican senators overnight to further his $1.9 trillion COVID-19 relief plan, which the White House said was "productive".
"We are tracking an improvement in risk sentiment headed into the Tuesday session," said Jingyi Pan, market strategist at IG, adding that aside from U.S. stimulus progress, the upcoming earnings season in Asia would be the next focus for investors.
India's blue-chip Nifty 50 index .NSEI opened 2% higher. It rallied 5% on Monday - its biggest daily rise on a federal budget day in over two decades - after the government unveiled a budget aimed at creating "wealth and wellness".
"India's latest budget is a clear departure from its predecessors. Not only does it highlight that recovery is more important than numbers, its realistic assumptions and fiscal arithmetic make it far more achievable than in the past," analysts at ANZ wrote.
India's benchmark 10-year bond yields IN10YT=RR extended their climb to stand at 6.09% on Tuesday. The yield rose 13 basis points on Monday after the government unveiled additional borrowing and a bigger-than-expected budget deficit.
"We also believe the budget is positive for the rupee depending on the RBI's stance on intervention. A number of announcements including increasing FDI (foreign direct investment) limits in the insurance sector are rupee positive," they added.
The rupee INR=IN opened marginally firmer at 73.02, after weakening as far as 73.15 per dollar on Monday.
Thailand's shares THB=TH traded about 1% higher ahead of its central bank interest rate decision due on Wednesday.
Bank of Thailand is widely expected to leave its key rate unchanged at a record low, preserving its limited policy ammunition as the economy deals with its latest wave of coronavirus infections, according to a Reuters poll.
HIGHLIGHTS:
** Indonesian 3-year benchmark yields are down 2.7 basis points at 5.075%
** Top gainers on FTSE Bursa Malaysia Kl Index .KLSE include MISC Bhd MISC.KL up 4.53% and PETRONAS Chemicals Group Bhd PCGB.KL up 2.98%
** In the Philippines, top index gainers are Aboitiz Equity Ventures Inc AEV.PS up 4.9% and Ayala Corp AC.PS up 4.07%
Asia stock indexes and currencies at 0434 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.03
-1.62
.N225
0.90
3.28
China
CNY=CFXS
+0.13
+1.06
.SSEC
0.55
1.48
India
INR=IN
+0.01
+0.08
.NSEI
2.64
4.84
Indonesia
IDR=
-0.07
+0.14
.JKSE
-0.03
1.45
Malaysia
MYR=
-0.02
-0.52
.KLSE
0.80
-2.96
Philippines
PHP=
+0.03
-0.07
.PSI
0.96
-3.64
S.Korea
KRW=KFTC
+0.09
-2.63
.KS11
1.27
7.72
Singapore
SGD=
+0.15
-0.73
.STI
0.69
2.55
Taiwan
TWD=TP
+1.47
+1.82
.TWII
2.53
7.24
Thailand
THB=TH
+0.00
-0.03
.SETI
0.76
2.76
(Editing by Ana Nicolaci da Costa)
((Rashmi.Ashok@thomsonreuters.com; +918061822604;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Equities in South Korea .KS11 and Taiwan .TWII were driven higher by heavyweight chip makers and other electronics manufacturers after U.S. tech stocks rallied overnight. "We are tracking an improvement in risk sentiment headed into the Tuesday session," said Jingyi Pan, market strategist at IG, adding that aside from U.S. stimulus progress, the upcoming earnings season in Asia would be the next focus for investors. Bank of Thailand is widely expected to leave its key rate unchanged at a record low, preserving its limited policy ammunition as the economy deals with its latest wave of coronavirus infections, according to a Reuters poll. | ** Indonesian 3-year benchmark yields are down 2.7 basis points at 5.075% ** Top gainers on FTSE Bursa Malaysia Kl Index .KLSE include MISC Bhd MISC.KL up 4.53% and PETRONAS Chemicals Group Bhd PCGB.KL up 2.98% ** In the Philippines, top index gainers are Aboitiz Equity Ventures Inc AEV.PS up 4.9% and Ayala Corp AC.PS up 4.07% Asia stock indexes and currencies at 0434 GMT Equities in South Korea .KS11 and Taiwan .TWII were driven higher by heavyweight chip makers and other electronics manufacturers after U.S. tech stocks rallied overnight. "We are tracking an improvement in risk sentiment headed into the Tuesday session," said Jingyi Pan, market strategist at IG, adding that aside from U.S. stimulus progress, the upcoming earnings season in Asia would be the next focus for investors. | ** Indonesian 3-year benchmark yields are down 2.7 basis points at 5.075% ** Top gainers on FTSE Bursa Malaysia Kl Index .KLSE include MISC Bhd MISC.KL up 4.53% and PETRONAS Chemicals Group Bhd PCGB.KL up 2.98% ** In the Philippines, top index gainers are Aboitiz Equity Ventures Inc AEV.PS up 4.9% and Ayala Corp AC.PS up 4.07% Asia stock indexes and currencies at 0434 GMT Equities in South Korea .KS11 and Taiwan .TWII were driven higher by heavyweight chip makers and other electronics manufacturers after U.S. tech stocks rallied overnight. "We are tracking an improvement in risk sentiment headed into the Tuesday session," said Jingyi Pan, market strategist at IG, adding that aside from U.S. stimulus progress, the upcoming earnings season in Asia would be the next focus for investors. | ** Indonesian 3-year benchmark yields are down 2.7 basis points at 5.075% ** Top gainers on FTSE Bursa Malaysia Kl Index .KLSE include MISC Bhd MISC.KL up 4.53% and PETRONAS Chemicals Group Bhd PCGB.KL up 2.98% ** In the Philippines, top index gainers are Aboitiz Equity Ventures Inc AEV.PS up 4.9% and Ayala Corp AC.PS up 4.07% Asia stock indexes and currencies at 0434 GMT Equities in South Korea .KS11 and Taiwan .TWII were driven higher by heavyweight chip makers and other electronics manufacturers after U.S. tech stocks rallied overnight. "We are tracking an improvement in risk sentiment headed into the Tuesday session," said Jingyi Pan, market strategist at IG, adding that aside from U.S. stimulus progress, the upcoming earnings season in Asia would be the next focus for investors. |
35030.0 | 2021-02-01 00:00:00 UTC | CANADA STOCKS-TSX futures rise on oil, bullion strength | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-rise-on-oil-bullion-strength-2021-02-01 | nan | nan | Feb 1 (Reuters) - Futures for Canada's main stock index rose on Monday buoyed by firmer oil and bullion prices, as signs of pick-up in demand made investors hopeful of a speedy economic recovery.
Brent crude LCOc1 futures rose 1.33% and U.S. West Texas Intermediate crude CLc1 futures increased 1.02%, helped by a decline in inventories. O/R
Spot gold .XAU= gained 1.01%.
March futures on the S&P/TSX index SXFc1 were up 1.33% at 7:00 a.m. ET.
Data for Canada's manufacturing PMI for January is due at 9:30 a.m. ET
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1.97% lower at 17,309.74 on Friday. .TO
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.82% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 1.08% and Nasdaq 100 e-mini futures NQc1 were up 1.12%. .N
TOP STORIES TOP/CAN
Canada's northern territories have achieved much higher COVID-19 vaccination rates than its more populous provinces despite geographic challenges in a sign that prioritizing vaccine rollout in indigenous and rural communities is paying off.
Canada, the world's biggest canola grower, is running short of the oilseed six months before the next harvest, with strong export demand driving prices to nearly 13-year highs last week.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Parkland Corp PKI.TO: BMO raises price target to C$50 from C$45
Premium Brands Holdings Corp PBH.TO: Scotiabank cuts target price to C$128 from C$131
Air Canada AC.TO: TD Securities cuts target price to C$26 from C$28
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1,861.9; +0.7% GOL/
US crude CLc1: $52.73; +1.02% O/R
Brent crude LCOc1: $55.78; +1.33% O/R
U.S. ECONOMIC DATA DUE ON MONDAY
0945 Markit Manufacturing PMI Final for Jan: Prior 59.1
1000 Construction spending mm for Dec: Expected 0.9%; Prior 0.9%
1000 ISM Manufacturing PMI for Jan: Expected 60.0; Prior 60.7
1000 ISM Manufacturing Prices Paid for Jan: Expected 77.7; Prior 77.6
1000 ISM Manufacturing Employment Index for Jan: Prior 51.5
1000 ISM Manufacturing New Orders Index for Jan: Prior 67.9
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.28)
(Reporting by Shivani Kumaresan in Bengaluru; Editing by Shailesh Kuber)
((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Data for Canada's manufacturing PMI for January is due at 9:30 a.m. Canada's northern territories have achieved much higher COVID-19 vaccination rates than its more populous provinces despite geographic challenges in a sign that prioritizing vaccine rollout in indigenous and rural communities is paying off. Parkland Corp PKI.TO: BMO raises price target to C$50 from C$45 Premium Brands Holdings Corp PBH.TO: Scotiabank cuts target price to C$128 from C$131 Air Canada AC.TO: TD Securities cuts target price to C$26 from C$28 COMMODITIES AT 7:00 a.m. | 0945 Markit Manufacturing PMI Final for Jan: Prior 59.1 1000 Construction spending mm for Dec: Expected 0.9%; Prior 0.9% 1000 ISM Manufacturing PMI for Jan: Expected 60.0; Prior 60.7 1000 ISM Manufacturing Prices Paid for Jan: Expected 77.7; Prior 77.6 1000 ISM Manufacturing Employment Index for Jan: Prior 51.5 1000 ISM Manufacturing New Orders Index for Jan: Prior 67.9 Data for Canada's manufacturing PMI for January is due at 9:30 a.m. Canada's northern territories have achieved much higher COVID-19 vaccination rates than its more populous provinces despite geographic challenges in a sign that prioritizing vaccine rollout in indigenous and rural communities is paying off. | 0945 Markit Manufacturing PMI Final for Jan: Prior 59.1 1000 Construction spending mm for Dec: Expected 0.9%; Prior 0.9% 1000 ISM Manufacturing PMI for Jan: Expected 60.0; Prior 60.7 1000 ISM Manufacturing Prices Paid for Jan: Expected 77.7; Prior 77.6 1000 ISM Manufacturing Employment Index for Jan: Prior 51.5 1000 ISM Manufacturing New Orders Index for Jan: Prior 67.9 Data for Canada's manufacturing PMI for January is due at 9:30 a.m. Canada's northern territories have achieved much higher COVID-19 vaccination rates than its more populous provinces despite geographic challenges in a sign that prioritizing vaccine rollout in indigenous and rural communities is paying off. | Data for Canada's manufacturing PMI for January is due at 9:30 a.m. Canada's northern territories have achieved much higher COVID-19 vaccination rates than its more populous provinces despite geographic challenges in a sign that prioritizing vaccine rollout in indigenous and rural communities is paying off. Parkland Corp PKI.TO: BMO raises price target to C$50 from C$45 Premium Brands Holdings Corp PBH.TO: Scotiabank cuts target price to C$128 from C$131 Air Canada AC.TO: TD Securities cuts target price to C$26 from C$28 COMMODITIES AT 7:00 a.m. |
35031.0 | 2021-01-31 00:00:00 UTC | Mexico says tourism could lose $782 million from Canada flight freeze | AC | https://www.nasdaq.com/articles/mexico-says-tourism-could-lose-%24782-million-from-canada-flight-freeze-2021-01-31 | nan | nan | MEXICO CITY, Jan 31 (Reuters) - Canada's decision to suspend flights by its major airlines to Mexico for three months to curb the spread of the COVID-19 pandemic could cost the Mexican tourism industry around $782 million in lost revenue, Mexico's government said on Sunday.
Tourism Minister Miguel Torruco made the estimate on the basis there could be up to 791,000 fewer tourists as a result of the suspension Canada imposed from Sunday through April 30, his ministry said in a statement.
Still, the losses may end up smaller, Torruco said.
The minister said Canada could also miss out on 372,000 Mexican visitors and $368 million in lost revenues because of freezing the flights.
Mexico has not moved to suspend flights to Canada, although one airline, Aeromexico AEROMEX.MX, said it would halt flights to Canada from the second week of February until the end of April.
Compared with 2019, the number of visitors to Mexico from Canada fell last year by 61.3% to 1,020,000, the ministry said.
(Reporting by Dave Graham; Editing by Peter Cooney)
((dave.graham@thomsonreuters.com; +52 55 5282 7146; Reuters Messaging: dave.graham.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Tourism Minister Miguel Torruco made the estimate on the basis there could be up to 791,000 fewer tourists as a result of the suspension Canada imposed from Sunday through April 30, his ministry said in a statement. The minister said Canada could also miss out on 372,000 Mexican visitors and $368 million in lost revenues because of freezing the flights. Compared with 2019, the number of visitors to Mexico from Canada fell last year by 61.3% to 1,020,000, the ministry said. | MEXICO CITY, Jan 31 (Reuters) - Canada's decision to suspend flights by its major airlines to Mexico for three months to curb the spread of the COVID-19 pandemic could cost the Mexican tourism industry around $782 million in lost revenue, Mexico's government said on Sunday. The minister said Canada could also miss out on 372,000 Mexican visitors and $368 million in lost revenues because of freezing the flights. Mexico has not moved to suspend flights to Canada, although one airline, Aeromexico AEROMEX.MX, said it would halt flights to Canada from the second week of February until the end of April. | MEXICO CITY, Jan 31 (Reuters) - Canada's decision to suspend flights by its major airlines to Mexico for three months to curb the spread of the COVID-19 pandemic could cost the Mexican tourism industry around $782 million in lost revenue, Mexico's government said on Sunday. Tourism Minister Miguel Torruco made the estimate on the basis there could be up to 791,000 fewer tourists as a result of the suspension Canada imposed from Sunday through April 30, his ministry said in a statement. Mexico has not moved to suspend flights to Canada, although one airline, Aeromexico AEROMEX.MX, said it would halt flights to Canada from the second week of February until the end of April. | MEXICO CITY, Jan 31 (Reuters) - Canada's decision to suspend flights by its major airlines to Mexico for three months to curb the spread of the COVID-19 pandemic could cost the Mexican tourism industry around $782 million in lost revenue, Mexico's government said on Sunday. Tourism Minister Miguel Torruco made the estimate on the basis there could be up to 791,000 fewer tourists as a result of the suspension Canada imposed from Sunday through April 30, his ministry said in a statement. Still, the losses may end up smaller, Torruco said. |
35032.0 | 2021-01-29 00:00:00 UTC | CANADA STOCKS - TSX falls 1.97% to 17,309.74 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-1.97-to-17309.74-2021-01-29 | nan | nan | * The Toronto Stock Exchange's TSX falls 1.97 percent to 17,309.74
* Leading the index were MAG Silver Corp , up 8.9%, First Majestic Silver Corp FR.TO, up 6.7%, and Silvercorp Metals Inc SVM.TO, higher by 5.4%.
* Lagging shares were Westshore Terminals Investment Corp WTE.TO, down 6.2%, Teck Resources Ltd TECKb.TO, down 5.8%, and Aphria Inc APHA.TO, lower by 5.4%.
* On the TSX 28 issues rose and 192 fell as a 0.1-to-1 ratio favored decliners. There was 1 new high and no new lows, with total volume of 208.0 million shares.
* The most heavily traded shares by volume were Blackberry Ltd BB.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN fell 2.15 points, or 2.3%, while the financials sector .SPTTFS slipped 6.44 points, or 2.1%.
* West Texas Intermediate crude futures CLc1 fell 0.25%, or $0.13, to $52.21 a barrel. Brent crude LCOc1 rose 0.65%, or $0.36, to $55.89 O/R
* The TSX is off 0.7% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX falls 1.97 percent to 17,309.74 * Leading the index were MAG Silver Corp , up 8.9%, First Majestic Silver Corp FR.TO, up 6.7%, and Silvercorp Metals Inc SVM.TO, higher by 5.4%. * Lagging shares were Westshore Terminals Investment Corp WTE.TO, down 6.2%, Teck Resources Ltd TECKb.TO, down 5.8%, and Aphria Inc APHA.TO, lower by 5.4%. | * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX falls 1.97 percent to 17,309.74 * Leading the index were MAG Silver Corp , up 8.9%, First Majestic Silver Corp FR.TO, up 6.7%, and Silvercorp Metals Inc SVM.TO, higher by 5.4%. * On the TSX 28 issues rose and 192 fell as a 0.1-to-1 ratio favored decliners. | * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX falls 1.97 percent to 17,309.74 * Leading the index were MAG Silver Corp , up 8.9%, First Majestic Silver Corp FR.TO, up 6.7%, and Silvercorp Metals Inc SVM.TO, higher by 5.4%. * On the TSX 28 issues rose and 192 fell as a 0.1-to-1 ratio favored decliners. | * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX falls 1.97 percent to 17,309.74 * Leading the index were MAG Silver Corp , up 8.9%, First Majestic Silver Corp FR.TO, up 6.7%, and Silvercorp Metals Inc SVM.TO, higher by 5.4%. * Lagging shares were Westshore Terminals Investment Corp WTE.TO, down 6.2%, Teck Resources Ltd TECKb.TO, down 5.8%, and Aphria Inc APHA.TO, lower by 5.4%. |
35033.0 | 2021-01-29 00:00:00 UTC | Canada airlines agree to cancel all flights to warm destinations - PM Trudeau | AC | https://www.nasdaq.com/articles/canada-airlines-agree-to-cancel-all-flights-to-warm-destinations-pm-trudeau-2021-01-29 | nan | nan | OTTAWA, Jan 29 (Reuters) - Canada's major airlines have agreed to suspend all flights to Mexico and the Caribbean until April 30 from Sunday as part of the fight against a second wave of the coronavirus, Prime Minister Justin Trudeau said on Friday.
Trudeau also told reporters that all arriving airline passengers would be required to take a mandatory COVID-19 test at the airport and then wait in a hotel at their own expense until the results arrived.
(Reporting by David Ljunggren)
((david.ljunggren@tr.com; +1 647 480 7891;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Jan 29 (Reuters) - Canada's major airlines have agreed to suspend all flights to Mexico and the Caribbean until April 30 from Sunday as part of the fight against a second wave of the coronavirus, Prime Minister Justin Trudeau said on Friday. Trudeau also told reporters that all arriving airline passengers would be required to take a mandatory COVID-19 test at the airport and then wait in a hotel at their own expense until the results arrived. (Reporting by David Ljunggren) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Jan 29 (Reuters) - Canada's major airlines have agreed to suspend all flights to Mexico and the Caribbean until April 30 from Sunday as part of the fight against a second wave of the coronavirus, Prime Minister Justin Trudeau said on Friday. Trudeau also told reporters that all arriving airline passengers would be required to take a mandatory COVID-19 test at the airport and then wait in a hotel at their own expense until the results arrived. (Reporting by David Ljunggren) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Jan 29 (Reuters) - Canada's major airlines have agreed to suspend all flights to Mexico and the Caribbean until April 30 from Sunday as part of the fight against a second wave of the coronavirus, Prime Minister Justin Trudeau said on Friday. Trudeau also told reporters that all arriving airline passengers would be required to take a mandatory COVID-19 test at the airport and then wait in a hotel at their own expense until the results arrived. (Reporting by David Ljunggren) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Jan 29 (Reuters) - Canada's major airlines have agreed to suspend all flights to Mexico and the Caribbean until April 30 from Sunday as part of the fight against a second wave of the coronavirus, Prime Minister Justin Trudeau said on Friday. Trudeau also told reporters that all arriving airline passengers would be required to take a mandatory COVID-19 test at the airport and then wait in a hotel at their own expense until the results arrived. (Reporting by David Ljunggren) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
35034.0 | 2021-01-26 00:00:00 UTC | Canada to unveil more steps to restrict foreign travel, sees no vaccine supply problems | AC | https://www.nasdaq.com/articles/canada-to-unveil-more-steps-to-restrict-foreign-travel-sees-no-vaccine-supply-problems | nan | nan | Adds comments by prime minister, other details
OTTAWA, Jan 26 (Reuters) - Canada will soon take more steps to restrict foreign travel as part of its campaign to clamp down on the coronavirus, Prime Minister Justin Trudeau told reporters on Tuesday, but did not give details.
Trudeau also said he did not expect Canada to be affected by shortages of COVID-19 vaccines that are hitting some European Union nations. The issues largely center around AstraZeneca Plc's AZN.L vaccine, which Canada has not approved yet, he said.
A second wave of coronavirus is sweeping Canada and health officials say some hospitals run the risk of being overwhelmed. Trudeau is urging Canadians not to travel abroad and said Ottawa intended to introduce more restrictions.
"All options are on the table and we will be announcing new measures very soon," he said.
Trudeau had previously said one possibility would be to oblige arriving passengers to spend a 14-day quarantine period in a hotel at their own expense.
People arriving from abroad currently only have to promise they will go into two weeks of quarantine. Canada obliges everyone flying into the country to provide a mandatory negative test for coronavirus.
(Reporting by David Ljunggren in Ottawa, Editing by Franklin Paul and Matthew Lewis)
((david.ljunggren@tr.com; +1 647 480 7891;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Trudeau also said he did not expect Canada to be affected by shortages of COVID-19 vaccines that are hitting some European Union nations. The issues largely center around AstraZeneca Plc's AZN.L vaccine, which Canada has not approved yet, he said. Adds comments by prime minister, other details OTTAWA, Jan 26 (Reuters) - Canada will soon take more steps to restrict foreign travel as part of its campaign to clamp down on the coronavirus, Prime Minister Justin Trudeau told reporters on Tuesday, but did not give details. | Trudeau also said he did not expect Canada to be affected by shortages of COVID-19 vaccines that are hitting some European Union nations. The issues largely center around AstraZeneca Plc's AZN.L vaccine, which Canada has not approved yet, he said. Adds comments by prime minister, other details OTTAWA, Jan 26 (Reuters) - Canada will soon take more steps to restrict foreign travel as part of its campaign to clamp down on the coronavirus, Prime Minister Justin Trudeau told reporters on Tuesday, but did not give details. | Trudeau also said he did not expect Canada to be affected by shortages of COVID-19 vaccines that are hitting some European Union nations. The issues largely center around AstraZeneca Plc's AZN.L vaccine, which Canada has not approved yet, he said. Adds comments by prime minister, other details OTTAWA, Jan 26 (Reuters) - Canada will soon take more steps to restrict foreign travel as part of its campaign to clamp down on the coronavirus, Prime Minister Justin Trudeau told reporters on Tuesday, but did not give details. | Trudeau also said he did not expect Canada to be affected by shortages of COVID-19 vaccines that are hitting some European Union nations. The issues largely center around AstraZeneca Plc's AZN.L vaccine, which Canada has not approved yet, he said. Trudeau is urging Canadians not to travel abroad and said Ottawa intended to introduce more restrictions. |
35035.0 | 2021-01-26 00:00:00 UTC | Canada will soon unveil more steps to clamp down on foreign travel - PM Trudeau | AC | https://www.nasdaq.com/articles/canada-will-soon-unveil-more-steps-to-clamp-down-on-foreign-travel-pm-trudeau-2021-01-26 | nan | nan | OTTAWA, Jan 26 (Reuters) - Canada will shortly take more steps to restrict foreign travel as part of its campaign to clamp down on the coronavirus, Prime Minister Justin Trudeau told reporters on Tuesday, but did not give details.
Trudeau had previously said one option would be to oblige arriving passengers to spend a 14-day quarantine period in a hotel at their own expense.
(Reporting by David Ljunggren, Editing by Franklin Paul)
((david.ljunggren@tr.com; +1 647 480 7891;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Jan 26 (Reuters) - Canada will shortly take more steps to restrict foreign travel as part of its campaign to clamp down on the coronavirus, Prime Minister Justin Trudeau told reporters on Tuesday, but did not give details. Trudeau had previously said one option would be to oblige arriving passengers to spend a 14-day quarantine period in a hotel at their own expense. (Reporting by David Ljunggren, Editing by Franklin Paul) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Jan 26 (Reuters) - Canada will shortly take more steps to restrict foreign travel as part of its campaign to clamp down on the coronavirus, Prime Minister Justin Trudeau told reporters on Tuesday, but did not give details. Trudeau had previously said one option would be to oblige arriving passengers to spend a 14-day quarantine period in a hotel at their own expense. (Reporting by David Ljunggren, Editing by Franklin Paul) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Jan 26 (Reuters) - Canada will shortly take more steps to restrict foreign travel as part of its campaign to clamp down on the coronavirus, Prime Minister Justin Trudeau told reporters on Tuesday, but did not give details. Trudeau had previously said one option would be to oblige arriving passengers to spend a 14-day quarantine period in a hotel at their own expense. (Reporting by David Ljunggren, Editing by Franklin Paul) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Jan 26 (Reuters) - Canada will shortly take more steps to restrict foreign travel as part of its campaign to clamp down on the coronavirus, Prime Minister Justin Trudeau told reporters on Tuesday, but did not give details. Trudeau had previously said one option would be to oblige arriving passengers to spend a 14-day quarantine period in a hotel at their own expense. (Reporting by David Ljunggren, Editing by Franklin Paul) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
35036.0 | 2021-01-22 00:00:00 UTC | CANADA STOCKS-TSX futures fall on lower oil, gold prices; retail sales data eyed | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-fall-on-lower-oil-gold-prices-retail-sales-data-eyed-2021-01-22 | nan | nan | Jan 22 (Reuters) - Futures for Canada's main stock index fell on Friday, dragged by lower crude and gold prices, ahead of domestic retail sales data due later in the day.
Canada's retail sales data for November is due at 08:30 a.m. ET. The nation's retail sales are expected to rise 0.1% in November, according to a Reuters poll.
March futures on the S&P/TSX index SXFc1 were down 0.44% at 7:00 a.m. ET.
Brent crude LCOc1 futures and U.S. West | The nation's retail sales are expected to rise 0.1% in November, according to a Reuters poll. Jan 22 (Reuters) - Futures for Canada's main stock index fell on Friday, dragged by lower crude and gold prices, ahead of domestic retail sales data due later in the day. Canada's retail sales data for November is due at 08:30 a.m. | The nation's retail sales are expected to rise 0.1% in November, according to a Reuters poll. Jan 22 (Reuters) - Futures for Canada's main stock index fell on Friday, dragged by lower crude and gold prices, ahead of domestic retail sales data due later in the day. Canada's retail sales data for November is due at 08:30 a.m. | The nation's retail sales are expected to rise 0.1% in November, according to a Reuters poll. Jan 22 (Reuters) - Futures for Canada's main stock index fell on Friday, dragged by lower crude and gold prices, ahead of domestic retail sales data due later in the day. Canada's retail sales data for November is due at 08:30 a.m. | The nation's retail sales are expected to rise 0.1% in November, according to a Reuters poll. Jan 22 (Reuters) - Futures for Canada's main stock index fell on Friday, dragged by lower crude and gold prices, ahead of domestic retail sales data due later in the day. Canada's retail sales data for November is due at 08:30 a.m. |
35037.0 | 2021-01-18 00:00:00 UTC | Canada to lift Boeing 737 MAX flight ban on January 20 | AC | https://www.nasdaq.com/articles/canada-to-lift-boeing-737-max-flight-ban-on-january-20-2021-01-18 | nan | nan | Adds Air Canada statement
MONTREAL, Jan 18 (Reuters) - Canada said on Monday it will lift a near two-year flight ban on Boeing Co's BA.N 737 MAX on Jan. 20, joining other countries like the United States that have brought the aircraft back following two fatal crashes involving the model.
Regulator Transport Canada also said in a release that ithad issued an airworthiness directive to aircraft owners, aircraft maintenance engineers and foreign civil aviation authorities, along with an interim order that outlines requirements for airlines on additional crew training.
Separately, Air Canada AC.TO said it would resume Boeing 737 MAX commercial operations on Feb. 1.
The airline said the aircraft would gradually return to its North American route network.
Canada said in December it expected to rescind its flight ban on the Boeing 737 MAX in January after approving design changes to the aircraft, which was grounded in March 2019 following two fatal crashes.
(Reporting By Allison Lampert in Montreal and Noor Zainab Hussain in Bengaluru Editing by Mark Heinrich)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds Air Canada statement MONTREAL, Jan 18 (Reuters) - Canada said on Monday it will lift a near two-year flight ban on Boeing Co's BA.N 737 MAX on Jan. 20, joining other countries like the United States that have brought the aircraft back following two fatal crashes involving the model. Separately, Air Canada AC.TO said it would resume Boeing 737 MAX commercial operations on Feb. 1. Regulator Transport Canada also said in a release that ithad issued an airworthiness directive to aircraft owners, aircraft maintenance engineers and foreign civil aviation authorities, along with an interim order that outlines requirements for airlines on additional crew training. | Adds Air Canada statement MONTREAL, Jan 18 (Reuters) - Canada said on Monday it will lift a near two-year flight ban on Boeing Co's BA.N 737 MAX on Jan. 20, joining other countries like the United States that have brought the aircraft back following two fatal crashes involving the model. Separately, Air Canada AC.TO said it would resume Boeing 737 MAX commercial operations on Feb. 1. Canada said in December it expected to rescind its flight ban on the Boeing 737 MAX in January after approving design changes to the aircraft, which was grounded in March 2019 following two fatal crashes. | Adds Air Canada statement MONTREAL, Jan 18 (Reuters) - Canada said on Monday it will lift a near two-year flight ban on Boeing Co's BA.N 737 MAX on Jan. 20, joining other countries like the United States that have brought the aircraft back following two fatal crashes involving the model. Separately, Air Canada AC.TO said it would resume Boeing 737 MAX commercial operations on Feb. 1. Regulator Transport Canada also said in a release that ithad issued an airworthiness directive to aircraft owners, aircraft maintenance engineers and foreign civil aviation authorities, along with an interim order that outlines requirements for airlines on additional crew training. | Adds Air Canada statement MONTREAL, Jan 18 (Reuters) - Canada said on Monday it will lift a near two-year flight ban on Boeing Co's BA.N 737 MAX on Jan. 20, joining other countries like the United States that have brought the aircraft back following two fatal crashes involving the model. Separately, Air Canada AC.TO said it would resume Boeing 737 MAX commercial operations on Feb. 1. Regulator Transport Canada also said in a release that ithad issued an airworthiness directive to aircraft owners, aircraft maintenance engineers and foreign civil aviation authorities, along with an interim order that outlines requirements for airlines on additional crew training. |
35038.0 | 2021-01-18 00:00:00 UTC | EMERGING MARKETS-Samsung Elec knocks down S. Korean stocks; banks drag Malaysia | AC | https://www.nasdaq.com/articles/emerging-markets-samsung-elec-knocks-down-s.-korean-stocks-banks-drag-malaysia-2021-01-18 | nan | nan | By Shriya Ramakrishnan
Jan 18 (Reuters) - South Korean shares fell more than 2% on Monday, dragged down by steep losses in heavyweight Samsung Electronics, after its vice chairman was sentenced to two and a half years in prison over a bribery case, while banking stocks led Malaysia lower.
Losses in South Korea's KOSPI .KS11 accelerated in afternoon trade, with the benchmark index sliding as much as 2.7%. The won KRW=KFTC weakened 0.4%.
Shares of Samsung Electronics 005930.KS slipped up to 4%, its sharpest fall in five months after the local court's ruling, which will have major ramifications for Jay Y. Lee's leadership of the tech giant as well as Korea's views toward big businesses.
"Samsung Electronics has risen quite sharply recently, and a major difference from the past is that retail investors' stakes in the company has risen significantly," said Lee Seung-woo, analyst at Eugene Investment & Securities.
"Shares are swinging much sharper compared to past trials because retail investors seem to be more focused on the idea of (the government's) pressure on Samsung rather than the performance and industry outlook."
Malaysian shares .KLSE slipped 1%, with the banking sector accounting for a major chunk of losses as investors bet an interest rate cut by the central bank on Wednesday could further pressure lenders' margins.
Majority of the economists polled by Reuters expect Bank Negara Malaysia (BNM) to cut its overnight policy rate to a record low of 1.50%, after surging coronavirus infections led the government to impose fresh lockdowns, further curbing economic activity.
