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35100.0 | 2020-10-09 00:00:00 UTC | CANADA STOCKS - TSX rises 0.17% to 16,562.81 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.17-to-16562.81-2020-10-09 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.17 percent to 16,562.81
* Leading the index were Eldorado Gold Corp , up 10.1%, Silvercrest Metals Inc SIL.TO, up 9.1%, and Dundee Precious Metals Inc DPM.TO, higher by 9.1%.
* Lagging shares were NFI Group Inc NFI.TO, down 4.9%, Celestica Inc CLS.TO, down 4.5%, and Air Canada AC.TO, lower by 4.0%.
* On the TSX 91 issues rose and 123 fell as a 0.7-to-1 ratio favored decliners. There were 11 new highs and no new lows, with total volume of 209.6 million shares.
* The most heavily traded shares by volume were Toronto-dominion Bank TD.TO, Aurora Cannabis Inc ACB.TO and Teck Resources Ltd TECKb.TO.
* The TSX's energy group .SPTTEN fell 0.94 points, or 1.3%, while the financials sector .SPTTFS slipped 2.08 points, or 0.8%.
* West Texas Intermediate crude futures CLc1 fell 1.63%, or $0.67, to $40.52 a barrel. Brent crude LCOc1 fell 1.38%, or $0.6, to $42.74 O/R
* The TSX is off 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. | * Lagging shares were NFI Group Inc NFI.TO, down 4.9%, Celestica Inc CLS.TO, down 4.5%, and Air Canada AC.TO, lower by 4.0%. * The most heavily traded shares by volume were Toronto-dominion Bank TD.TO, Aurora Cannabis Inc ACB.TO and Teck Resources Ltd TECKb.TO. * West Texas Intermediate crude futures CLc1 fell 1.63%, or $0.67, to $40.52 a barrel. | * The most heavily traded shares by volume were Toronto-dominion Bank TD.TO, Aurora Cannabis Inc ACB.TO and Teck Resources Ltd TECKb.TO. * Lagging shares were NFI Group Inc NFI.TO, down 4.9%, Celestica Inc CLS.TO, down 4.5%, and Air Canada AC.TO, lower by 4.0%. * The TSX's energy group .SPTTEN fell 0.94 points, or 1.3%, while the financials sector .SPTTFS slipped 2.08 points, or 0.8%. | * The most heavily traded shares by volume were Toronto-dominion Bank TD.TO, Aurora Cannabis Inc ACB.TO and Teck Resources Ltd TECKb.TO. * Lagging shares were NFI Group Inc NFI.TO, down 4.9%, Celestica Inc CLS.TO, down 4.5%, and Air Canada AC.TO, lower by 4.0%. * The Toronto Stock Exchange's TSX rises 0.17 percent to 16,562.81 * Leading the index were Eldorado Gold Corp , up 10.1%, Silvercrest Metals Inc SIL.TO, up 9.1%, and Dundee Precious Metals Inc DPM.TO, higher by 9.1%. | * Lagging shares were NFI Group Inc NFI.TO, down 4.9%, Celestica Inc CLS.TO, down 4.5%, and Air Canada AC.TO, lower by 4.0%. * The most heavily traded shares by volume were Toronto-dominion Bank TD.TO, Aurora Cannabis Inc ACB.TO and Teck Resources Ltd TECKb.TO. * The Toronto Stock Exchange's TSX rises 0.17 percent to 16,562.81 * Leading the index were Eldorado Gold Corp , up 10.1%, Silvercrest Metals Inc SIL.TO, up 9.1%, and Dundee Precious Metals Inc DPM.TO, higher by 9.1%. |
35101.0 | 2020-10-01 00:00:00 UTC | Canadian aviation sector to be permanently hurt without aid, unions say | AC | https://www.nasdaq.com/articles/canadian-aviation-sector-to-be-permanently-hurt-without-aid-unions-say-2020-10-01-0 | nan | nan | By David Ljunggren
OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions said on Thursday the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel.
The unions, which represent more than 310,000 workers, said in a statement that Canada remained the only leading developed nation not to have unveiled concrete measures to help the travel and tourism sector.
"We need urgent funds for the aviation sector or there won't be Canadian airlines, and that will cost us all much more," said Jerry Dias, national president of Unifor, Canada's largest private sector union.
The unions also want direct financial aid tied to the resumption and maintenance of air services.
The federal Liberal government of Prime Minister Justin Trudeau has repeatedly said it is looking at aid for the aviation sector but has yet to make any announcements.
The office of federal Transport Minister Marc Garneau, asked about the unions' demand,said in a statement that Ottawa was "actively working to put forward solutions" for the sector but gave no details.
Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus.
On Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N.
Dr. Jim Chung, the carrier's chief medical officer, said rapid testing was "a means to enable governments to relax current blanket travel restrictions and quarantines in a measured way".
($1=1.3296 Canadian dollars)
(Reporting by David Ljunggren Editing by Paul Simao and Richard Chang)
((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 office of federal Transport Minister Marc Garneau, asked about the unions' demand,said in a statement that Ottawa was "actively working to put forward solutions" for the sector but gave no details. Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus. Dr. Jim Chung, the carrier's chief medical officer, said rapid testing was "a means to enable governments to relax current blanket travel restrictions and quarantines in a measured way". | Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus. The office of federal Transport Minister Marc Garneau, asked about the unions' demand,said in a statement that Ottawa was "actively working to put forward solutions" for the sector but gave no details. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions said on Thursday the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. | Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus. The office of federal Transport Minister Marc Garneau, asked about the unions' demand,said in a statement that Ottawa was "actively working to put forward solutions" for the sector but gave no details. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions said on Thursday the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. | The office of federal Transport Minister Marc Garneau, asked about the unions' demand,said in a statement that Ottawa was "actively working to put forward solutions" for the sector but gave no details. Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions said on Thursday the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. |
35102.0 | 2020-10-01 00:00:00 UTC | Canadian aviation sector to be permanently hurt without aid, unions say | AC | https://www.nasdaq.com/articles/canadian-aviation-sector-to-be-permanently-hurt-without-aid-unions-say-2020-10-01 | nan | nan | By David Ljunggren
OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions on Thursday said the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel.
The unions, which represent more than 310,000 workers, said in a statement that Canada remained the only leading developed nation not to have unveiled concrete measures to help the travel and tourism sector.
"We need urgent funds for the aviation sector or there won't be Canadian airlines, and that will cost us all much more," said Jerry Dias of Unifor, Canada's largest private sector union.
The unions also want direct financial aid tied to the resumption and maintenance of air services.
The federal Liberal government of Prime Minister Justin Trudeau has repeatedly said it is looking at aid for the aviation sector but has yet to make any announcements.
"Airlines are extremely capital-intensive operations with a high cash-burn rate and the requirement to preserve liquidity to maintain equipment, routes and staff," the unions said.
The office of federal Transport Minister Marc Garneau was not immediately available for comment.
Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus.
Separately on Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N.
Dr. Jim Chung, the carrier's chief medical officer, said rapid testing was "a means to enable governments to relax current blanket travel restrictions and quarantines in a measured way".
($1=1.3296 Canadian dollars)
(Reporting by David Ljunggren Editing by Paul Simao)
((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. | Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus. The unions, which represent more than 310,000 workers, said in a statement that Canada remained the only leading developed nation not to have unveiled concrete measures to help the travel and tourism sector. Dr. Jim Chung, the carrier's chief medical officer, said rapid testing was "a means to enable governments to relax current blanket travel restrictions and quarantines in a measured way". | Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions on Thursday said the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. "We need urgent funds for the aviation sector or there won't be Canadian airlines, and that will cost us all much more," said Jerry Dias of Unifor, Canada's largest private sector union. | Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions on Thursday said the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. "We need urgent funds for the aviation sector or there won't be Canadian airlines, and that will cost us all much more," said Jerry Dias of Unifor, Canada's largest private sector union. | Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions on Thursday said the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. The unions, which represent more than 310,000 workers, said in a statement that Canada remained the only leading developed nation not to have unveiled concrete measures to help the travel and tourism sector. |
35103.0 | 2020-09-22 00:00:00 UTC | After-Hours Earnings Report for September 22, 2020 : NKE, KBH, SFIX, ACB | AC | https://www.nasdaq.com/articles/after-hours-earnings-report-for-september-22-2020-%3A-nke-kbh-sfix-acb-2020-09-22 | nan | nan | The following companies are expected to report earnings after hours on 09/22/2020. Visit our Earnings Calendar for a full list of expected earnings releases.
Nike, Inc. (NKE) is reporting for the quarter ending August 31, 2020. The shoes & retail apparel company's consensus earnings per share forecast from the 12 analysts that follow the stock is $0.46. This value represents a 46.51% decrease compared to the same quarter last year. NKE missed the consensus earnings per share in the 2nd calendar quarter of 2020 by -2650%. Zacks Investment Research reports that the 2021 Price to Earnings ratio for NKE is 47.44 vs. an industry ratio of 37.00, implying that they will have a higher earnings growth than their competitors in the same industry.
KB Home (KBH) is reporting for the quarter ending August 31, 2020. The building (residential/commercial) company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.50. This value represents a 31.51% decrease compared to the same quarter last year. KBH missed the consensus earnings per share in the 2nd calendar quarter of 2020 by -3.51%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for KBH is 14.53 vs. an industry ratio of 10.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Stitch Fix, Inc. (SFIX) is reporting for the quarter ending July 31, 2020. The retail (shoe) company's consensus earnings per share forecast from the 8 analysts that follow the stock is $-0.18. This value represents a 357.14% decrease compared to the same quarter last year. SFIX missed the consensus earnings per share in the 2nd calendar quarter of 2020 by -83.33%. The "days to cover" for this stock exceeds 14 days. Zacks Investment Research reports that the 2020 Price to Earnings ratio for SFIX is -70.88 vs. an industry ratio of 8.80.
Aurora Cannabis Inc. (ACB) is reporting for the quarter ending June 30, 2020. The medical products company's consensus earnings per share forecast from the 5 analysts that follow the stock is $-0.29. This value represents a 0.00% decrease compared to the same quarter last year. The last two quarters ACB had negative earnings surprises; the latest report they missed by -39.62%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for ACB is -0.60 vs. an industry ratio of 25.70.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Zacks Investment Research reports that the 2021 Price to Earnings ratio for NKE is 47.44 vs. an industry ratio of 37.00, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2020 Price to Earnings ratio for KBH is 14.53 vs. an industry ratio of 10.90, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2020 Price to Earnings ratio for SFIX is -70.88 vs. an industry ratio of 8.80. | Zacks Investment Research reports that the 2021 Price to Earnings ratio for NKE is 47.44 vs. an industry ratio of 37.00, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2020 Price to Earnings ratio for KBH is 14.53 vs. an industry ratio of 10.90, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2020 Price to Earnings ratio for SFIX is -70.88 vs. an industry ratio of 8.80. | Zacks Investment Research reports that the 2021 Price to Earnings ratio for NKE is 47.44 vs. an industry ratio of 37.00, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2020 Price to Earnings ratio for KBH is 14.53 vs. an industry ratio of 10.90, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2020 Price to Earnings ratio for SFIX is -70.88 vs. an industry ratio of 8.80. | Zacks Investment Research reports that the 2021 Price to Earnings ratio for NKE is 47.44 vs. an industry ratio of 37.00, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2020 Price to Earnings ratio for KBH is 14.53 vs. an industry ratio of 10.90, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2020 Price to Earnings ratio for SFIX is -70.88 vs. an industry ratio of 8.80. |
35104.0 | 2020-09-18 00:00:00 UTC | TSX falls 0.29% to 16,198.97 | AC | https://www.nasdaq.com/articles/tsx-falls-0.29-to-16198.97-2020-09-18 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.29 percent to 16,198.97
* Leading the index were Kinross Gold Corp , up 6.3%, Methanex Corp MX.TO, up 5.7%, and Winpak Ltd WPK.TO, higher by 4.6%.
* Lagging shares were Corus Entertainment Inc CJRb.TO, down 7.9%, OceanaGold Corp OGC.TO, down 6.5%, and Air Canada AC.TO, lower by 5.6%.
* On the TSX 77 issues rose and 142 fell as a 0.5-to-1 ratio favored decliners. There were 5 new highs and no new lows, with total volume of 529.8 million shares.
* The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Kinross Gold Corp K.TO and Canadian Natural Resources Ltd CNQ.TO.
* The TSX's energy group .SPTTEN fell 0.58 points, or 0.8%, while the financials sector .SPTTFS slipped 1.59 points, or 0.6%.
* West Texas Intermediate crude futures CLc1 rose 0.02%, or $0.01, to $40.98 a barrel. Brent crude LCOc1 fell 0.51%, or $0.22, to $43.08 O/R
* The TSX is off 5.1% 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. | * Lagging shares were Corus Entertainment Inc CJRb.TO, down 7.9%, OceanaGold Corp OGC.TO, down 6.5%, and Air Canada AC.TO, lower by 5.6%. * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Kinross Gold Corp K.TO and Canadian Natural Resources Ltd CNQ.TO. * West Texas Intermediate crude futures CLc1 rose 0.02%, or $0.01, to $40.98 a barrel. | * Lagging shares were Corus Entertainment Inc CJRb.TO, down 7.9%, OceanaGold Corp OGC.TO, down 6.5%, and Air Canada AC.TO, lower by 5.6%. * The Toronto Stock Exchange's TSX falls 0.29 percent to 16,198.97 * Leading the index were Kinross Gold Corp , up 6.3%, Methanex Corp MX.TO, up 5.7%, and Winpak Ltd WPK.TO, higher by 4.6%. * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Kinross Gold Corp K.TO and Canadian Natural Resources Ltd CNQ.TO. | * Lagging shares were Corus Entertainment Inc CJRb.TO, down 7.9%, OceanaGold Corp OGC.TO, down 6.5%, and Air Canada AC.TO, lower by 5.6%. * The Toronto Stock Exchange's TSX falls 0.29 percent to 16,198.97 * Leading the index were Kinross Gold Corp , up 6.3%, Methanex Corp MX.TO, up 5.7%, and Winpak Ltd WPK.TO, higher by 4.6%. * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Kinross Gold Corp K.TO and Canadian Natural Resources Ltd CNQ.TO. | * Lagging shares were Corus Entertainment Inc CJRb.TO, down 7.9%, OceanaGold Corp OGC.TO, down 6.5%, and Air Canada AC.TO, lower by 5.6%. * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Kinross Gold Corp K.TO and Canadian Natural Resources Ltd CNQ.TO. Brent crude LCOc1 fell 0.51%, or $0.22, to $43.08 O/R * The TSX is off 5.1% for the year. |
35105.0 | 2020-09-11 00:00:00 UTC | TSX rises as U.S. tech stock rout cools | AC | https://www.nasdaq.com/articles/tsx-rises-as-u.s.-tech-stock-rout-cools-2020-09-11-0 | nan | nan | Adds details on sectors
Sept 11 (Reuters) - Canada's main stock index rose on Friday, taking cues from Wall Street, as heavyweight U.S. tech stocks gained following a plunge in the previous session that was sparked by a sell-off.
* At 9:50 a.m. ET (13:50 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 100.68 points, or 0.62%, at 16,286.
* A wave of consolidation is underway in Canada's Montney oil and gas region as small companies struggling to weather the impact of coronavirus on the energy industry sell their holdings in what just a few years ago was a booming patch.
* The energy sector .SPTTEN climbed 0.5% even as U.S. crude CLc1 prices were down 0.2% a barrel, while Brent crude LCOc1 lost 0.8%. O/R
* The financials sector .SPTTFS gained 0.5%, while the industrials sector .GSPTTIN rose 0.7%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, was up 1.6% even as gold futures GCc1 fell 0.2% to $1,949.5 an ounce. GOL/MET/L
* On the TSX, 156 issues were higher, while 55 issues declined for a 2.84-to-1 ratio favouring gainers, with 16.03 million shares traded.
* The largest percentage gainers on the TSX were Teck Resources TECKb.TO, which jumped 8.2% while Empire Company EMPa.TO rose 6.3%.
* Pot producer Aurora Cannabis ACB.TO fell 2.8%, the most on the TSX, while the second biggest decliner was Pason Systems PSI.TO, down 1.5%.
* The most heavily traded shares by volume were Teck Resources TECKb.TO, Freegold Ventures FVL.TO and Air Canada AC.TO.
* The TSX posted one new 52-week high and no new lows.
* Across all Canadian issues, there were five new 52-week highs and one new low, with total volume of 30.92 million shares.
(Reporting by Shashank Nayar in Bengaluru; Editing by Ramakrishnan M.)
((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. | * A wave of consolidation is underway in Canada's Montney oil and gas region as small companies struggling to weather the impact of coronavirus on the energy industry sell their holdings in what just a few years ago was a booming patch. * Pot producer Aurora Cannabis ACB.TO fell 2.8%, the most on the TSX, while the second biggest decliner was Pason Systems PSI.TO, down 1.5%. * The most heavily traded shares by volume were Teck Resources TECKb.TO, Freegold Ventures FVL.TO and Air Canada AC.TO. | * The most heavily traded shares by volume were Teck Resources TECKb.TO, Freegold Ventures FVL.TO and Air Canada AC.TO. * A wave of consolidation is underway in Canada's Montney oil and gas region as small companies struggling to weather the impact of coronavirus on the energy industry sell their holdings in what just a few years ago was a booming patch. * Pot producer Aurora Cannabis ACB.TO fell 2.8%, the most on the TSX, while the second biggest decliner was Pason Systems PSI.TO, down 1.5%. | * A wave of consolidation is underway in Canada's Montney oil and gas region as small companies struggling to weather the impact of coronavirus on the energy industry sell their holdings in what just a few years ago was a booming patch. * Pot producer Aurora Cannabis ACB.TO fell 2.8%, the most on the TSX, while the second biggest decliner was Pason Systems PSI.TO, down 1.5%. * The most heavily traded shares by volume were Teck Resources TECKb.TO, Freegold Ventures FVL.TO and Air Canada AC.TO. | * Across all Canadian issues, there were five new 52-week highs and one new low, with total volume of 30.92 million shares. * A wave of consolidation is underway in Canada's Montney oil and gas region as small companies struggling to weather the impact of coronavirus on the energy industry sell their holdings in what just a few years ago was a booming patch. * Pot producer Aurora Cannabis ACB.TO fell 2.8%, the most on the TSX, while the second biggest decliner was Pason Systems PSI.TO, down 1.5%. |
35106.0 | 2020-09-03 00:00:00 UTC | Air Canada starts COVID-19 testing at Toronto airport in push to open travel | AC | https://www.nasdaq.com/articles/air-canada-starts-covid-19-testing-at-toronto-airport-in-push-to-open-travel-2020-09-03 | nan | nan | Adds context, details on study
Sept 3 (Reuters) - Air Canada AC.TO said on Thursday it has launched a voluntary COVID-19 study of international travelers coming into Toronto's Pearson Airport as part of a campaign to persuade the government to lift travel restrictions such as its 14-day quarantine.
Under the study, set to begin on Thursday, participating passengers will provide samples to be analysed for COVID-19 using polymerase chain reaction (PCR) tests upon arrival and in two follow-ups to establish how many travellers arrive infected.
"Our study will provide data to help determine if an airport-based COVID-19 surveillance program is feasible, whether self-collection of COVID-19 testing is effective, and to explore options regarding the 14-day quarantine for international travel," Air Canada said.
Canada's borders are now closed to all noncitizens except for essential workers, and Canadians who enter the country from abroad must self-isolate for two weeks.
Most carriers and airports around the world support the idea of testing to replace government-imposed quarantines. They believe a layered approach including steps like temperature checks, cleaning and mask-wearing can replace quarantines.
A U.N. aviation task force is expected to weigh in on one industry proposal at a meeting on Sept. 15, airline group IATA said.
Canada’s largest carrier said the month-long research project would be conducted with McMaster HealthLabs and the Greater Toronto Airports Authority.
Smaller rival WestJet recently announced its own testing plans for passengers departing Vancouver's international airport.
Reuters reported on Thursday that a coalition of major airlines have called on the U.S. and British governments to launch a coronavirus testing trial for passengers on flights between London and New York.
(Reporting by Allison Lampert in Montreal and Tracy Rucinski in Chicago; Editing by Shounak Dasgupta and Sonya Hepinstall)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas))
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, details on study Sept 3 (Reuters) - Air Canada AC.TO said on Thursday it has launched a voluntary COVID-19 study of international travelers coming into Toronto's Pearson Airport as part of a campaign to persuade the government to lift travel restrictions such as its 14-day quarantine. Under the study, set to begin on Thursday, participating passengers will provide samples to be analysed for COVID-19 using polymerase chain reaction (PCR) tests upon arrival and in two follow-ups to establish how many travellers arrive infected. Most carriers and airports around the world support the idea of testing to replace government-imposed quarantines. | Adds context, details on study Sept 3 (Reuters) - Air Canada AC.TO said on Thursday it has launched a voluntary COVID-19 study of international travelers coming into Toronto's Pearson Airport as part of a campaign to persuade the government to lift travel restrictions such as its 14-day quarantine. Under the study, set to begin on Thursday, participating passengers will provide samples to be analysed for COVID-19 using polymerase chain reaction (PCR) tests upon arrival and in two follow-ups to establish how many travellers arrive infected. Most carriers and airports around the world support the idea of testing to replace government-imposed quarantines. | Adds context, details on study Sept 3 (Reuters) - Air Canada AC.TO said on Thursday it has launched a voluntary COVID-19 study of international travelers coming into Toronto's Pearson Airport as part of a campaign to persuade the government to lift travel restrictions such as its 14-day quarantine. Under the study, set to begin on Thursday, participating passengers will provide samples to be analysed for COVID-19 using polymerase chain reaction (PCR) tests upon arrival and in two follow-ups to establish how many travellers arrive infected. Most carriers and airports around the world support the idea of testing to replace government-imposed quarantines. | Adds context, details on study Sept 3 (Reuters) - Air Canada AC.TO said on Thursday it has launched a voluntary COVID-19 study of international travelers coming into Toronto's Pearson Airport as part of a campaign to persuade the government to lift travel restrictions such as its 14-day quarantine. Under the study, set to begin on Thursday, participating passengers will provide samples to be analysed for COVID-19 using polymerase chain reaction (PCR) tests upon arrival and in two follow-ups to establish how many travellers arrive infected. Most carriers and airports around the world support the idea of testing to replace government-imposed quarantines. |
35107.0 | 2020-09-03 00:00:00 UTC | TSX falls on profit-taking after bullish run | AC | https://www.nasdaq.com/articles/tsx-falls-on-profit-taking-after-bullish-run-2020-09-03 | nan | nan | Sept 3 (Reuters) - Canada's main stock index fell on Thursday, tracking Wall Street, as investors booked profits after a strong run in recent weeks that was powered by bets of more global stimulus and signs of a pickup in business activity.
* At 9:53 a.m. ET (1353 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 20.07 points, or 0.12%, at 16,677.9.
* Canada's trade deficit grew to C$2.45 billion ($1.87 billion) in July as both imports and exports continued to recover from the lifting of restrictions put in place to tackle the coronavirus, Statistics Canada said.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.7% even though gold futures GCc1 rose 0.1% to $1,936.1 an ounce. GOL/
* The energy sector .SPTTEN climbed 1.4% even though U.S. crude CLc1 prices were down 1.8% a barrel, while Brent crude LCOc1 lost 2.0%. O/R
* On the TSX, 107 issues were higher, while 112 issues declined for a 1.05-to-1 ratio to the downside, with 22.37 million shares traded.
* Ballard Power Systems Inc fell 4.7%, the most on the TSX, and the second biggest decliner was First Quantum Minerals Ltd , down 4%.
* The largest percentage gainers on the TSX were carrier Air Canada AC.TO, which jumped 3.4% after the company said it plans to conduct a study on international travelers arriving at the Toronto Pearson International Airport, to test the effectiveness of various COVID-19 quarantine periods.
* Its gains were followed by the pot producer Canopy Growth Corp WEED.TO, which rose 3%.
* The most heavily traded shares by volume were Air Canada , Suncor Energy Inc , and Just Energy Group .
* The TSX posted one new 52-week highs and no new lows.
* Across all Canadian issues there were 22 new 52-week highs and one new low, with total volume of 44.42 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. | Sept 3 (Reuters) - Canada's main stock index fell on Thursday, tracking Wall Street, as investors booked profits after a strong run in recent weeks that was powered by bets of more global stimulus and signs of a pickup in business activity. * The largest percentage gainers on the TSX were carrier Air Canada AC.TO, which jumped 3.4% after the company said it plans to conduct a study on international travelers arriving at the Toronto Pearson International Airport, to test the effectiveness of various COVID-19 quarantine periods. * Canada's trade deficit grew to C$2.45 billion ($1.87 billion) in July as both imports and exports continued to recover from the lifting of restrictions put in place to tackle the coronavirus, Statistics Canada said. | Sept 3 (Reuters) - Canada's main stock index fell on Thursday, tracking Wall Street, as investors booked profits after a strong run in recent weeks that was powered by bets of more global stimulus and signs of a pickup in business activity. * Canada's trade deficit grew to C$2.45 billion ($1.87 billion) in July as both imports and exports continued to recover from the lifting of restrictions put in place to tackle the coronavirus, Statistics Canada said. * The largest percentage gainers on the TSX were carrier Air Canada AC.TO, which jumped 3.4% after the company said it plans to conduct a study on international travelers arriving at the Toronto Pearson International Airport, to test the effectiveness of various COVID-19 quarantine periods. | Sept 3 (Reuters) - Canada's main stock index fell on Thursday, tracking Wall Street, as investors booked profits after a strong run in recent weeks that was powered by bets of more global stimulus and signs of a pickup in business activity. * The largest percentage gainers on the TSX were carrier Air Canada AC.TO, which jumped 3.4% after the company said it plans to conduct a study on international travelers arriving at the Toronto Pearson International Airport, to test the effectiveness of various COVID-19 quarantine periods. * Canada's trade deficit grew to C$2.45 billion ($1.87 billion) in July as both imports and exports continued to recover from the lifting of restrictions put in place to tackle the coronavirus, Statistics Canada said. | * Across all Canadian issues there were 22 new 52-week highs and one new low, with total volume of 44.42 million shares. Sept 3 (Reuters) - Canada's main stock index fell on Thursday, tracking Wall Street, as investors booked profits after a strong run in recent weeks that was powered by bets of more global stimulus and signs of a pickup in business activity. * Canada's trade deficit grew to C$2.45 billion ($1.87 billion) in July as both imports and exports continued to recover from the lifting of restrictions put in place to tackle the coronavirus, Statistics Canada said. |
35108.0 | 2020-09-02 00:00:00 UTC | EMERGING MARKETS-Indonesia c.bank steps in on rupiah, Thai baht down as finmin resigns | AC | https://www.nasdaq.com/articles/emerging-markets-indonesia-c.bank-steps-in-on-rupiah-thai-baht-down-as-finmin-resigns-2020 | nan | nan | By Shashwat Awasthi
Sept 2 (Reuters) - Indonesia's central bank stepped in to ease pressure on the rupiah on Wednesday as it hit a two-week low on the back of concerns that a proposed new framework for monetary policymaking could undermine the bank's independence.
With moves across many of Asia's stock and currency markets limited, the Thai baht THB=TH also stood out with a half percent fall after finance minister Predee Daochai resigned less than a month into the job, sparking worries amid the government's efforts to shore up the tourism-reliant economy.
The rupiah IDR=, dogged by worries over economic slowdown, debt and a difficult policy mix, came off its session lows but was still 1.3% lower amid worries around the central bank's autonomy.
An advisory panel to the Indonesian government had on Monday proposed the biggest shake-up in monetary policy decision-making in two decades, including a call for ministers to be given voting rights at Bank Indonesia (BI) policy meetings.
Indonesian President Joko Widodo's assurances on Tuesday that BI would remain independent did little to ease concerns among foreign investors.
Jeffrey Halley, an analyst at trading platform OANDA, said the proposal introduced the threat of politics interfering with independent monetary policy and would be "a retrograde step from the perspective of international investors."
Among stocks, Philippines' main index .PSI fell for a fifth straight session and was down 1% amid concerns that rising coronavirus cases and new curbs in the capital will weigh further on the economy.
"The extension of restrictions in an area that represents about more than 50% of the country's economy has fuelled the continuation of the PSEi's slide," said Ruben Asuncion, chief economist at Union Bank of the Philippines.
HIGHLIGHTS
** Indonesian 10-year benchmark yields are up 3.4 basis points at 6.898%
** In the Philippines, top index losers are Ayala Land ALI.PS down 4.59%, Ayala Corp AC.PS down 2.54% and BDO Unibank BDO.PS down 2.11%
** Top gainers on FTSE Bursa Malaysia Kl Index .KLSE include PPB Group PEPT.KL up 2.93%, Sime Darby SIME.KL up 2.26% and MISC Bhd MISC.KL up 2.25%
Asia stock indexes and currencies at 0650 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.07
+2.44
.N225
0.47
-1.73
China
CNY=CFXS
+0.06
+2.04
.SSEC
-0.08
11.73
India
INR=IN
-0.17
-2.21
.NSEI
0.02
-5.72
Indonesia
IDR=
-1.32
-5.96
.JKSE
-0.08
-15.77
Malaysia
MYR=
-0.10
-1.33
.KLSE
0.54
-3.72
Philippines
PHP=
+0.06
+4.28
.PSI
-1.05
-26.57
S.Korea
KRW=KFTC
-0.20
-2.45
.KS11
0.63
7.59
Singapore
SGD=
+0.08
-1.16
.STI
-0.13
-21.34
Taiwan
TWD=TP
+0.63
+2.62
.TWII
-0.03
5.85
Thailand
THB=TH
-0.45
-4.13
.SETI
0.36
-17.07
(Reporting by Shashwat Awasthi, additional reporting by Arpit Nayak in Bengaluru; Editing by Patrick Graham and Subhranshu Sahu)
((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. | With moves across many of Asia's stock and currency markets limited, the Thai baht THB=TH also stood out with a half percent fall after finance minister Predee Daochai resigned less than a month into the job, sparking worries amid the government's efforts to shore up the tourism-reliant economy. By Shashwat Awasthi Sept 2 (Reuters) - Indonesia's central bank stepped in to ease pressure on the rupiah on Wednesday as it hit a two-week low on the back of concerns that a proposed new framework for monetary policymaking could undermine the bank's independence. ** Indonesian 10-year benchmark yields are up 3.4 basis points at 6.898% ** In the Philippines, top index losers are Ayala Land ALI.PS down 4.59%, Ayala Corp AC.PS down 2.54% and BDO Unibank BDO.PS down 2.11% ** Top gainers on FTSE Bursa Malaysia Kl Index .KLSE include PPB Group PEPT.KL up 2.93%, Sime Darby SIME.KL up 2.26% and MISC Bhd MISC.KL up 2.25% Asia stock indexes and currencies at 0650 GMT | By Shashwat Awasthi Sept 2 (Reuters) - Indonesia's central bank stepped in to ease pressure on the rupiah on Wednesday as it hit a two-week low on the back of concerns that a proposed new framework for monetary policymaking could undermine the bank's independence. ** Indonesian 10-year benchmark yields are up 3.4 basis points at 6.898% ** In the Philippines, top index losers are Ayala Land ALI.PS down 4.59%, Ayala Corp AC.PS down 2.54% and BDO Unibank BDO.PS down 2.11% ** Top gainers on FTSE Bursa Malaysia Kl Index .KLSE include PPB Group PEPT.KL up 2.93%, Sime Darby SIME.KL up 2.26% and MISC Bhd MISC.KL up 2.25% Asia stock indexes and currencies at 0650 GMT With moves across many of Asia's stock and currency markets limited, the Thai baht THB=TH also stood out with a half percent fall after finance minister Predee Daochai resigned less than a month into the job, sparking worries amid the government's efforts to shore up the tourism-reliant economy. | By Shashwat Awasthi Sept 2 (Reuters) - Indonesia's central bank stepped in to ease pressure on the rupiah on Wednesday as it hit a two-week low on the back of concerns that a proposed new framework for monetary policymaking could undermine the bank's independence. ** Indonesian 10-year benchmark yields are up 3.4 basis points at 6.898% ** In the Philippines, top index losers are Ayala Land ALI.PS down 4.59%, Ayala Corp AC.PS down 2.54% and BDO Unibank BDO.PS down 2.11% ** Top gainers on FTSE Bursa Malaysia Kl Index .KLSE include PPB Group PEPT.KL up 2.93%, Sime Darby SIME.KL up 2.26% and MISC Bhd MISC.KL up 2.25% Asia stock indexes and currencies at 0650 GMT With moves across many of Asia's stock and currency markets limited, the Thai baht THB=TH also stood out with a half percent fall after finance minister Predee Daochai resigned less than a month into the job, sparking worries amid the government's efforts to shore up the tourism-reliant economy. | By Shashwat Awasthi Sept 2 (Reuters) - Indonesia's central bank stepped in to ease pressure on the rupiah on Wednesday as it hit a two-week low on the back of concerns that a proposed new framework for monetary policymaking could undermine the bank's independence. ** Indonesian 10-year benchmark yields are up 3.4 basis points at 6.898% ** In the Philippines, top index losers are Ayala Land ALI.PS down 4.59%, Ayala Corp AC.PS down 2.54% and BDO Unibank BDO.PS down 2.11% ** Top gainers on FTSE Bursa Malaysia Kl Index .KLSE include PPB Group PEPT.KL up 2.93%, Sime Darby SIME.KL up 2.26% and MISC Bhd MISC.KL up 2.25% Asia stock indexes and currencies at 0650 GMT With moves across many of Asia's stock and currency markets limited, the Thai baht THB=TH also stood out with a half percent fall after finance minister Predee Daochai resigned less than a month into the job, sparking worries amid the government's efforts to shore up the tourism-reliant economy. |
35109.0 | 2020-09-01 00:00:00 UTC | In Canada, airlines face uphill climb to replace quarantines with COVID-19 testing | AC | https://www.nasdaq.com/articles/in-canada-airlines-face-uphill-climb-to-replace-quarantines-with-covid-19-testing-2020-09 | nan | nan | By Allison Lampert and Allison Martell
MONTREAL/TORONTO, Sept 1 (Reuters) - Transport Canada is holding early talks with airlines to introduce COVID-19 testing at airports, but the day when such tests could become an alternative to the quarantines decimating travel could still be far off, sources familiar with the discussions said.
The airline-led talks come as Air Canada AC.TO and WestJet introduce their own testing plans for Toronto and Vancouver airports, respectively this fall.
The use of airport testing to reduce or eliminate Canada's strict two-week self quarantine rule would be logistically challenging as it would require cooperation from airports, airlines, federal and provincial health authorities, the sources said.
And government-approved lab tests that largely take 24 to 48 hours to deliver results would need to be used, making them impractical for airport departures, they added.
Canada has faced pressure from airlines to change its travel restrictions, with the country's borders now closed to all noncitizens except for essential workers.
"The airlines have a vested interest in seeing this happen," one of the source said. "But there is no guarantee that Canada would choose to lift the 14-day quarantine even if testing were able to take place at airports."
Globally, carriers and airports largely back testing to replace quarantines, with a U.N. aviation task force expected to weigh in on one industry proposal at a Sept. 15 meeting, airline group IATA said.
IATA and Airports Council International (ACI) support the use of PCR (polymerase chain reaction) tests 48 hours ahead of departure from high-risk countries, since rapid tests are not seen as reliable or widely accepted by regulators.
Health Canada has changed its position on home tests and is now willing to consider approving rapid home COVID-19 tests.
Last week U.S. regulators approved a rapid test from Abbott Laboratories ABT.N but it is currently approved only for people who have symptoms.
WestJet and Vancouver International Airport have not yet finalized joint plans announced last week to test some departing passengers.
Tamara Vrooman, chief executive of the Vancouver airport, said one possibility was for the facility to be certified as a lab, but "we're still examining that."
Air Canada declined comment.
Canada's Chief Public Health Officer Theresa Tam said on Friday her agency was looking at "options going forward and reducing the more restrictive measures at the border."
Health officials are also considering the timing of the test, since travelers coming to Canada might have a negative result if they were infected only one or two days prior.
Transport Canada said it is committed to "working with other federal partners to explore COVID testing at airports upon arrival."
(Reporting By Allison Lampert in Montreal and Allison Martell in Toronto; Editing by Bill Berkrot and Tom Brown)
((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. | The airline-led talks come as Air Canada AC.TO and WestJet introduce their own testing plans for Toronto and Vancouver airports, respectively this fall. Globally, carriers and airports largely back testing to replace quarantines, with a U.N. aviation task force expected to weigh in on one industry proposal at a Sept. 15 meeting, airline group IATA said. And government-approved lab tests that largely take 24 to 48 hours to deliver results would need to be used, making them impractical for airport departures, they added. | The airline-led talks come as Air Canada AC.TO and WestJet introduce their own testing plans for Toronto and Vancouver airports, respectively this fall. And government-approved lab tests that largely take 24 to 48 hours to deliver results would need to be used, making them impractical for airport departures, they added. Canada has faced pressure from airlines to change its travel restrictions, with the country's borders now closed to all noncitizens except for essential workers. | The airline-led talks come as Air Canada AC.TO and WestJet introduce their own testing plans for Toronto and Vancouver airports, respectively this fall. And government-approved lab tests that largely take 24 to 48 hours to deliver results would need to be used, making them impractical for airport departures, they added. Canada has faced pressure from airlines to change its travel restrictions, with the country's borders now closed to all noncitizens except for essential workers. | The airline-led talks come as Air Canada AC.TO and WestJet introduce their own testing plans for Toronto and Vancouver airports, respectively this fall. And government-approved lab tests that largely take 24 to 48 hours to deliver results would need to be used, making them impractical for airport departures, they added. Canada has faced pressure from airlines to change its travel restrictions, with the country's borders now closed to all noncitizens except for essential workers. |
35110.0 | 2020-08-28 00:00:00 UTC | TSX falls 0.15% to 16,705.79 | AC | https://www.nasdaq.com/articles/tsx-falls-0.15-to-16705.79-2020-08-28 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.15 percent to 16,705.79
* Leading the index were Silvercorp Metals Inc , up 7.6%, Canadian Western Bank CWB.TO, up 7.6%, and Cineplex Inc CGX.TO, higher by 5.7%.