"Unlike most other Asian central banks, which have almost exhausted their rate policies, BNM still has room to cut the policy rate further," analysts at ING said in a client note.
"The earlier the BNM cuts, the better it will be to soften the blow to the economy from the worsening pandemic."
The ringgit MYR= weakened 0.3%, tracking a drop in crude prices, one of Malaysia's top export items.
Most other Asian currencies also struggled to make headway as softening U.S. economic data and rising global coronavirus cases lifted the greenback's safe-haven appeal. The Indian rupee INR=IN and the Indonesian rupiah IDR= dipped 0.2% and 0.4%, respectively.
Philippine shares .PSI pared some of its earlier losses to trade 0.5% lower, boosted by few blue chip consumer and real estate stocks.
The benchmark index fell up to 1.1% in early trade, after the Philippines extended a ban on travellers from more than 30 countries following the first case of a more contagious COVID-19 variant in the country.
HIGHLIGHTS:
** Thailand's 10-year government bond yields are down 3 basis points at 1.24%
** Top losers on FTSE Bursa Malaysia Kl Index .KLSE include Genting Malaysia Bhd GENM.KL down 3.2% at 2.42 ringgit; Genting Bhd GENT.KL down 3.02% at 4.17 ringgit
** In the Philippines, top index gainers are Universal Robina Corp URC.PS up 1.47% at 158.6 peso, Aboitiz Power Corp AP.PS up 1.15% at 26.35 peso, Ayala Corp AC.PS up 0.61% at 825 peso
Asia stock indexes and currencies at 0744 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
+0.13
-0.47
.N225
-0.97
2.91
China
CNY=CFXS
-0.09
+0.63
.SSEC
0.84
3.55
India
INR=IN
-0.23
-0.24
.NSEI
-0.81
2.40
Indonesia
IDR=
-0.36
-0.14
.JKSE
0.10
6.70
Malaysia
MYR=
-0.32
-0.69
.KLSE
-1.00
-1.01
Philippines
PHP=
-0.04
-0.10
.PSI
-0.48
0.89
S.Korea
KRW=KFTC
-0.41
-1.60
.KS11
-2.33
4.89
Singapore
SGD=
-0.18
-0.84
.STI
-0.70
4.92
Taiwan
TWD=TP
+1.73
+1.74
.TWII
-0.03
5.97
Thailand
THB=TH
-0.23
-0.43
.SETI
-0.83
3.95
(Reporting by Shriya Ramakrishnan in Bengaluru; Additional reporting by Jihoon Lee; Editing by Rashmi Aich)
((Shriya.Ramakrishnan@thomsonreuters.com; +91 8061822842 ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Majority of the economists polled by Reuters expect Bank Negara Malaysia (BNM) to cut its overnight policy rate to a record low of 1.50%, after surging coronavirus infections led the government to impose fresh lockdowns, further curbing economic activity. Losses in South Korea's KOSPI .KS11 accelerated in afternoon trade, with the benchmark index sliding as much as 2.7%. Malaysian shares .KLSE slipped 1%, with the banking sector accounting for a major chunk of losses as investors bet an interest rate cut by the central bank on Wednesday could further pressure lenders' margins. | Majority of the economists polled by Reuters expect Bank Negara Malaysia (BNM) to cut its overnight policy rate to a record low of 1.50%, after surging coronavirus infections led the government to impose fresh lockdowns, further curbing economic activity. ** Thailand's 10-year government bond yields are down 3 basis points at 1.24% ** Top losers on FTSE Bursa Malaysia Kl Index .KLSE include Genting Malaysia Bhd GENM.KL down 3.2% at 2.42 ringgit; Genting Bhd GENT.KL down 3.02% at 4.17 ringgit ** In the Philippines, top index gainers are Universal Robina Corp URC.PS up 1.47% at 158.6 peso, Aboitiz Power Corp AP.PS up 1.15% at 26.35 peso, Ayala Corp AC.PS up 0.61% at 825 peso Asia stock indexes and currencies at 0744 GMT Losses in South Korea's KOSPI .KS11 accelerated in afternoon trade, with the benchmark index sliding as much as 2.7%. | Majority of the economists polled by Reuters expect Bank Negara Malaysia (BNM) to cut its overnight policy rate to a record low of 1.50%, after surging coronavirus infections led the government to impose fresh lockdowns, further curbing economic activity. ** Thailand's 10-year government bond yields are down 3 basis points at 1.24% ** Top losers on FTSE Bursa Malaysia Kl Index .KLSE include Genting Malaysia Bhd GENM.KL down 3.2% at 2.42 ringgit; Genting Bhd GENT.KL down 3.02% at 4.17 ringgit ** In the Philippines, top index gainers are Universal Robina Corp URC.PS up 1.47% at 158.6 peso, Aboitiz Power Corp AP.PS up 1.15% at 26.35 peso, Ayala Corp AC.PS up 0.61% at 825 peso Asia stock indexes and currencies at 0744 GMT Losses in South Korea's KOSPI .KS11 accelerated in afternoon trade, with the benchmark index sliding as much as 2.7%. | The ringgit MYR= weakened 0.3%, tracking a drop in crude prices, one of Malaysia's top export items. ** Thailand's 10-year government bond yields are down 3 basis points at 1.24% ** Top losers on FTSE Bursa Malaysia Kl Index .KLSE include Genting Malaysia Bhd GENM.KL down 3.2% at 2.42 ringgit; Genting Bhd GENT.KL down 3.02% at 4.17 ringgit ** In the Philippines, top index gainers are Universal Robina Corp URC.PS up 1.47% at 158.6 peso, Aboitiz Power Corp AP.PS up 1.15% at 26.35 peso, Ayala Corp AC.PS up 0.61% at 825 peso Asia stock indexes and currencies at 0744 GMT Losses in South Korea's KOSPI .KS11 accelerated in afternoon trade, with the benchmark index sliding as much as 2.7%. |
35039.0 | 2021-01-13 00:00:00 UTC | Air Canada to cut jobs amid COVID-19 restrictions, aid talks stalled | AC | https://www.nasdaq.com/articles/air-canada-to-cut-jobs-amid-covid-19-restrictions-aid-talks-stalled-2021-01-13 | nan | nan | By Allison Lampert and David Ljunggren
MONTREAL/OTTAWA, Jan 13 (Reuters) - Air Canada AC.TO said on Wednesday it would cut first-quarter capacity by an additional 25% as measures to combat COVID-19 hit bookings, while two well-placed sources said talks over a federal aid package had stalled.
Air Canada and rival WestJet Airlines - faced with huge slumps in demand - have been negotiating with the Liberal government since November. Progress is very slow amid disagreements over what Ottawa should offer, said the sources.
Air Canada said capacity in the first quarter would be about 20% of what it was during the first three months of 2019. The latest move by Canada's biggest carrier will mean a workforce reduction of about 1,700 employees.
WestJet said last week it would reduce capacity, with schedule cuts that would mean furloughs, layoffs, unpaid leaves or reduced hours.
The Liberal government says it is prepared to help the carriers but insists they reinstate regional routes they have suspended amid low demand, and refund passengers for tickets they can no longer use.
One source familiar with the talks said Air Canada wanted Ottawa to offer low-cost loans, citing what France, the Netherlands and the United States have done.
"The airlines have not bent at all," said the source, who requested anonymity given the sensitivity of the talks.
Ottawa would only agree to better terms if there were "an awful lot more extracted from the airlines," the source added, without providing details.
Air Canada said the job and route cuts "better reflect expected demand" and will "reduce cash burn," but it was not immediately available for comment about the government negotiations.
Jerry Dias, head of the Unifor trade union, said Air Canada's move "leaves airline workers with continued disappointment in the federal government's lack of action."
Ottawa is "disappointed by airlines' decisions to cancel more regional routes," a spokeswoman for new Transport Minister Omar Alghabra said.
(With additional reporting by Ankit Ajmera in Bengaluru; Editing by Krishna Chandra Eluri and Steve Orlofsky)
((Ankit.Ajmera@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Allison Lampert and David Ljunggren MONTREAL/OTTAWA, Jan 13 (Reuters) - Air Canada AC.TO said on Wednesday it would cut first-quarter capacity by an additional 25% as measures to combat COVID-19 hit bookings, while two well-placed sources said talks over a federal aid package had stalled. Jerry Dias, head of the Unifor trade union, said Air Canada's move "leaves airline workers with continued disappointment in the federal government's lack of action." Air Canada and rival WestJet Airlines - faced with huge slumps in demand - have been negotiating with the Liberal government since November. | Jerry Dias, head of the Unifor trade union, said Air Canada's move "leaves airline workers with continued disappointment in the federal government's lack of action." By Allison Lampert and David Ljunggren MONTREAL/OTTAWA, Jan 13 (Reuters) - Air Canada AC.TO said on Wednesday it would cut first-quarter capacity by an additional 25% as measures to combat COVID-19 hit bookings, while two well-placed sources said talks over a federal aid package had stalled. Air Canada and rival WestJet Airlines - faced with huge slumps in demand - have been negotiating with the Liberal government since November. | By Allison Lampert and David Ljunggren MONTREAL/OTTAWA, Jan 13 (Reuters) - Air Canada AC.TO said on Wednesday it would cut first-quarter capacity by an additional 25% as measures to combat COVID-19 hit bookings, while two well-placed sources said talks over a federal aid package had stalled. Jerry Dias, head of the Unifor trade union, said Air Canada's move "leaves airline workers with continued disappointment in the federal government's lack of action." Air Canada and rival WestJet Airlines - faced with huge slumps in demand - have been negotiating with the Liberal government since November. | By Allison Lampert and David Ljunggren MONTREAL/OTTAWA, Jan 13 (Reuters) - Air Canada AC.TO said on Wednesday it would cut first-quarter capacity by an additional 25% as measures to combat COVID-19 hit bookings, while two well-placed sources said talks over a federal aid package had stalled. Air Canada and rival WestJet Airlines - faced with huge slumps in demand - have been negotiating with the Liberal government since November. Air Canada said capacity in the first quarter would be about 20% of what it was during the first three months of 2019. |
35040.0 | 2021-01-13 00:00:00 UTC | Air Canada to reduce 1,700 employees as COVID-19 restrictions, lockdowns bite | AC | https://www.nasdaq.com/articles/air-canada-to-reduce-1700-employees-as-covid-19-restrictions-lockdowns-bite-2021-01-13 | nan | nan | Adds context, government spokeswoman
Jan 13 (Reuters) - Air Canada AC.TO said on Wednesday it will cut first-quarter capacity by an additional 25%, resulting in a workforce reduction of about 1,700 employees, as travel restrictions, lockdowns and new testing requirements to combat the spread of COVID-19 hit bookings.
Carriers have been wrestling with a slump in demand and passenger confusion, following the Jan. 7 introduction of new Canadian rules requiring travelers to test negative for the novel coronavirus before boarding a plane bound for the country.
Privately held WestJet Airlines said last week it would reduce capacity, with schedule cuts that would mean furloughs, layoffs, unpaid leaves or reduced hours for about 1,000 employees.
Following the announcement, Air Canada said capacity in the first quarter of 2021 would be about 20 per cent of what it operated during the first three months of 2019.
The country's largest carrier said the changes to its schedule "better reflect expected demand" and will "reduce cash burn."
The Canadian government is "disappointed by airlines' decisions to cancel more regional routes," a spokeswoman said by email.
“COVID-19 has led to an unprecedented situation in the aviation sector," said Allison St-Jean, a press aide for the country's new transport minister, Omar Alhambra. "We are fully seized with the issue of how hard the air sector has been hit because of COVID-19, and we are committed to providing assistance to Canada’s air sector."
(Reporting by Ankit Ajmera in Bengaluru and Allison Lampert in Montreal; Editing by Krishna Chandra Eluri aand Steve Orlofsky)
((Ankit.Ajmera@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds context, government spokeswoman Jan 13 (Reuters) - Air Canada AC.TO said on Wednesday it will cut first-quarter capacity by an additional 25%, resulting in a workforce reduction of about 1,700 employees, as travel restrictions, lockdowns and new testing requirements to combat the spread of COVID-19 hit bookings. Privately held WestJet Airlines said last week it would reduce capacity, with schedule cuts that would mean furloughs, layoffs, unpaid leaves or reduced hours for about 1,000 employees. Following the announcement, Air Canada said capacity in the first quarter of 2021 would be about 20 per cent of what it operated during the first three months of 2019. | Adds context, government spokeswoman Jan 13 (Reuters) - Air Canada AC.TO said on Wednesday it will cut first-quarter capacity by an additional 25%, resulting in a workforce reduction of about 1,700 employees, as travel restrictions, lockdowns and new testing requirements to combat the spread of COVID-19 hit bookings. Privately held WestJet Airlines said last week it would reduce capacity, with schedule cuts that would mean furloughs, layoffs, unpaid leaves or reduced hours for about 1,000 employees. Following the announcement, Air Canada said capacity in the first quarter of 2021 would be about 20 per cent of what it operated during the first three months of 2019. | Adds context, government spokeswoman Jan 13 (Reuters) - Air Canada AC.TO said on Wednesday it will cut first-quarter capacity by an additional 25%, resulting in a workforce reduction of about 1,700 employees, as travel restrictions, lockdowns and new testing requirements to combat the spread of COVID-19 hit bookings. Privately held WestJet Airlines said last week it would reduce capacity, with schedule cuts that would mean furloughs, layoffs, unpaid leaves or reduced hours for about 1,000 employees. Following the announcement, Air Canada said capacity in the first quarter of 2021 would be about 20 per cent of what it operated during the first three months of 2019. | Adds context, government spokeswoman Jan 13 (Reuters) - Air Canada AC.TO said on Wednesday it will cut first-quarter capacity by an additional 25%, resulting in a workforce reduction of about 1,700 employees, as travel restrictions, lockdowns and new testing requirements to combat the spread of COVID-19 hit bookings. Following the announcement, Air Canada said capacity in the first quarter of 2021 would be about 20 per cent of what it operated during the first three months of 2019. Privately held WestJet Airlines said last week it would reduce capacity, with schedule cuts that would mean furloughs, layoffs, unpaid leaves or reduced hours for about 1,000 employees. |
35041.0 | 2021-01-11 00:00:00 UTC | Canada PM Trudeau to shuffle cabinet, name new foreign and innovation ministers - sources, media | AC | https://www.nasdaq.com/articles/canada-pm-trudeau-to-shuffle-cabinet-name-new-foreign-and-innovation-ministers-sources | nan | nan | By David Ljunggren
OTTAWA, Jan 11 (Reuters) - Canadian Prime Minister Justin Trudeau plans to shuffle his cabinet on Tuesday and name new ministers of foreign affairs, transport and innovation, sources and domestic media said on Monday.
Three sources directly familiar with the matter said Trudeau would carry out a limited shuffle on Tuesday morning.
The sources, who declined to be identified given the sensitivity of the issue, said Trudeau was acting after long-serving Innovation Minister Navdeep Bains decided to quit politics after the next election.
The Canadian Broadcasting Corp. and Global News both said Bains would be replaced by current Foreign Minister Francois-Philippe Champagne. Transport Minister Marc Garneau would take over from Champagne, they said.
Trudeau, who retained power in an October 2019 election but only has a minority of seats in the House of Commons, relies on other parties to govern.
He said last week there could well be an election this year but stressed he wanted to stay in office to focus on the coronavirus epidemic.
Canadian prime ministers traditionally shuffle their team if a member of cabinet announces he or she will not run in the next election.
The offices of Trudeau, Bains and Garneau did not respond to requests for comment. A Champagne spokesman said he had heard nothing about a shuffle.
Bains, 43, has been innovation minister since Trudeau first took power in late 2015. One of his responsibilities is deciding whether to allow China's Huawei Technologies Co Ltd HWT.UL to supply next-generation equipment for 5G networks.
Liberal sources said last year that Ottawa would ban Huawei gear from being used but was keeping silent so as not to worsen a diplomatic dispute with Beijing.
CBC and Global said Garneau would be replaced by backbench legislator Omar Alghabra. The transport minister must soon decide on whether to allow Air Canada AC.TO to buy rival Transat A.T. Inc. TRZ.TO
(Reporting by David Ljunggren in Ottawa; Editing by Michael Perry)
((david.ljunggren@tr.com; +1 647 480 7891;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The sources, who declined to be identified given the sensitivity of the issue, said Trudeau was acting after long-serving Innovation Minister Navdeep Bains decided to quit politics after the next election. The Canadian Broadcasting Corp. and Global News both said Bains would be replaced by current Foreign Minister Francois-Philippe Champagne. CBC and Global said Garneau would be replaced by backbench legislator Omar Alghabra. | The sources, who declined to be identified given the sensitivity of the issue, said Trudeau was acting after long-serving Innovation Minister Navdeep Bains decided to quit politics after the next election. The Canadian Broadcasting Corp. and Global News both said Bains would be replaced by current Foreign Minister Francois-Philippe Champagne. CBC and Global said Garneau would be replaced by backbench legislator Omar Alghabra. | The sources, who declined to be identified given the sensitivity of the issue, said Trudeau was acting after long-serving Innovation Minister Navdeep Bains decided to quit politics after the next election. The transport minister must soon decide on whether to allow Air Canada AC.TO to buy rival Transat A.T. Inc. TRZ.TO (Reporting by David Ljunggren in Ottawa; Editing by Michael Perry) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The Canadian Broadcasting Corp. and Global News both said Bains would be replaced by current Foreign Minister Francois-Philippe Champagne. | The sources, who declined to be identified given the sensitivity of the issue, said Trudeau was acting after long-serving Innovation Minister Navdeep Bains decided to quit politics after the next election. The Canadian Broadcasting Corp. and Global News both said Bains would be replaced by current Foreign Minister Francois-Philippe Champagne. CBC and Global said Garneau would be replaced by backbench legislator Omar Alghabra. |
35042.0 | 2021-01-11 00:00:00 UTC | Philippine mobile wallet GCash raises over $175 mln in new capital | AC | https://www.nasdaq.com/articles/philippine-mobile-wallet-gcash-raises-over-%24175-mln-in-new-capital-2021-01-11 | nan | nan | Updates with Mynt ownership structure
MANILA, Jan 11 (Reuters) - Philippine mobile wallet GCash has raised more than $175 million in capital from New York-based private equity fund Bow Wave Capital Management, the financial technology arm of Globe Telecom Inc GLO.PS said.
The capital injection raises the valuation of GCash to close to $1 billion, according to Globe's disclosure to the stock exchange on Monday. Bow Wave now has a 14% stake in Mynt, which operates GCash, via a local fund it manages.
Globe's stake has been diluted to 40% from 46%, while Globe parent Ayala Corp's AC.PS share has been reduced to 6% from 8%, a Globe spokeswoman told Reuters.
It also reduces the stake held by Ant Financial, the fintech arm of Alibaba 9988.HK, to 40% from 46%.
"The pandemic has acted as a catalyst in highlighting the importance of digital finance in society today and with this investment from Bow Wave, we look forward to further living out our vision of finance for all," Mynt President and CEO Martha Sazon said.
(Reporting by Enrico Dela Cruz Editing by Ed Davies, Martin Petty)
((enrico.delacruz@tr.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The capital injection raises the valuation of GCash to close to $1 billion, according to Globe's disclosure to the stock exchange on Monday. Globe's stake has been diluted to 40% from 46%, while Globe parent Ayala Corp's AC.PS share has been reduced to 6% from 8%, a Globe spokeswoman told Reuters. "The pandemic has acted as a catalyst in highlighting the importance of digital finance in society today and with this investment from Bow Wave, we look forward to further living out our vision of finance for all," Mynt President and CEO Martha Sazon said. | Globe's stake has been diluted to 40% from 46%, while Globe parent Ayala Corp's AC.PS share has been reduced to 6% from 8%, a Globe spokeswoman told Reuters. The capital injection raises the valuation of GCash to close to $1 billion, according to Globe's disclosure to the stock exchange on Monday. "The pandemic has acted as a catalyst in highlighting the importance of digital finance in society today and with this investment from Bow Wave, we look forward to further living out our vision of finance for all," Mynt President and CEO Martha Sazon said. | Globe's stake has been diluted to 40% from 46%, while Globe parent Ayala Corp's AC.PS share has been reduced to 6% from 8%, a Globe spokeswoman told Reuters. (Reporting by Enrico Dela Cruz Editing by Ed Davies, Martin Petty) ((enrico.delacruz@tr.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The capital injection raises the valuation of GCash to close to $1 billion, according to Globe's disclosure to the stock exchange on Monday. | Globe's stake has been diluted to 40% from 46%, while Globe parent Ayala Corp's AC.PS share has been reduced to 6% from 8%, a Globe spokeswoman told Reuters. The capital injection raises the valuation of GCash to close to $1 billion, according to Globe's disclosure to the stock exchange on Monday. "The pandemic has acted as a catalyst in highlighting the importance of digital finance in society today and with this investment from Bow Wave, we look forward to further living out our vision of finance for all," Mynt President and CEO Martha Sazon said. |
35043.0 | 2021-01-07 00:00:00 UTC | WestJet bars 10 passengers from boarding for improper virus test as Canadian rules start | AC | https://www.nasdaq.com/articles/westjet-bars-10-passengers-from-boarding-for-improper-virus-test-as-canadian-rules-start | nan | nan | Jan 7 (Reuters) - WestJet Airlines said on Thursday it had denied 10 passengers from boarding a flight for lacking the proper test for the novel coronavirus, just after a Canadian government requirement that passengers show proof of a negative result before boarding took effect.
Faced with a mounting second wave of infections, Canadian Transport Minister Marc Garneau said last week that air travelers aged 5 and up would need to test negative for the coronavirus before boarding the plane, starting on Jan. 7.
The global airline industry has been calling for COVID-19 testing as a way to ease travel restrictions and reopen borders without crippling quarantine measures, although Canada still requires international passengers to self-isolate for 14 days.
News of the surprise Canadian measure left airlines fearful of possible confusion over which testing facilities abroad for the coronavirus were eligible and how the results from the PCR (polymerase chain reaction) test must be presented to carriers.
WestJet said on Thursday it could not board the passengers because they did not have eligible tests to meet the new government requirement.
Garneau's office was not immediately available for comment.
A WestJet spokeswoman said by email the carrier has rebooked the passengers denied boarding on the Thursday morning flight from Cancun to Calgary, but said the "situation further highlights the challenges travellers and our operations are facing" from the new requirements.
"This latest announcement by the federal government is specifically the type of chaotic situation WestJet has been seeking to avoid," spokeswoman Morgan Bell said.
As of Wednesday, Canada had reported an additional 8,153 coronavirus cases and 136 deaths.
The International Air Transport Association (IATA) recently called Canada's decision to mandate a negative COVID-19 test within 72 hours of flying to the country, while leaving in place existing travel restrictions and quarantine requirements, the "worst of both worlds."
(Reporting by Allison Lampert in Montreal and Tracy Rucinski Editing by Matthew Lewis)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Faced with a mounting second wave of infections, Canadian Transport Minister Marc Garneau said last week that air travelers aged 5 and up would need to test negative for the coronavirus before boarding the plane, starting on Jan. 7. A WestJet spokeswoman said by email the carrier has rebooked the passengers denied boarding on the Thursday morning flight from Cancun to Calgary, but said the "situation further highlights the challenges travellers and our operations are facing" from the new requirements. The International Air Transport Association (IATA) recently called Canada's decision to mandate a negative COVID-19 test within 72 hours of flying to the country, while leaving in place existing travel restrictions and quarantine requirements, the "worst of both worlds." | Jan 7 (Reuters) - WestJet Airlines said on Thursday it had denied 10 passengers from boarding a flight for lacking the proper test for the novel coronavirus, just after a Canadian government requirement that passengers show proof of a negative result before boarding took effect. The International Air Transport Association (IATA) recently called Canada's decision to mandate a negative COVID-19 test within 72 hours of flying to the country, while leaving in place existing travel restrictions and quarantine requirements, the "worst of both worlds." Faced with a mounting second wave of infections, Canadian Transport Minister Marc Garneau said last week that air travelers aged 5 and up would need to test negative for the coronavirus before boarding the plane, starting on Jan. 7. | Jan 7 (Reuters) - WestJet Airlines said on Thursday it had denied 10 passengers from boarding a flight for lacking the proper test for the novel coronavirus, just after a Canadian government requirement that passengers show proof of a negative result before boarding took effect. Faced with a mounting second wave of infections, Canadian Transport Minister Marc Garneau said last week that air travelers aged 5 and up would need to test negative for the coronavirus before boarding the plane, starting on Jan. 7. A WestJet spokeswoman said by email the carrier has rebooked the passengers denied boarding on the Thursday morning flight from Cancun to Calgary, but said the "situation further highlights the challenges travellers and our operations are facing" from the new requirements. | Jan 7 (Reuters) - WestJet Airlines said on Thursday it had denied 10 passengers from boarding a flight for lacking the proper test for the novel coronavirus, just after a Canadian government requirement that passengers show proof of a negative result before boarding took effect. A WestJet spokeswoman said by email the carrier has rebooked the passengers denied boarding on the Thursday morning flight from Cancun to Calgary, but said the "situation further highlights the challenges travellers and our operations are facing" from the new requirements. The International Air Transport Association (IATA) recently called Canada's decision to mandate a negative COVID-19 test within 72 hours of flying to the country, while leaving in place existing travel restrictions and quarantine requirements, the "worst of both worlds." |
35044.0 | 2020-12-31 00:00:00 UTC | Canada to require air travelers to test negative for COVID-19 | AC | https://www.nasdaq.com/articles/canada-to-require-air-travelers-to-test-negative-for-covid-19-2020-12-31 | nan | nan | Adds details
MONTREAL, Dec 31 (Reuters) - Canada will require air travelers aged 5 and up to test negative for COVID-19 before arrival, starting Jan. 7, Transport Minister Marc Garneau said on Thursday, as the country tightens travel restrictions amid soaring cases of the coronavirus.
Passengers will need to have a negative polymerase chain reaction (PCR) COVID-19 test taken within 72 hours prior to their scheduled departure to Canada, the country said on Wednesday, after social media images of maskless Canadian tourists abroad prompted calls for stricter measures to curb the virus.
Documentation showing a negative result must be shown to the airline before boarding a flight to Canada, Garneau said in a statement that offers additional details about the requirement, like the starting date.
Pre-departure testing will not eliminate a mandatory 14-day quarantine for arrivals, in a blow to Canada's battered airlines, which had been pushing for a negative result to be accepted as an alternative to such restrictions.
"The announcement only addresses one element of the path forward: the utilization of testing to help further protect public health," said Mike McNaney, president of National Airlines Council of Canada, which represents large carriers like Air Canada AC.TO.
"We strongly believe it must also be utilized in conjunction with measures to reduce quarantine levels," he said in a statement on Wednesday.
The new measures add to Canada’s existing restrictions, which normally deny non-essential foreigners entry and where citizens returning from abroad are required to quarantine.
Canada will also increase surveillance to ensure travelers entering Canada complete their quarantine, Garneau said.
Canada reported on Thursday a total of 572,982 cases of COVID-19, as new cases surged in its most populous provinces, Ontario and Quebec.
On Tuesday, Quebec urged the federal government to require COVID-19 testing for residents returning from year-end vacations, as hospitals wrestle with growing cases in the province.
(Reporting by Allison Lampert in Montreal; Editing by Leslie Adler and Jonathan Oatis)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Passengers will need to have a negative polymerase chain reaction (PCR) COVID-19 test taken within 72 hours prior to their scheduled departure to Canada, the country said on Wednesday, after social media images of maskless Canadian tourists abroad prompted calls for stricter measures to curb the virus. On Tuesday, Quebec urged the federal government to require COVID-19 testing for residents returning from year-end vacations, as hospitals wrestle with growing cases in the province. Pre-departure testing will not eliminate a mandatory 14-day quarantine for arrivals, in a blow to Canada's battered airlines, which had been pushing for a negative result to be accepted as an alternative to such restrictions. | Passengers will need to have a negative polymerase chain reaction (PCR) COVID-19 test taken within 72 hours prior to their scheduled departure to Canada, the country said on Wednesday, after social media images of maskless Canadian tourists abroad prompted calls for stricter measures to curb the virus. Pre-departure testing will not eliminate a mandatory 14-day quarantine for arrivals, in a blow to Canada's battered airlines, which had been pushing for a negative result to be accepted as an alternative to such restrictions. "The announcement only addresses one element of the path forward: the utilization of testing to help further protect public health," said Mike McNaney, president of National Airlines Council of Canada, which represents large carriers like Air Canada AC.TO. | Passengers will need to have a negative polymerase chain reaction (PCR) COVID-19 test taken within 72 hours prior to their scheduled departure to Canada, the country said on Wednesday, after social media images of maskless Canadian tourists abroad prompted calls for stricter measures to curb the virus. "The announcement only addresses one element of the path forward: the utilization of testing to help further protect public health," said Mike McNaney, president of National Airlines Council of Canada, which represents large carriers like Air Canada AC.TO. Pre-departure testing will not eliminate a mandatory 14-day quarantine for arrivals, in a blow to Canada's battered airlines, which had been pushing for a negative result to be accepted as an alternative to such restrictions. | Passengers will need to have a negative polymerase chain reaction (PCR) COVID-19 test taken within 72 hours prior to their scheduled departure to Canada, the country said on Wednesday, after social media images of maskless Canadian tourists abroad prompted calls for stricter measures to curb the virus. Pre-departure testing will not eliminate a mandatory 14-day quarantine for arrivals, in a blow to Canada's battered airlines, which had been pushing for a negative result to be accepted as an alternative to such restrictions. "The announcement only addresses one element of the path forward: the utilization of testing to help further protect public health," said Mike McNaney, president of National Airlines Council of Canada, which represents large carriers like Air Canada AC.TO. |
35045.0 | 2020-12-30 00:00:00 UTC | CANADA STOCKS - TSX rises 0.03% to 17,549.31 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.03-to-17549.31-2020-12-30 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.03 percent to 17,549.31
* Leading the index were Fortuna Silver Mines Inc , up 7.0%, Silvercrest Metals Inc SIL.TO, up 6.5%, and Seven Generations Energy Ltd VII.TO, higher by 6.1%.
* Lagging shares were Descartes Systems Group Inc DSG.TO, down 2.5%, BlackBerry Ltd BB.TO, down 2.4%, and Allied Properties Real Estate Investment Trust AP_u.TO, lower by 2.2%.
* On the TSX 140 issues rose and 78 fell as a 1.8-to-1 ratio favored advancers. There were 10 new highs and no new lows, with total volume of 105.1 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, Cenovus Energy Inc CVE.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN rose 1.65 points, or 1.8%, while the financials sector .SPTTFS slipped 0.68 points, or 0.2%.
* West Texas Intermediate crude futures CLc1 rose 0.56%, or $0.27, to $48.27 a barrel. Brent crude LCOc1 rose 0.59%, or $0.3, to $51.39 O/R
* The TSX is up 2.8% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were Descartes Systems Group Inc DSG.TO, down 2.5%, BlackBerry Ltd BB.TO, down 2.4%, and Allied Properties Real Estate Investment Trust AP_u.TO, lower by 2.2%. * The most heavily traded shares by volume were Air Canada AC.TO, Cenovus Energy Inc CVE.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.03 percent to 17,549.31 * Leading the index were Fortuna Silver Mines Inc , up 7.0%, Silvercrest Metals Inc SIL.TO, up 6.5%, and Seven Generations Energy Ltd VII.TO, higher by 6.1%. | * Lagging shares were Descartes Systems Group Inc DSG.TO, down 2.5%, BlackBerry Ltd BB.TO, down 2.4%, and Allied Properties Real Estate Investment Trust AP_u.TO, lower by 2.2%. * The most heavily traded shares by volume were Air Canada AC.TO, Cenovus Energy Inc CVE.TO and Suncor Energy Inc SU.TO. * On the TSX 140 issues rose and 78 fell as a 1.8-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Air Canada AC.TO, Cenovus Energy Inc CVE.TO and Suncor Energy Inc SU.TO. * Lagging shares were Descartes Systems Group Inc DSG.TO, down 2.5%, BlackBerry Ltd BB.TO, down 2.4%, and Allied Properties Real Estate Investment Trust AP_u.TO, lower by 2.2%. * The Toronto Stock Exchange's TSX rises 0.03 percent to 17,549.31 * Leading the index were Fortuna Silver Mines Inc , up 7.0%, Silvercrest Metals Inc SIL.TO, up 6.5%, and Seven Generations Energy Ltd VII.TO, higher by 6.1%. | * Lagging shares were Descartes Systems Group Inc DSG.TO, down 2.5%, BlackBerry Ltd BB.TO, down 2.4%, and Allied Properties Real Estate Investment Trust AP_u.TO, lower by 2.2%. * The most heavily traded shares by volume were Air Canada AC.TO, Cenovus Energy Inc CVE.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.03 percent to 17,549.31 * Leading the index were Fortuna Silver Mines Inc , up 7.0%, Silvercrest Metals Inc SIL.TO, up 6.5%, and Seven Generations Energy Ltd VII.TO, higher by 6.1%. |
35046.0 | 2020-12-29 00:00:00 UTC | EMERGING MARKETS-Glove makers drag Malaysia shares, Philippines buoyed by budget | AC | https://www.nasdaq.com/articles/emerging-markets-glove-makers-drag-malaysia-shares-philippines-buoyed-by-budget-2020-12-29 | nan | nan | By Pranav A K
Dec 29 (Reuters) - Malaysian shares declined on Tuesday as glove makers shed some of this year's rally, while the Philippines' record budget powered that country's benchmark to its gain in about two weeks.
The Kuala Lumpur index .KLSE fell as much as 0.6%, with heavyweights Top Glove Corp TPGC.KL and Hartalega Holdings HTHB.KL down for a third session to lead losses on the benchmark.
The glove makers, which enjoyed a surge in demand during the coronavirus crisis, have lost some support as vaccines were approved and have come under further pressure over their treatment of migrant workers.
"It has coincided with the start of the European vaccination roll-out ... investors are looking ahead to the future with COVID-19, and reassessing the outlook for glove makers," said Jeffrey Halley, senior market analyst at OANDA.
Philippine shares .PSI rose 0.6% in their last trading day of the year, getting a boost from President Rodrigo Duterte approving a record budget in a bid to support the pandemic-ravaged economy. That was the biggest intraday gain since Dec. 16.
The 4.5 trillion peso ($93.73 billion) budget came as what was formerly one of Asia's fastest expanding economies struggles to get back to growth and contain infections.
On Monday, partial curbs in Manila were extended until the end of January as the country with the second-highest number of COVID-19 cases and casualties in Southeast Asia looks to guard itself against the spread of a new coronavirus variant.
Stock markets in Indonesia .JKSE and Thailand .SETI also slipped in thin trading, while Seoul's KOSPI .KS11 was on course to snap a three-day winning streak as heavyweights including Samsung Electronics 005930.KS traded ex-dividend.
Currencies across Asia's emerging markets were flat to stronger as the dollar .DXY languished amid optimism around a COVID-19 relief package in the United States. FRX/
The Taiwanese dollar TWD=TP led the pack, holding near its highest level since 1997 while the Thai baht THB=TH added nearly 0.5%.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields ID10YT=RR are down 17.1 basis points at 5.926%
** Top losers on FTSE Bursa Malaysia Kl Index .KLSE: Hartalega Holdings Bhd HTHB.KL down 3.7% and Top Glove Corporation Bhd TPGC.KL down 2.7%
** In the Philippines, top index gainers are Megaworld Corp MEG.PS up 3.03%, BDO Unibank Inc BDO.PS up 2.11% AND Ayala Corp AC.PS up 1.97%
Asia stock indexes and currencies at 0501 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
+0.12
+4.78
.N225
2.09
15.89
China
CNY=CFXS
+0.10
+6.60
.SSEC
-0.33
11.02
India
INR=IN
+0.17
-2.73
.NSEI
0.58
14.67
Indonesia
IDR=
+0.00
-1.84
.JKSE
-0.29
-3.55
Malaysia
MYR=
-0.04
+0.99
.KLSE
-0.37
3.08
Philippines
PHP=
+0.04
+5.50
.PSI
0.62
-8.30
S.Korea
KRW=KFTC
+0.42
+5.89
.KS11
-0.23
27.50
Singapore
SGD=
+0.08
+1.17
.STI
0.23
-11.67
Taiwan
TWD=TP
+1.51
+7.13
.TWII
-0.21
20.47
Thailand
THB=TH
+0.40
-0.43
.SETI
-0.55
-8.56
($1 = 48.0100 Philippine pesos)
(Reporting by A K Pranav in Bengaluru; Editing by Sam Holmes)
((Pranav.AK@thomsonreuters.com; +918061823270; Twitter: https://twitter.com/AKPranav1))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | "It has coincided with the start of the European vaccination roll-out ... investors are looking ahead to the future with COVID-19, and reassessing the outlook for glove makers," said Jeffrey Halley, senior market analyst at OANDA. The glove makers, which enjoyed a surge in demand during the coronavirus crisis, have lost some support as vaccines were approved and have come under further pressure over their treatment of migrant workers. The 4.5 trillion peso ($93.73 billion) budget came as what was formerly one of Asia's fastest expanding economies struggles to get back to growth and contain infections. | ** Indonesian 10-year benchmark yields ID10YT=RR are down 17.1 basis points at 5.926% ** Top losers on FTSE Bursa Malaysia Kl Index .KLSE: Hartalega Holdings Bhd HTHB.KL down 3.7% and Top Glove Corporation Bhd TPGC.KL down 2.7% ** In the Philippines, top index gainers are Megaworld Corp MEG.PS up 3.03%, BDO Unibank Inc BDO.PS up 2.11% AND Ayala Corp AC.PS up 1.97% Asia stock indexes and currencies at 0501 GMT The glove makers, which enjoyed a surge in demand during the coronavirus crisis, have lost some support as vaccines were approved and have come under further pressure over their treatment of migrant workers. "It has coincided with the start of the European vaccination roll-out ... investors are looking ahead to the future with COVID-19, and reassessing the outlook for glove makers," said Jeffrey Halley, senior market analyst at OANDA. | ** Indonesian 10-year benchmark yields ID10YT=RR are down 17.1 basis points at 5.926% ** Top losers on FTSE Bursa Malaysia Kl Index .KLSE: Hartalega Holdings Bhd HTHB.KL down 3.7% and Top Glove Corporation Bhd TPGC.KL down 2.7% ** In the Philippines, top index gainers are Megaworld Corp MEG.PS up 3.03%, BDO Unibank Inc BDO.PS up 2.11% AND Ayala Corp AC.PS up 1.97% Asia stock indexes and currencies at 0501 GMT The glove makers, which enjoyed a surge in demand during the coronavirus crisis, have lost some support as vaccines were approved and have come under further pressure over their treatment of migrant workers. "It has coincided with the start of the European vaccination roll-out ... investors are looking ahead to the future with COVID-19, and reassessing the outlook for glove makers," said Jeffrey Halley, senior market analyst at OANDA. | The glove makers, which enjoyed a surge in demand during the coronavirus crisis, have lost some support as vaccines were approved and have come under further pressure over their treatment of migrant workers. "It has coincided with the start of the European vaccination roll-out ... investors are looking ahead to the future with COVID-19, and reassessing the outlook for glove makers," said Jeffrey Halley, senior market analyst at OANDA. The 4.5 trillion peso ($93.73 billion) budget came as what was formerly one of Asia's fastest expanding economies struggles to get back to growth and contain infections. |
35047.0 | 2020-12-25 00:00:00 UTC | Air Canada Boeing 737-8 MAX suffers engine issue | AC | https://www.nasdaq.com/articles/air-canada-boeing-737-8-max-suffers-engine-issue-2020-12-25 | nan | nan | Adds details from Air Canada's statement and background
Dec 25 (Reuters) - An Air Canada AC.TO Boeing Co BA.N 737-8 Max en route between Arizona and Montreal with three crew members on board suffered an engine issue that forced the crew to divert the aircraft to Tucson, Arizona, the Canadian airline company said in an emailed statement on Friday.
Shortly after the take-off, the pilots received an "engine indication" and "decided to shut down one engine," an Air Canada spokesman said.
"The aircraft then diverted to Tucson, where it landed normally and remains." The incident took place on Dec. 22.
The crew received a left engine hydraulic low pressure indication and declared a PAN PAN emergency before diverting the flight, Belgian aviation news website Aviation24.be reported.
"Modern aircraft are designed to operate with one engine and our crews train for such operations", the Air Canada statement added.
In a response to a Reuters request for comment, a Boeing spokeswoman referred to Air Canada for information on the incident and did not provide any additional comment.
Boeing and operators are bracing for heightened scrutiny as the MAX returns from a 20 month safety grounding, but safety experts say such glitches are common and usually go unnoticed.
The 'MAX was grounded following two crashes linked in part to flawed cockpit software. The engines were not implicated.
The United States lifted a 20-month-old flight ban on the 737 MAX last month, with the U.S. Federal Aviation Administration outlining details of the software, system and training upgrades Boeing and airlines must complete before carrying passengers.
(Reporting by Aishwarya Nair in Bengaluru; Additonal reporting by Radhika Anilkumar and Nandakumar D; Editing by Sandra Maler and Diane Craft)
((Aishwarya.Nair@thomsonreuters.com; +91-8067494421;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details from Air Canada's statement and background Dec 25 (Reuters) - An Air Canada AC.TO Boeing Co BA.N 737-8 Max en route between Arizona and Montreal with three crew members on board suffered an engine issue that forced the crew to divert the aircraft to Tucson, Arizona, the Canadian airline company said in an emailed statement on Friday. The incident took place on Dec. 22. Boeing and operators are bracing for heightened scrutiny as the MAX returns from a 20 month safety grounding, but safety experts say such glitches are common and usually go unnoticed. | Adds details from Air Canada's statement and background Dec 25 (Reuters) - An Air Canada AC.TO Boeing Co BA.N 737-8 Max en route between Arizona and Montreal with three crew members on board suffered an engine issue that forced the crew to divert the aircraft to Tucson, Arizona, the Canadian airline company said in an emailed statement on Friday. The incident took place on Dec. 22. Boeing and operators are bracing for heightened scrutiny as the MAX returns from a 20 month safety grounding, but safety experts say such glitches are common and usually go unnoticed. | Adds details from Air Canada's statement and background Dec 25 (Reuters) - An Air Canada AC.TO Boeing Co BA.N 737-8 Max en route between Arizona and Montreal with three crew members on board suffered an engine issue that forced the crew to divert the aircraft to Tucson, Arizona, the Canadian airline company said in an emailed statement on Friday. The incident took place on Dec. 22. Boeing and operators are bracing for heightened scrutiny as the MAX returns from a 20 month safety grounding, but safety experts say such glitches are common and usually go unnoticed. | Adds details from Air Canada's statement and background Dec 25 (Reuters) - An Air Canada AC.TO Boeing Co BA.N 737-8 Max en route between Arizona and Montreal with three crew members on board suffered an engine issue that forced the crew to divert the aircraft to Tucson, Arizona, the Canadian airline company said in an emailed statement on Friday. The incident took place on Dec. 22. Boeing and operators are bracing for heightened scrutiny as the MAX returns from a 20 month safety grounding, but safety experts say such glitches are common and usually go unnoticed. |
35048.0 | 2020-12-23 00:00:00 UTC | CANADA STOCKS - TSX rises 0.28% to 17,601.38 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.28-to-17601.38-2020-12-23 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.28 percent to 17,601.38
* Leading the index were MEG Energy Corp , up 9.7%, Magna International Inc MG.TO, up 8.7%, and Crescent Point Energy Corp CPG.TO, higher by 8.6%.
* Lagging shares were Shopify Inc SHOP.TO, down 5.8%, Enghouse Systems Ltd ENGH.TO, down 4.5%, and Constellation Software Inc CSU.TO, lower by 4.4%.
* On the TSX 150 issues rose and 66 fell as a 2.3-to-1 ratio favored advancers. There were 15 new highs and no new lows, with total volume of 128.4 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Cenovus Energy Inc CVE.TO.
* The TSX's energy group .SPTTEN rose 3.93 points, or 4.5%, while the financials sector .SPTTFS climbed 2.72 points, or 0.9%.
* West Texas Intermediate crude futures CLc1 rose 2.13%, or $1, to $48.02 a barrel. Brent crude LCOc1 rose 2.04%, or $1.02, to $51.1 O/R
* The TSX is up 3.2% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX rises 0.28 percent to 17,601.38 * Leading the index were MEG Energy Corp , up 9.7%, Magna International Inc MG.TO, up 8.7%, and Crescent Point Energy Corp CPG.TO, higher by 8.6%. * Lagging shares were Shopify Inc SHOP.TO, down 5.8%, Enghouse Systems Ltd ENGH.TO, down 4.5%, and Constellation Software Inc CSU.TO, lower by 4.4%. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX rises 0.28 percent to 17,601.38 * Leading the index were MEG Energy Corp , up 9.7%, Magna International Inc MG.TO, up 8.7%, and Crescent Point Energy Corp CPG.TO, higher by 8.6%. * The TSX's energy group .SPTTEN rose 3.93 points, or 4.5%, while the financials sector .SPTTFS climbed 2.72 points, or 0.9%. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX rises 0.28 percent to 17,601.38 * Leading the index were MEG Energy Corp , up 9.7%, Magna International Inc MG.TO, up 8.7%, and Crescent Point Energy Corp CPG.TO, higher by 8.6%. * The TSX's energy group .SPTTEN rose 3.93 points, or 4.5%, while the financials sector .SPTTFS climbed 2.72 points, or 0.9%. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX rises 0.28 percent to 17,601.38 * Leading the index were MEG Energy Corp , up 9.7%, Magna International Inc MG.TO, up 8.7%, and Crescent Point Energy Corp CPG.TO, higher by 8.6%. * Lagging shares were Shopify Inc SHOP.TO, down 5.8%, Enghouse Systems Ltd ENGH.TO, down 4.5%, and Constellation Software Inc CSU.TO, lower by 4.4%. |
35049.0 | 2020-12-22 00:00:00 UTC | CANADA STOCKS - TSX rises 0.31% to 17,555.47 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.31-to-17555.47-2020-12-22 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.31 percent to 17,555.47
* Leading the index were Lightspeed POS Inc , up 12.0%, Ballard Power Systems Inc BLDP.TO, up 9.2%, and Boralex Inc BLX.TO, higher by 8.4%.
* Lagging shares were First Majestic Silver Corp FR.TO, down 6.2%, New Gold Inc NGD.TO, down 6.1%, and MAG Silver Corp MAG.TO, lower by 5.6%.
* On the TSX 86 issues rose and 134 fell as a 0.6-to-1 ratio favored decliners. There were 10 new highs and no new lows, with total volume of 120.5 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, Tc Energy Corp TRP.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN fell 1.59 points, or 1.8%, while the financials sector .SPTTFS slipped 0.20 points, or 0.1%.
* West Texas Intermediate crude futures CLc1 fell 2.17%, or $1.04, to $46.93 a barrel. Brent crude LCOc1 fell 1.79%, or $0.91, to $50 O/R
* The TSX is up 2.9% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Air Canada AC.TO, Tc Energy Corp TRP.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.31 percent to 17,555.47 * Leading the index were Lightspeed POS Inc , up 12.0%, Ballard Power Systems Inc BLDP.TO, up 9.2%, and Boralex Inc BLX.TO, higher by 8.4%. * On the TSX 86 issues rose and 134 fell as a 0.6-to-1 ratio favored decliners. | * The most heavily traded shares by volume were Air Canada AC.TO, Tc Energy Corp TRP.TO and Suncor Energy Inc SU.TO. * Lagging shares were First Majestic Silver Corp FR.TO, down 6.2%, New Gold Inc NGD.TO, down 6.1%, and MAG Silver Corp MAG.TO, lower by 5.6%. * The TSX's energy group .SPTTEN fell 1.59 points, or 1.8%, while the financials sector .SPTTFS slipped 0.20 points, or 0.1%. | * The most heavily traded shares by volume were Air Canada AC.TO, Tc Energy Corp TRP.TO and Suncor Energy Inc SU.TO. * Lagging shares were First Majestic Silver Corp FR.TO, down 6.2%, New Gold Inc NGD.TO, down 6.1%, and MAG Silver Corp MAG.TO, lower by 5.6%. * The TSX's energy group .SPTTEN fell 1.59 points, or 1.8%, while the financials sector .SPTTFS slipped 0.20 points, or 0.1%. | * The most heavily traded shares by volume were Air Canada AC.TO, Tc Energy Corp TRP.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.31 percent to 17,555.47 * Leading the index were Lightspeed POS Inc , up 12.0%, Ballard Power Systems Inc BLDP.TO, up 9.2%, and Boralex Inc BLX.TO, higher by 8.4%. * On the TSX 86 issues rose and 134 fell as a 0.6-to-1 ratio favored decliners. |
35050.0 | 2020-12-21 00:00:00 UTC | CANADA STOCKS - TSX falls 0.3% to 17,481.29 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-0.3-to-17481.29-2020-12-21 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.30 percent to 17,481.29
* Leading the index were Great Canadian Gaming Corp , up 17.1%, Silvercrest Metals Inc SIL.TO, up 6.4%, and Kinaxis Inc KXS.TO, higher by 6.3%.
* Lagging shares were Vermilion Energy Inc VET.TO, down 7.5%, Enerplus Corp ERF.TO, down 7.2%, and MEG Energy Corp MEG.TO, lower by 6.7%.
* On the TSX 77 issues rose and 143 fell as a 0.5-to-1 ratio favored decliners. There were 5 new highs and no new lows, with total volume of 162.5 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Crescent Point Energy Corp CPG.TO.
* The TSX's energy group .SPTTEN fell 2.58 points, or 2.8%, while the financials sector .SPTTFS slipped 0.98 points, or 0.3%.
* West Texas Intermediate crude futures CLc1 fell 2.67%, or $1.31, to $47.79 a barrel. Brent crude LCOc1 fell 2.89%, or $1.51, to $50.75 O/R
* The TSX is up 2.4% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Crescent Point Energy Corp CPG.TO. * The Toronto Stock Exchange's TSX falls 0.30 percent to 17,481.29 * Leading the index were Great Canadian Gaming Corp , up 17.1%, Silvercrest Metals Inc SIL.TO, up 6.4%, and Kinaxis Inc KXS.TO, higher by 6.3%. * On the TSX 77 issues rose and 143 fell as a 0.5-to-1 ratio favored decliners. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Crescent Point Energy Corp CPG.TO. * Lagging shares were Vermilion Energy Inc VET.TO, down 7.5%, Enerplus Corp ERF.TO, down 7.2%, and MEG Energy Corp MEG.TO, lower by 6.7%. * The TSX's energy group .SPTTEN fell 2.58 points, or 2.8%, while the financials sector .SPTTFS slipped 0.98 points, or 0.3%. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Crescent Point Energy Corp CPG.TO. * Lagging shares were Vermilion Energy Inc VET.TO, down 7.5%, Enerplus Corp ERF.TO, down 7.2%, and MEG Energy Corp MEG.TO, lower by 6.7%. * The TSX's energy group .SPTTEN fell 2.58 points, or 2.8%, while the financials sector .SPTTFS slipped 0.98 points, or 0.3%. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Crescent Point Energy Corp CPG.TO. * The Toronto Stock Exchange's TSX falls 0.30 percent to 17,481.29 * Leading the index were Great Canadian Gaming Corp , up 17.1%, Silvercrest Metals Inc SIL.TO, up 6.4%, and Kinaxis Inc KXS.TO, higher by 6.3%. * On the TSX 77 issues rose and 143 fell as a 0.5-to-1 ratio favored decliners. |
35051.0 | 2020-12-21 00:00:00 UTC | CANADA STOCKS-TSX falls as energy stocks plunge on coronavirus concerns | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-as-energy-stocks-plunge-on-coronavirus-concerns-2020-12-21 | nan | nan | Adds details; updates prices
Dec 21 (Reuters) - Energy stocks dragged Canada's main stock index on Monday after oil prices tumbled on concerns that tighter coronavirus-led restrictions in Europe would lead to a slower fuel-demand recovery.
* The energy sector .SPTTEN plunged 3.7%, as both U.S. crude CLc1 and Brent crude LCOc1 fell about 4.2%. O/R
* At 9:40 a.m. ET (1440 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 159.54 points, or 0.91%, at 17,375.0, hitting its lowest level in nearly three weeks.
* Oil producer Vermilion Energy Inc VET.TO fell 6.8%, the most on the TSX, and the second biggest decliner was airlines Air Canada AC.TO, down 6.8%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.2% as gold futures GCc1 slipped. GOL/
* On the TSX, 45 issues were higher, while 174 issues declined for a 3.87-to-1 ratio to the downside, with 21.40 million shares traded.
* The largest percentage gainer on the TSX was Great Canadian Gaming Corp GC.TO, which jumped 17%, after the casino operator agreed to be acquired by a fund managed by an affiliate of Apollo Global Management for an increased purchase price.
* Its gains were followed by gold miner New Gold Inc NGD.TO, which rose 2.8%.
* The most heavily traded shares by volume were Baytex Energy Co BTE.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO.
* The TSX posted no new 52-week high and no new low.
* Across all Canadian issues there were 18 new 52-week highs and three new lows, with total volume of 54.19 million shares.
(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Oil producer Vermilion Energy Inc VET.TO fell 6.8%, the most on the TSX, and the second biggest decliner was airlines Air Canada AC.TO, down 6.8%. * The largest percentage gainer on the TSX was Great Canadian Gaming Corp GC.TO, which jumped 17%, after the casino operator agreed to be acquired by a fund managed by an affiliate of Apollo Global Management for an increased purchase price. * The most heavily traded shares by volume were Baytex Energy Co BTE.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. | * The most heavily traded shares by volume were Baytex Energy Co BTE.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * Across all Canadian issues there were 18 new 52-week highs and three new lows, with total volume of 54.19 million shares. * Oil producer Vermilion Energy Inc VET.TO fell 6.8%, the most on the TSX, and the second biggest decliner was airlines Air Canada AC.TO, down 6.8%. | * Oil producer Vermilion Energy Inc VET.TO fell 6.8%, the most on the TSX, and the second biggest decliner was airlines Air Canada AC.TO, down 6.8%. * The most heavily traded shares by volume were Baytex Energy Co BTE.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * The largest percentage gainer on the TSX was Great Canadian Gaming Corp GC.TO, which jumped 17%, after the casino operator agreed to be acquired by a fund managed by an affiliate of Apollo Global Management for an increased purchase price. | * Oil producer Vermilion Energy Inc VET.TO fell 6.8%, the most on the TSX, and the second biggest decliner was airlines Air Canada AC.TO, down 6.8%. * Across all Canadian issues there were 18 new 52-week highs and three new lows, with total volume of 54.19 million shares. * The largest percentage gainer on the TSX was Great Canadian Gaming Corp GC.TO, which jumped 17%, after the casino operator agreed to be acquired by a fund managed by an affiliate of Apollo Global Management for an increased purchase price. |
35052.0 | 2020-12-17 00:00:00 UTC | CANADA STOCKS-TSX up for third session on gold miners boost, stimulus hopes | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-up-for-third-session-on-gold-miners-boost-stimulus-hopes-2020-12-17 | nan | nan | Dec 17 (Reuters) - Canada's main stock index extended gains for a third straight session on Thursday, as gold miner stocks gained, while hopes for fresh stimulus in United States further lifted sentiment.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 2.7% as gold futures GCc1 rose 1.2% to $1,878 an ounce. GOL/
* The sector's gains were led by the largest percentage gainers on the TSX, Seabridge Gold Inc SEA.TO and MAG Silver Corp MAG.TO, which jumped 5.2% and 4.5% respectively.
* At 9:37 a.m. ET (14:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 98.08 points, or 0.56%, at 17,665.5.
* The optimism in the Canadian market followed the upbeat rally across global markets after U.S. congressional leaders sounded more positive about a $900 billion stimulus package.
* Adding to the upbeat mood, the energy sector .SPTTEN climbed 0.1% as U.S. crude CLc1 prices rose 1.0% a barrel, while Brent crude LCOc1 added 0.7%. O/R
* On the TSX, 149 issues advanced, while 66 issues declined in a 2.26-to-1 ratio favoring gainers, with 16.15 million shares traded.
* Aurinia Pharmaceuticals Inc fell 9.7%, the most on the TSX, after the biotech firm announced a licensing agreement with Otsuka Pharmaceutical Co Ltd.
* The second biggest decliner was pot producer Aphria Inc , down 5.8%, after brokerage Stifel downgraded it to "hold" from "buy".
* The most heavily traded shares by volume were BCE Inc , Canadian Imperial Bank of Commerce , and Air Canada .
* The TSX posted six new 52-week highs and no new low.
* Across Canadian issues, there were 74 new 52-week highs and four new lows, with total volume of 32.55 million shares.
(Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The optimism in the Canadian market followed the upbeat rally across global markets after U.S. congressional leaders sounded more positive about a $900 billion stimulus package. * Aurinia Pharmaceuticals Inc fell 9.7%, the most on the TSX, after the biotech firm announced a licensing agreement with Otsuka Pharmaceutical Co Ltd. * The second biggest decliner was pot producer Aphria Inc , down 5.8%, after brokerage Stifel downgraded it to "hold" from "buy". * Across Canadian issues, there were 74 new 52-week highs and four new lows, with total volume of 32.55 million shares. | * Across Canadian issues, there were 74 new 52-week highs and four new lows, with total volume of 32.55 million shares. * The optimism in the Canadian market followed the upbeat rally across global markets after U.S. congressional leaders sounded more positive about a $900 billion stimulus package. * Aurinia Pharmaceuticals Inc fell 9.7%, the most on the TSX, after the biotech firm announced a licensing agreement with Otsuka Pharmaceutical Co Ltd. * The second biggest decliner was pot producer Aphria Inc , down 5.8%, after brokerage Stifel downgraded it to "hold" from "buy". | * Aurinia Pharmaceuticals Inc fell 9.7%, the most on the TSX, after the biotech firm announced a licensing agreement with Otsuka Pharmaceutical Co Ltd. * The second biggest decliner was pot producer Aphria Inc , down 5.8%, after brokerage Stifel downgraded it to "hold" from "buy". * The optimism in the Canadian market followed the upbeat rally across global markets after U.S. congressional leaders sounded more positive about a $900 billion stimulus package. * Across Canadian issues, there were 74 new 52-week highs and four new lows, with total volume of 32.55 million shares. | * Across Canadian issues, there were 74 new 52-week highs and four new lows, with total volume of 32.55 million shares. * The optimism in the Canadian market followed the upbeat rally across global markets after U.S. congressional leaders sounded more positive about a $900 billion stimulus package. * Aurinia Pharmaceuticals Inc fell 9.7%, the most on the TSX, after the biotech firm announced a licensing agreement with Otsuka Pharmaceutical Co Ltd. * The second biggest decliner was pot producer Aphria Inc , down 5.8%, after brokerage Stifel downgraded it to "hold" from "buy". |
35053.0 | 2020-12-17 00:00:00 UTC | CANADA STOCKS - TSX rises 0.46% to 17,648.36 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.46-to-17648.36-2020-12-17 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.46 percent to 17,648.36
* Leading the index were OceanaGold Corp , up 9.4%, Seabridge Gold Inc SEA.TO, up 9.2%, and MAG Silver Corp MAG.TO, higher by 8.2%.
* Lagging shares were Aurinia Pharmaceuticals Inc AUP.TO, down 14.4%, Westshore Terminals Investment Corp WTE.TO, down 6.8%, and Aphria Inc APHA.TO, lower by 5.7%.
* On the TSX 127 issues rose and 93 fell as a 1.4-to-1 ratio favored advancers. There were 15 new highs and no new lows, with total volume of 163.3 million shares.
* The most heavily traded shares by volume were Aphria Inc APHA.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN rose 0.24 points, or 0.3%, while the financials sector .SPTTFS slipped 0.34 points, or 0.1%.
* West Texas Intermediate crude futures CLc1 rose 1.28%, or $0.61, to $48.43 a barrel. Brent crude LCOc1 rose 0.94%, or $0.48, to $51.56 O/R
* The TSX is up 3.4% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were Aurinia Pharmaceuticals Inc AUP.TO, down 14.4%, Westshore Terminals Investment Corp WTE.TO, down 6.8%, and Aphria Inc APHA.TO, lower by 5.7%. * The most heavily traded shares by volume were Aphria Inc APHA.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * On the TSX 127 issues rose and 93 fell as a 1.4-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Aphria Inc APHA.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * Lagging shares were Aurinia Pharmaceuticals Inc AUP.TO, down 14.4%, Westshore Terminals Investment Corp WTE.TO, down 6.8%, and Aphria Inc APHA.TO, lower by 5.7%. * The TSX's energy group .SPTTEN rose 0.24 points, or 0.3%, while the financials sector .SPTTFS slipped 0.34 points, or 0.1%. | * The most heavily traded shares by volume were Aphria Inc APHA.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * Lagging shares were Aurinia Pharmaceuticals Inc AUP.TO, down 14.4%, Westshore Terminals Investment Corp WTE.TO, down 6.8%, and Aphria Inc APHA.TO, lower by 5.7%. * The Toronto Stock Exchange's TSX rises 0.46 percent to 17,648.36 * Leading the index were OceanaGold Corp , up 9.4%, Seabridge Gold Inc SEA.TO, up 9.2%, and MAG Silver Corp MAG.TO, higher by 8.2%. | * The most heavily traded shares by volume were Aphria Inc APHA.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * Lagging shares were Aurinia Pharmaceuticals Inc AUP.TO, down 14.4%, Westshore Terminals Investment Corp WTE.TO, down 6.8%, and Aphria Inc APHA.TO, lower by 5.7%. * The Toronto Stock Exchange's TSX rises 0.46 percent to 17,648.36 * Leading the index were OceanaGold Corp , up 9.4%, Seabridge Gold Inc SEA.TO, up 9.2%, and MAG Silver Corp MAG.TO, higher by 8.2%. |
35054.0 | 2020-12-17 00:00:00 UTC | Canada is close to making a decision on Air Canada bid for Air Transat - minister | AC | https://www.nasdaq.com/articles/canada-is-close-to-making-a-decision-on-air-canada-bid-for-air-transat-minister-2020-12-17 | nan | nan | Dec 17 (Reuters) - Canada is "getting very near" to the point where it will decide whether to approve Air Canada's AC.TO bid to buy Transat A.T. Inc TRZ.TO, Transport Minister Marc Garneau told reporters in Montreal on Thursday, but said he could not give a date.
Transat shareholders on Tuesday approved a discounted buyout offer from Air Canada. In October, Air Canada slashed its offer by almost 75%.
(Reporting by David Ljunggren)
((david.ljunggren@tr.com; +1 647 480 7891;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Dec 17 (Reuters) - Canada is "getting very near" to the point where it will decide whether to approve Air Canada's AC.TO bid to buy Transat A.T. Inc TRZ.TO, Transport Minister Marc Garneau told reporters in Montreal on Thursday, but said he could not give a date. Transat shareholders on Tuesday approved a discounted buyout offer from Air Canada. (Reporting by David Ljunggren) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Dec 17 (Reuters) - Canada is "getting very near" to the point where it will decide whether to approve Air Canada's AC.TO bid to buy Transat A.T. Inc TRZ.TO, Transport Minister Marc Garneau told reporters in Montreal on Thursday, but said he could not give a date. Transat shareholders on Tuesday approved a discounted buyout offer from Air Canada. In October, Air Canada slashed its offer by almost 75%. | Dec 17 (Reuters) - Canada is "getting very near" to the point where it will decide whether to approve Air Canada's AC.TO bid to buy Transat A.T. Inc TRZ.TO, Transport Minister Marc Garneau told reporters in Montreal on Thursday, but said he could not give a date. Transat shareholders on Tuesday approved a discounted buyout offer from Air Canada. (Reporting by David Ljunggren) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Dec 17 (Reuters) - Canada is "getting very near" to the point where it will decide whether to approve Air Canada's AC.TO bid to buy Transat A.T. Inc TRZ.TO, Transport Minister Marc Garneau told reporters in Montreal on Thursday, but said he could not give a date. Transat shareholders on Tuesday approved a discounted buyout offer from Air Canada. In October, Air Canada slashed its offer by almost 75%. |
35055.0 | 2020-12-16 00:00:00 UTC | EXCLUSIVE-Canada regulator to approve Boeing 737 MAX design change as soon as Thursday -sources | AC | https://www.nasdaq.com/articles/exclusive-canada-regulator-to-approve-boeing-737-max-design-change-as-soon-as-thursday-0 | nan | nan | By Allison Lampert and David Shepardson
MONTREAL/WASHINGTON, Dec 16 (Reuters) - Transport Canada is set to announce approval of design changes to Boeing’s BA.N 737 MAX as early as Thursday, in a first step toward bringing the aircraft back to the country's skies after a near two-year flight ban, two sources familiar with the matter said.