* Lagging shares were OceanaGold Corp OGC.TO, down 6.1%, Brookfield Business Partners LP BBU_u.TO, down 3.0%, and Alimentation Couche-Tard Inc ATDb.TO, lower by 2.6%.
* On the TSX 123 issues rose and 95 fell as a 1.3-to-1 ratio favored advancers. There were 3 new highs and no new lows, with total volume of 205.3 million shares.
* The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Barrick Gold Corp ABX.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN rose 0.49 points, or 0.6%, while the financials sector .SPTTFS slipped 1.95 points, or 0.7%.
* West Texas Intermediate crude futures CLc1 fell 0.26%, or $0.11, to $42.93 a barrel. Brent crude LCOc1 fell 0.02%, or $0.01, to $45.08 O/R
* The TSX is off 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, Barrick Gold Corp ABX.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX falls 0.15 percent to 16,705.79 * Leading the index were Silvercorp Metals Inc , up 7.6%, Canadian Western Bank CWB.TO, up 7.6%, and Cineplex Inc CGX.TO, higher by 5.7%. * Lagging shares were OceanaGold Corp OGC.TO, down 6.1%, Brookfield Business Partners LP BBU_u.TO, down 3.0%, and Alimentation Couche-Tard Inc ATDb.TO, lower by 2.6%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Barrick Gold Corp ABX.TO and Air Canada AC.TO. * On the TSX 123 issues rose and 95 fell as a 1.3-to-1 ratio favored advancers. * The TSX's energy group .SPTTEN rose 0.49 points, or 0.6%, while the financials sector .SPTTFS slipped 1.95 points, or 0.7%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Barrick Gold Corp ABX.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX falls 0.15 percent to 16,705.79 * Leading the index were Silvercorp Metals Inc , up 7.6%, Canadian Western Bank CWB.TO, up 7.6%, and Cineplex Inc CGX.TO, higher by 5.7%. * The TSX's energy group .SPTTEN rose 0.49 points, or 0.6%, while the financials sector .SPTTFS slipped 1.95 points, or 0.7%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Barrick Gold Corp ABX.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX falls 0.15 percent to 16,705.79 * Leading the index were Silvercorp Metals Inc , up 7.6%, Canadian Western Bank CWB.TO, up 7.6%, and Cineplex Inc CGX.TO, higher by 5.7%. * On the TSX 123 issues rose and 95 fell as a 1.3-to-1 ratio favored advancers. |
35111.0 | 2020-08-28 00:00:00 UTC | Boeing finds flaws in fuselage of some Dreamliners; 8 aircraft affected | AC | https://www.nasdaq.com/articles/boeing-finds-flaws-in-fuselage-of-some-dreamliners-8-aircraft-affected-2020-08-28 | nan | nan | Changes sourcing, adds Boeing, United Airlines comment
Aug 28 (Reuters) - Boeing Co BA.N said on Friday that some airlines operating its 787 Dreamliners have removed eight jets from service after the planemaker identified two distinct manufacturing issues in the fuselage section.
The planemaker said it was conducting a review to find the root cause and has notified the U.S. Federal Aviation Administration.
"We immediately contacted the airlines that operate the eight affected airplanes to notify them of the situation and the airplanes have been temporarily removed from service until they can be repaired," Boeing spokesman Peter Pedraza said.
Aircraft for United Airlines UAL.O, Singapore Airlines SIAL.SI and Air Canada AC.TO are impacted by the impromptu grounding, aviation publication Air Current, which first reported the news, said.
United Airlines said it has one of the Dreamliners and the jet is not in service, while Singapore Airlines said one of its Boeing 787-10 aircraft was affected by the technical issue.
"The aircraft is not in service and we will work closely with Boeing on a solution," a Singapore Airlines spokesperson told Reuters.
Air Canada did not immediately respond to Reuters request for comment.
(Reporting by Sanjana Shivdas and Aakriti Bhalla in Bengaluru; Editing by Maju Samuel and Arun Koyyur)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Changes sourcing, adds Boeing, United Airlines comment Aug 28 (Reuters) - Boeing Co BA.N said on Friday that some airlines operating its 787 Dreamliners have removed eight jets from service after the planemaker identified two distinct manufacturing issues in the fuselage section. "We immediately contacted the airlines that operate the eight affected airplanes to notify them of the situation and the airplanes have been temporarily removed from service until they can be repaired," Boeing spokesman Peter Pedraza said. Aircraft for United Airlines UAL.O, Singapore Airlines SIAL.SI and Air Canada AC.TO are impacted by the impromptu grounding, aviation publication Air Current, which first reported the news, said. | Changes sourcing, adds Boeing, United Airlines comment Aug 28 (Reuters) - Boeing Co BA.N said on Friday that some airlines operating its 787 Dreamliners have removed eight jets from service after the planemaker identified two distinct manufacturing issues in the fuselage section. "We immediately contacted the airlines that operate the eight affected airplanes to notify them of the situation and the airplanes have been temporarily removed from service until they can be repaired," Boeing spokesman Peter Pedraza said. Aircraft for United Airlines UAL.O, Singapore Airlines SIAL.SI and Air Canada AC.TO are impacted by the impromptu grounding, aviation publication Air Current, which first reported the news, said. | Changes sourcing, adds Boeing, United Airlines comment Aug 28 (Reuters) - Boeing Co BA.N said on Friday that some airlines operating its 787 Dreamliners have removed eight jets from service after the planemaker identified two distinct manufacturing issues in the fuselage section. Aircraft for United Airlines UAL.O, Singapore Airlines SIAL.SI and Air Canada AC.TO are impacted by the impromptu grounding, aviation publication Air Current, which first reported the news, said. "We immediately contacted the airlines that operate the eight affected airplanes to notify them of the situation and the airplanes have been temporarily removed from service until they can be repaired," Boeing spokesman Peter Pedraza said. | Aircraft for United Airlines UAL.O, Singapore Airlines SIAL.SI and Air Canada AC.TO are impacted by the impromptu grounding, aviation publication Air Current, which first reported the news, said. Changes sourcing, adds Boeing, United Airlines comment Aug 28 (Reuters) - Boeing Co BA.N said on Friday that some airlines operating its 787 Dreamliners have removed eight jets from service after the planemaker identified two distinct manufacturing issues in the fuselage section. "We immediately contacted the airlines that operate the eight affected airplanes to notify them of the situation and the airplanes have been temporarily removed from service until they can be repaired," Boeing spokesman Peter Pedraza said. |
35112.0 | 2020-08-28 00:00:00 UTC | Boeing pulls eight 787 jets from service over structural issue - The Air Current | AC | https://www.nasdaq.com/articles/boeing-pulls-eight-787-jets-from-service-over-structural-issue-the-air-current-2020-08-28 | nan | nan | Aug 28 (Reuters) - Boeing Co BA.N called on airlines to pull eight 787 Dreamliners from service, after the planemaker found a manufacturing issue in the jet's structure, The Air Current reported on Friday.
This instruction from Boeing took place earlier this week after finding an issue that undermined the strength of an area of the jet's carbon fiber composite structure, the aviation publication reported.
Aircraft for United Airlines UAL.O, Singapore Airlines SIAL.SI and Air Canada AC.TO are impacted by the impromptu grounding, the report said, citing a person familiar with the situation.
Boeing confirmed to The Air Current that it had identified two distinct manufacturing issues in the fuselage sections of certain 787 jets.
Singapore Airlines said it was aware that one of its Boeing 787-10 aircraft was affected by the technical issue.
"The aircraft is not in service and we will work closely with Boeing on a solution" a Singapore Airlines spokesperson told Reuters.
Boeing, Air Canada and United Airlines did not immediately respond to requests for comment.
(Reporting by Sanjana Shivdas and Aakriti Bhalla in Bengaluru; Editing by Maju Samuel)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aug 28 (Reuters) - Boeing Co BA.N called on airlines to pull eight 787 Dreamliners from service, after the planemaker found a manufacturing issue in the jet's structure, The Air Current reported on Friday. This instruction from Boeing took place earlier this week after finding an issue that undermined the strength of an area of the jet's carbon fiber composite structure, the aviation publication reported. Boeing confirmed to The Air Current that it had identified two distinct manufacturing issues in the fuselage sections of certain 787 jets. | Aug 28 (Reuters) - Boeing Co BA.N called on airlines to pull eight 787 Dreamliners from service, after the planemaker found a manufacturing issue in the jet's structure, The Air Current reported on Friday. Aircraft for United Airlines UAL.O, Singapore Airlines SIAL.SI and Air Canada AC.TO are impacted by the impromptu grounding, the report said, citing a person familiar with the situation. This instruction from Boeing took place earlier this week after finding an issue that undermined the strength of an area of the jet's carbon fiber composite structure, the aviation publication reported. | Aug 28 (Reuters) - Boeing Co BA.N called on airlines to pull eight 787 Dreamliners from service, after the planemaker found a manufacturing issue in the jet's structure, The Air Current reported on Friday. This instruction from Boeing took place earlier this week after finding an issue that undermined the strength of an area of the jet's carbon fiber composite structure, the aviation publication reported. Aircraft for United Airlines UAL.O, Singapore Airlines SIAL.SI and Air Canada AC.TO are impacted by the impromptu grounding, the report said, citing a person familiar with the situation. | Aug 28 (Reuters) - Boeing Co BA.N called on airlines to pull eight 787 Dreamliners from service, after the planemaker found a manufacturing issue in the jet's structure, The Air Current reported on Friday. This instruction from Boeing took place earlier this week after finding an issue that undermined the strength of an area of the jet's carbon fiber composite structure, the aviation publication reported. Aircraft for United Airlines UAL.O, Singapore Airlines SIAL.SI and Air Canada AC.TO are impacted by the impromptu grounding, the report said, citing a person familiar with the situation. |
35113.0 | 2020-08-27 00:00:00 UTC | Air Canada plans voluntary COVID-19 passenger test trial -analyst note | AC | https://www.nasdaq.com/articles/air-canada-plans-voluntary-covid-19-passenger-test-trial-analyst-note-2020-08-27 | nan | nan | MONTREAL, Aug 27 (Reuters) - Air Canada AC.TO is planning a voluntary COVID-19 test trial for passengers arriving at the country's largest airport to help persuade the federal government to end stringent quarantine rules that have crippled air travel, a Raymond James analyst said in a note.
The note, based on a presentation by Air Canada Chief Financial Officer Michael Rousseau at a Raymond James conference on Tuesday, said the carrier is working with the Greater Toronto Airports Authority and expects to begin a trial after the Labor Day holiday on Sept. 7. It would consist of a test at Toronto's Pearson Airport followed by up to two tests at home.
The trial comes with the hope that "the data collected will convince the government to take more of a science-based approach with the 14-day quarantine requirement waived or reduced for those with successful (negative) tests," Raymond James analyst Savanthi Syth said in the note on Tuesday.
Globally, airlines and airports are pressing a United Nations-led task force to recommend a negative COVID-19 test within 48 hours of travel as an alternative to quarantines.
Canada's borders are closed to all noncitizens except for essential workers. Canadians who enter the country from abroad must self-isolate for two weeks.
Prime Minister Justin Trudeau has dismissed repeated calls from the airline industry to relax air travel restrictions to select countries.
It is not clear what kind of tests would be used, although the note said the ones at home would be administered between five to seven days after arrival, and again at around 10 days.
Air Canada declined to comment on the note. The Greater Toronto Airports Authority directed queries to Air Canada.
Transport Canada and Public Health Agency Canada referred questions about the note to each other.
(Reporting By Allison Lampert in Montreal Additional reporting by Allison Martell in Toronto Editing by 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. | The trial comes with the hope that "the data collected will convince the government to take more of a science-based approach with the 14-day quarantine requirement waived or reduced for those with successful (negative) tests," Raymond James analyst Savanthi Syth said in the note on Tuesday. MONTREAL, Aug 27 (Reuters) - Air Canada AC.TO is planning a voluntary COVID-19 test trial for passengers arriving at the country's largest airport to help persuade the federal government to end stringent quarantine rules that have crippled air travel, a Raymond James analyst said in a note. Transport Canada and Public Health Agency Canada referred questions about the note to each other. | The trial comes with the hope that "the data collected will convince the government to take more of a science-based approach with the 14-day quarantine requirement waived or reduced for those with successful (negative) tests," Raymond James analyst Savanthi Syth said in the note on Tuesday. MONTREAL, Aug 27 (Reuters) - Air Canada AC.TO is planning a voluntary COVID-19 test trial for passengers arriving at the country's largest airport to help persuade the federal government to end stringent quarantine rules that have crippled air travel, a Raymond James analyst said in a note. Transport Canada and Public Health Agency Canada referred questions about the note to each other. | MONTREAL, Aug 27 (Reuters) - Air Canada AC.TO is planning a voluntary COVID-19 test trial for passengers arriving at the country's largest airport to help persuade the federal government to end stringent quarantine rules that have crippled air travel, a Raymond James analyst said in a note. The trial comes with the hope that "the data collected will convince the government to take more of a science-based approach with the 14-day quarantine requirement waived or reduced for those with successful (negative) tests," Raymond James analyst Savanthi Syth said in the note on Tuesday. Transport Canada and Public Health Agency Canada referred questions about the note to each other. | MONTREAL, Aug 27 (Reuters) - Air Canada AC.TO is planning a voluntary COVID-19 test trial for passengers arriving at the country's largest airport to help persuade the federal government to end stringent quarantine rules that have crippled air travel, a Raymond James analyst said in a note. The trial comes with the hope that "the data collected will convince the government to take more of a science-based approach with the 14-day quarantine requirement waived or reduced for those with successful (negative) tests," Raymond James analyst Savanthi Syth said in the note on Tuesday. Transport Canada and Public Health Agency Canada referred questions about the note to each other. |
35114.0 | 2020-08-27 00:00:00 UTC | TSX gains on upbeat trade data, Fed's new approach | AC | https://www.nasdaq.com/articles/tsx-gains-on-upbeat-trade-data-feds-new-approach-2020-08-27 | nan | nan | Aug 27 (Reuters) - Canada's main stock index rose on Thursday, lifted by tentative signs of a rebound in domestic trade activity, while U.S. Federal Reserve Chair Jerome Powell's new aggressive strategy to support the U.S. economy further bolstered sentiment.
* Canada's current account deficit narrowed to C$8.63 billion in the second quarter from a revised C$13.22 billion deficit in the first quarter, on a lower trade deficit on both goods and services, Statistics Canada said.
* Adding to the upward spiral, Powell rolled out a new strategy to restore the United States to full employment and lift inflation back to healthier levels.
* At 0943 a.m. ET (1343 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 37.43 points, or 0.22%, at 16,827.4.
* The financials sector .SPTTFS gained 1% as Toronto-Dominion Bank TD.TO and Canadian Imperial Bank of Commerce CM.TO jumped 1.2% and 1.8%, respectively, after both lenders topped analysts' expectations for the third quarter.
* The energy sector .SPTTEN fell 0.5% as U.S. crude CLc1 prices were down 0.3% a barrel, while Brent crude LCOc1 lost 0.5%. 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 1.6% to $1,972.5 an ounce. GOL/
* On the TSX, 111 issues were higher, while 103 issues declined for a 1.08-to-1 ratio favouring gainers, with 19.66 million shares traded.
* The largest percentage gainer in the TSX was Tricon Residential Inc , which jumped 6.1% after Blackstone Real Estate Income Trust, Inc agreed to invest $300 million in the rental housing company.
* BRP Inc rose 5.1% after the all-terrain vehicle maker reported a surprise second-quarter profit.
* Gold miner Equinox Gold Corp fell 2.8%, the most in the TSX index, while the second-biggest decliner was Real Matters Inc , down 2.3%.
* The most heavily traded shares by volume were Sun Life Financial Inc , Northern Dynasty Minerals Ltd and Air Canada .
* The TSX posted three new 52-week highs and no new lows.
* Across all Canadian issues, there were 41 new 52-week highs and six new lows, with total volume of 35.29 million shares.
(Reporting by Amal S in Bengaluru, Editing by Sherry Jacob-Phillips)
((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. | Aug 27 (Reuters) - Canada's main stock index rose on Thursday, lifted by tentative signs of a rebound in domestic trade activity, while U.S. Federal Reserve Chair Jerome Powell's new aggressive strategy to support the U.S. economy further bolstered sentiment. * Adding to the upward spiral, Powell rolled out a new strategy to restore the United States to full employment and lift inflation back to healthier levels. * The largest percentage gainer in the TSX was Tricon Residential Inc , which jumped 6.1% after Blackstone Real Estate Income Trust, Inc agreed to invest $300 million in the rental housing company. | Aug 27 (Reuters) - Canada's main stock index rose on Thursday, lifted by tentative signs of a rebound in domestic trade activity, while U.S. Federal Reserve Chair Jerome Powell's new aggressive strategy to support the U.S. economy further bolstered sentiment. * Across all Canadian issues, there were 41 new 52-week highs and six new lows, with total volume of 35.29 million shares. * Canada's current account deficit narrowed to C$8.63 billion in the second quarter from a revised C$13.22 billion deficit in the first quarter, on a lower trade deficit on both goods and services, Statistics Canada said. | Aug 27 (Reuters) - Canada's main stock index rose on Thursday, lifted by tentative signs of a rebound in domestic trade activity, while U.S. Federal Reserve Chair Jerome Powell's new aggressive strategy to support the U.S. economy further bolstered sentiment. * Canada's current account deficit narrowed to C$8.63 billion in the second quarter from a revised C$13.22 billion deficit in the first quarter, on a lower trade deficit on both goods and services, Statistics Canada said. * Adding to the upward spiral, Powell rolled out a new strategy to restore the United States to full employment and lift inflation back to healthier levels. | * Across all Canadian issues, there were 41 new 52-week highs and six new lows, with total volume of 35.29 million shares. Aug 27 (Reuters) - Canada's main stock index rose on Thursday, lifted by tentative signs of a rebound in domestic trade activity, while U.S. Federal Reserve Chair Jerome Powell's new aggressive strategy to support the U.S. economy further bolstered sentiment. * Canada's current account deficit narrowed to C$8.63 billion in the second quarter from a revised C$13.22 billion deficit in the first quarter, on a lower trade deficit on both goods and services, Statistics Canada said. |
35115.0 | 2020-08-24 00:00:00 UTC | TSX rises 0.66% to 16,626.64 | AC | https://www.nasdaq.com/articles/tsx-rises-0.66-to-16626.64-2020-08-24 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.66 percent to 16,626.64
* Leading the index were NFI Group Inc , up 6.8%, Methanex Corp MX.TO, up 6.5%, and Sleep Country Canada Holdings Inc ZZZ.TO, higher by 6.1%.