The Canadian regulator, however, is not expected to issue an immediate airworthiness directive, which is needed to help clear the way for the lifting of the ban on commercial flights.
Canada was one of the last major nations before the U.S. to ground the MAX in March 2019, following two crashes that killed a total of 346 people.
A spokeswoman for Transport Canada declined comment on Wednesday night.
Transport Canada's move would follow earlier announcements by the European Union Aviation Safety Agency (EASA) along with Boeing’s main regulator, the U.S. Federal Aviation Administration (FAA), which lifted its own ban on Nov. 18.
Canada’s two largest carriers Air Canada AC.TO and privately-held WestJet Airlines both fly the aircraft.
Brazil’s Gol last week became the world’s first airline to fly the Boeing 737 MAX commercially since the planes were grounded.
(Reporting By Allison Lampert in Montreal and David Shepardson in Washington; Editing by Chris Reese and Aurora Ellis)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Allison Lampert and David Shepardson MONTREAL/WASHINGTON, Dec 16 (Reuters) - Transport Canada is set to announce approval of design changes to Boeing’s BA.N 737 MAX as early as Thursday, in a first step toward bringing the aircraft back to the country's skies after a near two-year flight ban, two sources familiar with the matter said. Canada’s two largest carriers Air Canada AC.TO and privately-held WestJet Airlines both fly the aircraft. The Canadian regulator, however, is not expected to issue an immediate airworthiness directive, which is needed to help clear the way for the lifting of the ban on commercial flights. | By Allison Lampert and David Shepardson MONTREAL/WASHINGTON, Dec 16 (Reuters) - Transport Canada is set to announce approval of design changes to Boeing’s BA.N 737 MAX as early as Thursday, in a first step toward bringing the aircraft back to the country's skies after a near two-year flight ban, two sources familiar with the matter said. Canada’s two largest carriers Air Canada AC.TO and privately-held WestJet Airlines both fly the aircraft. The Canadian regulator, however, is not expected to issue an immediate airworthiness directive, which is needed to help clear the way for the lifting of the ban on commercial flights. | By Allison Lampert and David Shepardson MONTREAL/WASHINGTON, Dec 16 (Reuters) - Transport Canada is set to announce approval of design changes to Boeing’s BA.N 737 MAX as early as Thursday, in a first step toward bringing the aircraft back to the country's skies after a near two-year flight ban, two sources familiar with the matter said. Canada’s two largest carriers Air Canada AC.TO and privately-held WestJet Airlines both fly the aircraft. Transport Canada's move would follow earlier announcements by the European Union Aviation Safety Agency (EASA) along with Boeing’s main regulator, the U.S. Federal Aviation Administration (FAA), which lifted its own ban on Nov. 18. | By Allison Lampert and David Shepardson MONTREAL/WASHINGTON, Dec 16 (Reuters) - Transport Canada is set to announce approval of design changes to Boeing’s BA.N 737 MAX as early as Thursday, in a first step toward bringing the aircraft back to the country's skies after a near two-year flight ban, two sources familiar with the matter said. Canada’s two largest carriers Air Canada AC.TO and privately-held WestJet Airlines both fly the aircraft. The Canadian regulator, however, is not expected to issue an immediate airworthiness directive, which is needed to help clear the way for the lifting of the ban on commercial flights. |
35056.0 | 2020-12-16 00:00:00 UTC | CANADA STOCKS - TSX rises 0.35% to 17,567.44 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.35-to-17567.44-2020-12-16 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.35 percent to 17,567.44
* Leading the index were Shopify Inc , up 7.9%, First Majestic Silver Corp FR.TO, up 7%, and Wesdome Gold Mines Ltd WDO.TO, higher by 6.1%.
* Lagging shares were Air Canada AC.TO, down 10.1%, CI Financial Corp CIX.TO, down 4.5%, and Northland Power Inc NPI.TO, lower by 4.2%.
* On the TSX 95 issues rose and 123 fell as a 0.8-to-1 ratio favored decliners. There were 6 new highs and no new lows, with total volume of 172.8 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, Aphria Inc APHA.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN fell 2.31 points, or 2.4%, while the financials sector .SPTTFS climbed 0.59 points, or 0.2%.
* West Texas Intermediate crude futures CLc1 rose 0.42%, or $0.2, to $47.82 a barrel. Brent crude LCOc1 rose 0.53%, or $0.27, to $51.03 O/R
* The TSX is up 3% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were Air Canada AC.TO, down 10.1%, CI Financial Corp CIX.TO, down 4.5%, and Northland Power Inc NPI.TO, lower by 4.2%. * The most heavily traded shares by volume were Air Canada AC.TO, Aphria Inc APHA.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.35 percent to 17,567.44 * Leading the index were Shopify Inc , up 7.9%, First Majestic Silver Corp FR.TO, up 7%, and Wesdome Gold Mines Ltd WDO.TO, higher by 6.1%. | * Lagging shares were Air Canada AC.TO, down 10.1%, CI Financial Corp CIX.TO, down 4.5%, and Northland Power Inc NPI.TO, lower by 4.2%. * The most heavily traded shares by volume were Air Canada AC.TO, Aphria Inc APHA.TO and Suncor Energy Inc SU.TO. * The TSX's energy group .SPTTEN fell 2.31 points, or 2.4%, while the financials sector .SPTTFS climbed 0.59 points, or 0.2%. | * The most heavily traded shares by volume were Air Canada AC.TO, Aphria Inc APHA.TO and Suncor Energy Inc SU.TO. * Lagging shares were Air Canada AC.TO, down 10.1%, CI Financial Corp CIX.TO, down 4.5%, and Northland Power Inc NPI.TO, lower by 4.2%. * The Toronto Stock Exchange's TSX rises 0.35 percent to 17,567.44 * Leading the index were Shopify Inc , up 7.9%, First Majestic Silver Corp FR.TO, up 7%, and Wesdome Gold Mines Ltd WDO.TO, higher by 6.1%. | * The most heavily traded shares by volume were Air Canada AC.TO, Aphria Inc APHA.TO and Suncor Energy Inc SU.TO. * Lagging shares were Air Canada AC.TO, down 10.1%, CI Financial Corp CIX.TO, down 4.5%, and Northland Power Inc NPI.TO, lower by 4.2%. * On the TSX 95 issues rose and 123 fell as a 0.8-to-1 ratio favored decliners. |
35057.0 | 2020-12-15 00:00:00 UTC | Transat shareholders approve discounted buyout offer from Air Canada | AC | https://www.nasdaq.com/articles/transat-shareholders-approve-discounted-buyout-offer-from-air-canada-2020-12-15 | nan | nan | Adds context, analyst comment
MONTREAL, Dec 15 (Reuters) - Transat A.T. Inc TRZ.TO shareholders on Tuesday approved a discounted buyout offer from Air Canada AC.TO, a spokesman for the Montreal-based tour operator said, sending Transat shares up more than 10% in morning trade.
In October,Air Canada slashed its offer to buy Transat by almost 75%, lowering the deal to about C$188.7 million ($148.17 million), down from C$720 million, as COVID-19 weighed on travel demand.
The country’s largest carrier had secured Transat shareholders’ approval for the original deal last year to bolster its then-thriving leisure business.
But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal, which is still pending approval from European and Canadian regulators.
The largest shareholder in both companies in October called Air Canada's revised offer "a very reasonable one," noting that the purchase price could be paid to Transat shareholders in cash or shares of Air Canada.
Earlier on Tuesday, Transat said it had received an unsolicited proposal for the company from a private investor in late November, but the company's board did not deem it superior to the Air Canada offer.
While Transat shareholders were expected to vote in favor of the deal with Air Canada, "the key milestone" remains the European regulatory decision deadline of Feb. 9, Desjardins analyst Benoit Poirier said in a note to clients.
Transat shares rose 10.59% to C$5.85 a share in morning trade, while Air Canada stock was down 1.23% to C$25.78 a share.
($1 = 1.2735 Canadian dollars)
(Reporting By Allison Lampert; editing by Jonathan Oatis and Dan Grebler)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal, which is still pending approval from European and Canadian regulators. Adds context, analyst comment MONTREAL, Dec 15 (Reuters) - Transat A.T. Inc TRZ.TO shareholders on Tuesday approved a discounted buyout offer from Air Canada AC.TO, a spokesman for the Montreal-based tour operator said, sending Transat shares up more than 10% in morning trade. The country’s largest carrier had secured Transat shareholders’ approval for the original deal last year to bolster its then-thriving leisure business. | Adds context, analyst comment MONTREAL, Dec 15 (Reuters) - Transat A.T. Inc TRZ.TO shareholders on Tuesday approved a discounted buyout offer from Air Canada AC.TO, a spokesman for the Montreal-based tour operator said, sending Transat shares up more than 10% in morning trade. But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal, which is still pending approval from European and Canadian regulators. The largest shareholder in both companies in October called Air Canada's revised offer "a very reasonable one," noting that the purchase price could be paid to Transat shareholders in cash or shares of Air Canada. | Adds context, analyst comment MONTREAL, Dec 15 (Reuters) - Transat A.T. Inc TRZ.TO shareholders on Tuesday approved a discounted buyout offer from Air Canada AC.TO, a spokesman for the Montreal-based tour operator said, sending Transat shares up more than 10% in morning trade. But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal, which is still pending approval from European and Canadian regulators. The largest shareholder in both companies in October called Air Canada's revised offer "a very reasonable one," noting that the purchase price could be paid to Transat shareholders in cash or shares of Air Canada. | Adds context, analyst comment MONTREAL, Dec 15 (Reuters) - Transat A.T. Inc TRZ.TO shareholders on Tuesday approved a discounted buyout offer from Air Canada AC.TO, a spokesman for the Montreal-based tour operator said, sending Transat shares up more than 10% in morning trade. But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal, which is still pending approval from European and Canadian regulators. In October,Air Canada slashed its offer to buy Transat by almost 75%, lowering the deal to about C$188.7 million ($148.17 million), down from C$720 million, as COVID-19 weighed on travel demand. |
35058.0 | 2020-12-13 00:00:00 UTC | Falling plane values, e-commerce rise fuels boom in converting passenger planes to freighters | AC | https://www.nasdaq.com/articles/falling-plane-values-e-commerce-rise-fuels-boom-in-converting-passenger-planes-to | nan | nan | By Jamie Freed, Ari Rabinovitch and Allison Lampert
SYDNEY/JERUSALEM/MONTREAL Dec 14 (Reuters) - From Air Canada AC.TO to China's CDB Aviation, airlines and leasing firms are rushing to permanently convert older passenger jets into freighters, betting on a boom in e-commerce as the value of used planes tumbles amid the pandemic.
That has created a huge opportunity for passenger-to-freighter (P2F) conversion companies, including Singapore Technologies (ST) Engineering Ltd STEG.SI, Israel Aerospace Industries (IAI) and U.S.-based Aeronautical Engineers Inc.
Aviation analytics firm Cirium expects the number of P2F conversions globally will rise by 36% to 90 planes in 2021, and to 109 planes in 2022.
"We estimate that most slots are sold for 2021 and at least 40% for 2022," Cirium Head of Market Analysis Chris Seymour said. "There is an increase in newer-generation programs, notably the 737-800 and A321 as well as the A330, although older types like the 767 continue to see strong demand, driven in the past few years by Amazon building their own fleet."
The market value of 15-year-old planes has fallen by 20% to 47% since the start of the year depending on the model, according to advisory firm Ishka, which makes freighter conversions more attractive.
Air Canada is looking to convert several of its Boeing Co BA.N 767s, Russia's S7 Group is acquiring its first 737-800 converted freighters from lessor GECAS, and lessor CDB Aviation has ordered two Airbus SE AIR.PA A330 conversions from ST Engineering's EFW joint venture with Airbus.
The P2F conversions are a step beyond the cheaper temporary conversions many airlines have implemented during the pandemic, which remove passenger seats to carry more cargo.
Permanent conversions are a financial bet that air freight demand, which was weak before COVID-19, will remain strong for years to come as shoppers turn to e-commerce. The airline industry estimates it will take until 2024 for passenger traffic to recover to 2019 levels.
Freight markets are notoriously volatile, however, and have been beset by extended downturns; shortage can quickly turn into overcapacity, analysts warn.
Normally about half of the world's cargo is carried in the bellies of passenger planes, but the hit to demand has left the world more reliant on dedicated freighters.
"2020 has seen record high freighter aircraft utilisation, and our view is that the pandemic has accelerated the long-term structural shift towards increased e-commerce demand," said CDB Aviation chief executive Patrick Hannigan.
Boeing said cargo yields had risen by 40% through September because of the pandemic-related passenger disruptions, and it forecasts more than 60% of freighter deliveries over the next 20 years will be conversions rather than new widebody freighters like the 777. Narrowbody freighters are almost all conversions.
The conversion boom is also helping aviation maintenance, repair and overhaul groups offset some of the lost business from the decline in passenger flights.
Such conversions generally cost millions of dollars on top of the cost of the aircraft and take three to four months, said ST Engineering Aerospace president Jeffrey Lam said.
His company is ramping up capacity, with plans to convert at least 18 A321 planes next year, rising to around 25-30 annually in the future, up from single digits this year.
"We are all booked out for 2021 for aircraft conversions," Lam said. "The first slots are well into 2022."
ST Engineering also may add converted freighters to its leasing business, which has focused on passenger planes, he said.
IAI can convert 18 or more 767s a year and produces most of those used by Amazon.com Inc AMZN.O.
"We are investing a lot of effort to meet the market demand," said Yosef Melamed, general manager of IAI's aviation group, which is also working on the first-ever P2F conversion of the larger 777-300ER as part of a 15-plane contract with GECAS.
"What happened with the coronavirus outbreak, commercial flights were significantly reduced ... international flights dropped to nearly zero," he said. "So the only solution for transporting cargo, and with the trend that people are staying at home ordering online, is cargo planes."
U.S.-based Aeronautical Engineers is also seeing a dramatic increase in demand for conversions, said Robert Convey, its senior vice president for sales and marketing, citing a 30-40% fall in the value of planes.
"We're seeing younger and younger aircraft being converted due to the large number of passenger aircraft that have been grounded and are not likely to return to service in the near future," he said.
Grant Stevens, vice president of corporate services at Canada's KF Aerospace, said increased demand for P2F conversions, which grew from about 10% of its business before the pandemic to about half today, has helped offset a decline in requests for aircraft maintenance.
"We have been able to employ most of our staff by doing conversions," he said.
Passenger-to-freighter conversionshttps://graphics.reuters.com/HEALTH-CORONAVIRUS/AIRLINES-FREIGHT/azgpozgknvd/
(Reporting by Jamie Freed, Ari Rabinovitch and Allison Lampert. Editing by Gerry Doyle)
((Jamie.Freed@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Jamie Freed, Ari Rabinovitch and Allison Lampert SYDNEY/JERUSALEM/MONTREAL Dec 14 (Reuters) - From Air Canada AC.TO to China's CDB Aviation, airlines and leasing firms are rushing to permanently convert older passenger jets into freighters, betting on a boom in e-commerce as the value of used planes tumbles amid the pandemic. "2020 has seen record high freighter aircraft utilisation, and our view is that the pandemic has accelerated the long-term structural shift towards increased e-commerce demand," said CDB Aviation chief executive Patrick Hannigan. Grant Stevens, vice president of corporate services at Canada's KF Aerospace, said increased demand for P2F conversions, which grew from about 10% of its business before the pandemic to about half today, has helped offset a decline in requests for aircraft maintenance. | By Jamie Freed, Ari Rabinovitch and Allison Lampert SYDNEY/JERUSALEM/MONTREAL Dec 14 (Reuters) - From Air Canada AC.TO to China's CDB Aviation, airlines and leasing firms are rushing to permanently convert older passenger jets into freighters, betting on a boom in e-commerce as the value of used planes tumbles amid the pandemic. That has created a huge opportunity for passenger-to-freighter (P2F) conversion companies, including Singapore Technologies (ST) Engineering Ltd STEG.SI, Israel Aerospace Industries (IAI) and U.S.-based Aeronautical Engineers Inc. Aviation analytics firm Cirium expects the number of P2F conversions globally will rise by 36% to 90 planes in 2021, and to 109 planes in 2022. Air Canada is looking to convert several of its Boeing Co BA.N 767s, Russia's S7 Group is acquiring its first 737-800 converted freighters from lessor GECAS, and lessor CDB Aviation has ordered two Airbus SE AIR.PA A330 conversions from ST Engineering's EFW joint venture with Airbus. | By Jamie Freed, Ari Rabinovitch and Allison Lampert SYDNEY/JERUSALEM/MONTREAL Dec 14 (Reuters) - From Air Canada AC.TO to China's CDB Aviation, airlines and leasing firms are rushing to permanently convert older passenger jets into freighters, betting on a boom in e-commerce as the value of used planes tumbles amid the pandemic. That has created a huge opportunity for passenger-to-freighter (P2F) conversion companies, including Singapore Technologies (ST) Engineering Ltd STEG.SI, Israel Aerospace Industries (IAI) and U.S.-based Aeronautical Engineers Inc. Aviation analytics firm Cirium expects the number of P2F conversions globally will rise by 36% to 90 planes in 2021, and to 109 planes in 2022. Air Canada is looking to convert several of its Boeing Co BA.N 767s, Russia's S7 Group is acquiring its first 737-800 converted freighters from lessor GECAS, and lessor CDB Aviation has ordered two Airbus SE AIR.PA A330 conversions from ST Engineering's EFW joint venture with Airbus. | By Jamie Freed, Ari Rabinovitch and Allison Lampert SYDNEY/JERUSALEM/MONTREAL Dec 14 (Reuters) - From Air Canada AC.TO to China's CDB Aviation, airlines and leasing firms are rushing to permanently convert older passenger jets into freighters, betting on a boom in e-commerce as the value of used planes tumbles amid the pandemic. Grant Stevens, vice president of corporate services at Canada's KF Aerospace, said increased demand for P2F conversions, which grew from about 10% of its business before the pandemic to about half today, has helped offset a decline in requests for aircraft maintenance. That has created a huge opportunity for passenger-to-freighter (P2F) conversion companies, including Singapore Technologies (ST) Engineering Ltd STEG.SI, Israel Aerospace Industries (IAI) and U.S.-based Aeronautical Engineers Inc. Aviation analytics firm Cirium expects the number of P2F conversions globally will rise by 36% to 90 planes in 2021, and to 109 planes in 2022. |
35059.0 | 2020-12-10 00:00:00 UTC | CANADA STOCKS-TSX falls as technology stocks lead declines | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-as-technology-stocks-lead-declines-2020-12-10 | nan | nan | Dec 10 (Reuters) - Canada's main stock index fell on Thursday, after hitting its highest since February in the previous session, pressured by losses in technology companies.
* Nine of the index's 11 major sectors fell, led by the technology sector .SPTTTK, which shed 1.34%.
* IT firms Kinaxis Inc KXS.TO and Lightspeed POS Inc LSPD.TO, fell 2.5% and 1.89%, respectively, while Apparel maker Canada Goose Holdings Inc GOOS.TO fell 3.5%, the most on the TSX.
* At 09:48 a.m. ET (1448 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 46.95 points, or 0.27%, at 17,512.91.
* The energy sector .SPTTEN climbed 1.4%, as U.S. crude CLc1 prices were up 2.1% a barrel and Brent crude LCOc1 added 2.1%. O/R
* The materials sector .GSPTTMT, which includes precious metal miners, added 0.5%, tracking gold prices. GOL/
* On the TSX, 104 issues were higher, while 116 issues declined for a 1.12-to-1 ratio to the downside, with 27.12 million shares traded.
* The largest percentage gainer on the TSX was MEG Energy Corp MEG.TO, which jumped 5.9%, after Goldman Sachs raised its price target on the oil producer's stock, followed by Whitecap Resources Inc WCP.TO, which rose 5.5%.
* The most heavily traded shares by volume were Canadian Natural Resources Limited CNQ.TO, BCE Inc BCE.TO and Air Canada AC.TO.
* The TSX posted five new 52-week highs and no new low.
* Across all Canadian issues there were 16 new 52-week highs and three new lows, with total volume of 51.59 million shares.
(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The largest percentage gainer on the TSX was MEG Energy Corp MEG.TO, which jumped 5.9%, after Goldman Sachs raised its price target on the oil producer's stock, followed by Whitecap Resources Inc WCP.TO, which rose 5.5%. * The most heavily traded shares by volume were Canadian Natural Resources Limited CNQ.TO, BCE Inc BCE.TO and Air Canada AC.TO. O/R * The materials sector .GSPTTMT, which includes precious metal miners, added 0.5%, tracking gold prices. | * The most heavily traded shares by volume were Canadian Natural Resources Limited CNQ.TO, BCE Inc BCE.TO and Air Canada AC.TO. * Across all Canadian issues there were 16 new 52-week highs and three new lows, with total volume of 51.59 million shares. O/R * The materials sector .GSPTTMT, which includes precious metal miners, added 0.5%, tracking gold prices. | * The largest percentage gainer on the TSX was MEG Energy Corp MEG.TO, which jumped 5.9%, after Goldman Sachs raised its price target on the oil producer's stock, followed by Whitecap Resources Inc WCP.TO, which rose 5.5%. O/R * The materials sector .GSPTTMT, which includes precious metal miners, added 0.5%, tracking gold prices. * The most heavily traded shares by volume were Canadian Natural Resources Limited CNQ.TO, BCE Inc BCE.TO and Air Canada AC.TO. | * Across all Canadian issues there were 16 new 52-week highs and three new lows, with total volume of 51.59 million shares. O/R * The materials sector .GSPTTMT, which includes precious metal miners, added 0.5%, tracking gold prices. * The largest percentage gainer on the TSX was MEG Energy Corp MEG.TO, which jumped 5.9%, after Goldman Sachs raised its price target on the oil producer's stock, followed by Whitecap Resources Inc WCP.TO, which rose 5.5%. |
35060.0 | 2020-12-09 00:00:00 UTC | CANADA STOCKS - TSX falls 0.37% to 17,574.29 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-0.37-to-17574.29-2020-12-09 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.37 percent to 17,574.29
* Leading the index were Whitecap Resources Inc , up 4.8%, Linamar Corp LNR.TO, up 4.7%, and George Weston Ltd WN.TO, higher by 3.8%.
* Lagging shares were Trillium Therapeutics Inc TRIL.TO, down 11.4%, Ballard Power Systems Inc BLDP.TO, down 6.8%, and Aurora Cannabis Inc ACB.TO, lower by 6.5%.
* On the TSX 78 issues rose and 141 fell as a 0.6-to-1 ratio favored decliners. There were 11 new highs and no new lows, with total volume of 199.9 million shares.
* The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Crescent Point Energy Corp CPG.TO.
* The TSX's energy group .SPTTEN fell 0.35 points, or 0.4%, while the financials sector .SPTTFS climbed 1.34 points, or 0.4%.
* West Texas Intermediate crude futures CLc1 rose 0.02%, or $0.01, to $45.61 a barrel. Brent crude LCOc1 rose 0.23%, or $0.11, to $48.95 O/R
* The TSX is up 3% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were Trillium Therapeutics Inc TRIL.TO, down 11.4%, Ballard Power Systems Inc BLDP.TO, down 6.8%, and Aurora Cannabis Inc ACB.TO, lower by 6.5%. * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Crescent Point Energy Corp CPG.TO. * The Toronto Stock Exchange's TSX falls 0.37 percent to 17,574.29 * Leading the index were Whitecap Resources Inc , up 4.8%, Linamar Corp LNR.TO, up 4.7%, and George Weston Ltd WN.TO, higher by 3.8%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Crescent Point Energy Corp CPG.TO. * Lagging shares were Trillium Therapeutics Inc TRIL.TO, down 11.4%, Ballard Power Systems Inc BLDP.TO, down 6.8%, and Aurora Cannabis Inc ACB.TO, lower by 6.5%. * On the TSX 78 issues rose and 141 fell as a 0.6-to-1 ratio favored decliners. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Crescent Point Energy Corp CPG.TO. * Lagging shares were Trillium Therapeutics Inc TRIL.TO, down 11.4%, Ballard Power Systems Inc BLDP.TO, down 6.8%, and Aurora Cannabis Inc ACB.TO, lower by 6.5%. * The Toronto Stock Exchange's TSX falls 0.37 percent to 17,574.29 * Leading the index were Whitecap Resources Inc , up 4.8%, Linamar Corp LNR.TO, up 4.7%, and George Weston Ltd WN.TO, higher by 3.8%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Crescent Point Energy Corp CPG.TO. * Lagging shares were Trillium Therapeutics Inc TRIL.TO, down 11.4%, Ballard Power Systems Inc BLDP.TO, down 6.8%, and Aurora Cannabis Inc ACB.TO, lower by 6.5%. * The Toronto Stock Exchange's TSX falls 0.37 percent to 17,574.29 * Leading the index were Whitecap Resources Inc , up 4.8%, Linamar Corp LNR.TO, up 4.7%, and George Weston Ltd WN.TO, higher by 3.8%. |
35061.0 | 2020-12-09 00:00:00 UTC | CANADA STOCKS-TSX slips after 6-day rally as miners weigh | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-slips-after-6-day-rally-as-miners-weigh-2020-12-09 | nan | nan | Dec 9 (Reuters) - Canada's main stock index dipped on Wednesday after a six-day rally as declining gold prices dragged down miners, while the central bank held it key interest rate as expected.
* At 10:27 a.m. ET (1527 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 26.79 points, or 0.15%, at 17,613.56. The index hovered near its strongest level since late February.
* The Bank of Canada left its key interest rate unchanged at 0.25%, and said it would maintain its current policy of quantitative easing. The central bank reiterated it would leave rates unchanged until some point in 2023.
* The Canadian dollar CAD= was trading 0.3% higher at C$1.2778 to the U.S. dollar.
* Miners fell most on the index as gold prices decreased 1%, with optimism over COVID-19 vaccine developments prompting a rush for riskier assets. GOL/
* SSR Mining Inc SSRM.TO fell 4.0%, the most on the TSX, while the second biggest decliner was Silvercorp Metals Inc SVM.TO, down 3.7%.
* The energy sector .SPTTEN gained 1.6% on a jump in U.S. crude prices CLc1 due to hopes of a recovery in fuel demand and the U.S. dollar, in which oil is traded, reached 2 1/2-year lows. O/R
* Shares in oil producer Whitecap Resources Inc WCP.TO jumped almost 12% to the top of TSX after it agreed to buy rival TORC Oil & Gas Ltd TOG.TO in an all-stock deal valued at about C$552 million ($430.81 million). Torc's shares rose 7.3%.
** Dollarama Inc DOL.TO rose almost 3% after it beat analysts' estimates for third-quarter sales.
* Among other top gainers on the TSX was Vermilion Energy Inc , which rose 4.1%.
* The most heavily traded shares by volume were Whitecap Resources Inc , Crescent Point Energy Corp and Air Canada .
* The TSX posted eight new 52-week highs and no new lows.
* Across all Canadian issues there were 67 new 52-week highs and five new lows, with total volume of 72.96 million shares.
* On the TSX, 109 issues were higher, while 108 issues declined for a 1.01-to-1 ratio favoring gainers, with 37.09 million shares traded.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Krishna Chandra Eluri)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Miners fell most on the index as gold prices decreased 1%, with optimism over COVID-19 vaccine developments prompting a rush for riskier assets. * The energy sector .SPTTEN gained 1.6% on a jump in U.S. crude prices CLc1 due to hopes of a recovery in fuel demand and the U.S. dollar, in which oil is traded, reached 2 1/2-year lows. * Across all Canadian issues there were 67 new 52-week highs and five new lows, with total volume of 72.96 million shares. | * Miners fell most on the index as gold prices decreased 1%, with optimism over COVID-19 vaccine developments prompting a rush for riskier assets. * The energy sector .SPTTEN gained 1.6% on a jump in U.S. crude prices CLc1 due to hopes of a recovery in fuel demand and the U.S. dollar, in which oil is traded, reached 2 1/2-year lows. * Across all Canadian issues there were 67 new 52-week highs and five new lows, with total volume of 72.96 million shares. | * Miners fell most on the index as gold prices decreased 1%, with optimism over COVID-19 vaccine developments prompting a rush for riskier assets. * The energy sector .SPTTEN gained 1.6% on a jump in U.S. crude prices CLc1 due to hopes of a recovery in fuel demand and the U.S. dollar, in which oil is traded, reached 2 1/2-year lows. * Across all Canadian issues there were 67 new 52-week highs and five new lows, with total volume of 72.96 million shares. | * Across all Canadian issues there were 67 new 52-week highs and five new lows, with total volume of 72.96 million shares. * Miners fell most on the index as gold prices decreased 1%, with optimism over COVID-19 vaccine developments prompting a rush for riskier assets. * The energy sector .SPTTEN gained 1.6% on a jump in U.S. crude prices CLc1 due to hopes of a recovery in fuel demand and the U.S. dollar, in which oil is traded, reached 2 1/2-year lows. |
35062.0 | 2020-12-08 00:00:00 UTC | Boeing 787 delivery dry spell adds to 737 MAX woes | AC | https://www.nasdaq.com/articles/boeing-787-delivery-dry-spell-adds-to-737-max-woes-2020-12-08-0 | nan | nan | By Eric M. Johnson
SEATTLE, Dec 8 (Reuters) - Boeing Co BA.N lost another 63 orders in November for its newly un-grounded 737 MAX jet, and the company delivered seven aircraft to customers, down from 24 in the same month a year ago, company data showed on Tuesday.
The embattled U.S. planemaker had no 787 Dreamliner deliveries to customers last month, warning that inspections over quality flaws and the resurgent coronavirus will continue to hamper deliveries through | By Eric M. Johnson SEATTLE, Dec 8 (Reuters) - Boeing Co BA.N lost another 63 orders in November for its newly un-grounded 737 MAX jet, and the company delivered seven aircraft to customers, down from 24 in the same month a year ago, company data showed on Tuesday. The embattled U.S. planemaker had no 787 Dreamliner deliveries to customers last month, warning that inspections over quality flaws and the resurgent coronavirus will continue to hamper deliveries through | By Eric M. Johnson SEATTLE, Dec 8 (Reuters) - Boeing Co BA.N lost another 63 orders in November for its newly un-grounded 737 MAX jet, and the company delivered seven aircraft to customers, down from 24 in the same month a year ago, company data showed on Tuesday. The embattled U.S. planemaker had no 787 Dreamliner deliveries to customers last month, warning that inspections over quality flaws and the resurgent coronavirus will continue to hamper deliveries through | By Eric M. Johnson SEATTLE, Dec 8 (Reuters) - Boeing Co BA.N lost another 63 orders in November for its newly un-grounded 737 MAX jet, and the company delivered seven aircraft to customers, down from 24 in the same month a year ago, company data showed on Tuesday. The embattled U.S. planemaker had no 787 Dreamliner deliveries to customers last month, warning that inspections over quality flaws and the resurgent coronavirus will continue to hamper deliveries through | By Eric M. Johnson SEATTLE, Dec 8 (Reuters) - Boeing Co BA.N lost another 63 orders in November for its newly un-grounded 737 MAX jet, and the company delivered seven aircraft to customers, down from 24 in the same month a year ago, company data showed on Tuesday. The embattled U.S. planemaker had no 787 Dreamliner deliveries to customers last month, warning that inspections over quality flaws and the resurgent coronavirus will continue to hamper deliveries through |
35063.0 | 2020-12-08 00:00:00 UTC | Boeing 787 delivery dry spell adds to 737 MAX woes | AC | https://www.nasdaq.com/articles/boeing-787-delivery-dry-spell-adds-to-737-max-woes-2020-12-08 | nan | nan | By Eric M. Johnson
SEATTLE, Dec 8 (Reuters) - Boeing Co BA.N lost another 63 orders for its newly un-grounded 737 MAX jet in November, and the company delivered seven aircraft to customers, down from 24 in the same month a year ago, company data showed on Tuesday.