* Lagging shares were Aurinia Pharmaceuticals Inc AUP.TO, down 6.3%, Real Matters Inc REAL.TO, down 4.1%, and Enghouse Systems Ltd ENGH.TO, lower by 2.9%.
* On the TSX 136 issues rose and 83 fell as a 1.6-to-1 ratio favored advancers. There were 10 new highs and no new lows, with total volume of 182.9 million shares.
* The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Manulife Financial Corp MFC.TO.
* The TSX's energy group .SPTTEN rose 3.43 points, or 4.3%, while the financials sector .SPTTFS climbed 4.51 points, or 1.7%.
* West Texas Intermediate crude futures CLc1 rose 0.12%, or $0.05, to $42.39 a barrel. Brent crude LCOc1 rose 1.51%, or $0.67, to $45.01 O/R
* The TSX is off 2.6% 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. | * Lagging shares were Aurinia Pharmaceuticals Inc AUP.TO, down 6.3%, Real Matters Inc REAL.TO, down 4.1%, and Enghouse Systems Ltd ENGH.TO, lower by 2.9%. * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Manulife Financial Corp MFC.TO. * The Toronto Stock Exchange's TSX rises 0.66 percent to 16,626.64 * Leading the index were NFI Group Inc , up 6.8%, Methanex Corp MX.TO, up 6.5%, and Sleep Country Canada Holdings Inc ZZZ.TO, higher by 6.1%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Manulife Financial Corp MFC.TO. * Lagging shares were Aurinia Pharmaceuticals Inc AUP.TO, down 6.3%, Real Matters Inc REAL.TO, down 4.1%, and Enghouse Systems Ltd ENGH.TO, lower by 2.9%. * The TSX's energy group .SPTTEN rose 3.43 points, or 4.3%, while the financials sector .SPTTFS climbed 4.51 points, or 1.7%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Manulife Financial Corp MFC.TO. * Lagging shares were Aurinia Pharmaceuticals Inc AUP.TO, down 6.3%, Real Matters Inc REAL.TO, down 4.1%, and Enghouse Systems Ltd ENGH.TO, lower by 2.9%. * The Toronto Stock Exchange's TSX rises 0.66 percent to 16,626.64 * Leading the index were NFI Group Inc , up 6.8%, Methanex Corp MX.TO, up 6.5%, and Sleep Country Canada Holdings Inc ZZZ.TO, higher by 6.1%. | * Lagging shares were Aurinia Pharmaceuticals Inc AUP.TO, down 6.3%, Real Matters Inc REAL.TO, down 4.1%, and Enghouse Systems Ltd ENGH.TO, lower by 2.9%. * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Air Canada AC.TO and Manulife Financial Corp MFC.TO. * The Toronto Stock Exchange's TSX rises 0.66 percent to 16,626.64 * Leading the index were NFI Group Inc , up 6.8%, Methanex Corp MX.TO, up 6.5%, and Sleep Country Canada Holdings Inc ZZZ.TO, higher by 6.1%. |
35116.0 | 2020-08-04 00:00:00 UTC | CANADA STOCKS-TSX futures rise on firmer gold prices | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-rise-on-firmer-gold-prices-2020-08-04 | nan | nan | August 04 (Reuters) - Canada's main stock index futures rose on Tuesday, supported by firmer gold prices as worries over mounting coronavirus cases across the world boosted demand for the safe haven asset.
Gold prices gained 0.3%, indicating investors' appetite for the yellow metal amid an uncertain market phase. GOL/
September futures on the S&P/TSX index SXFc1 were up 1.12% at 7:00 a.m. ET.
Investors will be watching out Canada's manufacturing sales data for July, which is due at 08:30 a.m. ET.
On Friday, Toronto Stock Exchange S&P/TSX composite index .GSPTSE closed 0.79% lower at 16,169.2.
Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.04% at 7:00 a.m. ET. S&P 500 e-mini futures ESc1 were down 0.15% and Nasdaq 100 e-mini futures NQc1 were down 0.18%. .N
TOP STORIES TOP/CAN
Bausch Health Companies Inc BHC.TO has agreed to pay $45 million, and three of former top executives also agreed to penalties, to settle charges of improper revenue recognition and misleading disclosures in U.S. regulatory filings, the U.S. Securities and Exchange Commission (SEC) said on Friday
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Air Canada AC.TO: Atb Capital cuts target price to C$31 from C$37
Dundee Precious Metals Inc DPM.TO: CIBC raises target price to C$12.50 from C$10.50
Pembina Pipeline PPL.TO: Jefferies initiates coverage of the stock with "hold" and a price target of C$34
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1975.4; +0.3% GOL/
US crude CLc1: $40.41; -1.46% O/R
Brent crude LCOc1: $43.51; -1.45% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0945 ISM-New York Index for Jul: Prior 806.0
0945 ISM New York Business Conditions for Jul: Prior 39.5
1000 Durables ex-defense, R mm for Jun: Prior 9.2%
1000 Durable goods, R mm for Jun: Prior 7.3%
1000 Factory orders mm for Jun: Expected 5.0%; Prior 8.0%
1000 Durables ex-transport R mm for Jun: Prior 3.3%
1000 Nondefense cap ex-air R mm for Jun: Prior 3.3%
1000 Factory ex-transport mm for Jun: Prior 2.6%
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$1.34)
(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. | August 04 (Reuters) - Canada's main stock index futures rose on Tuesday, supported by firmer gold prices as worries over mounting coronavirus cases across the world boosted demand for the safe haven asset. Investors will be watching out Canada's manufacturing sales data for July, which is due at 08:30 a.m. Air Canada AC.TO: Atb Capital cuts target price to C$31 from C$37 Dundee Precious Metals Inc DPM.TO: CIBC raises target price to C$12.50 from C$10.50 Pembina Pipeline PPL.TO: Jefferies initiates coverage of the stock with "hold" and a price target of C$34 COMMODITIES AT 7:00 a.m. | August 04 (Reuters) - Canada's main stock index futures rose on Tuesday, supported by firmer gold prices as worries over mounting coronavirus cases across the world boosted demand for the safe haven asset. 0945 ISM-New York Index for Jul: Prior 806.0 0945 ISM New York Business Conditions for Jul: Prior 39.5 1000 Durables ex-defense, R mm for Jun: Prior 9.2% 1000 Durable goods, R mm for Jun: Prior 7.3% 1000 Factory orders mm for Jun: Expected 5.0%; Prior 8.0% 1000 Durables ex-transport R mm for Jun: Prior 3.3% 1000 Nondefense cap ex-air R mm for Jun: Prior 3.3% 1000 Factory ex-transport mm for Jun: Prior 2.6% Investors will be watching out Canada's manufacturing sales data for July, which is due at 08:30 a.m. | August 04 (Reuters) - Canada's main stock index futures rose on Tuesday, supported by firmer gold prices as worries over mounting coronavirus cases across the world boosted demand for the safe haven asset. Air Canada AC.TO: Atb Capital cuts target price to C$31 from C$37 Dundee Precious Metals Inc DPM.TO: CIBC raises target price to C$12.50 from C$10.50 Pembina Pipeline PPL.TO: Jefferies initiates coverage of the stock with "hold" and a price target of C$34 COMMODITIES AT 7:00 a.m. 0945 ISM-New York Index for Jul: Prior 806.0 0945 ISM New York Business Conditions for Jul: Prior 39.5 1000 Durables ex-defense, R mm for Jun: Prior 9.2% 1000 Durable goods, R mm for Jun: Prior 7.3% 1000 Factory orders mm for Jun: Expected 5.0%; Prior 8.0% 1000 Durables ex-transport R mm for Jun: Prior 3.3% 1000 Nondefense cap ex-air R mm for Jun: Prior 3.3% 1000 Factory ex-transport mm for Jun: Prior 2.6% | August 04 (Reuters) - Canada's main stock index futures rose on Tuesday, supported by firmer gold prices as worries over mounting coronavirus cases across the world boosted demand for the safe haven asset. Investors will be watching out Canada's manufacturing sales data for July, which is due at 08:30 a.m. Air Canada AC.TO: Atb Capital cuts target price to C$31 from C$37 Dundee Precious Metals Inc DPM.TO: CIBC raises target price to C$12.50 from C$10.50 Pembina Pipeline PPL.TO: Jefferies initiates coverage of the stock with "hold" and a price target of C$34 COMMODITIES AT 7:00 a.m. |
35117.0 | 2020-08-02 00:00:00 UTC | Australia's Infigen forecasts "materially lower" earnings | AC | https://www.nasdaq.com/articles/australias-infigen-forecasts-materially-lower-earnings-2020-08-02 | nan | nan | Recasts and updates throughout with more detail from company statement
Aug 3 (Reuters) - Australian takeover target Infigen Energy IFN.AX on Monday warned revenue and earnings would be "materially lower" in the current financial year as it grapples with a substantial drop in wholesale electricity prices due to the coronavirus crisis.
Infigen, which is the focus of a bidding war between Spanish utility firm Iberdrola IBE.MC and Philippine conglomerate Ayala Corp AC.PS, also suspended the payment of dividends indefinitely.
"The effect of the economic crisis created by COVID-19 is expected to result in continuing low electricity prices resulting from lower overall demand and oversupply," Infigen said in a statement.
The wind and solar firm said that oversupply was being exacerbated by delays to generator maintenance because of coronavirus-spurred movement restrictions.
"The short-term effect ... is an expected reduction in the net revenue and net income of Infigen’s renewable energy assets and fast-start, firming assets," the company said.
"Infigen believes that there will be a return to normal operating conditions once the COVID-19 pandemic is contained and that the inexorable exit of thermal generation will continue," it added.
In the statement ahead of detailed 2020 fiscal year earnings due on Aug. 20, Infigen said it expected to book non-cash losses of A$15 million to A$20 million on its contracted assets as well as non-cash losses of A$17 million to A$19 million resulting from interest rate swaps on loans.
Infigen said it continued to support Iberdrola's bid. The Spanish company last month raised its offer price to A$0.92 per share, or around A$893.1 million ($637.94 million). Fellow suitor has held its offer at A$0.86 per share.
($1 = 1.4002 Australian dollars)
(Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Jacqueline Wong and Jane Wardell)
((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. | Infigen, which is the focus of a bidding war between Spanish utility firm Iberdrola IBE.MC and Philippine conglomerate Ayala Corp AC.PS, also suspended the payment of dividends indefinitely. The wind and solar firm said that oversupply was being exacerbated by delays to generator maintenance because of coronavirus-spurred movement restrictions. In the statement ahead of detailed 2020 fiscal year earnings due on Aug. 20, Infigen said it expected to book non-cash losses of A$15 million to A$20 million on its contracted assets as well as non-cash losses of A$17 million to A$19 million resulting from interest rate swaps on loans. | In the statement ahead of detailed 2020 fiscal year earnings due on Aug. 20, Infigen said it expected to book non-cash losses of A$15 million to A$20 million on its contracted assets as well as non-cash losses of A$17 million to A$19 million resulting from interest rate swaps on loans. Infigen, which is the focus of a bidding war between Spanish utility firm Iberdrola IBE.MC and Philippine conglomerate Ayala Corp AC.PS, also suspended the payment of dividends indefinitely. The wind and solar firm said that oversupply was being exacerbated by delays to generator maintenance because of coronavirus-spurred movement restrictions. | In the statement ahead of detailed 2020 fiscal year earnings due on Aug. 20, Infigen said it expected to book non-cash losses of A$15 million to A$20 million on its contracted assets as well as non-cash losses of A$17 million to A$19 million resulting from interest rate swaps on loans. Infigen, which is the focus of a bidding war between Spanish utility firm Iberdrola IBE.MC and Philippine conglomerate Ayala Corp AC.PS, also suspended the payment of dividends indefinitely. The wind and solar firm said that oversupply was being exacerbated by delays to generator maintenance because of coronavirus-spurred movement restrictions. | Infigen, which is the focus of a bidding war between Spanish utility firm Iberdrola IBE.MC and Philippine conglomerate Ayala Corp AC.PS, also suspended the payment of dividends indefinitely. In the statement ahead of detailed 2020 fiscal year earnings due on Aug. 20, Infigen said it expected to book non-cash losses of A$15 million to A$20 million on its contracted assets as well as non-cash losses of A$17 million to A$19 million resulting from interest rate swaps on loans. The wind and solar firm said that oversupply was being exacerbated by delays to generator maintenance because of coronavirus-spurred movement restrictions. |
35118.0 | 2020-07-31 00:00:00 UTC | TSX falls on dismal second-quarter GDP estimate, poor earnings | AC | https://www.nasdaq.com/articles/tsx-falls-on-dismal-second-quarter-gdp-estimate-poor-earnings-2020-07-31 | nan | nan | July 31 (Reuters) - Canada's main stock index fell on Friday after data estimated the domestic economy likely shrank at a record pace in the second quarter, with sentiment also dented by poor earnings reports from Air Canada and Imperial Oil.
* The nation's real gross domestic product (GDP) is likely to have plunged by a record 12% in the second quarter, with the period heavily impacted by broad coronavirus shutdowns, Statistics Canada said in flash estimate.
* Shares of Air Canada AC.TO fell 2.4% after it posted a loss for the second quarter, while those of Imperial Oil IMO.TO ticked down 1.6% after it reported a second-straight quarterly loss.
* At 9:41 a.m. ET (13:41 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 64.27 points, or 0.39%, at 16,235.02.
* The energy sector .SPTTEN was unchanged even though U.S. crude CLc1 prices were up 1.2% a barrel, while Brent crude LCOc1 added 0.8%. O/R
* The consumer cyclicals sector .GSPTTCD fell 1.17%, leading losses in the region, while the financials sector .SPTTFS slipped 0.8%. The industrials sector .GSPTTIN fell 0.8%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 0.6% as gold futures GCc1 rose 0.7% to $1,956.5 an ounce. GOL/
* On the TSX, 67 issues were higher, while 152 issues declined for a 2.27-to-1 ratio to the downside, with 12.41 million shares traded.
* The largest percentage gainer on the TSX was Dundee Precious Metals Inc , which jumped 7.4%, after posting second-quarter profits above estimates.
* Its gains were followed by electric utility provider Brookfield Renewable Partners L.P. , which rose 4.6%.
* SNC-Lavalin Group Inc fell 5.6%, the most on the TSX, after the construction company posted disappointing quarterly results.
* The second-biggest decliner was utility provider Canadian Utilities Ltd , down 3.3%, after brokerage RBC cut price target for the stock.
* The most heavily traded shares by volume were Bombardier Inc , up 2.2%; Air Canada , down 2.4% and Kinross Gold Corp , up 2%.
* The TSX posted five new 52-week highs and no new lows.
* Across all Canadian issues there were 22 new 52-week highs and one new low, with total volume of 27.25 million shares.
(Reporting by Amal S in Bengaluru; Editing by Aditya Soni)
((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 nation's real gross domestic product (GDP) is likely to have plunged by a record 12% in the second quarter, with the period heavily impacted by broad coronavirus shutdowns, Statistics Canada said in flash estimate. July 31 (Reuters) - Canada's main stock index fell on Friday after data estimated the domestic economy likely shrank at a record pace in the second quarter, with sentiment also dented by poor earnings reports from Air Canada and Imperial Oil. * Shares of Air Canada AC.TO fell 2.4% after it posted a loss for the second quarter, while those of Imperial Oil IMO.TO ticked down 1.6% after it reported a second-straight quarterly loss. | July 31 (Reuters) - Canada's main stock index fell on Friday after data estimated the domestic economy likely shrank at a record pace in the second quarter, with sentiment also dented by poor earnings reports from Air Canada and Imperial Oil. * Shares of Air Canada AC.TO fell 2.4% after it posted a loss for the second quarter, while those of Imperial Oil IMO.TO ticked down 1.6% after it reported a second-straight quarterly loss. * The nation's real gross domestic product (GDP) is likely to have plunged by a record 12% in the second quarter, with the period heavily impacted by broad coronavirus shutdowns, Statistics Canada said in flash estimate. | July 31 (Reuters) - Canada's main stock index fell on Friday after data estimated the domestic economy likely shrank at a record pace in the second quarter, with sentiment also dented by poor earnings reports from Air Canada and Imperial Oil. * Shares of Air Canada AC.TO fell 2.4% after it posted a loss for the second quarter, while those of Imperial Oil IMO.TO ticked down 1.6% after it reported a second-straight quarterly loss. * The nation's real gross domestic product (GDP) is likely to have plunged by a record 12% in the second quarter, with the period heavily impacted by broad coronavirus shutdowns, Statistics Canada said in flash estimate. | July 31 (Reuters) - Canada's main stock index fell on Friday after data estimated the domestic economy likely shrank at a record pace in the second quarter, with sentiment also dented by poor earnings reports from Air Canada and Imperial Oil. * Shares of Air Canada AC.TO fell 2.4% after it posted a loss for the second quarter, while those of Imperial Oil IMO.TO ticked down 1.6% after it reported a second-straight quarterly loss. * The nation's real gross domestic product (GDP) is likely to have plunged by a record 12% in the second quarter, with the period heavily impacted by broad coronavirus shutdowns, Statistics Canada said in flash estimate. |
35119.0 | 2020-07-31 00:00:00 UTC | TSX futures slip ahead of GDP data | AC | https://www.nasdaq.com/articles/tsx-futures-slip-ahead-of-gdp-data-2020-07-31 | nan | nan | July 31 (Reuters) - Futures for Canada's main stock slid on Friday, ahead of the release of the country's economic growth data later in the session.
The July 6-9 Reuters poll of 32 economists predicted the quarter through June to look a bit worse, shrinking 40% compared with 37.5% predicted in a poll taken two months back. The data is due at 8:30 a.m. ET.
That follows a report on Thursday showing the U.S. economy suffered its biggest blow since the Great Depression in the second quarter as the COVID-19 pandemic shattered consumer and business spending.
September futures on the S&P/TSX index SXFc1 were down 0.27% at 7:00 a.m. ET.