The embattled U.S. planemaker had no 787 Dreamliner deliveries to customers last month, warning that inspections over quality flaws and the resurgent coronavirus will continue to hamper deliveries through year-end.
Jet deliveries are being closely scrutinized by investors as they generate much-needed cash during the coronavirus crisis.
Boeing's European rival Airbus AIR.PA delivered 64 aircraft in November, bringing the total so far this year to 477, compared to Boeing's 118.
Boeing's closely watched monthly orders and deliveries snapshot comes five days after Ireland's Ryanair RYA.I booked a December order for 75 737 MAX jets, throwing Boeing a commercial lifeline after regulators lifted a 20-month safety ban.
For November, Boeing received orders for two KC-46 tankers.
Boeing said it lost orders for 17 737 MAXs from unidentified customers, while Air Lease Corp AL.N and Air Canada AC.TO scrubbed orders for 23 jets.
Virgin Australia reduced and restructured an order for 48 737 MAX jets by replacing it with a contract for 25 of the MAX 10 variants, which have more seats.
Canceled MAX orders, including those where buyers converted to a different model, stood at 536 jets - and 548 for all jets across Boeing's portfolio, Boeing said on Tuesday.
For 2020 through November, the number of MAX orders canceled, or removed from Boeing's official backlog when it applies stricter accounting standards, stood at 1,068 aircraft.
Boeing orders from January through November, before the accounting adjustment, went to minus 454 for all models, compared to Airbus' net total of 297 after cancellations.
Boeing delivered seven planes last month: two P-8 maritime patrol aircraft, one 747 freighter for United Parcel Service UPS.N, one 767 freighter for FedEx Corp FDX.N and three 777 widebodies.
The seven jets Boeing handed to customers in November compares to 24 a year earlier and 13 in October.
For the year through November, Boeing delivered 118 aircraft, a 65% drop from the 345 it delivered for the same period a year ago.
(Reporting by Eric M. Johnson in Seattle; Editing by Cynthia Osterman)
((Eric.m.johnson@thomsonreuters.com; +1 206 707 1218; Follow me on Twitter @ByEricMJohnson;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For 2020 through November, the number of MAX orders canceled, or removed from Boeing's official backlog when it applies stricter accounting standards, stood at 1,068 aircraft. Boeing orders from January through November, before the accounting adjustment, went to minus 454 for all models, compared to Airbus' net total of 297 after cancellations. Boeing said it lost orders for 17 737 MAXs from unidentified customers, while Air Lease Corp AL.N and Air Canada AC.TO scrubbed orders for 23 jets. | Boeing said it lost orders for 17 737 MAXs from unidentified customers, while Air Lease Corp AL.N and Air Canada AC.TO scrubbed orders for 23 jets. Virgin Australia reduced and restructured an order for 48 737 MAX jets by replacing it with a contract for 25 of the MAX 10 variants, which have more seats. Canceled MAX orders, including those where buyers converted to a different model, stood at 536 jets - and 548 for all jets across Boeing's portfolio, Boeing said on Tuesday. | Canceled MAX orders, including those where buyers converted to a different model, stood at 536 jets - and 548 for all jets across Boeing's portfolio, Boeing said on Tuesday. Boeing said it lost orders for 17 737 MAXs from unidentified customers, while Air Lease Corp AL.N and Air Canada AC.TO scrubbed orders for 23 jets. Virgin Australia reduced and restructured an order for 48 737 MAX jets by replacing it with a contract for 25 of the MAX 10 variants, which have more seats. | Boeing said it lost orders for 17 737 MAXs from unidentified customers, while Air Lease Corp AL.N and Air Canada AC.TO scrubbed orders for 23 jets. Virgin Australia reduced and restructured an order for 48 737 MAX jets by replacing it with a contract for 25 of the MAX 10 variants, which have more seats. Canceled MAX orders, including those where buyers converted to a different model, stood at 536 jets - and 548 for all jets across Boeing's portfolio, Boeing said on Tuesday. |
35064.0 | 2020-12-03 00:00:00 UTC | CANADA STOCKS - TSX rises 0.32% to 17,413.49 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.32-to-17413.49-2020-12-03 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.32 percent to 17,413.49
* Leading the index were WSP Global Inc , up 11.6%, Labrador Iron Ore Royalty Corp LIF.TO, up 9.8%, and Descartes Systems Group Inc DSG.TO, higher by 6%.
* Lagging shares were ARC Resources Ltd ARX.TO, down 5.5%, Tourmaline Oil Corp TOU.TO, down 4.5%, and Ballard Power Systems Inc BLDP.TO, lower by 4.1%.
* On the TSX 142 issues rose and 77 fell as a 1.8-to-1 ratio favored advancers. There were 16 new highs and no new lows, with total volume of 199.3 million shares.
* The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aurora Cannabis Inc ACB.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN rose 0.64 points, or 0.7%, while the financials sector .SPTTFS climbed 0.44 points, or 0.1%.
* West Texas Intermediate crude futures CLc1 rose 0.84%, or $0.38, to $45.66 a barrel. Brent crude LCOc1 rose 1.02%, or $0.49, to $48.74 O/R
* The TSX is up 2.1% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aurora Cannabis Inc ACB.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.32 percent to 17,413.49 * Leading the index were WSP Global Inc , up 11.6%, Labrador Iron Ore Royalty Corp LIF.TO, up 9.8%, and Descartes Systems Group Inc DSG.TO, higher by 6%. * Lagging shares were ARC Resources Ltd ARX.TO, down 5.5%, Tourmaline Oil Corp TOU.TO, down 4.5%, and Ballard Power Systems Inc BLDP.TO, lower by 4.1%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aurora Cannabis Inc ACB.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.32 percent to 17,413.49 * Leading the index were WSP Global Inc , up 11.6%, Labrador Iron Ore Royalty Corp LIF.TO, up 9.8%, and Descartes Systems Group Inc DSG.TO, higher by 6%. * The TSX's energy group .SPTTEN rose 0.64 points, or 0.7%, while the financials sector .SPTTFS climbed 0.44 points, or 0.1%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aurora Cannabis Inc ACB.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.32 percent to 17,413.49 * Leading the index were WSP Global Inc , up 11.6%, Labrador Iron Ore Royalty Corp LIF.TO, up 9.8%, and Descartes Systems Group Inc DSG.TO, higher by 6%. * The TSX's energy group .SPTTEN rose 0.64 points, or 0.7%, while the financials sector .SPTTFS climbed 0.44 points, or 0.1%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aurora Cannabis Inc ACB.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.32 percent to 17,413.49 * Leading the index were WSP Global Inc , up 11.6%, Labrador Iron Ore Royalty Corp LIF.TO, up 9.8%, and Descartes Systems Group Inc DSG.TO, higher by 6%. * Lagging shares were ARC Resources Ltd ARX.TO, down 5.5%, Tourmaline Oil Corp TOU.TO, down 4.5%, and Ballard Power Systems Inc BLDP.TO, lower by 4.1%. |
35065.0 | 2020-12-03 00:00:00 UTC | CANADA STOCKS-TSX rises on industrials, strong bank earnings | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-on-industrials-strong-bank-earnings-2020-12-03 | nan | nan | Adds details; updates prices
Dec 3 (Reuters) - Canada's main stock index advanced on Thursday, nearing a more than nine-month high, on gains in industrial and tech stocks and strong quarterly earnings from banks.
* At 10:07 a.m. ET (1507 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 57.28 points, or 0.33%, at 17,415.49.
* Canadian health authorities should soon complete their regulatory review of Pfizer Inc's PFE.N coronavirus vaccine candidate, Health Minister Patty Hajdu said on Wednesday.
* The industrials sector .GSPTTIN rose 0.9%, with WSP Global Inc WSP.TO jumping nearly 11% to the top of index after it announced deal to acquire environmental consulting firm Golder Associates.
* The financials sector .SPTTFS gained 0.4% as Toronto-Dominion Bank TD.TO and Canadian Imperial Bank of Commerce CM.TO wrapped up a forecast-beating fourth quarter by Canadian lenders, setting aside less-than-expected provisions to cover any loan losses from the COVID-19 pandemic.
* The energy sector .SPTTEN dropped 0.8% as U.S. crude CLc1 prices were down 0.2% a barrel, while Brent crude LCOc1 added 0.1%. O/R
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.7%, even as gold futures GCc1 rose 0.4% to $1,832.2 an ounce. GOL/MET/L
* On the TSX, 135 issues were higher, while 83 issues declined for a 1.63-to-1 ratio favoring gainers, with 46.82 million shares traded.
* Iamgold Corp fell 3%, the most on the TSX. The second-biggest decliner was Silvercorp Metal , down 3%.
* The most heavily traded shares by volume were Suncor Energy Inc , down 0.8%; Canadian Natural Resources Ltd , down 0.2% and Air Canada , up 4.7%.
* The TSX posted 8 new 52-week highs and no new lows.
* Across all Canadian issues there were 34 new 52-week highs and 4 new lows, with total volume of 83.77 million shares.
(Reporting by Devik Jain in Bengaluru; Editing by Aditya Soni)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The industrials sector .GSPTTIN rose 0.9%, with WSP Global Inc WSP.TO jumping nearly 11% to the top of index after it announced deal to acquire environmental consulting firm Golder Associates. * Canadian health authorities should soon complete their regulatory review of Pfizer Inc's PFE.N coronavirus vaccine candidate, Health Minister Patty Hajdu said on Wednesday. * Across all Canadian issues there were 34 new 52-week highs and 4 new lows, with total volume of 83.77 million shares. | * Canadian health authorities should soon complete their regulatory review of Pfizer Inc's PFE.N coronavirus vaccine candidate, Health Minister Patty Hajdu said on Wednesday. * The industrials sector .GSPTTIN rose 0.9%, with WSP Global Inc WSP.TO jumping nearly 11% to the top of index after it announced deal to acquire environmental consulting firm Golder Associates. * Across all Canadian issues there were 34 new 52-week highs and 4 new lows, with total volume of 83.77 million shares. | * Canadian health authorities should soon complete their regulatory review of Pfizer Inc's PFE.N coronavirus vaccine candidate, Health Minister Patty Hajdu said on Wednesday. * The industrials sector .GSPTTIN rose 0.9%, with WSP Global Inc WSP.TO jumping nearly 11% to the top of index after it announced deal to acquire environmental consulting firm Golder Associates. * Across all Canadian issues there were 34 new 52-week highs and 4 new lows, with total volume of 83.77 million shares. | * Across all Canadian issues there were 34 new 52-week highs and 4 new lows, with total volume of 83.77 million shares. * Canadian health authorities should soon complete their regulatory review of Pfizer Inc's PFE.N coronavirus vaccine candidate, Health Minister Patty Hajdu said on Wednesday. * The industrials sector .GSPTTIN rose 0.9%, with WSP Global Inc WSP.TO jumping nearly 11% to the top of index after it announced deal to acquire environmental consulting firm Golder Associates. |
35066.0 | 2020-11-27 00:00:00 UTC | CANADA STOCKS - TSX rises 0.32% to 17,406.89 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.32-to-17406.89-2020-11-27 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.32 percent to 17,406.89
* Leading the index were Aurora Cannabis Inc , up 18.0%, Trillium Therapeutics Inc TRIL.TO, up 8.8%, and Cronos Group Inc CRON.TO, higher by 7.7%.
* Lagging shares were Canada Goose Holdings Inc GOOS.TO, down 3.0%, OceanaGold Corp OGC.TO, down 2.4%, and Pretium Resources Inc PVG.TO, lower by 2.3%.
* On the TSX 129 issues rose and 90 fell as a 1.4-to-1 ratio favored advancers. There were 12 new highs and no new lows, with total volume of 162.8 million shares.
* The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN rose 0.43 points, or 0.5%, while the financials sector .SPTTFS climbed 0.53 points, or 0.2%.
* West Texas Intermediate crude futures CLc1 fell 0.42%, or $0.19, to $45.52 a barrel. Brent crude LCOc1 rose 0.98%, or $0.47, to $48.27 O/R
* The TSX is up 2% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.32 percent to 17,406.89 * Leading the index were Aurora Cannabis Inc , up 18.0%, Trillium Therapeutics Inc TRIL.TO, up 8.8%, and Cronos Group Inc CRON.TO, higher by 7.7%. * Lagging shares were Canada Goose Holdings Inc GOOS.TO, down 3.0%, OceanaGold Corp OGC.TO, down 2.4%, and Pretium Resources Inc PVG.TO, lower by 2.3%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.32 percent to 17,406.89 * Leading the index were Aurora Cannabis Inc , up 18.0%, Trillium Therapeutics Inc TRIL.TO, up 8.8%, and Cronos Group Inc CRON.TO, higher by 7.7%. * The TSX's energy group .SPTTEN rose 0.43 points, or 0.5%, while the financials sector .SPTTFS climbed 0.53 points, or 0.2%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.32 percent to 17,406.89 * Leading the index were Aurora Cannabis Inc , up 18.0%, Trillium Therapeutics Inc TRIL.TO, up 8.8%, and Cronos Group Inc CRON.TO, higher by 7.7%. * The TSX's energy group .SPTTEN rose 0.43 points, or 0.5%, while the financials sector .SPTTFS climbed 0.53 points, or 0.2%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * The TSX's energy group .SPTTEN rose 0.43 points, or 0.5%, while the financials sector .SPTTFS climbed 0.53 points, or 0.2%. Brent crude LCOc1 rose 0.98%, or $0.47, to $48.27 O/R * The TSX is up 2% for the year. |
35067.0 | 2020-11-27 00:00:00 UTC | Air Canada reaches deal with pilots to operate dedicated cargo aircraft | AC | https://www.nasdaq.com/articles/air-canada-reaches-deal-with-pilots-to-operate-dedicated-cargo-aircraft-2020-11-27 | nan | nan | Nov 27 (Reuters) - Air Canada AC.TO said on Friday it has reached a deal with its pilots to allow the airline to operate dedicated cargo aircraft, as the carrier converts several of its retired Boeing 767-300ER passenger jets into freighters.
Canada's biggest airline operates up to 100 international, all-cargo flights weekly and the deal with its pilots, represented by Air Canada Pilots Association, will expand its cargo business, Air Canada said.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur)
((Ankit.Ajmera@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 27 (Reuters) - Air Canada AC.TO said on Friday it has reached a deal with its pilots to allow the airline to operate dedicated cargo aircraft, as the carrier converts several of its retired Boeing 767-300ER passenger jets into freighters. Canada's biggest airline operates up to 100 international, all-cargo flights weekly and the deal with its pilots, represented by Air Canada Pilots Association, will expand its cargo business, Air Canada said. (Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur) ((Ankit.Ajmera@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 27 (Reuters) - Air Canada AC.TO said on Friday it has reached a deal with its pilots to allow the airline to operate dedicated cargo aircraft, as the carrier converts several of its retired Boeing 767-300ER passenger jets into freighters. Canada's biggest airline operates up to 100 international, all-cargo flights weekly and the deal with its pilots, represented by Air Canada Pilots Association, will expand its cargo business, Air Canada said. (Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur) ((Ankit.Ajmera@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 27 (Reuters) - Air Canada AC.TO said on Friday it has reached a deal with its pilots to allow the airline to operate dedicated cargo aircraft, as the carrier converts several of its retired Boeing 767-300ER passenger jets into freighters. Canada's biggest airline operates up to 100 international, all-cargo flights weekly and the deal with its pilots, represented by Air Canada Pilots Association, will expand its cargo business, Air Canada said. (Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur) ((Ankit.Ajmera@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 27 (Reuters) - Air Canada AC.TO said on Friday it has reached a deal with its pilots to allow the airline to operate dedicated cargo aircraft, as the carrier converts several of its retired Boeing 767-300ER passenger jets into freighters. Canada's biggest airline operates up to 100 international, all-cargo flights weekly and the deal with its pilots, represented by Air Canada Pilots Association, will expand its cargo business, Air Canada said. (Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur) ((Ankit.Ajmera@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
35068.0 | 2020-11-26 00:00:00 UTC | CANADA STOCKS - TSX rises 0.14% to 17,337.86 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.14-to-17337.86-2020-11-26 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.14 percent to 17,337.86
* Leading the index were Osisko Mining Inc , up 6.5%, Trillium Therapeutics Inc TRIL.TO, up 5.8%, and BRP Inc DOO.TO, higher by 5.4%.
* Lagging shares were Brookfield Asset Management Inc BAMa.TO, down 2.5%, Cronos Group Inc CRON.TO, down 2.2%, and Cenovus Energy Inc CVE.TO, lower by 2.0%.
* On the TSX 137 issues rose and 82 fell as a 1.7-to-1 ratio favored advancers. There were 6 new highs and no new lows, with total volume of 70.9 million shares.
* The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aphria Inc APHA.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN fell 0.30 points, or 0.3%, while the financials sector .SPTTFS slipped 0.90 points, or 0.3%.
* West Texas Intermediate crude futures CLc1 fell 1.58%, or $0.72, to $44.99 a barrel. Brent crude LCOc1 fell 1.81%, or $0.88, to $47.73 O/R
* The TSX is up 1.6% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aphria Inc APHA.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.14 percent to 17,337.86 * Leading the index were Osisko Mining Inc , up 6.5%, Trillium Therapeutics Inc TRIL.TO, up 5.8%, and BRP Inc DOO.TO, higher by 5.4%. * Lagging shares were Brookfield Asset Management Inc BAMa.TO, down 2.5%, Cronos Group Inc CRON.TO, down 2.2%, and Cenovus Energy Inc CVE.TO, lower by 2.0%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aphria Inc APHA.TO and Air Canada AC.TO. * The TSX's energy group .SPTTEN fell 0.30 points, or 0.3%, while the financials sector .SPTTFS slipped 0.90 points, or 0.3%. Brent crude LCOc1 fell 1.81%, or $0.88, to $47.73 O/R * The TSX is up 1.6% for the year. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aphria Inc APHA.TO and Air Canada AC.TO. * Lagging shares were Brookfield Asset Management Inc BAMa.TO, down 2.5%, Cronos Group Inc CRON.TO, down 2.2%, and Cenovus Energy Inc CVE.TO, lower by 2.0%. * The TSX's energy group .SPTTEN fell 0.30 points, or 0.3%, while the financials sector .SPTTFS slipped 0.90 points, or 0.3%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aphria Inc APHA.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.14 percent to 17,337.86 * Leading the index were Osisko Mining Inc , up 6.5%, Trillium Therapeutics Inc TRIL.TO, up 5.8%, and BRP Inc DOO.TO, higher by 5.4%. * Lagging shares were Brookfield Asset Management Inc BAMa.TO, down 2.5%, Cronos Group Inc CRON.TO, down 2.2%, and Cenovus Energy Inc CVE.TO, lower by 2.0%. |
35069.0 | 2020-11-26 00:00:00 UTC | Air Canada seeks to address EU concerns on Transat purchase | AC | https://www.nasdaq.com/articles/air-canada-seeks-to-address-eu-concerns-on-transat-purchase-2020-11-26 | nan | nan | BRUSSELS, Nov 26 (Reuters) - Air Canada AC.TO has offered concessions related to its proposed acquisition of Canadian tour operator Transat TRZ.TO to address EU antitrust concerns, a European Commission filing showed on Thursday.
The Commission, which oversees competition policy in the 27-nation European Union, said the commitments had been submitted on Nov. 25. As a result it, it has extended the deadline for its decision by three weeks to Jan. 29.
The Commission opened an investigation in May on concerns that the deal could push up prices and reduce choice for flights between Europe and Canada.
Air Canada last month cut its offer price for Transat by nearly 75% to about C$188.7 million ($145.13 million) because of the COVID-19 impact on travel demand. ($1 = 1.3002 Canadian dollars)
(Reporting by Philip Blenkinsop, editing by Marine Strauss)
((philip.blenkinsop@thomsonreuters.com; +32 2 585 2869; Reuters Messaging: philip.blenkinsop.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | BRUSSELS, Nov 26 (Reuters) - Air Canada AC.TO has offered concessions related to its proposed acquisition of Canadian tour operator Transat TRZ.TO to address EU antitrust concerns, a European Commission filing showed on Thursday. Air Canada last month cut its offer price for Transat by nearly 75% to about C$188.7 million ($145.13 million) because of the COVID-19 impact on travel demand. The Commission, which oversees competition policy in the 27-nation European Union, said the commitments had been submitted on Nov. 25. | BRUSSELS, Nov 26 (Reuters) - Air Canada AC.TO has offered concessions related to its proposed acquisition of Canadian tour operator Transat TRZ.TO to address EU antitrust concerns, a European Commission filing showed on Thursday. Air Canada last month cut its offer price for Transat by nearly 75% to about C$188.7 million ($145.13 million) because of the COVID-19 impact on travel demand. ($1 = 1.3002 Canadian dollars) (Reporting by Philip Blenkinsop, editing by Marine Strauss) ((philip.blenkinsop@thomsonreuters.com; +32 2 585 2869; Reuters Messaging: philip.blenkinsop.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | BRUSSELS, Nov 26 (Reuters) - Air Canada AC.TO has offered concessions related to its proposed acquisition of Canadian tour operator Transat TRZ.TO to address EU antitrust concerns, a European Commission filing showed on Thursday. Air Canada last month cut its offer price for Transat by nearly 75% to about C$188.7 million ($145.13 million) because of the COVID-19 impact on travel demand. As a result it, it has extended the deadline for its decision by three weeks to Jan. 29. | BRUSSELS, Nov 26 (Reuters) - Air Canada AC.TO has offered concessions related to its proposed acquisition of Canadian tour operator Transat TRZ.TO to address EU antitrust concerns, a European Commission filing showed on Thursday. Air Canada last month cut its offer price for Transat by nearly 75% to about C$188.7 million ($145.13 million) because of the COVID-19 impact on travel demand. The Commission, which oversees competition policy in the 27-nation European Union, said the commitments had been submitted on Nov. 25. |
35070.0 | 2020-11-25 00:00:00 UTC | CANADA STOCKS - TSX rises 0.25% to 17,317.79 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.25-to-17317.79-2020-11-25 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.25 percent to 17,317.79
* Leading the index were Jamieson Wellness Inc , up 7.9%, Lightspeed POS Inc LSPD.TO, up 7.4%, and Cargojet Inc CJT.TO, higher by 5.4%.
* Lagging shares were Canada Goose Holdings Inc GOOS.TO, down 8.0%, Aurora Cannabis Inc ACB.TO, down 5.9%, and Brookfield Asset Management Inc BAMa.TO, lower by 3.6%.
* On the TSX 133 issues rose and 84 fell as a 1.6-to-1 ratio favored advancers. There were 12 new highs and no new lows, with total volume of 179.5 million shares.
* The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN fell 0.54 points, or 0.6%, while the financials sector .SPTTFS slipped 1.72 points, or 0.6%.
* West Texas Intermediate crude futures CLc1 rose 2.05%, or $0.93, to $45.84 a barrel. Brent crude LCOc1 rose 1.94%, or $0.93, to $48.79 O/R
* The TSX is up 1.5% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were Canada Goose Holdings Inc GOOS.TO, down 8.0%, Aurora Cannabis Inc ACB.TO, down 5.9%, and Brookfield Asset Management Inc BAMa.TO, lower by 3.6%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.25 percent to 17,317.79 * Leading the index were Jamieson Wellness Inc , up 7.9%, Lightspeed POS Inc LSPD.TO, up 7.4%, and Cargojet Inc CJT.TO, higher by 5.4%. | * Lagging shares were Canada Goose Holdings Inc GOOS.TO, down 8.0%, Aurora Cannabis Inc ACB.TO, down 5.9%, and Brookfield Asset Management Inc BAMa.TO, lower by 3.6%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The TSX's energy group .SPTTEN fell 0.54 points, or 0.6%, while the financials sector .SPTTFS slipped 1.72 points, or 0.6%. | * Lagging shares were Canada Goose Holdings Inc GOOS.TO, down 8.0%, Aurora Cannabis Inc ACB.TO, down 5.9%, and Brookfield Asset Management Inc BAMa.TO, lower by 3.6%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The TSX's energy group .SPTTEN fell 0.54 points, or 0.6%, while the financials sector .SPTTFS slipped 1.72 points, or 0.6%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * Lagging shares were Canada Goose Holdings Inc GOOS.TO, down 8.0%, Aurora Cannabis Inc ACB.TO, down 5.9%, and Brookfield Asset Management Inc BAMa.TO, lower by 3.6%. * On the TSX 133 issues rose and 84 fell as a 1.6-to-1 ratio favored advancers. |
35071.0 | 2020-11-24 00:00:00 UTC | CANADA STOCKS - TSX rises 1.02% to 17,268.29 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-1.02-to-17268.29-2020-11-24 | nan | nan | * The Toronto Stock Exchange's TSX rises 1.02 percent to 17,268.29
* Leading the index were Aurora Cannabis Inc , up 26.0%, Crescent Point Energy Corp CPG.TO, up 10.1%, and Air Canada AC.TO, higher by 9.3%.
* Lagging shares were Silvercorp Metals Inc SVM.TO, down 12.7%, Ballard Power Systems Inc BLDP.TO, down 8.1%, and Alamos Gold Inc AGI.TO, lower by 5.8%.
* On the TSX 141 issues rose and 76 fell as a 1.9-to-1 ratio favored advancers. There were 17 new highs and no new lows, with total volume of 254.5 million shares.
* The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN rose 3.92 points, or 4.5%, while the financials sector .SPTTFS climbed 5.82 points, or 1.9%.
* West Texas Intermediate crude futures CLc1 rose 4.2%, or $1.81, to $44.87 a barrel. Brent crude LCOc1 rose 3.95%, or $1.82, to $47.88 O/R
* The TSX is up 1.2% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The Toronto Stock Exchange's TSX rises 1.02 percent to 17,268.29 * Leading the index were Aurora Cannabis Inc , up 26.0%, Crescent Point Energy Corp CPG.TO, up 10.1%, and Air Canada AC.TO, higher by 9.3%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * Lagging shares were Silvercorp Metals Inc SVM.TO, down 12.7%, Ballard Power Systems Inc BLDP.TO, down 8.1%, and Alamos Gold Inc AGI.TO, lower by 5.8%. | * The Toronto Stock Exchange's TSX rises 1.02 percent to 17,268.29 * Leading the index were Aurora Cannabis Inc , up 26.0%, Crescent Point Energy Corp CPG.TO, up 10.1%, and Air Canada AC.TO, higher by 9.3%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The TSX's energy group .SPTTEN rose 3.92 points, or 4.5%, while the financials sector .SPTTFS climbed 5.82 points, or 1.9%. | * The Toronto Stock Exchange's TSX rises 1.02 percent to 17,268.29 * Leading the index were Aurora Cannabis Inc , up 26.0%, Crescent Point Energy Corp CPG.TO, up 10.1%, and Air Canada AC.TO, higher by 9.3%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The TSX's energy group .SPTTEN rose 3.92 points, or 4.5%, while the financials sector .SPTTFS climbed 5.82 points, or 1.9%. | * The Toronto Stock Exchange's TSX rises 1.02 percent to 17,268.29 * Leading the index were Aurora Cannabis Inc , up 26.0%, Crescent Point Energy Corp CPG.TO, up 10.1%, and Air Canada AC.TO, higher by 9.3%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * Lagging shares were Silvercorp Metals Inc SVM.TO, down 12.7%, Ballard Power Systems Inc BLDP.TO, down 8.1%, and Alamos Gold Inc AGI.TO, lower by 5.8%. |
35072.0 | 2020-11-23 00:00:00 UTC | CANADA STOCKS - TSX rises 0.46% to 17,097.74 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.46-to-17097.74-2020-11-23 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.46 percent to 17,097.74
* Leading the index were Vermilion Energy Inc , up 13.9%, Ballard Power Systems Inc BLDP.TO, up 11.6%, and Cenovus Energy Inc CVE.TO, higher by 10.8%.
* Lagging shares were Real Matters Inc REAL.TO, down 8.2%, Silvercorp Metals Inc SVM.TO, down 7.2%, and Teranga Gold Corp TGZ.TO, lower by 6.5%.
* On the TSX 123 issues rose and 99 fell as a 1.2-to-1 ratio favored advancers. There were 6 new highs and no new lows, with total volume of 195.6 million shares.
* The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN rose 5.79 points, or 7.1%, while the financials sector .SPTTFS climbed 2.88 points, or 1.0%.
* West Texas Intermediate crude futures CLc1 rose 1.08%, or $0.46, to $42.88 a barrel. Brent crude LCOc1 rose 1.94%, or $0.87, to $45.83 O/R
* The TSX is up 0.2% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * Lagging shares were Real Matters Inc REAL.TO, down 8.2%, Silvercorp Metals Inc SVM.TO, down 7.2%, and Teranga Gold Corp TGZ.TO, lower by 6.5%. * On the TSX 123 issues rose and 99 fell as a 1.2-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The TSX's energy group .SPTTEN rose 5.79 points, or 7.1%, while the financials sector .SPTTFS climbed 2.88 points, or 1.0%. Brent crude LCOc1 rose 1.94%, or $0.87, to $45.83 O/R * The TSX is up 0.2% for the year. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.46 percent to 17,097.74 * Leading the index were Vermilion Energy Inc , up 13.9%, Ballard Power Systems Inc BLDP.TO, up 11.6%, and Cenovus Energy Inc CVE.TO, higher by 10.8%. * The TSX's energy group .SPTTEN rose 5.79 points, or 7.1%, while the financials sector .SPTTFS climbed 2.88 points, or 1.0%. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.46 percent to 17,097.74 * Leading the index were Vermilion Energy Inc , up 13.9%, Ballard Power Systems Inc BLDP.TO, up 11.6%, and Cenovus Energy Inc CVE.TO, higher by 10.8%. * Lagging shares were Real Matters Inc REAL.TO, down 8.2%, Silvercorp Metals Inc SVM.TO, down 7.2%, and Teranga Gold Corp TGZ.TO, lower by 6.5%. |
35073.0 | 2020-11-20 00:00:00 UTC | Delta, WestJet scrap planned joint venture after U.S. demands | AC | https://www.nasdaq.com/articles/delta-westjet-scrap-planned-joint-venture-after-u.s.-demands-2020-11-20 | nan | nan | By David Shepardson
WASHINGTON, Nov 20 (Reuters) - Delta Air Lines DAL.N and Canada's WestJet said late on Friday they had scrapped a proposed U.S.-Canada joint venture after the U.S. government demanded changes the airlines insisted were "unreasonable and unacceptable".
Last month, the U.S. Transportation Department as part of its tentative antitrust immunity approval said it would require the carriers to remove Swoop, an ultra low-cost carrier affiliate of WestJet, from the alliance, and divest 16 takeoff and landing slots at New York's LaGuardia Airport.
The airlines said in a filing that the U.S. demands were "arbitrary and capricious" especially the slot divestitures. They had argued the alliance would "optimize aircraft utilization, enhance schedules, and lower costs."
The airlines said in a joint statement they remain committed to developing a joint venture "but in the meantime will explore deepening the alliance."
The U.S. Transportation Department did not immediately comment on Friday.