On Thursday, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1.09% higher at 16,299.29.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.17% at 7:00 a.m. ET. S&P 500 e-mini futures ESc1 were up 0.15% and Nasdaq 100 e-mini futures NQc1 were up 0.94%. .N
TOP STORIES TOP/CAN
Air Canada AC.TO reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Intact Financial Corp IFC.TO: CIBC raises target price to C$155 from C$140 Lundin Mining Corp LUN.TO: RBC cuts rating to "sector perform" from "outperform"
Tervita Corp TEV.TO: ATB Capital Markets raises rating to "outperform" from "sector perform"
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1974.1; +1.26% GOL/
US crude CLc1: $40.19; +0.63% O/R
Brent crude LCOc1: $43.28; +0.79% O/R
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Personal income mm for Jun: Expected -0.5%; Prior -4.2%
0830 Personal consumption real mm for Jun: Prior 8.1%
0830 Consumption, adjusted mm for Jun: Expected 5.5%; Prior 8.2%
0830 Core PCE price index mm for Jun: Expected 0.2%; Prior 0.1%
0830 Core PCE price index yy for Jun: Expected 1.0%; Prior 1.0%
0830 PCE price index mm for Jun: Prior 0.1%
0830 PCE price index yy for Jun: Prior 0.5%
0830 Employment wages QQ for Q2: Prior 0.9%
0830 Employment benefits QQ for Q2: Prior 0.4%
0830 Employment costs for Q2: Expected 0.6%; Prior 0.8%
0945 Chicago PMI for Jul: Expected 43.9; Prior 36.6
1000 U Mich Sentiment Final for Jul: Expected 73.0; Prior 73.2
1000 U Mich Conditions Final for Jul: Prior 84.2
1000 U Mich Expectations Final for Jul: Prior 66.2
1000 U Mich 1 year inflation final for Jul: Prior 3.1%
1000 U Mich 5-year inflation final for Jul: Prior 2.7%
1200 Dallas fed PCE for Jun: Prior 1.5%
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$1.34)
(Reporting by Amal S in Bengaluru; Editing by Aditya Soni and 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. | Air Canada AC.TO reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand The July 6-9 Reuters poll of 32 economists predicted the quarter through June to look a bit worse, shrinking 40% compared with 37.5% predicted in a poll taken two months back. Intact Financial Corp IFC.TO: CIBC raises target price to C$155 from C$140 Lundin Mining Corp LUN.TO: RBC cuts rating to "sector perform" from "outperform" Tervita Corp TEV.TO: ATB Capital Markets raises rating to "outperform" from "sector perform" COMMODITIES AT 7:00 a.m. | Intact Financial Corp IFC.TO: CIBC raises target price to C$155 from C$140 Lundin Mining Corp LUN.TO: RBC cuts rating to "sector perform" from "outperform" Tervita Corp TEV.TO: ATB Capital Markets raises rating to "outperform" from "sector perform" COMMODITIES AT 7:00 a.m. The July 6-9 Reuters poll of 32 economists predicted the quarter through June to look a bit worse, shrinking 40% compared with 37.5% predicted in a poll taken two months back. Air Canada AC.TO reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand | The July 6-9 Reuters poll of 32 economists predicted the quarter through June to look a bit worse, shrinking 40% compared with 37.5% predicted in a poll taken two months back. Air Canada AC.TO reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand Intact Financial Corp IFC.TO: CIBC raises target price to C$155 from C$140 Lundin Mining Corp LUN.TO: RBC cuts rating to "sector perform" from "outperform" Tervita Corp TEV.TO: ATB Capital Markets raises rating to "outperform" from "sector perform" COMMODITIES AT 7:00 a.m. | The July 6-9 Reuters poll of 32 economists predicted the quarter through June to look a bit worse, shrinking 40% compared with 37.5% predicted in a poll taken two months back. Air Canada AC.TO reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand Intact Financial Corp IFC.TO: CIBC raises target price to C$155 from C$140 Lundin Mining Corp LUN.TO: RBC cuts rating to "sector perform" from "outperform" Tervita Corp TEV.TO: ATB Capital Markets raises rating to "outperform" from "sector perform" COMMODITIES AT 7:00 a.m. |
35120.0 | 2020-07-31 00:00:00 UTC | Air Canada posts quarterly loss as COVID-19 hammers demand | AC | https://www.nasdaq.com/articles/air-canada-posts-quarterly-loss-as-covid-19-hammers-demand-2020-07-31 | nan | nan | July 31 (Reuters) - Air Canada AC.TO reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand.
Canada's largest carrier said net loss was C$1.75 billion ($1.30 billion), or C$6.44 per share, in the quarter ended June 30, compared with a profit of C$343 million, or C$1.26 per share, a year earlier.
Total revenue plunged 89% to C$527 million.
($1 = 1.3418 Canadian dollars)
(Reporting By Allison Lampert in Montreal and Sanjana Shivdas in Bengaluru; Editing by Aditya Soni)
((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. | July 31 (Reuters) - Air Canada AC.TO reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand. Canada's largest carrier said net loss was C$1.75 billion ($1.30 billion), or C$6.44 per share, in the quarter ended June 30, compared with a profit of C$343 million, or C$1.26 per share, a year earlier. ($1 = 1.3418 Canadian dollars) (Reporting By Allison Lampert in Montreal and Sanjana Shivdas in Bengaluru; Editing by Aditya Soni) ((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. | July 31 (Reuters) - Air Canada AC.TO reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand. Canada's largest carrier said net loss was C$1.75 billion ($1.30 billion), or C$6.44 per share, in the quarter ended June 30, compared with a profit of C$343 million, or C$1.26 per share, a year earlier. ($1 = 1.3418 Canadian dollars) (Reporting By Allison Lampert in Montreal and Sanjana Shivdas in Bengaluru; Editing by Aditya Soni) ((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. | July 31 (Reuters) - Air Canada AC.TO reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand. Canada's largest carrier said net loss was C$1.75 billion ($1.30 billion), or C$6.44 per share, in the quarter ended June 30, compared with a profit of C$343 million, or C$1.26 per share, a year earlier. ($1 = 1.3418 Canadian dollars) (Reporting By Allison Lampert in Montreal and Sanjana Shivdas in Bengaluru; Editing by Aditya Soni) ((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. | July 31 (Reuters) - Air Canada AC.TO reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand. Canada's largest carrier said net loss was C$1.75 billion ($1.30 billion), or C$6.44 per share, in the quarter ended June 30, compared with a profit of C$343 million, or C$1.26 per share, a year earlier. Total revenue plunged 89% to C$527 million. |
35121.0 | 2020-07-29 00:00:00 UTC | European air executives urge Canada to safely restore travel | AC | https://www.nasdaq.com/articles/european-air-executives-urge-canada-to-safely-restore-travel-2020-07-29 | nan | nan | By Allison Lampert
MONTREAL, July 29 (Reuters) - European airline and airport executives urged the Canadian government this week to allow a safe "restoration of travel" between Canada and Europe, adding industry pressure on Ottawa to remove coronavirus-related restrictions that have discouraged international air travel.
In a letter dated July 27, top executives of nearly a dozen European airlines and airports, warned that "since many EU (European Union) countries and Switzerland require reciprocity to re-establish access, Canada's continued entry restriction and quarantine requirements are becoming problematic."
The content of the letter, sent to Canadian Prime Minister Justin Trudeau and other government ministers, was reviewed by Reuters.
The EU has taken steps in recent weeks to relax travel requirements both internally and towards citizens of select other countries, including Canada, although Britain reintroduced a 14-day quarantine this week for arrivals from Spain.
Canada's borders are closed to all non-citizens except for essential workers. Canadians who enter the country from abroad must self-isolate for two weeks.
Trudeau has dismissed repeated calls from Air Canada AC.TO to relax air travel restrictions to select countries.
The July 27 letter was signed by executives from Air France-KLM AIRF.PA and Germany's Lufthansa Group LHAG.DE, among others.
Trudeau's office and Air France-KLM were not immediately available for comment.
"Canada should look to remove the restrictions on travel to European Union and Swiss nationals and allow for a safe, cautious and sensible restoration of travel between two important trading partners," the executives said in the letter.
"Just as the EU has recognized Canada's successes in managing the pandemic, so too must Canada recognize the EU's."
Executives pointed out that the EU and Switzerland are "safe jurisdictions" with many countries having lower infection rates than Canada.
"Canada has made tremendous strides during the pandemic but it cannot remain isolated forever."
(Reporting by Allison Lampert in Montreal Additional reporting by Laurence Frost in Paris and Steve Scherer in Ottawa Editing by Paul Simao and Bernadette Baum)
((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. | In a letter dated July 27, top executives of nearly a dozen European airlines and airports, warned that "since many EU (European Union) countries and Switzerland require reciprocity to re-establish access, Canada's continued entry restriction and quarantine requirements are becoming problematic." Trudeau has dismissed repeated calls from Air Canada AC.TO to relax air travel restrictions to select countries. By Allison Lampert MONTREAL, July 29 (Reuters) - European airline and airport executives urged the Canadian government this week to allow a safe "restoration of travel" between Canada and Europe, adding industry pressure on Ottawa to remove coronavirus-related restrictions that have discouraged international air travel. | In a letter dated July 27, top executives of nearly a dozen European airlines and airports, warned that "since many EU (European Union) countries and Switzerland require reciprocity to re-establish access, Canada's continued entry restriction and quarantine requirements are becoming problematic." Trudeau has dismissed repeated calls from Air Canada AC.TO to relax air travel restrictions to select countries. By Allison Lampert MONTREAL, July 29 (Reuters) - European airline and airport executives urged the Canadian government this week to allow a safe "restoration of travel" between Canada and Europe, adding industry pressure on Ottawa to remove coronavirus-related restrictions that have discouraged international air travel. | In a letter dated July 27, top executives of nearly a dozen European airlines and airports, warned that "since many EU (European Union) countries and Switzerland require reciprocity to re-establish access, Canada's continued entry restriction and quarantine requirements are becoming problematic." Trudeau has dismissed repeated calls from Air Canada AC.TO to relax air travel restrictions to select countries. By Allison Lampert MONTREAL, July 29 (Reuters) - European airline and airport executives urged the Canadian government this week to allow a safe "restoration of travel" between Canada and Europe, adding industry pressure on Ottawa to remove coronavirus-related restrictions that have discouraged international air travel. | In a letter dated July 27, top executives of nearly a dozen European airlines and airports, warned that "since many EU (European Union) countries and Switzerland require reciprocity to re-establish access, Canada's continued entry restriction and quarantine requirements are becoming problematic." Trudeau has dismissed repeated calls from Air Canada AC.TO to relax air travel restrictions to select countries. By Allison Lampert MONTREAL, July 29 (Reuters) - European airline and airport executives urged the Canadian government this week to allow a safe "restoration of travel" between Canada and Europe, adding industry pressure on Ottawa to remove coronavirus-related restrictions that have discouraged international air travel. |
35122.0 | 2020-07-29 00:00:00 UTC | European air executives press Canada for safe return of travel | AC | https://www.nasdaq.com/articles/european-air-executives-press-canada-for-safe-return-of-travel-2020-07-29 | nan | nan | By Allison Lampert
MONTREAL, July 29 (Reuters) - European airline and airport executives this week urged the Canadian government to allow a safe "restoration of travel" between Canada and Europe, increasing industry pressure on Ottawa to remove coronavirus-related restrictions that have discouraged international air travel.
In a letter dated July 27, top executives of nearly a dozen European airlines and airports, warned that "since many EU (European Union) countries and Switzerland require reciprocity to re-establish access, Canada's continued entry restriction and quarantine requirements are becoming problematic."
The content of the letter, which was sent to Canadian Prime Minister Justin Trudeau and other government ministers, was reviewed by Reuters.
The EU has taken steps in recent weeks to relax travel requirements both internally and towards citizens of select other countries, including Canada, although Britain reintroduced a 14-day quarantine this week for arrivals from Spain.
Canada has largely kept its borders closed for non-essential travel with the United States, its key trading partner, amid a rise in U.S. coronavirus cases. The restrictions also have been maintained for citizens from other countries with lower infection rates.
Trudeau has dismissed repeated calls from Air Canada AC.TO to relax air travel restrictions to select countries.
The July 27 letter was signed by executives from Air France-KLM AIRF.PA and Germany's Lufthansa Group LHAG.DE, among others.
Trudeau's office and Air France-KLM were not immediately available for comment.
"Canada should look to remove the restrictions on travel to European Union and Swiss nationals and allow for a safe, cautious and sensible restoration of travel between two important trading partners," the executives said in the letter.
(Reporting by Allison Lampert in Montreal Additional reporting by Laurence Frost in Paris and Steve Scherer in Ottawa Editing by Paul Simao)
((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. | In a letter dated July 27, top executives of nearly a dozen European airlines and airports, warned that "since many EU (European Union) countries and Switzerland require reciprocity to re-establish access, Canada's continued entry restriction and quarantine requirements are becoming problematic." Trudeau has dismissed repeated calls from Air Canada AC.TO to relax air travel restrictions to select countries. By Allison Lampert MONTREAL, July 29 (Reuters) - European airline and airport executives this week urged the Canadian government to allow a safe "restoration of travel" between Canada and Europe, increasing industry pressure on Ottawa to remove coronavirus-related restrictions that have discouraged international air travel. | Trudeau has dismissed repeated calls from Air Canada AC.TO to relax air travel restrictions to select countries. In a letter dated July 27, top executives of nearly a dozen European airlines and airports, warned that "since many EU (European Union) countries and Switzerland require reciprocity to re-establish access, Canada's continued entry restriction and quarantine requirements are becoming problematic." By Allison Lampert MONTREAL, July 29 (Reuters) - European airline and airport executives this week urged the Canadian government to allow a safe "restoration of travel" between Canada and Europe, increasing industry pressure on Ottawa to remove coronavirus-related restrictions that have discouraged international air travel. | In a letter dated July 27, top executives of nearly a dozen European airlines and airports, warned that "since many EU (European Union) countries and Switzerland require reciprocity to re-establish access, Canada's continued entry restriction and quarantine requirements are becoming problematic." Trudeau has dismissed repeated calls from Air Canada AC.TO to relax air travel restrictions to select countries. By Allison Lampert MONTREAL, July 29 (Reuters) - European airline and airport executives this week urged the Canadian government to allow a safe "restoration of travel" between Canada and Europe, increasing industry pressure on Ottawa to remove coronavirus-related restrictions that have discouraged international air travel. | In a letter dated July 27, top executives of nearly a dozen European airlines and airports, warned that "since many EU (European Union) countries and Switzerland require reciprocity to re-establish access, Canada's continued entry restriction and quarantine requirements are becoming problematic." Trudeau has dismissed repeated calls from Air Canada AC.TO to relax air travel restrictions to select countries. By Allison Lampert MONTREAL, July 29 (Reuters) - European airline and airport executives this week urged the Canadian government to allow a safe "restoration of travel" between Canada and Europe, increasing industry pressure on Ottawa to remove coronavirus-related restrictions that have discouraged international air travel. |
35123.0 | 2020-07-23 00:00:00 UTC | Iberdrola offer for Australia's Infigen worth $635 mln now after condition met | AC | https://www.nasdaq.com/articles/iberdrola-offer-for-australias-infigen-worth-%24635-mln-now-after-condition-met-2020-07-23 | nan | nan | July 24 (Reuters) - Spain's Iberdrola IBE.MC said on Friday it received further acceptances from shareholders for its takeover of Australian wind and solar firm Infigen Energy IFN.AX, meeting a condition that would see the offer price increase by 3 cents.
With the increase announced earlier this week conditional on acceptances of a further 13%, Infigen shareholders will now receive A$0.92 per share from the Spanish utility firm hoping to finalise the deal after a month-long battle with Philippine conglomerate Ayala Corp AC.PS.
The Spanish firm's twice-improve improved offer with the backing of Infigen now stands at A$893.1 million ($634.28 million) and comes around a week after Ayala said it would not improve its bid.
Iberdrola said it now holds 38.06% of Infigen following the 13.5% of acceptances received on Thursday.
($1 = 1.4081 Australian dollars)
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Muralikumar Anantharaman)
((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN; +91 806 182 2724;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | July 24 (Reuters) - Spain's Iberdrola IBE.MC said on Friday it received further acceptances from shareholders for its takeover of Australian wind and solar firm Infigen Energy IFN.AX, meeting a condition that would see the offer price increase by 3 cents. With the increase announced earlier this week conditional on acceptances of a further 13%, Infigen shareholders will now receive A$0.92 per share from the Spanish utility firm hoping to finalise the deal after a month-long battle with Philippine conglomerate Ayala Corp AC.PS. The Spanish firm's twice-improve improved offer with the backing of Infigen now stands at A$893.1 million ($634.28 million) and comes around a week after Ayala said it would not improve its bid. | July 24 (Reuters) - Spain's Iberdrola IBE.MC said on Friday it received further acceptances from shareholders for its takeover of Australian wind and solar firm Infigen Energy IFN.AX, meeting a condition that would see the offer price increase by 3 cents. With the increase announced earlier this week conditional on acceptances of a further 13%, Infigen shareholders will now receive A$0.92 per share from the Spanish utility firm hoping to finalise the deal after a month-long battle with Philippine conglomerate Ayala Corp AC.PS. The Spanish firm's twice-improve improved offer with the backing of Infigen now stands at A$893.1 million ($634.28 million) and comes around a week after Ayala said it would not improve its bid. | July 24 (Reuters) - Spain's Iberdrola IBE.MC said on Friday it received further acceptances from shareholders for its takeover of Australian wind and solar firm Infigen Energy IFN.AX, meeting a condition that would see the offer price increase by 3 cents. With the increase announced earlier this week conditional on acceptances of a further 13%, Infigen shareholders will now receive A$0.92 per share from the Spanish utility firm hoping to finalise the deal after a month-long battle with Philippine conglomerate Ayala Corp AC.PS. The Spanish firm's twice-improve improved offer with the backing of Infigen now stands at A$893.1 million ($634.28 million) and comes around a week after Ayala said it would not improve its bid. | July 24 (Reuters) - Spain's Iberdrola IBE.MC said on Friday it received further acceptances from shareholders for its takeover of Australian wind and solar firm Infigen Energy IFN.AX, meeting a condition that would see the offer price increase by 3 cents. With the increase announced earlier this week conditional on acceptances of a further 13%, Infigen shareholders will now receive A$0.92 per share from the Spanish utility firm hoping to finalise the deal after a month-long battle with Philippine conglomerate Ayala Corp AC.PS. The Spanish firm's twice-improve improved offer with the backing of Infigen now stands at A$893.1 million ($634.28 million) and comes around a week after Ayala said it would not improve its bid. |
35124.0 | 2020-07-16 00:00:00 UTC | TSX falls 0.24% to 16,024.50 | AC | https://www.nasdaq.com/articles/tsx-falls-0.24-to-16024.50-2020-07-16 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.24 percent to 16,024.50
* Leading the index were Intertape Polymer Group Inc , up 5.1%, Cineplex Inc CGX.TO, up 3.8%, and Sleep Country Canada Holdings Inc ZZZ.TO, higher by 3.3%.
* Lagging shares were Ballard Power Systems Inc BLDP.TO, down 6.3%, Aurora Cannabis Inc ACB.TO, down 5.3%, and First Quantum Minerals Ltd FM.TO, lower by 4.0%.
* On the TSX 70 issues rose and 146 fell as a 0.5-to-1 ratio favored decliners. There were 9 new highs and no new lows, with total volume of 174.6 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, B2gold Corp BTO.TO and Algonquin Power & Utilities Corp AQN.TO.
* The TSX's energy group .SPTTEN fell 0.91 points, or 1.2%, while the financials sector .SPTTFS climbed 0.21 points, or 0.1%.
* West Texas Intermediate crude futures CLc1 fell 1.14%, or $0.47, to $40.73 a barrel. Brent crude LCOc1 fell 0.94%, or $0.41, to $43.38 O/R
* The TSX is off 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. | * Lagging shares were Ballard Power Systems Inc BLDP.TO, down 6.3%, Aurora Cannabis Inc ACB.TO, down 5.3%, and First Quantum Minerals Ltd FM.TO, lower by 4.0%. * The most heavily traded shares by volume were Air Canada AC.TO, B2gold Corp BTO.TO and Algonquin Power & Utilities Corp AQN.TO. * The Toronto Stock Exchange's TSX falls 0.24 percent to 16,024.50 * Leading the index were Intertape Polymer Group Inc , up 5.1%, Cineplex Inc CGX.TO, up 3.8%, and Sleep Country Canada Holdings Inc ZZZ.TO, higher by 3.3%. | * The most heavily traded shares by volume were Air Canada AC.TO, B2gold Corp BTO.TO and Algonquin Power & Utilities Corp AQN.TO. * Lagging shares were Ballard Power Systems Inc BLDP.TO, down 6.3%, Aurora Cannabis Inc ACB.TO, down 5.3%, and First Quantum Minerals Ltd FM.TO, lower by 4.0%. * The TSX's energy group .SPTTEN fell 0.91 points, or 1.2%, while the financials sector .SPTTFS climbed 0.21 points, or 0.1%. | * The most heavily traded shares by volume were Air Canada AC.TO, B2gold Corp BTO.TO and Algonquin Power & Utilities Corp AQN.TO. * Lagging shares were Ballard Power Systems Inc BLDP.TO, down 6.3%, Aurora Cannabis Inc ACB.TO, down 5.3%, and First Quantum Minerals Ltd FM.TO, lower by 4.0%. * The Toronto Stock Exchange's TSX falls 0.24 percent to 16,024.50 * Leading the index were Intertape Polymer Group Inc , up 5.1%, Cineplex Inc CGX.TO, up 3.8%, and Sleep Country Canada Holdings Inc ZZZ.TO, higher by 3.3%. | * Lagging shares were Ballard Power Systems Inc BLDP.TO, down 6.3%, Aurora Cannabis Inc ACB.TO, down 5.3%, and First Quantum Minerals Ltd FM.TO, lower by 4.0%. * The most heavily traded shares by volume were Air Canada AC.TO, B2gold Corp BTO.TO and Algonquin Power & Utilities Corp AQN.TO. * The Toronto Stock Exchange's TSX falls 0.24 percent to 16,024.50 * Leading the index were Intertape Polymer Group Inc , up 5.1%, Cineplex Inc CGX.TO, up 3.8%, and Sleep Country Canada Holdings Inc ZZZ.TO, higher by 3.3%. |
35125.0 | 2020-07-15 00:00:00 UTC | TSX rises 0.97% to 16,063.33 | AC | https://www.nasdaq.com/articles/tsx-rises-0.97-to-16063.33-2020-07-15 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.97 percent to 16,063.33
* Leading the index were Air Canada , up 13.8%, Sleep Country Canada Holdings Inc ZZZ.TO, up 12.9%, and Cronos Group Inc CRON.TO, higher by 9.1%.
* Lagging shares were CCL Industries Inc CCLb.TO, down 2.5%, Shopify Inc SHOP.TO, down 2.2%, and Lundin Gold Inc LUG.TO, lower by 1.8%.
* On the TSX 184 issues rose and 37 fell as a 5-to-1 ratio favored advancers. There were 7 new highs and no new lows, with total volume of 238.7 million shares.
* The most heavily traded shares by volume were Toronto-dominion Bank TD.TO, Royal Bank Of Canada RY.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN rose 1.62 points, or 2.1%, while the financials sector .SPTTFS climbed 3.46 points, or 1.3%.
* West Texas Intermediate crude futures CLc1 rose 1.74%, or $0.7, to $40.99 a barrel. Brent crude LCOc1 rose 1.75%, or $0.75, to $43.65 O/R
* The TSX is off 5.9% 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 Toronto-dominion Bank TD.TO, Royal Bank Of Canada RY.TO and Air Canada AC.TO. * Lagging shares were CCL Industries Inc CCLb.TO, down 2.5%, Shopify Inc SHOP.TO, down 2.2%, and Lundin Gold Inc LUG.TO, lower by 1.8%. * On the TSX 184 issues rose and 37 fell as a 5-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Toronto-dominion Bank TD.TO, Royal Bank Of Canada RY.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.97 percent to 16,063.33 * Leading the index were Air Canada , up 13.8%, Sleep Country Canada Holdings Inc ZZZ.TO, up 12.9%, and Cronos Group Inc CRON.TO, higher by 9.1%. * The TSX's energy group .SPTTEN rose 1.62 points, or 2.1%, while the financials sector .SPTTFS climbed 3.46 points, or 1.3%. | * The most heavily traded shares by volume were Toronto-dominion Bank TD.TO, Royal Bank Of Canada RY.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.97 percent to 16,063.33 * Leading the index were Air Canada , up 13.8%, Sleep Country Canada Holdings Inc ZZZ.TO, up 12.9%, and Cronos Group Inc CRON.TO, higher by 9.1%. * The TSX's energy group .SPTTEN rose 1.62 points, or 2.1%, while the financials sector .SPTTFS climbed 3.46 points, or 1.3%. | * The most heavily traded shares by volume were Toronto-dominion Bank TD.TO, Royal Bank Of Canada RY.TO and Air Canada AC.TO. * Lagging shares were CCL Industries Inc CCLb.TO, down 2.5%, Shopify Inc SHOP.TO, down 2.2%, and Lundin Gold Inc LUG.TO, lower by 1.8%. * On the TSX 184 issues rose and 37 fell as a 5-to-1 ratio favored advancers. |
35126.0 | 2020-07-15 00:00:00 UTC | As Canada nears zero COVID-19 deaths, officials fear reopening spike, U.S. risk | AC | https://www.nasdaq.com/articles/as-canada-nears-zero-covid-19-deaths-officials-fear-reopening-spike-u.s.-risk-2020-07-15-0 | nan | nan | By David Ljunggren and Allison Lampert
OTTAWA/MONTREAL, July 15 (Reuters) - Canada's efforts to flatten the curve of coronavirus cases have put the country on the cusp of zero deaths from COVID-19 for the first time since March, but officials see worrying signs of a new spike as provinces lift restrictions.
For months, Canadians followed strict public health rules on social movement as the 10 provinces quickly shut down large parts of the economy, ramped up testing and boosted space in intensive care units.
Some provinces curbed internal journeys while Ottawa barred international visitors, closed the land border to non-essential travel with the United States, which has become a global pandemic epicenter, and deployed military staff to hard-hit nursing homes.
Canadian deaths edged up eight to 8,798 according to government data late Tuesday, while the total number of cases grew by 331, to 108,486. By contrast, the United States recently set a one-day record in new cases with 60,500 as the national death toll rose to more than 135,000.
But health experts and politicians fret that the sacrifices Canadians made could be imperiled as the economy moves to a full reopening including schools, especially in heavily populated central Canada, and as U.S. authorities struggle to contain the spread south of the border.
"Everyone is preparing for a potential spike in cases. ... I think that's inevitable," said Dr. Isaac Bogoch, an infectious disease specialist at Toronto General Hospital.
"Opening up the economy is not a linear path. There will be setbacks (and) we will very likely have to reimpose public health restrictions in certain areas because of an unacceptable number of new cases."
Quebec's coronavirus cases are starting to rise and public health officials have tracked outbreaks to house parties and a suburban Montreal bar. In Ontario, an outbreak at a nail salon forced hundreds into quarantine while British Columbia, which has reported few new deaths in recent weeks, is seeing an uptick in cases as people expand their social circles.
"We did so much work to keep the number of cases down," said Alex Magdzinski, a Montreal nurse who treated COVID-19 patients at a nursing home. "All healthcare workers are asking (people) is to put in a minimal effort."
Magdzinski said he is seeing repeated cases of people in Canada's second largest city abandoning social distancing measures.
Quebec has made wearing masks mandatory in indoor public spaces while other Canadian cities have enacted similar bylaws.
"We need only look south of the border to see how bad things could be," said Alberta Premier Jason Kenney on Monday, as he urged residents to "remain vigilant and disciplined" after large crowds gathered in parks and at a popular lake over the weekend.
Canadian provinces, most of them with right-leaning governments that normally oppose Liberal Prime Minister Justin Trudeau, have been working closely with Ottawa, in a coordinated approach to the outbreak.
In the United States, the response has been politicized with Republican President Donald Trump attacking opponents at the state and city level. Critics also complained the White House did a poor job of helping distribute crucial equipment.
"They've been reckless. They moved forward too quickly," Ontario Premier Doug Ford told reporters on Tuesday as the province gears up for its third and final stage of reopening .
The two nations have banned non-essential land travel since mid-March, but pressure is building on Trudeau from Canadian business leaders and U.S. lawmakers to loosen restrictions. Opinion polls show a large majority of Canadians, and provincial leaders, want the border to remain closed.
Air Canada AC.TOon Wednesday urged the Canadian government in a statement to replace quarantine restrictions on travelers from countries with a low COVID-19 risk with alternatives to curb the spread of the virus, although the carrier "is not proposing relaxing the U.S. border restrictions at this time."
This month, at least five incoming flights from cities in Florida, Texas and North Carolina had passengers with confirmed coronavirus cases aboard, according to Canadian government data.
"Don't get me wrong," said Ford. "I love the Americans. I don't want them up here right now."
(Additional reporting by Kelsey Johnson in Ottawa and Allison Martell and Moira Warburton in Toronto; editing by Diane Craft and Jonathan Oatis)
((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.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. | For months, Canadians followed strict public health rules on social movement as the 10 provinces quickly shut down large parts of the economy, ramped up testing and boosted space in intensive care units. But health experts and politicians fret that the sacrifices Canadians made could be imperiled as the economy moves to a full reopening including schools, especially in heavily populated central Canada, and as U.S. authorities struggle to contain the spread south of the border. Canadian deaths edged up eight to 8,798 according to government data late Tuesday, while the total number of cases grew by 331, to 108,486. | For months, Canadians followed strict public health rules on social movement as the 10 provinces quickly shut down large parts of the economy, ramped up testing and boosted space in intensive care units. Canadian deaths edged up eight to 8,798 according to government data late Tuesday, while the total number of cases grew by 331, to 108,486. But health experts and politicians fret that the sacrifices Canadians made could be imperiled as the economy moves to a full reopening including schools, especially in heavily populated central Canada, and as U.S. authorities struggle to contain the spread south of the border. | For months, Canadians followed strict public health rules on social movement as the 10 provinces quickly shut down large parts of the economy, ramped up testing and boosted space in intensive care units. Air Canada AC.TOon Wednesday urged the Canadian government in a statement to replace quarantine restrictions on travelers from countries with a low COVID-19 risk with alternatives to curb the spread of the virus, although the carrier "is not proposing relaxing the U.S. border restrictions at this time." Canadian deaths edged up eight to 8,798 according to government data late Tuesday, while the total number of cases grew by 331, to 108,486. | Canadian deaths edged up eight to 8,798 according to government data late Tuesday, while the total number of cases grew by 331, to 108,486. For months, Canadians followed strict public health rules on social movement as the 10 provinces quickly shut down large parts of the economy, ramped up testing and boosted space in intensive care units. But health experts and politicians fret that the sacrifices Canadians made could be imperiled as the economy moves to a full reopening including schools, especially in heavily populated central Canada, and as U.S. authorities struggle to contain the spread south of the border. |
35127.0 | 2020-07-09 00:00:00 UTC | Canadian COVID-19 training exemption sparks pushback from pilots | AC | https://www.nasdaq.com/articles/canadian-covid-19-training-exemption-sparks-pushback-from-pilots-2020-07-09 | nan | nan | By Allison Lampert
MONTREAL, July 9 (Reuters) - Canada's decision to allow some pilot training normally performed in simulators to be conducted in the air because of coronavirus is facing opposition from pilots afraid of increased risk in the cockpit.
Regulators globally are granting extensions on pilot medical licenses, along with exemptions for certain training requirements, as hard-hit carriers wrestle with slumping traffic which is expected to result in a $84 billion loss for the industry in 2020 because of the pandemic.
But pilots are specifically pushing back against short-term exemptions granted in June by regulator Transport Canada.
"Each exemption in itself may not significantly reduce safety but when combined with several other exemptions, it can result in a significant overall reduction of safety as well as fail to meet international standards," Air Line Pilots Association Canada President, Captain Tim Perry, told Reuters.
One exemption flagged by pilots allows proficiency checks, which are required training to fly planes, to be conducted on an airplane without passengers if a simulator is unavailable.
Such checks are safer to do in a simulator because pilots perform riskier maneuvers like an engine-failure after takeoff, said U.S. aviation consultant Kit Darby.
"There is some risk in those exemptions," he said.
The International Federation of Air Line Pilots' Associations (IFALPA) is "adamantly opposed" to planes being used for training normally conducted in a simulator, IFALPA training expert Captain Glen Finch said by email.
"The degradation in safety and reduced quality of training is unacceptable."
Transport Canada told Reuters on Wednesday it has provided considerable guidance for operators using the exemption to "enable the safe conduct of maneuvers such as an engine-failure after take-off."
The regulator added it was "unlikely" that large carriers like Air Canada AC.TO and Onex Corp-owned ONEX.TO WestJet would use this exemption because they have ready access to simulators.
Perry said the size of the carriers using the exemption did not matter because there should be "one level of safety for all."
(Reporting by Allison Lampert; Editing by Richard Chang)
((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, July 9 (Reuters) - Canada's decision to allow some pilot training normally performed in simulators to be conducted in the air because of coronavirus is facing opposition from pilots afraid of increased risk in the cockpit. But pilots are specifically pushing back against short-term exemptions granted in June by regulator Transport Canada. "Each exemption in itself may not significantly reduce safety but when combined with several other exemptions, it can result in a significant overall reduction of safety as well as fail to meet international standards," Air Line Pilots Association Canada President, Captain Tim Perry, told Reuters. | "Each exemption in itself may not significantly reduce safety but when combined with several other exemptions, it can result in a significant overall reduction of safety as well as fail to meet international standards," Air Line Pilots Association Canada President, Captain Tim Perry, told Reuters. By Allison Lampert MONTREAL, July 9 (Reuters) - Canada's decision to allow some pilot training normally performed in simulators to be conducted in the air because of coronavirus is facing opposition from pilots afraid of increased risk in the cockpit. But pilots are specifically pushing back against short-term exemptions granted in June by regulator Transport Canada. | By Allison Lampert MONTREAL, July 9 (Reuters) - Canada's decision to allow some pilot training normally performed in simulators to be conducted in the air because of coronavirus is facing opposition from pilots afraid of increased risk in the cockpit. "Each exemption in itself may not significantly reduce safety but when combined with several other exemptions, it can result in a significant overall reduction of safety as well as fail to meet international standards," Air Line Pilots Association Canada President, Captain Tim Perry, told Reuters. But pilots are specifically pushing back against short-term exemptions granted in June by regulator Transport Canada. | By Allison Lampert MONTREAL, July 9 (Reuters) - Canada's decision to allow some pilot training normally performed in simulators to be conducted in the air because of coronavirus is facing opposition from pilots afraid of increased risk in the cockpit. "Each exemption in itself may not significantly reduce safety but when combined with several other exemptions, it can result in a significant overall reduction of safety as well as fail to meet international standards," Air Line Pilots Association Canada President, Captain Tim Perry, told Reuters. But pilots are specifically pushing back against short-term exemptions granted in June by regulator Transport Canada. |
35128.0 | 2020-07-09 00:00:00 UTC | Canada's equity, debt deals rise as firms try to ride out virus crisis | AC | https://www.nasdaq.com/articles/canadas-equity-debt-deals-rise-as-firms-try-to-ride-out-virus-crisis-2020-07-09 | nan | nan | July 9 (Reuters) - Canada's capital market saw a rise in equity and debt deals in the first half of 2020, as companies fortified their balance sheets to deal with the economic slump sparked by the COVID-19 pandemic, but merger activity fell.
Equity market deals rose nearly 34% in the first six months of 2020 from a year earlier to about C$15.8 billion ($11.69 billion), according to Refinitiv data, as companies such as Shopify Inc SHOP.TO and Air Canada AC.TO raised cash.
Canadian companies also raised 67% more debt in the first half of the year, with total corporate debt touching C$158.6 billion, the data showed.
Mergers and acquisitions, however, fell about 63% to C$40 billion as the coronavirus crisis shuttered shops and factories and hammered demand for industries such as hospitality, tourism and retail.
($1 = 1.3516 Canadian dollars)
(Reporting by Neha Malara; Editing by Aditya Soni)
((neha.malara@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. | July 9 (Reuters) - Canada's capital market saw a rise in equity and debt deals in the first half of 2020, as companies fortified their balance sheets to deal with the economic slump sparked by the COVID-19 pandemic, but merger activity fell. Mergers and acquisitions, however, fell about 63% to C$40 billion as the coronavirus crisis shuttered shops and factories and hammered demand for industries such as hospitality, tourism and retail. Equity market deals rose nearly 34% in the first six months of 2020 from a year earlier to about C$15.8 billion ($11.69 billion), according to Refinitiv data, as companies such as Shopify Inc SHOP.TO and Air Canada AC.TO raised cash. | July 9 (Reuters) - Canada's capital market saw a rise in equity and debt deals in the first half of 2020, as companies fortified their balance sheets to deal with the economic slump sparked by the COVID-19 pandemic, but merger activity fell. Equity market deals rose nearly 34% in the first six months of 2020 from a year earlier to about C$15.8 billion ($11.69 billion), according to Refinitiv data, as companies such as Shopify Inc SHOP.TO and Air Canada AC.TO raised cash. Mergers and acquisitions, however, fell about 63% to C$40 billion as the coronavirus crisis shuttered shops and factories and hammered demand for industries such as hospitality, tourism and retail. | July 9 (Reuters) - Canada's capital market saw a rise in equity and debt deals in the first half of 2020, as companies fortified their balance sheets to deal with the economic slump sparked by the COVID-19 pandemic, but merger activity fell. Equity market deals rose nearly 34% in the first six months of 2020 from a year earlier to about C$15.8 billion ($11.69 billion), according to Refinitiv data, as companies such as Shopify Inc SHOP.TO and Air Canada AC.TO raised cash. Mergers and acquisitions, however, fell about 63% to C$40 billion as the coronavirus crisis shuttered shops and factories and hammered demand for industries such as hospitality, tourism and retail. | Equity market deals rose nearly 34% in the first six months of 2020 from a year earlier to about C$15.8 billion ($11.69 billion), according to Refinitiv data, as companies such as Shopify Inc SHOP.TO and Air Canada AC.TO raised cash. Mergers and acquisitions, however, fell about 63% to C$40 billion as the coronavirus crisis shuttered shops and factories and hammered demand for industries such as hospitality, tourism and retail. July 9 (Reuters) - Canada's capital market saw a rise in equity and debt deals in the first half of 2020, as companies fortified their balance sheets to deal with the economic slump sparked by the COVID-19 pandemic, but merger activity fell. |
35129.0 | 2020-07-08 00:00:00 UTC | Air Canada assesses Spartan Bioscience's COVID-19 testing technology | AC | https://www.nasdaq.com/articles/air-canada-assesses-spartan-biosciences-covid-19-testing-technology-2020-07-08-0 | nan | nan | Adds details on Spartan's testing technology
July 8 (Reuters) - Air Canada AC.TO said on Wednesday it was working with Spartan Bioscience Inc to assess using the Ottawa-based biotechnology company's portable COVID-19 testing technology in the aviation sector.