The Delta-WestJet joint venture would have had a combined 27% share of scheduled air carrier transborder capacity, while the dominant carrier, Air Canada AC.TO, has 45%.
WestJet is owned by private equity firm Onex Corp ONEX.TO.
Canada, with 38 million people, is the second-largest U.S. international passenger air market after Mexico, with Toronto flights accounting for over 50% of transborder air travel demand.
U.S.-Canada transborder flight capacity has grown 15% over the last five years to 39 million seats annually, but passenger traffic has plummeted sharply in the face of the coronavirus pandemic.
The airlines' application had been pending with U.S. officials for more than two years. The Canadian Competition Bureau conducted its own review and granted an unconditional "no action" letter in June 2019.
U.S. air carriers had urged slot divestitures at LaGuardia, noting American Airlines AAL.O, Delta and United Air Lines UAL.O control 83% of all slots, with Delta controlling 45% of flights.
WestJet and Delta said losing slots would deprive them "of critical operating rights at one of the most important strategic hubs in Delta's global network at a time when Delta is
investing billions of dollars of its own capital in a comprehensive facilities improvement project at this airport."
They would be forced, the airlines added, "to sell these strategic corporate assets during a global pandemic that has inflicted an unprecedented crisis on this industry, virtually
ensuring that they would be sold at a fire sale price."
(Reporting by David Shepardson; Editing by Lincoln Feast and Jacqueline Wong)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By David Shepardson WASHINGTON, Nov 20 (Reuters) - Delta Air Lines DAL.N and Canada's WestJet said late on Friday they had scrapped a proposed U.S.-Canada joint venture after the U.S. government demanded changes the airlines insisted were "unreasonable and unacceptable". U.S.-Canada transborder flight capacity has grown 15% over the last five years to 39 million seats annually, but passenger traffic has plummeted sharply in the face of the coronavirus pandemic. The Delta-WestJet joint venture would have had a combined 27% share of scheduled air carrier transborder capacity, while the dominant carrier, Air Canada AC.TO, has 45%. | By David Shepardson WASHINGTON, Nov 20 (Reuters) - Delta Air Lines DAL.N and Canada's WestJet said late on Friday they had scrapped a proposed U.S.-Canada joint venture after the U.S. government demanded changes the airlines insisted were "unreasonable and unacceptable". The Delta-WestJet joint venture would have had a combined 27% share of scheduled air carrier transborder capacity, while the dominant carrier, Air Canada AC.TO, has 45%. Canada, with 38 million people, is the second-largest U.S. international passenger air market after Mexico, with Toronto flights accounting for over 50% of transborder air travel demand. | By David Shepardson WASHINGTON, Nov 20 (Reuters) - Delta Air Lines DAL.N and Canada's WestJet said late on Friday they had scrapped a proposed U.S.-Canada joint venture after the U.S. government demanded changes the airlines insisted were "unreasonable and unacceptable". The Delta-WestJet joint venture would have had a combined 27% share of scheduled air carrier transborder capacity, while the dominant carrier, Air Canada AC.TO, has 45%. Canada, with 38 million people, is the second-largest U.S. international passenger air market after Mexico, with Toronto flights accounting for over 50% of transborder air travel demand. | The Delta-WestJet joint venture would have had a combined 27% share of scheduled air carrier transborder capacity, while the dominant carrier, Air Canada AC.TO, has 45%. Canada, with 38 million people, is the second-largest U.S. international passenger air market after Mexico, with Toronto flights accounting for over 50% of transborder air travel demand. By David Shepardson WASHINGTON, Nov 20 (Reuters) - Delta Air Lines DAL.N and Canada's WestJet said late on Friday they had scrapped a proposed U.S.-Canada joint venture after the U.S. government demanded changes the airlines insisted were "unreasonable and unacceptable". |
35074.0 | 2020-11-20 00:00:00 UTC | CANADA STOCKS - TSX rises 0.7% to 17,028.73 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.7-to-17028.73-2020-11-20 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.70 percent to 17,028.73
* Leading the index were Aurinia Pharmaceuticals Inc , up 8.1%, Lightspeed POS Inc LSPD.TO, up 7.3%, and BlackBerry Ltd BB.TO, higher by 7.3%.
* Lagging shares were Real Matters Inc REAL.TO, down 15.1%, Air Canada AC.TO, down 3.0%, and Parkland Corp PKI.TO, lower by 3.0%.
* On the TSX 159 issues rose and 58 fell as a 2.7-to-1 ratio favored advancers. There were 5 new highs and no new lows, with total volume of 159.5 million shares.
* The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN rose 0.73 points, or 0.9%, while the financials sector .SPTTFS climbed 0.92 points, or 0.3%.
* West Texas Intermediate crude futures CLc1 rose 1.03%, or $0.43, to $42.17 a barrel. Brent crude LCOc1 rose 1.95%, or $0.86, to $45.06 O/R
* The TSX is off 0.2% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The Toronto Stock Exchange's TSX rises 0.70 percent to 17,028.73 * Leading the index were Aurinia Pharmaceuticals Inc , up 8.1%, Lightspeed POS Inc LSPD.TO, up 7.3%, and BlackBerry Ltd BB.TO, higher by 7.3%. * Lagging shares were Real Matters Inc REAL.TO, down 15.1%, Air Canada AC.TO, down 3.0%, and Parkland Corp PKI.TO, lower by 3.0%. * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. | * Lagging shares were Real Matters Inc REAL.TO, down 15.1%, Air Canada AC.TO, down 3.0%, and Parkland Corp PKI.TO, lower by 3.0%. * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.70 percent to 17,028.73 * Leading the index were Aurinia Pharmaceuticals Inc , up 8.1%, Lightspeed POS Inc LSPD.TO, up 7.3%, and BlackBerry Ltd BB.TO, higher by 7.3%. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.70 percent to 17,028.73 * Leading the index were Aurinia Pharmaceuticals Inc , up 8.1%, Lightspeed POS Inc LSPD.TO, up 7.3%, and BlackBerry Ltd BB.TO, higher by 7.3%. * Lagging shares were Real Matters Inc REAL.TO, down 15.1%, Air Canada AC.TO, down 3.0%, and Parkland Corp PKI.TO, lower by 3.0%. | * The Toronto Stock Exchange's TSX rises 0.70 percent to 17,028.73 * Leading the index were Aurinia Pharmaceuticals Inc , up 8.1%, Lightspeed POS Inc LSPD.TO, up 7.3%, and BlackBerry Ltd BB.TO, higher by 7.3%. * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Cenovus Energy Inc CVE.TO and Air Canada AC.TO. * Lagging shares were Real Matters Inc REAL.TO, down 15.1%, Air Canada AC.TO, down 3.0%, and Parkland Corp PKI.TO, lower by 3.0%. |
35075.0 | 2020-11-19 00:00:00 UTC | CANADA STOCKS-TSX falls as energy stocks weigh | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-as-energy-stocks-weigh-2020-11-19 | nan | nan | Nov 19 (Reuters) - Canada's main stock index fell on Thursday, weighed by energy stocks as oil prices slipped on concerns over a surge in COVID-19 cases and the impact of tighter coronavirus-related restrictions around the globe on fuel demand.
* The energy sector .SPTTEN dropped 1.1% and was among the worst performing sectors on the main index.
* The sector pressured by oil producers Imperial Oil Limited IMO.TO which fell 2.2%, the most on the TSX, and Tourmaline Oil Corp TOU.TO, down 2%.
* At 9:39 a.m. ET (1439 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 28.59 points, or 0.17%, at 16,861.23.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.2% as gold futures GCc1 fell 0.8%.GOL/
* On the TSX, 81 issues were higher, while 131 issues declined for a 1.62-to-1 ratio to the downside, with 15.64 million shares traded.
* The largest percentage gainers on the TSX were Norbord Inc OSB.TO, which jumped 12.3%, after West Fraser Timber WFT.TO agreed to buy the lumber producer, and e-commerce platform Shopify Inc SHOP.TO, which rose 2.6%.
* The most heavily traded shares by volume were Sun Life Financial Inc SLF.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO.
* The TSX posted two new 52-week highs and no new low.
* Across all Canadian issues there were 11 new 52-week highs and two new lows, with total volume of 29.00 million shares.
(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 19 (Reuters) - Canada's main stock index fell on Thursday, weighed by energy stocks as oil prices slipped on concerns over a surge in COVID-19 cases and the impact of tighter coronavirus-related restrictions around the globe on fuel demand. * The most heavily traded shares by volume were Sun Life Financial Inc SLF.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * Across all Canadian issues there were 11 new 52-week highs and two new lows, with total volume of 29.00 million shares. | Nov 19 (Reuters) - Canada's main stock index fell on Thursday, weighed by energy stocks as oil prices slipped on concerns over a surge in COVID-19 cases and the impact of tighter coronavirus-related restrictions around the globe on fuel demand. * The most heavily traded shares by volume were Sun Life Financial Inc SLF.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * Across all Canadian issues there were 11 new 52-week highs and two new lows, with total volume of 29.00 million shares. | Nov 19 (Reuters) - Canada's main stock index fell on Thursday, weighed by energy stocks as oil prices slipped on concerns over a surge in COVID-19 cases and the impact of tighter coronavirus-related restrictions around the globe on fuel demand. * The most heavily traded shares by volume were Sun Life Financial Inc SLF.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * Across all Canadian issues there were 11 new 52-week highs and two new lows, with total volume of 29.00 million shares. | Nov 19 (Reuters) - Canada's main stock index fell on Thursday, weighed by energy stocks as oil prices slipped on concerns over a surge in COVID-19 cases and the impact of tighter coronavirus-related restrictions around the globe on fuel demand. * Across all Canadian issues there were 11 new 52-week highs and two new lows, with total volume of 29.00 million shares. * The most heavily traded shares by volume were Sun Life Financial Inc SLF.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. |
35076.0 | 2020-11-17 00:00:00 UTC | FOCUS-Support for MAX brand wavers as Boeing jet nears green light | AC | https://www.nasdaq.com/articles/focus-support-for-max-brand-wavers-as-boeing-jet-nears-green-light-2020-11-17 | nan | nan | By Eric M. Johnson and Tracy Rucinski
SEATTLE/CHICAGO, Nov 16 (Reuters) - Boeing Co BA.N is set to win approval for its grounded 737 MAX this week, but chinks are appearing in the brand as the most traumatic chapter in the jetmaker's history overshadows the planes' original billing of superlative performance.
When it returns to the skies next month as expected after a nearly two-year safety review, the "MAX" name will still be officially in place. Some airlines, however, have begun to soft-pedal references to the aircraft following two fatal crashes that killed 346 people.
Industry sources familiar with the branding say the name will likely be phased out over time as a strategy unfolds among airlines to de-emphasize the "MAX" label in favor of the formal names assigned to each variant, like "737-7" or "737-8."
"You will see the MAX name used less frequently," one of the sources told Reuters. Another person involved in discussions over the marketing predicted the MAX name would gradually fade in coming years.
Boeing declined to comment.
The wavering support for the brand could be a setback for the company, which had unusually advertised a name as well as a model number, and urged airlines to "Think MAX." It also shows a potential sore point with airlines, who had invested promotional dollars in a name now seen as tarnished.
Brand Finance last year estimated the MAX's problems had wiped $7.5 billion off the value of Boeing's corporate image.
Anticipating this week's approval, American Airlines Group Inc AAL.O plans to relaunch commercial MAX flights on Dec. 29 from Miami to New York City.
While passengers will see the MAX name on booking systems, they will not see it on safety cards in seat pockets, people familiar with the change told Reuters.
American said the change is not intended to hide the MAX brand and corresponds to a plan to standardize safety cards across its 737 fleet that began even before it took delivery of its first Boeing 737 MAX aircraft in 2017.
"This approach is consistent with other fleet types where we do not have different safety cards for sub-fleets," a spokeswoman said, noting a similar move with its A321 fleet.
American has vowed to be transparent with customers about the MAX and will offer other travel options if they don't want to fly the aircraft.
Originally conceived in 2011, the word "MAX" was only ever a marketing title for the latest 737. Removing it from the cards has no impact on safety. But the cabin is where airlines define their brand, planning every visual cue, and virtually nothing there happens by chance, airline marketing experts say.
Doubts over the name surfaced in August when a news release on a MAX order from Poland's Enter Air referred to it as the "737-8."
Last week, Air Canada AC.TO used the same designation in a news release on quarterly earnings, with "MAX" appearing only in footnotes - a change from the year-ago format. An Air Canada spokeswoman said the airline uses the term "interchangeably."
While it is keeping the name, Boeing allows airlines to decide how they want to market the MAX. Even before the crashes, Ireland's Ryanair Holdings PLC RYA.I had decided to refer to its specially designed version as the "Gamechanger" rather than "MAX".
"If Boeing's customers want it dropped, it will be dropped," a third source said, adding that some key "customers are saying the name MAX is tainted."
HIGH VISIBILITY
Pressures on the once-unstoppable brand name for Boeing's fastest-selling jet highlight a delicate problem for airlines.
In the near-term, they must restore public trust in the aircraft, which calls for transparency about which plane is being used, something U.S. operators have pledged to enforce.
But the name has also drawn high-profile scepticism.
In April 2019, U.S. President Donald Trump tweeted, "I would FIX the Boeing 737 MAX, add some additional great features, & REBRAND the plane with a new name."
In January 2020, the chairman of Air Lease Corp AL.N, an influential buyer, said the "damaged" brand should be dropped.
Changing the name of a tarnished brand has been a well-proven strategy for companies seeking to move past crises.
"Some people will remember and give you grief in the short term, but you've broken the connection," said Paul Argenti, a professor at Dartmouth's Tuck School of Business. "Someone getting on the plane four years from now won't remember 'MAX.'"
JET NICKNAMES
The MAX's branding woes are all the more tricky for Boeing, as naming civilian jets is the exception rather than the rule.
While official nicknames are common for military jets like the F/A-18 "Super Hornet," Boeing only gave its first nickname to a civilian jet with its 787 "Dreamliner" about a decade ago.
But for the MAX, it needed to pack a bigger punch in an all-out battle for market share against European rival Airbus SE AIR.PA.
In 2011, Boeing abandoned plans for an all-new jet and launched a quicker 737 MAX upgrade after being blindsided by a huge Airbus sale to American Airlines, the company now reopening MAX flights.
Boeing marketers came up with a name that "ticked numerous boxes: max performance, max capacity, max range," said a person familiar with the discussions.
A promotional Boeing video using camera angles to give the impression of a vertical take-off - tagged "Flown by Boeing test pilots. Do not attempt" - underscored the superlative claims.
"It was short and effective," the person familiar with the discussions said of the name. "The problem," he added, "is that in a negative context it has been very effective too."
(Reporting by Eric M. Johnson in Seattle, Tim Hepher in Paris, and Tracy Rucinski in Chicago; additional reporting by Allison Lampert in Montreal; editing by Matthew Lewis and Edward Tobin)
((Eric.m.johnson@thomsonreuters.com; +1 206 707 1218; Follow me on Twitter @ByEricMJohnson;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Eric M. Johnson and Tracy Rucinski SEATTLE/CHICAGO, Nov 16 (Reuters) - Boeing Co BA.N is set to win approval for its grounded 737 MAX this week, but chinks are appearing in the brand as the most traumatic chapter in the jetmaker's history overshadows the planes' original billing of superlative performance. When it returns to the skies next month as expected after a nearly two-year safety review, the "MAX" name will still be officially in place. Industry sources familiar with the branding say the name will likely be phased out over time as a strategy unfolds among airlines to de-emphasize the "MAX" label in favor of the formal names assigned to each variant, like "737-7" or "737-8." | By Eric M. Johnson and Tracy Rucinski SEATTLE/CHICAGO, Nov 16 (Reuters) - Boeing Co BA.N is set to win approval for its grounded 737 MAX this week, but chinks are appearing in the brand as the most traumatic chapter in the jetmaker's history overshadows the planes' original billing of superlative performance. When it returns to the skies next month as expected after a nearly two-year safety review, the "MAX" name will still be officially in place. Industry sources familiar with the branding say the name will likely be phased out over time as a strategy unfolds among airlines to de-emphasize the "MAX" label in favor of the formal names assigned to each variant, like "737-7" or "737-8." | American said the change is not intended to hide the MAX brand and corresponds to a plan to standardize safety cards across its 737 fleet that began even before it took delivery of its first Boeing 737 MAX aircraft in 2017. Boeing marketers came up with a name that "ticked numerous boxes: max performance, max capacity, max range," said a person familiar with the discussions. By Eric M. Johnson and Tracy Rucinski SEATTLE/CHICAGO, Nov 16 (Reuters) - Boeing Co BA.N is set to win approval for its grounded 737 MAX this week, but chinks are appearing in the brand as the most traumatic chapter in the jetmaker's history overshadows the planes' original billing of superlative performance. | American said the change is not intended to hide the MAX brand and corresponds to a plan to standardize safety cards across its 737 fleet that began even before it took delivery of its first Boeing 737 MAX aircraft in 2017. By Eric M. Johnson and Tracy Rucinski SEATTLE/CHICAGO, Nov 16 (Reuters) - Boeing Co BA.N is set to win approval for its grounded 737 MAX this week, but chinks are appearing in the brand as the most traumatic chapter in the jetmaker's history overshadows the planes' original billing of superlative performance. When it returns to the skies next month as expected after a nearly two-year safety review, the "MAX" name will still be officially in place. |
35077.0 | 2020-11-16 00:00:00 UTC | CANADA STOCKS-TSX gains as energy stocks jump on vaccine cheer | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-gains-as-energy-stocks-jump-on-vaccine-cheer-2020-11-16 | nan | nan | Nov 16 (Reuters) - Canada's main stock index rose on Monday, as energy stocks jumped 3% tracking oil prices, after U.S. drugmaker Moderna Inc said its experimental vaccine was 94.5% effective in preventing COVID-19.
* Moderna Inc MRNA.O became the second U.S. company in a week to report positive results from its COVID-19 vaccine trial, which raised hopes of a quicker economic recovery from a pandemic-led recession.
* Adding to the upbeat mood, Canada's factory sales increased by 1.5% in September from August on higher sales in the wood industry, as well as the chemical industry, Statistics Canada said.
* Crude prices rose about 4% and boosted energy stocks .SPTTEN, with oil producer Parex Resources Inc PXT.TO, up 6.1%, leading gains. O/R
* At 9:41 a.m. ET (1441 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 60.24 points, or 0.36%, at 16,735.88.
* The materials sector .GSPTTMT, which includes precious and base metals miners, lost 0.5% as gold prices fell. GOL/
* Fortuna Silver Mines Inc FVI.TO fell 4.9%, the most on the TSX, after Canaccord Genuity downgraded the stock
* The second biggest decliner was Endeavour Mining Corp EDV.TO, down 3.7%, after the miner agreed to buy Teranga Gold TGZ.TO in deal worth $2.4 billion.
* On the TSX, 137 issues were higher, while 84 issues declined for a 1.63-to-1 ratio favouring gainers, with 29.95 million shares traded.
* H&R Real Estate Investment Trust rose 5.7% after TD Securities raised its price target on the real estate investment trust's stock.
* The most heavily traded shares by volume were Manulife Financial Corp , Air Canada and Suncor Energy Inc .
* The TSX posted four new 52-week highs and no new low.
* Across all Canadian issues there were 52 new 52-week highs and three new lows, with total volume of 53.36 million shares.
(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Moderna Inc MRNA.O became the second U.S. company in a week to report positive results from its COVID-19 vaccine trial, which raised hopes of a quicker economic recovery from a pandemic-led recession. Nov 16 (Reuters) - Canada's main stock index rose on Monday, as energy stocks jumped 3% tracking oil prices, after U.S. drugmaker Moderna Inc said its experimental vaccine was 94.5% effective in preventing COVID-19. * Adding to the upbeat mood, Canada's factory sales increased by 1.5% in September from August on higher sales in the wood industry, as well as the chemical industry, Statistics Canada said. | Nov 16 (Reuters) - Canada's main stock index rose on Monday, as energy stocks jumped 3% tracking oil prices, after U.S. drugmaker Moderna Inc said its experimental vaccine was 94.5% effective in preventing COVID-19. * Moderna Inc MRNA.O became the second U.S. company in a week to report positive results from its COVID-19 vaccine trial, which raised hopes of a quicker economic recovery from a pandemic-led recession. * Adding to the upbeat mood, Canada's factory sales increased by 1.5% in September from August on higher sales in the wood industry, as well as the chemical industry, Statistics Canada said. | Nov 16 (Reuters) - Canada's main stock index rose on Monday, as energy stocks jumped 3% tracking oil prices, after U.S. drugmaker Moderna Inc said its experimental vaccine was 94.5% effective in preventing COVID-19. GOL/ * Fortuna Silver Mines Inc FVI.TO fell 4.9%, the most on the TSX, after Canaccord Genuity downgraded the stock * The second biggest decliner was Endeavour Mining Corp EDV.TO, down 3.7%, after the miner agreed to buy Teranga Gold TGZ.TO in deal worth $2.4 billion. * Moderna Inc MRNA.O became the second U.S. company in a week to report positive results from its COVID-19 vaccine trial, which raised hopes of a quicker economic recovery from a pandemic-led recession. | Nov 16 (Reuters) - Canada's main stock index rose on Monday, as energy stocks jumped 3% tracking oil prices, after U.S. drugmaker Moderna Inc said its experimental vaccine was 94.5% effective in preventing COVID-19. * Moderna Inc MRNA.O became the second U.S. company in a week to report positive results from its COVID-19 vaccine trial, which raised hopes of a quicker economic recovery from a pandemic-led recession. * Across all Canadian issues there were 52 new 52-week highs and three new lows, with total volume of 53.36 million shares. |
35078.0 | 2020-11-11 00:00:00 UTC | CANADA STOCKS - TSX rises 0.9% to 16,765.46 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.9-to-16765.46-2020-11-11 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.90 percent to 16,765.46
* Leading the index were Great Canadian Gaming Corp , up 34.7%, Linamar Corp LNR.TO, up 15.9%, and Boyd Group Services Inc BYD.TO, higher by 8%.
* Lagging shares were Aurora Cannabis Inc ACB.TO, down 5.5%, New Gold Inc NGD.TO, down 4.4%, and Torex Gold Resources Inc TXG.TO, lower by 4.1%.
* On the TSX 148 issues rose and 72 fell as a 2.1-to-1 ratio favored advancers. There were 6 new highs and no new lows, with total volume of 198.7 million shares.
* The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Enbridge Inc ENB.TO.
* The TSX's energy group .SPTTEN rose 0.56 points, or 0.7%, while the financials sector .SPTTFS climbed 1.32 points, or 0.5%.
* West Texas Intermediate crude futures CLc1 rose 0.51%, or $0.21, to $41.57 a barrel. Brent crude LCOc1 rose 0.66%, or $0.29, to $43.9 O/R
* The TSX is off 1.7% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Enbridge Inc ENB.TO. * Lagging shares were Aurora Cannabis Inc ACB.TO, down 5.5%, New Gold Inc NGD.TO, down 4.4%, and Torex Gold Resources Inc TXG.TO, lower by 4.1%. * The Toronto Stock Exchange's TSX rises 0.90 percent to 16,765.46 * Leading the index were Great Canadian Gaming Corp , up 34.7%, Linamar Corp LNR.TO, up 15.9%, and Boyd Group Services Inc BYD.TO, higher by 8%. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 5.5%, New Gold Inc NGD.TO, down 4.4%, and Torex Gold Resources Inc TXG.TO, lower by 4.1%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Enbridge Inc ENB.TO. * The TSX's energy group .SPTTEN rose 0.56 points, or 0.7%, while the financials sector .SPTTFS climbed 1.32 points, or 0.5%. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 5.5%, New Gold Inc NGD.TO, down 4.4%, and Torex Gold Resources Inc TXG.TO, lower by 4.1%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Enbridge Inc ENB.TO. * The Toronto Stock Exchange's TSX rises 0.90 percent to 16,765.46 * Leading the index were Great Canadian Gaming Corp , up 34.7%, Linamar Corp LNR.TO, up 15.9%, and Boyd Group Services Inc BYD.TO, higher by 8%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Enbridge Inc ENB.TO. * Lagging shares were Aurora Cannabis Inc ACB.TO, down 5.5%, New Gold Inc NGD.TO, down 4.4%, and Torex Gold Resources Inc TXG.TO, lower by 4.1%. * The Toronto Stock Exchange's TSX rises 0.90 percent to 16,765.46 * Leading the index were Great Canadian Gaming Corp , up 34.7%, Linamar Corp LNR.TO, up 15.9%, and Boyd Group Services Inc BYD.TO, higher by 8%. |
35079.0 | 2020-11-10 00:00:00 UTC | CANADA STOCKS - TSX rises 0.78% to 16,604.80 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.78-to-16604.80-2020-11-10 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.78 percent to 16,604.80
* Leading the index were Enerplus Corp , up 12.0%, Sleep Country Canada Holdings Inc ZZZ.TO, up 9.7%, and Inter Pipeline Ltd IPL.TO, higher by 8.7%.
* Lagging shares were Aurora Cannabis Inc ACB.TO, down 25.7%, Kinaxis Inc KXS.TO, down 11.1%, and Jamieson Wellness Inc JWEL.TO, lower by 8.9%.
* On the TSX 127 issues rose and 94 fell as a 1.4-to-1 ratio favored advancers. There were 4 new highs and no new lows, with total volume of 240.9 million shares.
* The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN rose 1.47 points, or 1.9%, while the financials sector .SPTTFS climbed 6.46 points, or 2.3%.
* West Texas Intermediate crude futures CLc1 rose 2.68%, or $1.08, to $41.37 a barrel. Brent crude LCOc1 rose 2.85%, or $1.21, to $43.61 O/R
* The TSX is off 2.7% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 25.7%, Kinaxis Inc KXS.TO, down 11.1%, and Jamieson Wellness Inc JWEL.TO, lower by 8.9%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.78 percent to 16,604.80 * Leading the index were Enerplus Corp , up 12.0%, Sleep Country Canada Holdings Inc ZZZ.TO, up 9.7%, and Inter Pipeline Ltd IPL.TO, higher by 8.7%. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 25.7%, Kinaxis Inc KXS.TO, down 11.1%, and Jamieson Wellness Inc JWEL.TO, lower by 8.9%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * The TSX's energy group .SPTTEN rose 1.47 points, or 1.9%, while the financials sector .SPTTFS climbed 6.46 points, or 2.3%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * Lagging shares were Aurora Cannabis Inc ACB.TO, down 25.7%, Kinaxis Inc KXS.TO, down 11.1%, and Jamieson Wellness Inc JWEL.TO, lower by 8.9%. * The Toronto Stock Exchange's TSX rises 0.78 percent to 16,604.80 * Leading the index were Enerplus Corp , up 12.0%, Sleep Country Canada Holdings Inc ZZZ.TO, up 9.7%, and Inter Pipeline Ltd IPL.TO, higher by 8.7%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * Lagging shares were Aurora Cannabis Inc ACB.TO, down 25.7%, Kinaxis Inc KXS.TO, down 11.1%, and Jamieson Wellness Inc JWEL.TO, lower by 8.9%. * The Toronto Stock Exchange's TSX rises 0.78 percent to 16,604.80 * Leading the index were Enerplus Corp , up 12.0%, Sleep Country Canada Holdings Inc ZZZ.TO, up 9.7%, and Inter Pipeline Ltd IPL.TO, higher by 8.7%. |
35080.0 | 2020-11-10 00:00:00 UTC | Flight trainer CAE reports quarterly loss on COVID-19 hit | AC | https://www.nasdaq.com/articles/flight-trainer-cae-reports-quarterly-loss-on-covid-19-hit-2020-11-10-0 | nan | nan | Adds details on quarterly deliveries
Nov 10 (Reuters) - Canada's CAE Inc CAE.TO reported a quarterly loss on Tuesday as the COVID-19 pandemic hit demand for training and deliveries of full-flight simulators.
Montreal-based CAE said deliveries of flight simulators fell to 10 units in the second quarter ended Sept. 30, from 18 units a year earlier.
Demand for CAE's flight simulators is linked to new aircraft deliveries by planemakers Boeing Co BA.N and Airbus AIR.PA, which are seeing lower jet sales amid a slump in air travel due to the coronavirus crisis.
CAE, which produces flight simulators for jets including Boeing's 737 MAX planes, is cutting costs and counting on the easing of travel restrictions to bolster demand for pilot-training services.
The world's largest civil aviation training specialist sees training opportunities with airline customers when planes start flying again following regulatory approval.
CAE said its net loss attributable to shareholders was C$5.2 million ($3.99 million), or 2 Canadian cents per share, in the quarter, compared with a profit of C$73.8 million, or 28 Canadian cents per share, a year earlier.
Revenue fell 21% to C$704.7 million.
(Reporting By Allison Lampert in Montreal and Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila and Maju Samuel)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Demand for CAE's flight simulators is linked to new aircraft deliveries by planemakers Boeing Co BA.N and Airbus AIR.PA, which are seeing lower jet sales amid a slump in air travel due to the coronavirus crisis. CAE, which produces flight simulators for jets including Boeing's 737 MAX planes, is cutting costs and counting on the easing of travel restrictions to bolster demand for pilot-training services. (Reporting By Allison Lampert in Montreal and Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila and Maju Samuel) ((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details on quarterly deliveries Nov 10 (Reuters) - Canada's CAE Inc CAE.TO reported a quarterly loss on Tuesday as the COVID-19 pandemic hit demand for training and deliveries of full-flight simulators. Montreal-based CAE said deliveries of flight simulators fell to 10 units in the second quarter ended Sept. 30, from 18 units a year earlier. CAE said its net loss attributable to shareholders was C$5.2 million ($3.99 million), or 2 Canadian cents per share, in the quarter, compared with a profit of C$73.8 million, or 28 Canadian cents per share, a year earlier. | Adds details on quarterly deliveries Nov 10 (Reuters) - Canada's CAE Inc CAE.TO reported a quarterly loss on Tuesday as the COVID-19 pandemic hit demand for training and deliveries of full-flight simulators. Montreal-based CAE said deliveries of flight simulators fell to 10 units in the second quarter ended Sept. 30, from 18 units a year earlier. CAE said its net loss attributable to shareholders was C$5.2 million ($3.99 million), or 2 Canadian cents per share, in the quarter, compared with a profit of C$73.8 million, or 28 Canadian cents per share, a year earlier. | Montreal-based CAE said deliveries of flight simulators fell to 10 units in the second quarter ended Sept. 30, from 18 units a year earlier. Demand for CAE's flight simulators is linked to new aircraft deliveries by planemakers Boeing Co BA.N and Airbus AIR.PA, which are seeing lower jet sales amid a slump in air travel due to the coronavirus crisis. Revenue fell 21% to C$704.7 million. |
35081.0 | 2020-11-10 00:00:00 UTC | Flight trainer CAE reports quarterly loss on COVID-19 hit | AC | https://www.nasdaq.com/articles/flight-trainer-cae-reports-quarterly-loss-on-covid-19-hit-2020-11-10 | nan | nan | Nov 10 (Reuters) - Canada's CAE Inc CAE.TO reported a quarterly loss on Tuesday as the COVID-19 pandemic hit demand for training and deliveries of full-flight simulators.
The world's largest civil aviation training specialist said its net loss attributable to shareholders was C$5.2 million ($3.99 million), or 2 Canadian cents per share, in the second quarter ended Sept. 30, compared with a profit of C$73.8 million, or 28 Canadian cents per share, a year earlier.
(Reporting By Allison Lampert in Montreal and Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 10 (Reuters) - Canada's CAE Inc CAE.TO reported a quarterly loss on Tuesday as the COVID-19 pandemic hit demand for training and deliveries of full-flight simulators. The world's largest civil aviation training specialist said its net loss attributable to shareholders was C$5.2 million ($3.99 million), or 2 Canadian cents per share, in the second quarter ended Sept. 30, compared with a profit of C$73.8 million, or 28 Canadian cents per share, a year earlier. (Reporting By Allison Lampert in Montreal and Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila) ((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 10 (Reuters) - Canada's CAE Inc CAE.TO reported a quarterly loss on Tuesday as the COVID-19 pandemic hit demand for training and deliveries of full-flight simulators. The world's largest civil aviation training specialist said its net loss attributable to shareholders was C$5.2 million ($3.99 million), or 2 Canadian cents per share, in the second quarter ended Sept. 30, compared with a profit of C$73.8 million, or 28 Canadian cents per share, a year earlier. (Reporting By Allison Lampert in Montreal and Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila) ((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 10 (Reuters) - Canada's CAE Inc CAE.TO reported a quarterly loss on Tuesday as the COVID-19 pandemic hit demand for training and deliveries of full-flight simulators. The world's largest civil aviation training specialist said its net loss attributable to shareholders was C$5.2 million ($3.99 million), or 2 Canadian cents per share, in the second quarter ended Sept. 30, compared with a profit of C$73.8 million, or 28 Canadian cents per share, a year earlier. (Reporting By Allison Lampert in Montreal and Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila) ((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 10 (Reuters) - Canada's CAE Inc CAE.TO reported a quarterly loss on Tuesday as the COVID-19 pandemic hit demand for training and deliveries of full-flight simulators. The world's largest civil aviation training specialist said its net loss attributable to shareholders was C$5.2 million ($3.99 million), or 2 Canadian cents per share, in the second quarter ended Sept. 30, compared with a profit of C$73.8 million, or 28 Canadian cents per share, a year earlier. (Reporting By Allison Lampert in Montreal and Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila) ((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
35082.0 | 2020-11-09 00:00:00 UTC | CANADA STOCKS - TSX rises 1.28% to 16,491.60 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-1.28-to-16491.60-2020-11-09 | nan | nan | * The Toronto Stock Exchange's TSX rises 1.28 percent to 16,491.60
* Leading the index were Air Canada , up 26.8%, Vermilion Energy Inc VET.TO, up 26.2%, and Suncor Energy Inc SU.TO, higher by 24.8%.
* Lagging shares were Shopify Inc SHOP.TO, down 13.6%, Cargojet Inc CJT.TO, down 13.0%, and Agnico Eagle Mines Ltd AEM.TO, lower by 9.8%.
* On the TSX 138 issues rose and 82 fell as a 1.7-to-1 ratio favored advancers. There were 22 new highs and no new lows, with total volume of 363.6 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Aurora Cannabis Inc ACB.TO.
* The TSX's energy group .SPTTEN rose 11.19 points, or 17.0%, while the financials sector .SPTTFS climbed 11.14 points, or 4.1%.
* West Texas Intermediate crude futures CLc1 rose 7.84%, or $2.91, to $40.05 a barrel. Brent crude LCOc1 rose 7%, or $2.76, to $42.21 O/R
* The TSX is off 3.4% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Aurora Cannabis Inc ACB.TO. * Lagging shares were Shopify Inc SHOP.TO, down 13.6%, Cargojet Inc CJT.TO, down 13.0%, and Agnico Eagle Mines Ltd AEM.TO, lower by 9.8%. * On the TSX 138 issues rose and 82 fell as a 1.7-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 1.28 percent to 16,491.60 * Leading the index were Air Canada , up 26.8%, Vermilion Energy Inc VET.TO, up 26.2%, and Suncor Energy Inc SU.TO, higher by 24.8%. * The TSX's energy group .SPTTEN rose 11.19 points, or 17.0%, while the financials sector .SPTTFS climbed 11.14 points, or 4.1%. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 1.28 percent to 16,491.60 * Leading the index were Air Canada , up 26.8%, Vermilion Energy Inc VET.TO, up 26.2%, and Suncor Energy Inc SU.TO, higher by 24.8%. * The TSX's energy group .SPTTEN rose 11.19 points, or 17.0%, while the financials sector .SPTTFS climbed 11.14 points, or 4.1%. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Aurora Cannabis Inc ACB.TO. * Lagging shares were Shopify Inc SHOP.TO, down 13.6%, Cargojet Inc CJT.TO, down 13.0%, and Agnico Eagle Mines Ltd AEM.TO, lower by 9.8%. * On the TSX 138 issues rose and 82 fell as a 1.7-to-1 ratio favored advancers. |
35083.0 | 2020-11-09 00:00:00 UTC | CANADA STOCKS-TSX futures jump on positive vaccine news, Biden win | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-jump-on-positive-vaccine-news-biden-win-2020-11-09 | nan | nan | Nov 9 (Reuters) - Futures for Canada's main stock index hit a three-month high on Monday after Pfizer Inc PFE.N said its experimental COVID-19 vaccine was more than 90% effective and as Joe Biden won the U.S. presidential election.
U.S. drugmaker Pfizer and German partner BioNTech SE BNTX.O are the first drugmakers to release successful data from a large-scale clinical trial of a coronavirus vaccine.
The companies said they have so far found no serious safety concerns and expect to seek U.S. authorization this month for emergency use of the vaccine.
Markets were also boosted by prospects of more monetary stimulus under U.S. President-elect Joe Biden.
December futures on the S&P/TSX index SXFc1 were up 3.72% at 7:30 a.m. ET. The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended flat at 16,282.83 on Friday. .TO
Dow Jones Industrial Average e-mini futures 1YMc1 were up 5.25% on Monday. S&P 500 e-mini futures ESc1 gained 3.70% and Nasdaq 100 e-mini futures NQc1 rose 1.02%.N
TOP STORIES TOP/CAN
Air Canada AC.TO posted its third straight quarterly loss on Monday, as the COVID-19 pandemic crippled air travel forcing Canada's biggest airline to cut a majority of its flights.
Canopy Growth Corp WEED.TO, CGC.N reported a smaller quarterly loss on Monday, buoyed by cost cuts and more people turning to cannabis to cope with coronavirus-related lockdowns.
COMMODITIES AT 7:30 a.m. ET
Gold futures GCc2: $1,918; -1.82% GOL/
US crude CLc1: $40.24; +8.10% O/R
Brent crude LCOc1: $42.42; +7.53% O/R
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.30)
(Reporting by Shashank Nayar in Bengaluru; Editing by Amy Caren Daniel)
((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 9 (Reuters) - Futures for Canada's main stock index hit a three-month high on Monday after Pfizer Inc PFE.N said its experimental COVID-19 vaccine was more than 90% effective and as Joe Biden won the U.S. presidential election. The companies said they have so far found no serious safety concerns and expect to seek U.S. authorization this month for emergency use of the vaccine. U.S. drugmaker Pfizer and German partner BioNTech SE BNTX.O are the first drugmakers to release successful data from a large-scale clinical trial of a coronavirus vaccine. | Nov 9 (Reuters) - Futures for Canada's main stock index hit a three-month high on Monday after Pfizer Inc PFE.N said its experimental COVID-19 vaccine was more than 90% effective and as Joe Biden won the U.S. presidential election. U.S. drugmaker Pfizer and German partner BioNTech SE BNTX.O are the first drugmakers to release successful data from a large-scale clinical trial of a coronavirus vaccine. The companies said they have so far found no serious safety concerns and expect to seek U.S. authorization this month for emergency use of the vaccine. | Nov 9 (Reuters) - Futures for Canada's main stock index hit a three-month high on Monday after Pfizer Inc PFE.N said its experimental COVID-19 vaccine was more than 90% effective and as Joe Biden won the U.S. presidential election. U.S. drugmaker Pfizer and German partner BioNTech SE BNTX.O are the first drugmakers to release successful data from a large-scale clinical trial of a coronavirus vaccine. The companies said they have so far found no serious safety concerns and expect to seek U.S. authorization this month for emergency use of the vaccine. | Nov 9 (Reuters) - Futures for Canada's main stock index hit a three-month high on Monday after Pfizer Inc PFE.N said its experimental COVID-19 vaccine was more than 90% effective and as Joe Biden won the U.S. presidential election. U.S. drugmaker Pfizer and German partner BioNTech SE BNTX.O are the first drugmakers to release successful data from a large-scale clinical trial of a coronavirus vaccine. The companies said they have so far found no serious safety concerns and expect to seek U.S. authorization this month for emergency use of the vaccine. |
35084.0 | 2020-11-09 00:00:00 UTC | Air Canada posts third straight quarterly loss as virus hits sales | AC | https://www.nasdaq.com/articles/air-canada-posts-third-straight-quarterly-loss-as-virus-hits-sales-2020-11-09 | nan | nan | Adds detail on cash burn, third-quarter details
Nov 9 (Reuters) - Air Canada AC.TO posted its third straight quarterly loss on Monday, as the COVID-19 pandemic crippled air travel forcing Canada's biggest airline to cut the majority of its flights.
International air travel remains severely affected around the globe because of border restrictions by many countries.
As a result, carriers including Air Canada have cut thousands of jobs to save costs and sought government aid to keep operations afloat.
Air Canada said third-quarter net cash burn slowed to C$9 million per day on average, compared with about C$19 million per day in the second quarter.
The airline forecast cash burn of between C$12 million and C$14 million per day on average for the current quarter.
Air Canada reported a loss of C$685 million ($526 million), or C$2.31 per share, for the third quarter, compared with a profit of C$636 million, or C$2.35 per share, a year earlier.
Operating revenue plunged about 86% to C$757 million, but the decline slowed from 89% in the second quarter.
Analysts on average had expected Air Canada to lose C$2.60 per share in the third quarter on revenue $1.06 billion, according to IBES data from Refinitiv.
($1 = 1.3012 Canadian dollars)
(Reporting by Allison Lampert in Montreal and Ankit Ajmera in Bengaluru; Editing by Maju Samuel)
((Allison.Lampert@thomsonreuters.com; Ankit.Ajmera@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds detail on cash burn, third-quarter details Nov 9 (Reuters) - Air Canada AC.TO posted its third straight quarterly loss on Monday, as the COVID-19 pandemic crippled air travel forcing Canada's biggest airline to cut the majority of its flights. Analysts on average had expected Air Canada to lose C$2.60 per share in the third quarter on revenue $1.06 billion, according to IBES data from Refinitiv. As a result, carriers including Air Canada have cut thousands of jobs to save costs and sought government aid to keep operations afloat. | Adds detail on cash burn, third-quarter details Nov 9 (Reuters) - Air Canada AC.TO posted its third straight quarterly loss on Monday, as the COVID-19 pandemic crippled air travel forcing Canada's biggest airline to cut the majority of its flights. Analysts on average had expected Air Canada to lose C$2.60 per share in the third quarter on revenue $1.06 billion, according to IBES data from Refinitiv. Air Canada said third-quarter net cash burn slowed to C$9 million per day on average, compared with about C$19 million per day in the second quarter. | Adds detail on cash burn, third-quarter details Nov 9 (Reuters) - Air Canada AC.TO posted its third straight quarterly loss on Monday, as the COVID-19 pandemic crippled air travel forcing Canada's biggest airline to cut the majority of its flights. Analysts on average had expected Air Canada to lose C$2.60 per share in the third quarter on revenue $1.06 billion, according to IBES data from Refinitiv. Air Canada said third-quarter net cash burn slowed to C$9 million per day on average, compared with about C$19 million per day in the second quarter. | Adds detail on cash burn, third-quarter details Nov 9 (Reuters) - Air Canada AC.TO posted its third straight quarterly loss on Monday, as the COVID-19 pandemic crippled air travel forcing Canada's biggest airline to cut the majority of its flights. Analysts on average had expected Air Canada to lose C$2.60 per share in the third quarter on revenue $1.06 billion, according to IBES data from Refinitiv. Air Canada said third-quarter net cash burn slowed to C$9 million per day on average, compared with about C$19 million per day in the second quarter. |
35085.0 | 2020-11-06 00:00:00 UTC | EU extends deadline for decision on Air Canada-Transat deal | AC | https://www.nasdaq.com/articles/eu-extends-deadline-for-decision-on-air-canada-transat-deal-2020-11-06 | nan | nan | BRUSSELS, Nov 6 (Reuters) - EU antitrust regulators have extended their deadline for a decision on Air Canada's AC.TO proposed acquisition of Canadian tour operator Transat TRZ.TO by two weeks to Jan. 8.
The European Commission, which opened an investigation in May on concerns that the deal could push up prices and reduce choice for flights between Europe and Canada, said the extension was applied in agreement with the two companies.
Air Canada last month cut its offer price for Transat by nearly 75% to about C$188.7 million ($144.7 million) because of the COVID-19 impact on travel demand.
($1 = 1.3037 Canadian dollars)
(Reporting by Foo Yun Chee Editing by David Goodman)
((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | BRUSSELS, Nov 6 (Reuters) - EU antitrust regulators have extended their deadline for a decision on Air Canada's AC.TO proposed acquisition of Canadian tour operator Transat TRZ.TO by two weeks to Jan. 8. Air Canada last month cut its offer price for Transat by nearly 75% to about C$188.7 million ($144.7 million) because of the COVID-19 impact on travel demand. The European Commission, which opened an investigation in May on concerns that the deal could push up prices and reduce choice for flights between Europe and Canada, said the extension was applied in agreement with the two companies. | BRUSSELS, Nov 6 (Reuters) - EU antitrust regulators have extended their deadline for a decision on Air Canada's AC.TO proposed acquisition of Canadian tour operator Transat TRZ.TO by two weeks to Jan. 8. Air Canada last month cut its offer price for Transat by nearly 75% to about C$188.7 million ($144.7 million) because of the COVID-19 impact on travel demand. ($1 = 1.3037 Canadian dollars) (Reporting by Foo Yun Chee Editing by David Goodman) ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | BRUSSELS, Nov 6 (Reuters) - EU antitrust regulators have extended their deadline for a decision on Air Canada's AC.TO proposed acquisition of Canadian tour operator Transat TRZ.TO by two weeks to Jan. 8. Air Canada last month cut its offer price for Transat by nearly 75% to about C$188.7 million ($144.7 million) because of the COVID-19 impact on travel demand. ($1 = 1.3037 Canadian dollars) (Reporting by Foo Yun Chee Editing by David Goodman) ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | BRUSSELS, Nov 6 (Reuters) - EU antitrust regulators have extended their deadline for a decision on Air Canada's AC.TO proposed acquisition of Canadian tour operator Transat TRZ.TO by two weeks to Jan. 8. Air Canada last month cut its offer price for Transat by nearly 75% to about C$188.7 million ($144.7 million) because of the COVID-19 impact on travel demand. The European Commission, which opened an investigation in May on concerns that the deal could push up prices and reduce choice for flights between Europe and Canada, said the extension was applied in agreement with the two companies. |
35086.0 | 2020-11-05 00:00:00 UTC | EXCLUSIVE-Canada eyeing loans for airlines that are 'running out of runway' -sources | AC | https://www.nasdaq.com/articles/exclusive-canada-eyeing-loans-for-airlines-that-are-running-out-of-runway-sources-2020-11 | nan | nan | By David Ljunggren and Steve Scherer
OTTAWA, Nov 5 (Reuters) - Canada is finally close to an aid package for airlines that will likely offer low-interest loans to carriers versus taking outright stakes, three sources say, eight months after the COVID-19 pandemic decimated air travel.
"We're running out of runway on this," said a government source, citing concerns about the viability of both airlines and airports. The source requested anonymity given the sensitivity of the situation.
Several countries, including the United States and Australia, have offered billions in direct emergency support to their airlines. But Canada - the world's second largest country by area and one heavily dependent on airline travel to connect remote regions - has not.
Although Air Canada AC.TO and WestJet, the two main carriers, and transport unions have been pleading for help for months as passenger demand cratered, Canada's finance ministry initially resisted the idea of providing specific sectoral aid, said two of the sources.
Under pressure from some key ministers, Finance Minister Chrystia Freeland, who took over in August, is now looking at how to specifically help the airlines because it became clear the airline sector would not bounce back in the fall, the first source said.
Air Canada and WestJet have already cut many routes, especially to smaller airports.
"Discussions are ongoing, they're positive," said the first source, adding that the focus now is on "making sure the sector and those regional routes are protected and the airports remain operational."
One major option for helping the airlines is low-interest loans, but the sources could offer no details on amounts or conditions. This idea is favored by the unions, which want a C$7 billion, 10-year low-interest loan.
The other possibility is the government taking a stake in airlines, but this is unlikely, two sources said.
Air Canada has already laid off around 20,000 workers, about half its workforce. According to the Canadian Airports Council, Canadian passenger traffic from April through August was down 92% from the same period in 2019.
An aid package would involve major financial commitments undoubtedly prompt appeals for similar help from other sectors.
"We absolutely understand that it's a frustrating and difficult time for the workers and the airline industry," a third government source said. "We obviously have to be very careful to get it right for workers in the sector and invest responsibly for Canadians."
Ottawa's initial response was to set up emergency programs to help all firms and individuals.
Airlines have used C$1.3 billion in federal subsidies to help pay wages to employees during the pandemic. The government has also provided C$192 million in support to northern air carriers and waived ground lease rents until December 2020 for 21, a move worth C$330 million.
"(We are) fully seized with the issue of how hard the air sector has been hit because of the pandemic. We are working closely with airlines and other partners in the air sector," said a spokeswoman for Finance Minister Chrystia Freeland.
Jerry Dias, head of the private-sector Unifor union, which represents more than 16,000 members of the airline sector, urged Ottawa to move quickly.
"This isn't rocket science ... you can't have a strong recovery without strong airlines," he said by phone.
(Additional reporting by Allison Lampert in Montreal; Editing by Steve Orlofsky)
((steve.scherer@thomsonreuters.com; +1-647-480-7889;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By David Ljunggren and Steve Scherer OTTAWA, Nov 5 (Reuters) - Canada is finally close to an aid package for airlines that will likely offer low-interest loans to carriers versus taking outright stakes, three sources say, eight months after the COVID-19 pandemic decimated air travel. Although Air Canada AC.TO and WestJet, the two main carriers, and transport unions have been pleading for help for months as passenger demand cratered, Canada's finance ministry initially resisted the idea of providing specific sectoral aid, said two of the sources. Under pressure from some key ministers, Finance Minister Chrystia Freeland, who took over in August, is now looking at how to specifically help the airlines because it became clear the airline sector would not bounce back in the fall, the first source said. | By David Ljunggren and Steve Scherer OTTAWA, Nov 5 (Reuters) - Canada is finally close to an aid package for airlines that will likely offer low-interest loans to carriers versus taking outright stakes, three sources say, eight months after the COVID-19 pandemic decimated air travel. Although Air Canada AC.TO and WestJet, the two main carriers, and transport unions have been pleading for help for months as passenger demand cratered, Canada's finance ministry initially resisted the idea of providing specific sectoral aid, said two of the sources. Under pressure from some key ministers, Finance Minister Chrystia Freeland, who took over in August, is now looking at how to specifically help the airlines because it became clear the airline sector would not bounce back in the fall, the first source said. | By David Ljunggren and Steve Scherer OTTAWA, Nov 5 (Reuters) - Canada is finally close to an aid package for airlines that will likely offer low-interest loans to carriers versus taking outright stakes, three sources say, eight months after the COVID-19 pandemic decimated air travel. Although Air Canada AC.TO and WestJet, the two main carriers, and transport unions have been pleading for help for months as passenger demand cratered, Canada's finance ministry initially resisted the idea of providing specific sectoral aid, said two of the sources. Under pressure from some key ministers, Finance Minister Chrystia Freeland, who took over in August, is now looking at how to specifically help the airlines because it became clear the airline sector would not bounce back in the fall, the first source said. | Although Air Canada AC.TO and WestJet, the two main carriers, and transport unions have been pleading for help for months as passenger demand cratered, Canada's finance ministry initially resisted the idea of providing specific sectoral aid, said two of the sources. By David Ljunggren and Steve Scherer OTTAWA, Nov 5 (Reuters) - Canada is finally close to an aid package for airlines that will likely offer low-interest loans to carriers versus taking outright stakes, three sources say, eight months after the COVID-19 pandemic decimated air travel. Under pressure from some key ministers, Finance Minister Chrystia Freeland, who took over in August, is now looking at how to specifically help the airlines because it became clear the airline sector would not bounce back in the fall, the first source said. |
35087.0 | 2020-10-26 00:00:00 UTC | Spirit cuts buyout price for Bombardier aerostructures unit as COVID-19 hits industry | AC | https://www.nasdaq.com/articles/spirit-cuts-buyout-price-for-bombardier-aerostructures-unit-as-covid-19-hits-industry-2020 | nan | nan | Adds stock price, context
Oct 26 (Reuters) - U.S. aircraft parts maker Spirit AeroSystems SPR.N said on Monday it reached a deal with Bombardier Inc BBDb.TO to cut the purchase price of the Canadian planemaker's aerostructures unit by 45% to $275 million as COVID-19 weighed on the aerospace sector.
But under the revised deal, Spirit would assume liabilities valued at $824 million, the company's statement said, compared with $700 million in the original 2019 agreement.
The certainty around the deal, expected to close on Oct. 30, sent Bombardier shares 1.6 % shares higher in morning trading in Toronto.
Spirit caused jitters among Bombardier investors in late September when it raised uncertainty over the deal's closing.
The deal includes a facility in Belfast which produces wings for Airbus SE's AIR.PA A220 jet, which is considered politically sensitive as the largest high-tech manufacturer in Northern Ireland.
Montreal-based Bombardier is shedding assets amid broader plans to become a pure-play business-jet maker, and pay down some of its $9.3 billion in debt.
In September, French train maker Alstom SA ALSO.PA lowered its offer to acquire Bombardier's rail business by $350 million, in a deal to create the world's second-largest rail company by next year.
Bombardier's restructuring comes amid broader turmoil in the aerospace sector because of the pandemic, which has grounded flights across the globe, weakened valuations and some companies' appetite for deals.
Earlier this month, Air Canada AC.TO slashed its price to buy Canadian tour operator Transat A.T. Inc TRZ.TO by nearly 75% as the coronavirus pandemic weighs on travel demand.
In April, aircraft parts suppliers Hexcel Corp HXL.N and Woodward Inc WWD.O abandoned their planned $6.4 billion all-stock merger.
(Reporting by Allison Lampert in Montreal and Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli and Bernadette Baum)
((ankit.ajmera@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The deal includes a facility in Belfast which produces wings for Airbus SE's AIR.PA A220 jet, which is considered politically sensitive as the largest high-tech manufacturer in Northern Ireland. Bombardier's restructuring comes amid broader turmoil in the aerospace sector because of the pandemic, which has grounded flights across the globe, weakened valuations and some companies' appetite for deals. Earlier this month, Air Canada AC.TO slashed its price to buy Canadian tour operator Transat A.T. Inc TRZ.TO by nearly 75% as the coronavirus pandemic weighs on travel demand. | Adds stock price, context Oct 26 (Reuters) - U.S. aircraft parts maker Spirit AeroSystems SPR.N said on Monday it reached a deal with Bombardier Inc BBDb.TO to cut the purchase price of the Canadian planemaker's aerostructures unit by 45% to $275 million as COVID-19 weighed on the aerospace sector. Bombardier's restructuring comes amid broader turmoil in the aerospace sector because of the pandemic, which has grounded flights across the globe, weakened valuations and some companies' appetite for deals. The deal includes a facility in Belfast which produces wings for Airbus SE's AIR.PA A220 jet, which is considered politically sensitive as the largest high-tech manufacturer in Northern Ireland. | Adds stock price, context Oct 26 (Reuters) - U.S. aircraft parts maker Spirit AeroSystems SPR.N said on Monday it reached a deal with Bombardier Inc BBDb.TO to cut the purchase price of the Canadian planemaker's aerostructures unit by 45% to $275 million as COVID-19 weighed on the aerospace sector. In September, French train maker Alstom SA ALSO.PA lowered its offer to acquire Bombardier's rail business by $350 million, in a deal to create the world's second-largest rail company by next year. Bombardier's restructuring comes amid broader turmoil in the aerospace sector because of the pandemic, which has grounded flights across the globe, weakened valuations and some companies' appetite for deals. | Adds stock price, context Oct 26 (Reuters) - U.S. aircraft parts maker Spirit AeroSystems SPR.N said on Monday it reached a deal with Bombardier Inc BBDb.TO to cut the purchase price of the Canadian planemaker's aerostructures unit by 45% to $275 million as COVID-19 weighed on the aerospace sector. The deal includes a facility in Belfast which produces wings for Airbus SE's AIR.PA A220 jet, which is considered politically sensitive as the largest high-tech manufacturer in Northern Ireland. In September, French train maker Alstom SA ALSO.PA lowered its offer to acquire Bombardier's rail business by $350 million, in a deal to create the world's second-largest rail company by next year. |
35088.0 | 2020-10-23 00:00:00 UTC | U.S. tentatively approves Delta, WestJet alliance | AC | https://www.nasdaq.com/articles/u.s.-tentatively-approves-delta-westjet-alliance-2020-10-23-0 | nan | nan | By David Shepardson and Allison Lampert
WASHINGTON/MONTREAL, Oct 23 (Reuters) - The U.S. Transportation Department said on Friday it had tentatively approved a proposed alliance agreement between Delta Air Lines DAL.N and Canada's WestJet that is expected to expand travel options between the United States and Canada.
The department said as part of its tentative antitrust immunity approval it would require the carriers to remove Swoop, an ultra low-cost carrier affiliate of WestJet, from the alliance, and divest 16 takeoff and landing slots at New York's LaGuardia Airport.
The department also proposes to require WestJet to provide interline access to select carriers flying to Canada, and to review the proposed alliance in five years. Interline agreements allow consumers to fly to destinations using both airlines.
The Delta-WestJet joint venture would have a combined 27%share of scheduled air carrier transborder capacity, while the dominant carrier, Air Canada AC.TO, would have 45%.
WestJet, which is owned by private equity firm Onex Corp ONEX.TO, welcomed the tentative approval, saying the two carriers are reviewing the order "and will respond."
The carriers said the proposed alliance "would optimize aircraft utilization, enhance schedules, and lower costs."
Canada, with 38 million people, is the second-largest U.S. international passenger air market after Mexico, with Toronto flights accounting for over 50% of transborder air travel demand.
U.S.-Canada transborder flight capacity has grown 15% over the last five years to 39 million seats annually.
The department said competition is not as healthy for U.S.-Canada flights versus transborder U.S. flights to Mexico, noting comparable U.S.-Canadian flight fares are 12% higher.
Air carriers had urged slot divestitures at New York's LaGuardia, noting American Airlines, Delta and United Air Lines control 83% of all slots, with Delta controlling 45% of flights.
New York-Toronto flights account for 6% of all U.S.-Canadian flights and the route is the second largest U.S. international air travel market.
(Reporting by David Shepardson in Washington and Allison Lampert in Montreal; Editing by Chris Reese and Richard Chang)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The department also proposes to require WestJet to provide interline access to select carriers flying to Canada, and to review the proposed alliance in five years. The Delta-WestJet joint venture would have a combined 27%share of scheduled air carrier transborder capacity, while the dominant carrier, Air Canada AC.TO, would have 45%. Canada, with 38 million people, is the second-largest U.S. international passenger air market after Mexico, with Toronto flights accounting for over 50% of transborder air travel demand. | The Delta-WestJet joint venture would have a combined 27%share of scheduled air carrier transborder capacity, while the dominant carrier, Air Canada AC.TO, would have 45%. The department also proposes to require WestJet to provide interline access to select carriers flying to Canada, and to review the proposed alliance in five years. Canada, with 38 million people, is the second-largest U.S. international passenger air market after Mexico, with Toronto flights accounting for over 50% of transborder air travel demand. | The Delta-WestJet joint venture would have a combined 27%share of scheduled air carrier transborder capacity, while the dominant carrier, Air Canada AC.TO, would have 45%. The department also proposes to require WestJet to provide interline access to select carriers flying to Canada, and to review the proposed alliance in five years. Canada, with 38 million people, is the second-largest U.S. international passenger air market after Mexico, with Toronto flights accounting for over 50% of transborder air travel demand. | The department also proposes to require WestJet to provide interline access to select carriers flying to Canada, and to review the proposed alliance in five years. Canada, with 38 million people, is the second-largest U.S. international passenger air market after Mexico, with Toronto flights accounting for over 50% of transborder air travel demand. The Delta-WestJet joint venture would have a combined 27%share of scheduled air carrier transborder capacity, while the dominant carrier, Air Canada AC.TO, would have 45%. |
35089.0 | 2020-10-23 00:00:00 UTC | CANADA STOCKS-TSX gains on upbeat wholesale estimates, Corus Entertainment boost | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-gains-on-upbeat-wholesale-estimates-corus-entertainment-boost-2020-10-23 | nan | nan | Oct 23 (Reuters) - Canada's main stock index rose on Friday, helped by encouraging estimates of domestic wholesale data and gains in Corus Entertainment Inc CJRb.TO after multiple brokerages went bullish on the stock following a strong quarterly result.
* At 9:36 a.m. ET (1336 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 30.1 points, or 0.18%, at 16,309.46.
* The nation's wholesale sales in September most likely increased by 0.4% after rising 0.3% in August, Statscan said in a flash estimate.
* Media company Corus Entertainment Inc CJRb.TO was the largest percentage gainer on the index, jumping 9.5% after multiple brokerages raised their price targets on its stock following upbeat quarterly results.
* Canfor Corp CFP.TO was the next big gainer, rising 3.7% after the company posted third-quarter earnings above analysts' estimates.
* The energy sector .SPTTEN shed its initial gains and dropped 0.2%, even as U.S. crude CLc1 prices ticked up 0.2% a barrel and Brent crude LCOc1 added 0.1%. O/R
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.6% even though gold futures GCc1 rose 0.3% to $1,907.4 an ounce. GOL/
* On the TSX, 139 issues were higher, while 78 issues declined for a 1.78-to-1 ratio favouring gainers, with 9.93 million shares traded.
* Blackberry Ltd fell 2.1%, the most on the TSX, and the second-biggest decliner was Lundin Gold Inc , down 2.1%.
* The most heavily-traded shares by volume were Echelon Financial Holdings Inc , Bombardier Inc , and Air Canada .
* The TSX posted three new 52-week highs and no new lows.
* Across all Canadian issues there were eight new 52-week highs and two new lows, with a total volume of 19.02 million shares.
(Reporting by Amal S in Bengaluru; Editing by Ramakrishnan M.)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Blackberry Ltd fell 2.1%, the most on the TSX, and the second-biggest decliner was Lundin Gold Inc , down 2.1%. * Across all Canadian issues there were eight new 52-week highs and two new lows, with a total volume of 19.02 million shares. * Media company Corus Entertainment Inc CJRb.TO was the largest percentage gainer on the index, jumping 9.5% after multiple brokerages raised their price targets on its stock following upbeat quarterly results. | * Blackberry Ltd fell 2.1%, the most on the TSX, and the second-biggest decliner was Lundin Gold Inc , down 2.1%. * Across all Canadian issues there were eight new 52-week highs and two new lows, with a total volume of 19.02 million shares. Oct 23 (Reuters) - Canada's main stock index rose on Friday, helped by encouraging estimates of domestic wholesale data and gains in Corus Entertainment Inc CJRb.TO after multiple brokerages went bullish on the stock following a strong quarterly result. | * Blackberry Ltd fell 2.1%, the most on the TSX, and the second-biggest decliner was Lundin Gold Inc , down 2.1%. * Across all Canadian issues there were eight new 52-week highs and two new lows, with a total volume of 19.02 million shares. Oct 23 (Reuters) - Canada's main stock index rose on Friday, helped by encouraging estimates of domestic wholesale data and gains in Corus Entertainment Inc CJRb.TO after multiple brokerages went bullish on the stock following a strong quarterly result. | * Across all Canadian issues there were eight new 52-week highs and two new lows, with a total volume of 19.02 million shares. * Blackberry Ltd fell 2.1%, the most on the TSX, and the second-biggest decliner was Lundin Gold Inc , down 2.1%. Oct 23 (Reuters) - Canada's main stock index rose on Friday, helped by encouraging estimates of domestic wholesale data and gains in Corus Entertainment Inc CJRb.TO after multiple brokerages went bullish on the stock following a strong quarterly result. |
35090.0 | 2020-10-22 00:00:00 UTC | CANADA STOCKS - TSX rises 0.3% to 16,279.36 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.3-to-16279.36-2020-10-22 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.30 percent to 16,279.36
* Leading the index were Rogers Communications Inc , up 11.6%, Seven Generations Energy Ltd VII.TO, up 9.1%, and Vermilion Energy Inc VET.TO, higher by 8%.