Spartan has been developing a proprietary swab for collecting DNA samples for its COVID-19 test, but the use of its test cartridge and the portable DNA analyzer device is subject to Canada's healthcare regulator's approval, Air Canada said.
The country's largest carrier would work with Spartan "in the weeks and months ahead" before an accurate, portable molecular test for COVID-19 is made available, the company said.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli and Vinay Dwivedi)
((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;))
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 Spartan's testing technology July 8 (Reuters) - Air Canada AC.TO said on Wednesday it was working with Spartan Bioscience Inc to assess using the Ottawa-based biotechnology company's portable COVID-19 testing technology in the aviation sector. The country's largest carrier would work with Spartan "in the weeks and months ahead" before an accurate, portable molecular test for COVID-19 is made available, the company said. Spartan has been developing a proprietary swab for collecting DNA samples for its COVID-19 test, but the use of its test cartridge and the portable DNA analyzer device is subject to Canada's healthcare regulator's approval, Air Canada said. | Adds details on Spartan's testing technology July 8 (Reuters) - Air Canada AC.TO said on Wednesday it was working with Spartan Bioscience Inc to assess using the Ottawa-based biotechnology company's portable COVID-19 testing technology in the aviation sector. The country's largest carrier would work with Spartan "in the weeks and months ahead" before an accurate, portable molecular test for COVID-19 is made available, the company said. Spartan has been developing a proprietary swab for collecting DNA samples for its COVID-19 test, but the use of its test cartridge and the portable DNA analyzer device is subject to Canada's healthcare regulator's approval, Air Canada said. | Adds details on Spartan's testing technology July 8 (Reuters) - Air Canada AC.TO said on Wednesday it was working with Spartan Bioscience Inc to assess using the Ottawa-based biotechnology company's portable COVID-19 testing technology in the aviation sector. The country's largest carrier would work with Spartan "in the weeks and months ahead" before an accurate, portable molecular test for COVID-19 is made available, the company said. Spartan has been developing a proprietary swab for collecting DNA samples for its COVID-19 test, but the use of its test cartridge and the portable DNA analyzer device is subject to Canada's healthcare regulator's approval, Air Canada said. | Adds details on Spartan's testing technology July 8 (Reuters) - Air Canada AC.TO said on Wednesday it was working with Spartan Bioscience Inc to assess using the Ottawa-based biotechnology company's portable COVID-19 testing technology in the aviation sector. The country's largest carrier would work with Spartan "in the weeks and months ahead" before an accurate, portable molecular test for COVID-19 is made available, the company said. Spartan has been developing a proprietary swab for collecting DNA samples for its COVID-19 test, but the use of its test cartridge and the portable DNA analyzer device is subject to Canada's healthcare regulator's approval, Air Canada said. |
35130.0 | 2020-07-08 00:00:00 UTC | Air Canada assesses Spartan Bioscience's COVID-19 testing technology | AC | https://www.nasdaq.com/articles/air-canada-assesses-spartan-biosciences-covid-19-testing-technology-2020-07-08 | nan | nan | July 8 (Reuters) - Air Canada AC.TO said on Wednesday it was working with Spartan Bioscience Inc to assess the deployment of Ottawa-based biotechnology company's portable COVID-19 testing technology in the aviation sector.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli)
((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | July 8 (Reuters) - Air Canada AC.TO said on Wednesday it was working with Spartan Bioscience Inc to assess the deployment of Ottawa-based biotechnology company's portable COVID-19 testing technology in the aviation sector. (Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli) ((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | July 8 (Reuters) - Air Canada AC.TO said on Wednesday it was working with Spartan Bioscience Inc to assess the deployment of Ottawa-based biotechnology company's portable COVID-19 testing technology in the aviation sector. (Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli) ((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | July 8 (Reuters) - Air Canada AC.TO said on Wednesday it was working with Spartan Bioscience Inc to assess the deployment of Ottawa-based biotechnology company's portable COVID-19 testing technology in the aviation sector. (Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli) ((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | July 8 (Reuters) - Air Canada AC.TO said on Wednesday it was working with Spartan Bioscience Inc to assess the deployment of Ottawa-based biotechnology company's portable COVID-19 testing technology in the aviation sector. (Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli) ((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
35131.0 | 2020-07-07 00:00:00 UTC | Philippine consortium drops $2 bln airport project | AC | https://www.nasdaq.com/articles/philippine-consortium-drops-%242-bln-airport-project-2020-07-07 | nan | nan | MANILA, July 7 (Reuters) - A consortium of six of the Philippines' biggest conglomerates on Tuesday dropped a proposal to upgrade and operate the country's main airport, as the impacts of the coronavirus hit the viability of the $2 billion project.
Modernising the ageing and congested Manila airport was among the largest projects of President Rodrigo Duterte's $180 billion "build, build, build" planned infrastructure overhaul, his signature economic policy.
The consortium said it reviewed its plans in light of the impact of the coronavirus on global travel and proposed to the government changes to ensure the Ninoy Aquino International Airport (NAIA) project was viable.
"Unfortunately, the government indicated that it is not willing to accept most of the consortium's proposed options and the consortium can only move forward with the NAIA project under the options it has proposed," the group said in a statement.
The consortium comprised units of JG Summit Holdings Inc JGS.PS, Alliance Global Group Inc AGI.PS, Filinvest Development Corp FDC.PS, Aboitiz Equity Ventures Inc AEV.PS, Ayala Corp AC.PS and LT Group Inc LTG.PS.
The withdrawal will be another blow to Duterte's hopes of bettering his predecessors and delivering on urgently needed infrastructure, with doubts over several other projects long before the coronavirus hit, and time running out before he must leave office in 2022.
The economic planning agency, which approves big-ticket projects including the NAIA upgrade, did not respond to requests for comment.
In 2018, the consortium proposed a 350 billion pesos ($7 billion) plan to modernise the over-stretched international airport and operate it for 35 years. It revised that offer a year later to a $2 billion, 15-year concession.
Airlines passengers suffer chronic delays because of congestion in Manila's airport. But operations have been minimal since March when the government implemented travel bans and lockdown measures to help contain the spread of the virus.
(Reporting by Neil Jerome Morales; Editing by Martin Petty)
((neiljerome.morales@thomsonreuters.com; +632 8841 8914;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | MANILA, July 7 (Reuters) - A consortium of six of the Philippines' biggest conglomerates on Tuesday dropped a proposal to upgrade and operate the country's main airport, as the impacts of the coronavirus hit the viability of the $2 billion project. The consortium said it reviewed its plans in light of the impact of the coronavirus on global travel and proposed to the government changes to ensure the Ninoy Aquino International Airport (NAIA) project was viable. "Unfortunately, the government indicated that it is not willing to accept most of the consortium's proposed options and the consortium can only move forward with the NAIA project under the options it has proposed," the group said in a statement. | The consortium said it reviewed its plans in light of the impact of the coronavirus on global travel and proposed to the government changes to ensure the Ninoy Aquino International Airport (NAIA) project was viable. MANILA, July 7 (Reuters) - A consortium of six of the Philippines' biggest conglomerates on Tuesday dropped a proposal to upgrade and operate the country's main airport, as the impacts of the coronavirus hit the viability of the $2 billion project. "Unfortunately, the government indicated that it is not willing to accept most of the consortium's proposed options and the consortium can only move forward with the NAIA project under the options it has proposed," the group said in a statement. | MANILA, July 7 (Reuters) - A consortium of six of the Philippines' biggest conglomerates on Tuesday dropped a proposal to upgrade and operate the country's main airport, as the impacts of the coronavirus hit the viability of the $2 billion project. The consortium said it reviewed its plans in light of the impact of the coronavirus on global travel and proposed to the government changes to ensure the Ninoy Aquino International Airport (NAIA) project was viable. "Unfortunately, the government indicated that it is not willing to accept most of the consortium's proposed options and the consortium can only move forward with the NAIA project under the options it has proposed," the group said in a statement. | The consortium said it reviewed its plans in light of the impact of the coronavirus on global travel and proposed to the government changes to ensure the Ninoy Aquino International Airport (NAIA) project was viable. "Unfortunately, the government indicated that it is not willing to accept most of the consortium's proposed options and the consortium can only move forward with the NAIA project under the options it has proposed," the group said in a statement. MANILA, July 7 (Reuters) - A consortium of six of the Philippines' biggest conglomerates on Tuesday dropped a proposal to upgrade and operate the country's main airport, as the impacts of the coronavirus hit the viability of the $2 billion project. |
35132.0 | 2020-07-03 00:00:00 UTC | TSX pares weekly gain as surging virus cases dim recovery hopes | AC | https://www.nasdaq.com/articles/tsx-pares-weekly-gain-as-surging-virus-cases-dim-recovery-hopes-2020-07-03 | nan | nan | Adds details throughout
July 3 (Reuters) - Canada's main stock index gave back a small part of this week's rally on Friday, as a record surge in COVID-19 cases in the United States raised fears of another round of lockdowns.
* The United States reported more than 55,000 new COVID-19 cases on Thursday, a new daily global record for the pandemic.
* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed down 0.2% at 15,596.75.
* With U.S. stock markets closed for a public holiday, trading volumes were lower than usual.
* For the week, the TSX was up 2.7%, helped by data showing early signs of an economic rebound from the pandemic-driven slump.
* The energy group retreated 0.4% on Friday as oil prices fell. U.S. crude futures CLc1 were down 0.8%. O/R
* Industrials fell 0.3 percent, while the heavily-weighted financials group slipped 0.1%.
* Canada's biggest lenders confirmed they had joined a widespread boycott of Facebook Inc FB.O begun by U.S. civil rights groups seeking to pressure the world's largest social media platform to take concrete steps to block hate speech.
*Canadian Prime Minister Justin Trudeau expressed disappointment at Air Canada's AC.TO decision to suspend some flights and said he hoped the carrier would restore services as the economy recovered. Air Canada's shares ended up 0.5%.
* Shares of entertainment and media company Cineplex Inc CGX.TO rose 7.5%, clawing back some of their recent decline.
* Declining issues outnumbered advancing ones on the TSX by 130 to 88, for a 1.48-to-1 ratio on the downside.
* The index was posting five new 52-week highs and no new lows.
(Reporting by Fergal Smith in Toronto and Sagarika Jaisinghani in Bengaluru Editing by Chris Reese Editing by Matthew Lewis and Marguerita Choy)
((fergal.smith@thomsonreuters.com; +1 416 941 8113;))
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 throughout July 3 (Reuters) - Canada's main stock index gave back a small part of this week's rally on Friday, as a record surge in COVID-19 cases in the United States raised fears of another round of lockdowns. * Canada's biggest lenders confirmed they had joined a widespread boycott of Facebook Inc FB.O begun by U.S. civil rights groups seeking to pressure the world's largest social media platform to take concrete steps to block hate speech. *Canadian Prime Minister Justin Trudeau expressed disappointment at Air Canada's AC.TO decision to suspend some flights and said he hoped the carrier would restore services as the economy recovered. | Adds details throughout July 3 (Reuters) - Canada's main stock index gave back a small part of this week's rally on Friday, as a record surge in COVID-19 cases in the United States raised fears of another round of lockdowns. * Canada's biggest lenders confirmed they had joined a widespread boycott of Facebook Inc FB.O begun by U.S. civil rights groups seeking to pressure the world's largest social media platform to take concrete steps to block hate speech. *Canadian Prime Minister Justin Trudeau expressed disappointment at Air Canada's AC.TO decision to suspend some flights and said he hoped the carrier would restore services as the economy recovered. | Adds details throughout July 3 (Reuters) - Canada's main stock index gave back a small part of this week's rally on Friday, as a record surge in COVID-19 cases in the United States raised fears of another round of lockdowns. * Canada's biggest lenders confirmed they had joined a widespread boycott of Facebook Inc FB.O begun by U.S. civil rights groups seeking to pressure the world's largest social media platform to take concrete steps to block hate speech. *Canadian Prime Minister Justin Trudeau expressed disappointment at Air Canada's AC.TO decision to suspend some flights and said he hoped the carrier would restore services as the economy recovered. | Adds details throughout July 3 (Reuters) - Canada's main stock index gave back a small part of this week's rally on Friday, as a record surge in COVID-19 cases in the United States raised fears of another round of lockdowns. * Canada's biggest lenders confirmed they had joined a widespread boycott of Facebook Inc FB.O begun by U.S. civil rights groups seeking to pressure the world's largest social media platform to take concrete steps to block hate speech. *Canadian Prime Minister Justin Trudeau expressed disappointment at Air Canada's AC.TO decision to suspend some flights and said he hoped the carrier would restore services as the economy recovered. |
35133.0 | 2020-07-03 00:00:00 UTC | Canada PM disappointed by Air Canada move to suspend domestic flights | AC | https://www.nasdaq.com/articles/canada-pm-disappointed-by-air-canada-move-to-suspend-domestic-flights-2020-07-03 | nan | nan | OTTAWA, July 3 (Reuters) - Canadian Prime Minister Justin Trudeau on Friday expressed disappointment at Air Canada's AC.TO decision to suspend some flights and said he hoped the carrier would restore services as the economy recovered.
The airline, Canada's largest, said on Tuesday it would halt flights on 30 domestic routes hit by persistent weak travel demand due to the COVID-19 pandemic. It is also closing eight stations at regional airports.
"We are obviously disappointed by the decision by Air Canada to cut services to some regions. We know Air Canada profits from the most profitable routes in the country but we expect them to serve ... people who live in more distant regions," Trudeau told a news conference.
"We hope they can gradually resume these services ... as the economy starts to recover," he said. Air Canada said on May 15 it would cut its workforce by up to 60%.
(Reporting by David Ljunggren; Editing by Daniel Wallis)
((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.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. | OTTAWA, July 3 (Reuters) - Canadian Prime Minister Justin Trudeau on Friday expressed disappointment at Air Canada's AC.TO decision to suspend some flights and said he hoped the carrier would restore services as the economy recovered. The airline, Canada's largest, said on Tuesday it would halt flights on 30 domestic routes hit by persistent weak travel demand due to the COVID-19 pandemic. (Reporting by David Ljunggren; Editing by Daniel Wallis) ((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.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. | OTTAWA, July 3 (Reuters) - Canadian Prime Minister Justin Trudeau on Friday expressed disappointment at Air Canada's AC.TO decision to suspend some flights and said he hoped the carrier would restore services as the economy recovered. "We are obviously disappointed by the decision by Air Canada to cut services to some regions. We know Air Canada profits from the most profitable routes in the country but we expect them to serve ... people who live in more distant regions," Trudeau told a news conference. | OTTAWA, July 3 (Reuters) - Canadian Prime Minister Justin Trudeau on Friday expressed disappointment at Air Canada's AC.TO decision to suspend some flights and said he hoped the carrier would restore services as the economy recovered. "We are obviously disappointed by the decision by Air Canada to cut services to some regions. We know Air Canada profits from the most profitable routes in the country but we expect them to serve ... people who live in more distant regions," Trudeau told a news conference. | OTTAWA, July 3 (Reuters) - Canadian Prime Minister Justin Trudeau on Friday expressed disappointment at Air Canada's AC.TO decision to suspend some flights and said he hoped the carrier would restore services as the economy recovered. The airline, Canada's largest, said on Tuesday it would halt flights on 30 domestic routes hit by persistent weak travel demand due to the COVID-19 pandemic. "We are obviously disappointed by the decision by Air Canada to cut services to some regions. |
35134.0 | 2020-06-30 00:00:00 UTC | Air Canada to suspend flights on 30 domestic routes due to pandemic hit | AC | https://www.nasdaq.com/articles/air-canada-to-suspend-flights-on-30-domestic-routes-due-to-pandemic-hit-2020-06-30 | nan | nan | June 30 (Reuters) - Air Canada AC.TO said on Tuesday it would suspend flights on 30 domestic routes hit by persistent weak travel demand due to the COVID-19 pandemic.
The carrier forecast third-quarter capacity would decline at least 75% from a year ago and warned that travel restrictions and border closures were dimming prospects for a near-to-mid- term recovery.
The company said it has reduced its workforce by about 20,000 employees, which represents more than 50% of its staff, and has permanently removed 79 aircraft from its fleet as it struggles with the fallout from the coronavirus outbreak.
Air Canada added that it was closing eight stations at regional airports in Canada.