* Lagging shares were Enghouse Systems Ltd ENGH.TO, down 4.5%, Fortuna Silver Mines Inc FVI.TO, down 4.5%, and Silvercrest Metals Inc SIL.TO, lower by 4.3%.
* On the TSX 116 issues rose and 106 fell as a 1.1-to-1 ratio favored advancers. There were 4 new highs and no new lows, with total volume of 202.7 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Bank Of Nova Scotia BNS.TO.
* The TSX's energy group .SPTTEN rose 2.67 points, or 4.1%, while the financials sector .SPTTFS climbed 2.29 points, or 0.9%.
* West Texas Intermediate crude futures CLc1 rose 1.45%, or $0.58, to $40.61 a barrel. Brent crude LCOc1 rose 1.65%, or $0.69, to $42.42 O/R
* The TSX is off 4.6% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Bank Of Nova Scotia BNS.TO. * Lagging shares were Enghouse Systems Ltd ENGH.TO, down 4.5%, Fortuna Silver Mines Inc FVI.TO, down 4.5%, and Silvercrest Metals Inc SIL.TO, lower by 4.3%. * On the TSX 116 issues rose and 106 fell as a 1.1-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Bank Of Nova Scotia BNS.TO. * On the TSX 116 issues rose and 106 fell as a 1.1-to-1 ratio favored advancers. * The TSX's energy group .SPTTEN rose 2.67 points, or 4.1%, while the financials sector .SPTTFS climbed 2.29 points, or 0.9%. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Bank Of Nova Scotia BNS.TO. * The Toronto Stock Exchange's TSX rises 0.30 percent to 16,279.36 * Leading the index were Rogers Communications Inc , up 11.6%, Seven Generations Energy Ltd VII.TO, up 9.1%, and Vermilion Energy Inc VET.TO, higher by 8%. * The TSX's energy group .SPTTEN rose 2.67 points, or 4.1%, while the financials sector .SPTTFS climbed 2.29 points, or 0.9%. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Bank Of Nova Scotia BNS.TO. * The Toronto Stock Exchange's TSX rises 0.30 percent to 16,279.36 * Leading the index were Rogers Communications Inc , up 11.6%, Seven Generations Energy Ltd VII.TO, up 9.1%, and Vermilion Energy Inc VET.TO, higher by 8%. * Lagging shares were Enghouse Systems Ltd ENGH.TO, down 4.5%, Fortuna Silver Mines Inc FVI.TO, down 4.5%, and Silvercrest Metals Inc SIL.TO, lower by 4.3%. |
35091.0 | 2020-10-21 00:00:00 UTC | Iberdrola secures 98.25% stake in Australian Infigen | AC | https://www.nasdaq.com/articles/iberdrola-secures-98.25-stake-in-australian-infigen-2020-10-21 | nan | nan | Oct 21 (Reuters) - Spain's Iberdrola IBE.MC said on Wednesday it had secured a 98.25% stake in Australian wind and solar firm Infigen IFN.AX share capital through a public takeover offer.
The announcement brings to an end the months-long bidding war for the control of the Australian firm.
Philippine conglomerate Ayala AC.PS was the first bidder for the renewable energy company back at the beginning of June in an offer that valued the company at about A$777 million ($551.98 million).
Iberdrola replied and eventually offered A$893 million for Infigen.
Infigen's independent directors had urged minority investors to accept Iberdrola’s takeover offer a few days after the company had reported a steep profit decline and suspended dividends indefinitely.
($1 = 1.4077 Australian dollars)
(Reporting by Aida Pelaez-Fernandez; Editing by Inti Landauro and Alison Williams)
((Aida.Pelaez-Fernandez@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Infigen's independent directors had urged minority investors to accept Iberdrola’s takeover offer a few days after the company had reported a steep profit decline and suspended dividends indefinitely. Philippine conglomerate Ayala AC.PS was the first bidder for the renewable energy company back at the beginning of June in an offer that valued the company at about A$777 million ($551.98 million). Oct 21 (Reuters) - Spain's Iberdrola IBE.MC said on Wednesday it had secured a 98.25% stake in Australian wind and solar firm Infigen IFN.AX share capital through a public takeover offer. | Infigen's independent directors had urged minority investors to accept Iberdrola’s takeover offer a few days after the company had reported a steep profit decline and suspended dividends indefinitely. Philippine conglomerate Ayala AC.PS was the first bidder for the renewable energy company back at the beginning of June in an offer that valued the company at about A$777 million ($551.98 million). Oct 21 (Reuters) - Spain's Iberdrola IBE.MC said on Wednesday it had secured a 98.25% stake in Australian wind and solar firm Infigen IFN.AX share capital through a public takeover offer. | Philippine conglomerate Ayala AC.PS was the first bidder for the renewable energy company back at the beginning of June in an offer that valued the company at about A$777 million ($551.98 million). Infigen's independent directors had urged minority investors to accept Iberdrola’s takeover offer a few days after the company had reported a steep profit decline and suspended dividends indefinitely. Oct 21 (Reuters) - Spain's Iberdrola IBE.MC said on Wednesday it had secured a 98.25% stake in Australian wind and solar firm Infigen IFN.AX share capital through a public takeover offer. | Philippine conglomerate Ayala AC.PS was the first bidder for the renewable energy company back at the beginning of June in an offer that valued the company at about A$777 million ($551.98 million). Infigen's independent directors had urged minority investors to accept Iberdrola’s takeover offer a few days after the company had reported a steep profit decline and suspended dividends indefinitely. Oct 21 (Reuters) - Spain's Iberdrola IBE.MC said on Wednesday it had secured a 98.25% stake in Australian wind and solar firm Infigen IFN.AX share capital through a public takeover offer. |
35092.0 | 2020-10-20 00:00:00 UTC | Canada gov't working on possible aid for the travel sector - finance minister | AC | https://www.nasdaq.com/articles/canada-govt-working-on-possible-aid-for-the-travel-sector-finance-minister-2020-10-20 | nan | nan | OTTAWA, Oct 20 (Reuters) - The Canadian government is very aware of the challenges facing the travel sector during the coronavirus pandemic and is working on possible aid, Finance Minister Chrystia Freeland said on Tuesday.
Freeland told a news conference she had spoken to the heads of Canada's major airlines last week but did not give details. Carriers and travel industry executives have repeatedly urged Ottawa for assistance as passenger numbers slump.
(Reporting by David Ljunggren, Editing by Franklin Paul)
((david.ljunggren@tr.com; +1 647 480 7891;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Oct 20 (Reuters) - The Canadian government is very aware of the challenges facing the travel sector during the coronavirus pandemic and is working on possible aid, Finance Minister Chrystia Freeland said on Tuesday. Freeland told a news conference she had spoken to the heads of Canada's major airlines last week but did not give details. Carriers and travel industry executives have repeatedly urged Ottawa for assistance as passenger numbers slump. | OTTAWA, Oct 20 (Reuters) - The Canadian government is very aware of the challenges facing the travel sector during the coronavirus pandemic and is working on possible aid, Finance Minister Chrystia Freeland said on Tuesday. Freeland told a news conference she had spoken to the heads of Canada's major airlines last week but did not give details. (Reporting by David Ljunggren, Editing by Franklin Paul) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Oct 20 (Reuters) - The Canadian government is very aware of the challenges facing the travel sector during the coronavirus pandemic and is working on possible aid, Finance Minister Chrystia Freeland said on Tuesday. Freeland told a news conference she had spoken to the heads of Canada's major airlines last week but did not give details. (Reporting by David Ljunggren, Editing by Franklin Paul) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Oct 20 (Reuters) - The Canadian government is very aware of the challenges facing the travel sector during the coronavirus pandemic and is working on possible aid, Finance Minister Chrystia Freeland said on Tuesday. Freeland told a news conference she had spoken to the heads of Canada's major airlines last week but did not give details. Carriers and travel industry executives have repeatedly urged Ottawa for assistance as passenger numbers slump. |
35093.0 | 2020-10-20 00:00:00 UTC | CANADA STOCKS-TSX futures gain on firmer oil prices, U.S. stimulus hopes | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-gain-on-firmer-oil-prices-u.s.-stimulus-hopes-2020-10-20 | nan | nan | Oct 20 (Reuters) - Canada's main stock index futures rose on Tuesday as oil prices steadied, while optimism around a U.S. stimulus deal before the presidential election also lifted sentiment.
Brent crude LCOc1 futures rose 0.21%, while U.S. West Texas Intermediate (WTI) crude CLc1 futures gained 0.32%. O/R
December futures on the S&P/TSX index SXFc1 were up 0.74% at 7:00 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1% lower at 16,274.07 on Monday.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.64% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.75% and Nasdaq 100 e-mini futures NQc1 were up 0.78%.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Boyd Group Services Inc BYD.TO: National Bank of Canada cuts to "sector perform"
KP Tissue Inc KPT.TO: RBC cuts to "sector perform" from "outperform"
Air Canada AC.TO: RBC raises target price to C$23 from C$22
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1907; -0.04% GOL/
U.S. crude CLc1: $40.96; +0.32% O/R
Brent crude LCOc1: $42.71; +0.21% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Building permits: number for Sep: Expected 1.520 mln; Prior 1.476 mln
0830 Build permits: change mm for Sep: Prior -0.5%
0830 Housing starts number for Sep: Expected 1.457 mln; Prior 1.416 mln
0830 House starts mm: change for Sep: Prior -5.1%
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.32)
(Reporting by Amal S in Bengaluru; Editing by Ramakrishnan M.)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Boyd Group Services Inc BYD.TO: National Bank of Canada cuts to "sector perform" KP Tissue Inc KPT.TO: RBC cuts to "sector perform" from "outperform" Air Canada AC.TO: RBC raises target price to C$23 from C$22 COMMODITIES AT 7:00 a.m. Oct 20 (Reuters) - Canada's main stock index futures rose on Tuesday as oil prices steadied, while optimism around a U.S. stimulus deal before the presidential election also lifted sentiment. The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1% lower at 16,274.07 on Monday. | Boyd Group Services Inc BYD.TO: National Bank of Canada cuts to "sector perform" KP Tissue Inc KPT.TO: RBC cuts to "sector perform" from "outperform" Air Canada AC.TO: RBC raises target price to C$23 from C$22 COMMODITIES AT 7:00 a.m. 0830 Building permits: number for Sep: Expected 1.520 mln; Prior 1.476 mln 0830 Build permits: change mm for Sep: Prior -0.5% 0830 Housing starts number for Sep: Expected 1.457 mln; Prior 1.416 mln 0830 House starts mm: change for Sep: Prior -5.1% TSX market report .TO Canadian dollar and bonds report CAD/CA/ Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA Canadian markets directory CANADA | Boyd Group Services Inc BYD.TO: National Bank of Canada cuts to "sector perform" KP Tissue Inc KPT.TO: RBC cuts to "sector perform" from "outperform" Air Canada AC.TO: RBC raises target price to C$23 from C$22 COMMODITIES AT 7:00 a.m. Oct 20 (Reuters) - Canada's main stock index futures rose on Tuesday as oil prices steadied, while optimism around a U.S. stimulus deal before the presidential election also lifted sentiment. Brent crude LCOc1 futures rose 0.21%, while U.S. West Texas Intermediate (WTI) crude CLc1 futures gained 0.32%. | Boyd Group Services Inc BYD.TO: National Bank of Canada cuts to "sector perform" KP Tissue Inc KPT.TO: RBC cuts to "sector perform" from "outperform" Air Canada AC.TO: RBC raises target price to C$23 from C$22 COMMODITIES AT 7:00 a.m. Oct 20 (Reuters) - Canada's main stock index futures rose on Tuesday as oil prices steadied, while optimism around a U.S. stimulus deal before the presidential election also lifted sentiment. Brent crude LCOc1 futures rose 0.21%, while U.S. West Texas Intermediate (WTI) crude CLc1 futures gained 0.32%. |
35094.0 | 2020-10-16 00:00:00 UTC | Air Canada CEO to retire in February as carrier copes with COVID-19 | AC | https://www.nasdaq.com/articles/air-canada-ceo-to-retire-in-february-as-carrier-copes-with-covid-19-2020-10-16 | nan | nan | Adds context
Oct 16 (Reuters) - Air Canada'sAC.TO president and chief executive officer, Calin Rovinescu, will retire next February after 11 years in the top job, the company said on Friday, as the carrier grapples with historic turmoil in the airline industrytriggered by the coronavirus pandemic.
Deputy CEO and Chief Financial Officer Michael Rousseau will succeed Rovinescu upon his retirement, the airline said. ( | Adds context Oct 16 (Reuters) - Air Canada'sAC.TO president and chief executive officer, Calin Rovinescu, will retire next February after 11 years in the top job, the company said on Friday, as the carrier grapples with historic turmoil in the airline industrytriggered by the coronavirus pandemic. Deputy CEO and Chief Financial Officer Michael Rousseau will succeed Rovinescu upon his retirement, the airline said. ( | Adds context Oct 16 (Reuters) - Air Canada'sAC.TO president and chief executive officer, Calin Rovinescu, will retire next February after 11 years in the top job, the company said on Friday, as the carrier grapples with historic turmoil in the airline industrytriggered by the coronavirus pandemic. Deputy CEO and Chief Financial Officer Michael Rousseau will succeed Rovinescu upon his retirement, the airline said. ( | Adds context Oct 16 (Reuters) - Air Canada'sAC.TO president and chief executive officer, Calin Rovinescu, will retire next February after 11 years in the top job, the company said on Friday, as the carrier grapples with historic turmoil in the airline industrytriggered by the coronavirus pandemic. Deputy CEO and Chief Financial Officer Michael Rousseau will succeed Rovinescu upon his retirement, the airline said. ( | Adds context Oct 16 (Reuters) - Air Canada'sAC.TO president and chief executive officer, Calin Rovinescu, will retire next February after 11 years in the top job, the company said on Friday, as the carrier grapples with historic turmoil in the airline industrytriggered by the coronavirus pandemic. Deputy CEO and Chief Financial Officer Michael Rousseau will succeed Rovinescu upon his retirement, the airline said. ( |
35095.0 | 2020-10-16 00:00:00 UTC | Air Canada CEO Calin Rovinescu to retire early next year | AC | https://www.nasdaq.com/articles/air-canada-ceo-calin-rovinescu-to-retire-early-next-year-2020-10-16 | nan | nan | Oct 16 (Reuters) - Air Canada AC.TO said on Friday President and Chief Executive Officer Calin Rovinescu will retire on Feb. 15, 2021 after having served the company for almost 12 years.
Deputy CEO and Chief Financial Officer Michael Rousseau will succeed Rovinescu upon his retirement, the company said. (https://refini.tv/3k8aE5F)
(Reporting by Shreyasee Raj; Editing by Ramakrishnan M.)
((Shreyasee.Raj@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Oct 16 (Reuters) - Air Canada AC.TO said on Friday President and Chief Executive Officer Calin Rovinescu will retire on Feb. 15, 2021 after having served the company for almost 12 years. Deputy CEO and Chief Financial Officer Michael Rousseau will succeed Rovinescu upon his retirement, the company said. (https://refini.tv/3k8aE5F) (Reporting by Shreyasee Raj; Editing by Ramakrishnan M.) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Oct 16 (Reuters) - Air Canada AC.TO said on Friday President and Chief Executive Officer Calin Rovinescu will retire on Feb. 15, 2021 after having served the company for almost 12 years. Deputy CEO and Chief Financial Officer Michael Rousseau will succeed Rovinescu upon his retirement, the company said. (https://refini.tv/3k8aE5F) (Reporting by Shreyasee Raj; Editing by Ramakrishnan M.) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Oct 16 (Reuters) - Air Canada AC.TO said on Friday President and Chief Executive Officer Calin Rovinescu will retire on Feb. 15, 2021 after having served the company for almost 12 years. Deputy CEO and Chief Financial Officer Michael Rousseau will succeed Rovinescu upon his retirement, the company said. (https://refini.tv/3k8aE5F) (Reporting by Shreyasee Raj; Editing by Ramakrishnan M.) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Oct 16 (Reuters) - Air Canada AC.TO said on Friday President and Chief Executive Officer Calin Rovinescu will retire on Feb. 15, 2021 after having served the company for almost 12 years. Deputy CEO and Chief Financial Officer Michael Rousseau will succeed Rovinescu upon his retirement, the company said. (https://refini.tv/3k8aE5F) (Reporting by Shreyasee Raj; Editing by Ramakrishnan M.) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
35096.0 | 2020-10-14 00:00:00 UTC | CANADA STOCKS-TSX futures fall as oil slips on demand recovery concerns | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-fall-as-oil-slips-on-demand-recovery-concerns-2020-10-14 | nan | nan | Oct 14 (Reuters) - Futures for Canada's main stock index fell on Wednesday, dragged by weakness in oil prices, as rising coronavirus cases around the globe stoked fuel-demand recovery concerns.
Brent crude LCOc1 futures fell 0.49%, while U.S. West Texas Intermediate (WTI) crude CLc1 futures shed 0.7%.
December futures on the S&P/TSX index SXFc1 were down 0.1% at 7:00 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.31% lower at 16,510.83 on Tuesday.
Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.06% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 slipped 0.05% and Nasdaq 100 e-mini futures NQc1 shed 0.17%.
TOP STORIES TOP/CAN
The biggest shareholder in Air Canada AC.TO and Transat A.T. Inc TRZ.TO said on Tuesday that AC's revised offer for the Canadian tour operator was "a very reasonable one", given the turmoil in the aviation industry.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Centerra Gold Inc CG.TO: Credit Suisse cuts target price to C$17 from C$19
Fury Gold Mines Ltd FURY.TO: PI Financial raises to "buy" from "neutral"
Trisura Group TSU.TO: CIBC starts coverage with "outperform" rating and price target of C$110
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1897.4; +0.38% GOL/
US crude CLc1: $39.92; -0.7% O/R
Brent crude LCOc1: $42.24; -0.49% O/R
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 PPI final demand yy for Sep: Expected 0.2%; Prior -0.2%
0830 PPI final demand mm for Sep: Expected 0.2%; Prior 0.3%
0830 PPI exfood/energy yy for Sep: Expected 0.9%; Prior 0.6%
0830 PPI exfood/energy mm for Sep: Expected 0.2%; Prior 0.4%
0830 PPI ex food/energy/transport yy for Sep: Prior 0.3%
0830 PPI ex food/energy/transport mm for Sep: Prior 0.3%
1200 Refinitiv IPSOS PCSI for Oct: Prior 50.62
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.31)
(Reporting by Amal S; Editing by Vinay Dwivedi)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The biggest shareholder in Air Canada AC.TO and Transat A.T. Inc TRZ.TO said on Tuesday that AC's revised offer for the Canadian tour operator was "a very reasonable one", given the turmoil in the aviation industry. Oct 14 (Reuters) - Futures for Canada's main stock index fell on Wednesday, dragged by weakness in oil prices, as rising coronavirus cases around the globe stoked fuel-demand recovery concerns. Centerra Gold Inc CG.TO: Credit Suisse cuts target price to C$17 from C$19 Fury Gold Mines Ltd FURY.TO: PI Financial raises to "buy" from "neutral" Trisura Group TSU.TO: CIBC starts coverage with "outperform" rating and price target of C$110 COMMODITIES AT 7:00 a.m. | The biggest shareholder in Air Canada AC.TO and Transat A.T. Inc TRZ.TO said on Tuesday that AC's revised offer for the Canadian tour operator was "a very reasonable one", given the turmoil in the aviation industry. Oct 14 (Reuters) - Futures for Canada's main stock index fell on Wednesday, dragged by weakness in oil prices, as rising coronavirus cases around the globe stoked fuel-demand recovery concerns. 0830 PPI final demand yy for Sep: Expected 0.2%; Prior -0.2% 0830 PPI final demand mm for Sep: Expected 0.2%; Prior 0.3% 0830 PPI exfood/energy yy for Sep: Expected 0.9%; Prior 0.6% 0830 PPI exfood/energy mm for Sep: Expected 0.2%; Prior 0.4% 0830 PPI ex food/energy/transport yy for Sep: Prior 0.3% 0830 PPI ex food/energy/transport mm for Sep: Prior 0.3% 1200 Refinitiv IPSOS PCSI for Oct: Prior 50.62 | The biggest shareholder in Air Canada AC.TO and Transat A.T. Inc TRZ.TO said on Tuesday that AC's revised offer for the Canadian tour operator was "a very reasonable one", given the turmoil in the aviation industry. Oct 14 (Reuters) - Futures for Canada's main stock index fell on Wednesday, dragged by weakness in oil prices, as rising coronavirus cases around the globe stoked fuel-demand recovery concerns. Brent crude LCOc1 futures fell 0.49%, while U.S. West Texas Intermediate (WTI) crude CLc1 futures shed 0.7%. | The biggest shareholder in Air Canada AC.TO and Transat A.T. Inc TRZ.TO said on Tuesday that AC's revised offer for the Canadian tour operator was "a very reasonable one", given the turmoil in the aviation industry. December futures on the S&P/TSX index SXFc1 were down 0.1% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 slipped 0.05% and Nasdaq 100 e-mini futures NQc1 shed 0.17%. |
35097.0 | 2020-10-13 00:00:00 UTC | Top shareholder in Air Canada, Transat calls revised buyout offer 'reasonable' | AC | https://www.nasdaq.com/articles/top-shareholder-in-air-canada-transat-calls-revised-buyout-offer-reasonable-2020-10-13 | nan | nan | By Allison Lampert
MONTREAL, Oct 13 (Reuters) - The biggest shareholder in Air Canada AC.TO and Transat A.T. Inc TRZ.TO said on Tuesday that AC's revised offer for the Canadian tour operator was "a very reasonable one," given the turmoil in the aviation industry.
Peter Letko, a co-founder of investment manager Letko Brosseau, called the deal "good news" but said the firm would wait to see if a rival bidder emerged before committing to the Air Canada offer.
On Saturday, Air Canada, Canada's biggest airline, cut the deal value to buy Transat by nearly 75% to about C$188.7 million ($143.9 million), down from C$720 million, as COVID-19 weighs on travel demand.
Transat shares rose as much as 30% as Air Canada's revised offer raised optimism the deal, once shaken by the COVID-19 pandemic, could be completed.
With the pandemic grounding flights globally, Air Canada had faced shareholder pressure to renegotiate the deal, which is still pending approval from European and Canadian regulators.
"The price is a long way from what we agreed ... but it’s clear that the industry has gone through a period where it’s really suffered," Letko told Reuters in a phone interview. "If nothing transpires, I think the Air Canada offer is a very reasonable one."
Letko Brosseau owns an 8.69% stake in Air Canada and almost 15% of Transat, according to Refinitiv data.
As part of the revised deal, the purchase price could be paid to Transat shareholders in cash or shares of Air Canada, which Letko called interesting.
Transat shares closed up 26.1% at C$4.83, compared with Air Canada's revised offer price of C$5. Air Canada shares fell 1.93%.
Analysts said the revised price would give Air Canada greater motivation to conclude the deal, which was believed to be on thin ice.
"COVID-19 has resulted in significant uncertainty for the airline industry, which made us doubt whether the combination of TRZ and AC would even occur," Desjardins analyst Benoit Poirier said in a note to clients on Tuesday.
"We believe the revised agreement offers incentives for AC to obtain regulatory approvals for the transaction."
The deal requires approval by Transat shareholders, who are set to vote in early December.
One portfolio manager who holds Air Canada stock said he believed Transat shareholders would have little option other than to approve it.
"This is the best that they are going to get in this environment."
(Reporting by Allison Lampert in Montreal; Editing by Chris Reese and Peter Cooney)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Allison Lampert MONTREAL, Oct 13 (Reuters) - The biggest shareholder in Air Canada AC.TO and Transat A.T. Inc TRZ.TO said on Tuesday that AC's revised offer for the Canadian tour operator was "a very reasonable one," given the turmoil in the aviation industry. With the pandemic grounding flights globally, Air Canada had faced shareholder pressure to renegotiate the deal, which is still pending approval from European and Canadian regulators. "COVID-19 has resulted in significant uncertainty for the airline industry, which made us doubt whether the combination of TRZ and AC would even occur," Desjardins analyst Benoit Poirier said in a note to clients on Tuesday. | By Allison Lampert MONTREAL, Oct 13 (Reuters) - The biggest shareholder in Air Canada AC.TO and Transat A.T. Inc TRZ.TO said on Tuesday that AC's revised offer for the Canadian tour operator was "a very reasonable one," given the turmoil in the aviation industry. With the pandemic grounding flights globally, Air Canada had faced shareholder pressure to renegotiate the deal, which is still pending approval from European and Canadian regulators. Letko Brosseau owns an 8.69% stake in Air Canada and almost 15% of Transat, according to Refinitiv data. | By Allison Lampert MONTREAL, Oct 13 (Reuters) - The biggest shareholder in Air Canada AC.TO and Transat A.T. Inc TRZ.TO said on Tuesday that AC's revised offer for the Canadian tour operator was "a very reasonable one," given the turmoil in the aviation industry. With the pandemic grounding flights globally, Air Canada had faced shareholder pressure to renegotiate the deal, which is still pending approval from European and Canadian regulators. Letko Brosseau owns an 8.69% stake in Air Canada and almost 15% of Transat, according to Refinitiv data. | By Allison Lampert MONTREAL, Oct 13 (Reuters) - The biggest shareholder in Air Canada AC.TO and Transat A.T. Inc TRZ.TO said on Tuesday that AC's revised offer for the Canadian tour operator was "a very reasonable one," given the turmoil in the aviation industry. With the pandemic grounding flights globally, Air Canada had faced shareholder pressure to renegotiate the deal, which is still pending approval from European and Canadian regulators. Letko Brosseau owns an 8.69% stake in Air Canada and almost 15% of Transat, according to Refinitiv data. |
35098.0 | 2020-10-13 00:00:00 UTC | Transat shares climb nearly 30% on Air Canada's revised buyout deal | AC | https://www.nasdaq.com/articles/transat-shares-climb-nearly-30-on-air-canadas-revised-buyout-deal-2020-10-13 | nan | nan | By Allison Lampert
MONTREAL, Oct 13 (Reuters) - Shares in Canadian tour operator Transat A.T. Inc TRZ.TO jumped as much as 30% on Tuesday after Air Canada's AC.TO revised offer raised optimism the deal once shaken by the COVID-19 pandemic could be completed.
On Saturday, Air Canada cut the deal value to buy Transat by nearly 75% to about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand.
With the pandemic grounding flights globall | By Allison Lampert MONTREAL, Oct 13 (Reuters) - Shares in Canadian tour operator Transat A.T. Inc TRZ.TO jumped as much as 30% on Tuesday after Air Canada's AC.TO revised offer raised optimism the deal once shaken by the COVID-19 pandemic could be completed. On Saturday, Air Canada cut the deal value to buy Transat by nearly 75% to about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand. With the pandemic grounding flights globall | By Allison Lampert MONTREAL, Oct 13 (Reuters) - Shares in Canadian tour operator Transat A.T. Inc TRZ.TO jumped as much as 30% on Tuesday after Air Canada's AC.TO revised offer raised optimism the deal once shaken by the COVID-19 pandemic could be completed. On Saturday, Air Canada cut the deal value to buy Transat by nearly 75% to about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand. With the pandemic grounding flights globall | By Allison Lampert MONTREAL, Oct 13 (Reuters) - Shares in Canadian tour operator Transat A.T. Inc TRZ.TO jumped as much as 30% on Tuesday after Air Canada's AC.TO revised offer raised optimism the deal once shaken by the COVID-19 pandemic could be completed. On Saturday, Air Canada cut the deal value to buy Transat by nearly 75% to about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand. With the pandemic grounding flights globall | By Allison Lampert MONTREAL, Oct 13 (Reuters) - Shares in Canadian tour operator Transat A.T. Inc TRZ.TO jumped as much as 30% on Tuesday after Air Canada's AC.TO revised offer raised optimism the deal once shaken by the COVID-19 pandemic could be completed. On Saturday, Air Canada cut the deal value to buy Transat by nearly 75% to about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand. With the pandemic grounding flights globall |
35099.0 | 2020-10-10 00:00:00 UTC | Air Canada slashes Transat buyout price by nearly 75% as COVID-19 hits traffic | AC | https://www.nasdaq.com/articles/air-canada-slashes-transat-buyout-price-by-nearly-75-as-covid-19-hits-traffic-2020-10-10 | nan | nan | Adds context
Oct 10 (Reuters) - Air Canada AC.TO has slashed its price to buy Canadian tour operator Transat A.T. Inc TRZ.TO, with the deal now worth about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand, the companies said in a statement on Saturday.
The country's largest carrier had secured Transat shareholders' approval for the deal last year with an C$18.00 a share bid, to bolster its then thriving leisure business.
But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal which is still pending approval from European and Canadian regulators, Reuters reported in May.
Montreal-based Air Canada, like many of its global peers, has slashed flights, suspended financial forecasts and sought government aid as the industry deals with its worst slump.
Companies have been cancelling deals amid COVID-19 uncertainty, with aircraft parts suppliers Hexcel Corp HXL.N and Woodward Inc WWD.Oabandoning their planned $6.4 billion all-stock merger in April.
Under revised terms of the deal, Air Canada said it will acquire all shares of Transat for C$5 per share, representing a premium of about 30.5% to Transat's last close on Friday.
"Air Canada intends to complete its acquisition of Transat, at a reduced price and on modified terms," said Calin Rovinescu, the carrier's chief executive officer, in a statement.
"Consummating the initial deal at $18.00 was not an option that was viable given the full set of circumstances the Corporation is facing," Jean-Yves Leblanc, chair of the special committee of the board of Transat said in a statement.
As part of the deal, Transat has also secured a new C$250 million short-term loan facility, Transat said.
($1 = 1.3117 Canadian dollars)
(Reporting by Bhargav Acharya in Bengaluru and Allison Lampert in Montreal; Editing by Marguerita Choy)
((Bhargav.Acharya@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal which is still pending approval from European and Canadian regulators, Reuters reported in May. "Air Canada intends to complete its acquisition of Transat, at a reduced price and on modified terms," said Calin Rovinescu, the carrier's chief executive officer, in a statement. "Consummating the initial deal at $18.00 was not an option that was viable given the full set of circumstances the Corporation is facing," Jean-Yves Leblanc, chair of the special committee of the board of Transat said in a statement. | Adds context Oct 10 (Reuters) - Air Canada AC.TO has slashed its price to buy Canadian tour operator Transat A.T. Inc TRZ.TO, with the deal now worth about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand, the companies said in a statement on Saturday. But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal which is still pending approval from European and Canadian regulators, Reuters reported in May. Under revised terms of the deal, Air Canada said it will acquire all shares of Transat for C$5 per share, representing a premium of about 30.5% to Transat's last close on Friday. | Adds context Oct 10 (Reuters) - Air Canada AC.TO has slashed its price to buy Canadian tour operator Transat A.T. Inc TRZ.TO, with the deal now worth about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand, the companies said in a statement on Saturday. But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal which is still pending approval from European and Canadian regulators, Reuters reported in May. Under revised terms of the deal, Air Canada said it will acquire all shares of Transat for C$5 per share, representing a premium of about 30.5% to Transat's last close on Friday. | Adds context Oct 10 (Reuters) - Air Canada AC.TO has slashed its price to buy Canadian tour operator Transat A.T. Inc TRZ.TO, with the deal now worth about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand, the companies said in a statement on Saturday. But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal which is still pending approval from European and Canadian regulators, Reuters reported in May. Under revised terms of the deal, Air Canada said it will acquire all shares of Transat for C$5 per share, representing a premium of about 30.5% to Transat's last close on Friday. |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.