As part of a cost reduction and capital deferral program, Air Canada said it has identified around $1.1 billion in savings to date.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Amy Caren Daniel)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 30 (Reuters) - Air Canada AC.TO said on Tuesday it would suspend flights on 30 domestic routes hit by persistent weak travel demand due to the COVID-19 pandemic. The carrier forecast third-quarter capacity would decline at least 75% from a year ago and warned that travel restrictions and border closures were dimming prospects for a near-to-mid- term recovery. The company said it has reduced its workforce by about 20,000 employees, which represents more than 50% of its staff, and has permanently removed 79 aircraft from its fleet as it struggles with the fallout from the coronavirus outbreak. | June 30 (Reuters) - Air Canada AC.TO said on Tuesday it would suspend flights on 30 domestic routes hit by persistent weak travel demand due to the COVID-19 pandemic. The carrier forecast third-quarter capacity would decline at least 75% from a year ago and warned that travel restrictions and border closures were dimming prospects for a near-to-mid- term recovery. Air Canada added that it was closing eight stations at regional airports in Canada. | June 30 (Reuters) - Air Canada AC.TO said on Tuesday it would suspend flights on 30 domestic routes hit by persistent weak travel demand due to the COVID-19 pandemic. The carrier forecast third-quarter capacity would decline at least 75% from a year ago and warned that travel restrictions and border closures were dimming prospects for a near-to-mid- term recovery. The company said it has reduced its workforce by about 20,000 employees, which represents more than 50% of its staff, and has permanently removed 79 aircraft from its fleet as it struggles with the fallout from the coronavirus outbreak. | June 30 (Reuters) - Air Canada AC.TO said on Tuesday it would suspend flights on 30 domestic routes hit by persistent weak travel demand due to the COVID-19 pandemic. The carrier forecast third-quarter capacity would decline at least 75% from a year ago and warned that travel restrictions and border closures were dimming prospects for a near-to-mid- term recovery. The company said it has reduced its workforce by about 20,000 employees, which represents more than 50% of its staff, and has permanently removed 79 aircraft from its fleet as it struggles with the fallout from the coronavirus outbreak. |
35135.0 | 2020-06-29 00:00:00 UTC | Australia's Infigen backs revised Iberdrola takeover offer | AC | https://www.nasdaq.com/articles/australias-infigen-backs-revised-iberdrola-takeover-offer-2020-06-29 | nan | nan | June 30 (Reuters) - Australian wind and solar firm Infigen Energy Ltd IFN.AX on Tuesday recommended an offer from Iberdrola IBE.MC to its shareholders, after the Spanish company waived most conditions from its A$856 million ($589 million) bid.
Iberdrola and rival Philippine conglomerate Ayala Corp AC.PS both raised their respective bids for Infigen on Monday, hoping to take control of its seven wind farms and a large pipeline of projects.
Ayala increased its offer for the Australian company to A$0.86 per share and declared it free of all conditions, while Iberdrola raised its bid to A$0.89.
Infigen said on Tuesday that Iberdrola had also waived the conditions on its bid, excluding the conditions that it receives approval from Australia's Foreign Investment Review Board (FIRB) and is accepted by more than half of Infigen shareholders.
Infigen said in a statement it expected both these conditions to be met, and urged shareholders to reject Ayala's takeover approach.
($1 = 1.4543 Australian dollars)
(Reporting by Shashwat Awasthi in Bengaluru; editing by Richard Pullin)
((Shashwat.Awasthi@thomsonreuters.com; +91 80 61822606;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Iberdrola and rival Philippine conglomerate Ayala Corp AC.PS both raised their respective bids for Infigen on Monday, hoping to take control of its seven wind farms and a large pipeline of projects. Infigen said in a statement it expected both these conditions to be met, and urged shareholders to reject Ayala's takeover approach. Infigen said on Tuesday that Iberdrola had also waived the conditions on its bid, excluding the conditions that it receives approval from Australia's Foreign Investment Review Board (FIRB) and is accepted by more than half of Infigen shareholders. | Infigen said on Tuesday that Iberdrola had also waived the conditions on its bid, excluding the conditions that it receives approval from Australia's Foreign Investment Review Board (FIRB) and is accepted by more than half of Infigen shareholders. Iberdrola and rival Philippine conglomerate Ayala Corp AC.PS both raised their respective bids for Infigen on Monday, hoping to take control of its seven wind farms and a large pipeline of projects. Infigen said in a statement it expected both these conditions to be met, and urged shareholders to reject Ayala's takeover approach. | Infigen said on Tuesday that Iberdrola had also waived the conditions on its bid, excluding the conditions that it receives approval from Australia's Foreign Investment Review Board (FIRB) and is accepted by more than half of Infigen shareholders. Iberdrola and rival Philippine conglomerate Ayala Corp AC.PS both raised their respective bids for Infigen on Monday, hoping to take control of its seven wind farms and a large pipeline of projects. Infigen said in a statement it expected both these conditions to be met, and urged shareholders to reject Ayala's takeover approach. | Iberdrola and rival Philippine conglomerate Ayala Corp AC.PS both raised their respective bids for Infigen on Monday, hoping to take control of its seven wind farms and a large pipeline of projects. Infigen said on Tuesday that Iberdrola had also waived the conditions on its bid, excluding the conditions that it receives approval from Australia's Foreign Investment Review Board (FIRB) and is accepted by more than half of Infigen shareholders. Infigen said in a statement it expected both these conditions to be met, and urged shareholders to reject Ayala's takeover approach. |
35136.0 | 2020-06-28 00:00:00 UTC | Iberdrola raises bid for Infigen as takeover race heats up | AC | https://www.nasdaq.com/articles/iberdrola-raises-bid-for-infigen-as-takeover-race-heats-up-2020-06-28 | nan | nan | Recasts with Iberdrola's new offer
June 29 (Reuters) - Spain's Iberdrola IBE.MC raised its bid for Infigen Energy IFN.AX by three cents a share on Monday, upping the ante in its race against Philippine conglomerate Ayala Corp AC.PS to buy the Australian renewables firm.
Iberdrola raised its offer price to A$0.89 per share, marginally above Infigen's Friday close of A$0.885, valuing the wind and solar firm at A$856.3 million ($587.6 million).
The increased offer came minutes after Ayala had declared its bid unconditional by removing riders proposed in its initial A$0.80 per share approach, which had irked Infigen.
The Australian company was already backing a higher, less conditional offer from Iberdrola before the Spanish company lodged a fresh bid on Monday.
Analysts had forecast a bidding war as the firms look to bag Infigen's seven wind farms and a large pipeline of projects which are currently on hold.
Its stock has jumped 50% since Ayala's bid on June 3 and continues to trade above the Philippine firm's offer price.
($1 = 1.4584 Australian dollars)
(Reporting by Shashwat Awasthi in Bengaluru; Editing by Muralikumar Anantharaman)
((Shashwat.Awasthi@thomsonreuters.com; +91 80 61822606;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The increased offer came minutes after Ayala had declared its bid unconditional by removing riders proposed in its initial A$0.80 per share approach, which had irked Infigen. Recasts with Iberdrola's new offer June 29 (Reuters) - Spain's Iberdrola IBE.MC raised its bid for Infigen Energy IFN.AX by three cents a share on Monday, upping the ante in its race against Philippine conglomerate Ayala Corp AC.PS to buy the Australian renewables firm. The Australian company was already backing a higher, less conditional offer from Iberdrola before the Spanish company lodged a fresh bid on Monday. | Recasts with Iberdrola's new offer June 29 (Reuters) - Spain's Iberdrola IBE.MC raised its bid for Infigen Energy IFN.AX by three cents a share on Monday, upping the ante in its race against Philippine conglomerate Ayala Corp AC.PS to buy the Australian renewables firm. The increased offer came minutes after Ayala had declared its bid unconditional by removing riders proposed in its initial A$0.80 per share approach, which had irked Infigen. The Australian company was already backing a higher, less conditional offer from Iberdrola before the Spanish company lodged a fresh bid on Monday. | Recasts with Iberdrola's new offer June 29 (Reuters) - Spain's Iberdrola IBE.MC raised its bid for Infigen Energy IFN.AX by three cents a share on Monday, upping the ante in its race against Philippine conglomerate Ayala Corp AC.PS to buy the Australian renewables firm. The Australian company was already backing a higher, less conditional offer from Iberdrola before the Spanish company lodged a fresh bid on Monday. The increased offer came minutes after Ayala had declared its bid unconditional by removing riders proposed in its initial A$0.80 per share approach, which had irked Infigen. | Recasts with Iberdrola's new offer June 29 (Reuters) - Spain's Iberdrola IBE.MC raised its bid for Infigen Energy IFN.AX by three cents a share on Monday, upping the ante in its race against Philippine conglomerate Ayala Corp AC.PS to buy the Australian renewables firm. The increased offer came minutes after Ayala had declared its bid unconditional by removing riders proposed in its initial A$0.80 per share approach, which had irked Infigen. The Australian company was already backing a higher, less conditional offer from Iberdrola before the Spanish company lodged a fresh bid on Monday. |
35137.0 | 2020-06-28 00:00:00 UTC | Ayala declares takeover bid for Australia's Infigen unconditional | AC | https://www.nasdaq.com/articles/ayala-declares-takeover-bid-for-australias-infigen-unconditional-2020-06-28 | nan | nan | June 29 (Reuters) - Philippine conglomerate Ayala Corp AC.PS said on Monday its offer for Infigen Energy IFN.AX is unconditional, as it competes with Spain's Iberdrola IBE.MC to buy the Australian renewables firm.
Infigen had earlier raised concerns about the offer made by UAC Energy Holdings, a joint venture of Ayala's AC Energy Philippines Inc ACEPH.PS and Hong Kong-based UPC Renewables Group, saying it was a highly conditional one.
Iberdrola subsequently made an agreed A$828 million ($567.8 million) bid for the wind and solar firm which was 7.5% higher with fewer conditions, prompting Infigen to urge its shareholders reject the UAC bid.
Analysts expect a bidding war for Infigen as the firms look to bag its seven wind farms and a large pipeline of projects which are currently on hold. Its stock has jumped 50% since UAC's bid on June 3 and continues to trade above both offer prices.
($1 = 1.4584 Australian dollars)
(Reporting by Shashwat Awasthi in Bengaluru; Editing by Muralikumar Anantharaman)
((Shashwat.Awasthi@thomsonreuters.com; +91 80 61822606;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 29 (Reuters) - Philippine conglomerate Ayala Corp AC.PS said on Monday its offer for Infigen Energy IFN.AX is unconditional, as it competes with Spain's Iberdrola IBE.MC to buy the Australian renewables firm. Its stock has jumped 50% since UAC's bid on June 3 and continues to trade above both offer prices. Infigen had earlier raised concerns about the offer made by UAC Energy Holdings, a joint venture of Ayala's AC Energy Philippines Inc ACEPH.PS and Hong Kong-based UPC Renewables Group, saying it was a highly conditional one. | June 29 (Reuters) - Philippine conglomerate Ayala Corp AC.PS said on Monday its offer for Infigen Energy IFN.AX is unconditional, as it competes with Spain's Iberdrola IBE.MC to buy the Australian renewables firm. Infigen had earlier raised concerns about the offer made by UAC Energy Holdings, a joint venture of Ayala's AC Energy Philippines Inc ACEPH.PS and Hong Kong-based UPC Renewables Group, saying it was a highly conditional one. Iberdrola subsequently made an agreed A$828 million ($567.8 million) bid for the wind and solar firm which was 7.5% higher with fewer conditions, prompting Infigen to urge its shareholders reject the UAC bid. | June 29 (Reuters) - Philippine conglomerate Ayala Corp AC.PS said on Monday its offer for Infigen Energy IFN.AX is unconditional, as it competes with Spain's Iberdrola IBE.MC to buy the Australian renewables firm. Infigen had earlier raised concerns about the offer made by UAC Energy Holdings, a joint venture of Ayala's AC Energy Philippines Inc ACEPH.PS and Hong Kong-based UPC Renewables Group, saying it was a highly conditional one. Iberdrola subsequently made an agreed A$828 million ($567.8 million) bid for the wind and solar firm which was 7.5% higher with fewer conditions, prompting Infigen to urge its shareholders reject the UAC bid. | June 29 (Reuters) - Philippine conglomerate Ayala Corp AC.PS said on Monday its offer for Infigen Energy IFN.AX is unconditional, as it competes with Spain's Iberdrola IBE.MC to buy the Australian renewables firm. Infigen had earlier raised concerns about the offer made by UAC Energy Holdings, a joint venture of Ayala's AC Energy Philippines Inc ACEPH.PS and Hong Kong-based UPC Renewables Group, saying it was a highly conditional one. Iberdrola subsequently made an agreed A$828 million ($567.8 million) bid for the wind and solar firm which was 7.5% higher with fewer conditions, prompting Infigen to urge its shareholders reject the UAC bid. |
35138.0 | 2020-06-25 00:00:00 UTC | TSX treads water as rising coronavirus cases offset gains in energy shares | AC | https://www.nasdaq.com/articles/tsx-treads-water-as-rising-coronavirus-cases-offset-gains-in-energy-shares-2020-06-25 | nan | nan | June 25 (Reuters) - Canada's main stock index struggled for direction on Thursday as worries over an alarming rise in coronavirus cases globally countered gains from a rise in oil prices.
In the United States, Florida, Oklahoma and South Carolina reported record increases in new cases on Wednesday, while Australia posted its biggest daily rise in two months.
* The energy sector .SPTTEN climbed 2.8% as U.S. crude CLc1 prices rose 1.2% a barrel, while Brent crude LCOc1 added 1.3%. O/R
* At 9:57 a.m. ET (14:07 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 16.47 points, or 0.11%, at 15,277.91 in choppy trade.
* The financials sector .SPTTFS gained 0.4%, while industrials .GSPTTIN fell 0.2%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.9% as gold futures GCc1 slipped 0.1% to $1,764.1 an ounce. GOL/
* On the TSX, 42 issues were higher, while 173 issues declined for a 4.12-to-1 ratio to the downside, with 11.19 million shares traded.
* The largest percentage gainers on the TSX were Northland Power Inc NPI.TO, which jumped 2.8% after BMO raised its target price.
* It was followed by Dream Office Real Estate Investment Trust D_u.TO, which rose 1.4% after National Bank Of Canada upgraded to "outperform" from "sector perform".
* Interfor Corp IFP.TO fell 5.0%, the most on the TSX, followed by NovaGold Resources Inc NG.TO, down 4.6%.
* The most heavily traded shares by volume were Bombardier Inc BBDb.TO (down 3.9%), Bonavista Energy Corp BNP.TO (down 9.1%) and Air Canada AC.TO (down 0.8%).
* The TSX posted one new 52-week high and no new low.
* Across all Canadian issues, there were four new 52-week highs and five new lows, with total volume of 26.27 million shares.
(Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila)
((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 most heavily traded shares by volume were Bombardier Inc BBDb.TO (down 3.9%), Bonavista Energy Corp BNP.TO (down 9.1%) and Air Canada AC.TO (down 0.8%). * Across all Canadian issues, there were four new 52-week highs and five new lows, with total volume of 26.27 million shares. In the United States, Florida, Oklahoma and South Carolina reported record increases in new cases on Wednesday, while Australia posted its biggest daily rise in two months. | * Across all Canadian issues, there were four new 52-week highs and five new lows, with total volume of 26.27 million shares. * The most heavily traded shares by volume were Bombardier Inc BBDb.TO (down 3.9%), Bonavista Energy Corp BNP.TO (down 9.1%) and Air Canada AC.TO (down 0.8%). * The energy sector .SPTTEN climbed 2.8% as U.S. crude CLc1 prices rose 1.2% a barrel, while Brent crude LCOc1 added 1.3%. | * The most heavily traded shares by volume were Bombardier Inc BBDb.TO (down 3.9%), Bonavista Energy Corp BNP.TO (down 9.1%) and Air Canada AC.TO (down 0.8%). * Across all Canadian issues, there were four new 52-week highs and five new lows, with total volume of 26.27 million shares. June 25 (Reuters) - Canada's main stock index struggled for direction on Thursday as worries over an alarming rise in coronavirus cases globally countered gains from a rise in oil prices. | * The most heavily traded shares by volume were Bombardier Inc BBDb.TO (down 3.9%), Bonavista Energy Corp BNP.TO (down 9.1%) and Air Canada AC.TO (down 0.8%). * Across all Canadian issues, there were four new 52-week highs and five new lows, with total volume of 26.27 million shares. June 25 (Reuters) - Canada's main stock index struggled for direction on Thursday as worries over an alarming rise in coronavirus cases globally countered gains from a rise in oil prices. |
35139.0 | 2020-06-23 00:00:00 UTC | CANADA STOCKS - TSX rises 0.31% to 15,564.75 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.31-to-15564.75-2020-06-23 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.31 percent to 15,564.75
* Leading the index were Ero Copper Corp , up 11.4%, MEG Energy Corp MEG.TO, up 7.8%, and Whitecap Resources Inc WCP.TO, higher by 6.6%.
* Lagging shares were Westshore Terminals Investment Corp WTE.TO, down 3.3%, Empire Company Ltd EMPa.TO, down 3.2%, and Pason Systems Inc PSI.TO, lower by 3.2%.
* On the TSX 141 issues rose and 78 fell as a 1.8-to-1 ratio favored advancers. There were 5 new highs and no new lows, with total volume of 219.1 million shares.
* The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Canadian Natural Resources Ltd CNQ.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN rose 1.69 points, or 2.2%, while the financials sector .SPTTFS climbed 0.86 points, or 0.3%.
* West Texas Intermediate crude futures CLc1 fell 1.74%, or $0.71, to $40.02 a barrel. Brent crude LCOc1 fell 1.72%, or $0.74, to $42.34 O/R
* The TSX is off 8.8% 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. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Canadian Natural Resources Ltd CNQ.TO and Air Canada AC.TO. * Lagging shares were Westshore Terminals Investment Corp WTE.TO, down 3.3%, Empire Company Ltd EMPa.TO, down 3.2%, and Pason Systems Inc PSI.TO, lower by 3.2%. * On the TSX 141 issues rose and 78 fell as a 1.8-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Canadian Natural Resources Ltd CNQ.TO and Air Canada AC.TO. * On the TSX 141 issues rose and 78 fell as a 1.8-to-1 ratio favored advancers. * The TSX's energy group .SPTTEN rose 1.69 points, or 2.2%, while the financials sector .SPTTFS climbed 0.86 points, or 0.3%. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Canadian Natural Resources Ltd CNQ.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.31 percent to 15,564.75 * Leading the index were Ero Copper Corp , up 11.4%, MEG Energy Corp MEG.TO, up 7.8%, and Whitecap Resources Inc WCP.TO, higher by 6.6%. * The TSX's energy group .SPTTEN rose 1.69 points, or 2.2%, while the financials sector .SPTTFS climbed 0.86 points, or 0.3%. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Canadian Natural Resources Ltd CNQ.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.31 percent to 15,564.75 * Leading the index were Ero Copper Corp , up 11.4%, MEG Energy Corp MEG.TO, up 7.8%, and Whitecap Resources Inc WCP.TO, higher by 6.6%. * On the TSX 141 issues rose and 78 fell as a 1.8-to-1 ratio favored advancers. |
35140.0 | 2020-06-23 00:00:00 UTC | TSX futures rise on higher oil prices | AC | https://www.nasdaq.com/articles/tsx-futures-rise-on-higher-oil-prices-2020-06-23 | nan | nan | Canada's main stock index future rose on Tuesday, helped by rising oil prices, while U.S. President Donald Trump's assurance on the trade deal with Beijing further bolstered sentiment.
"The China Trade Deal is fully intact. Hopefully, they will continue to live up to the terms of the Agreement," Trump said in a tweet.
Oil prices were supported by signs of demand recovery as data shows that the historic downturn in the eurozone economy eased again this month as businesses resumed activity across the region.
September futures on the S&P/TSX index SXFc1were up 0.91% at 7:00 a.m. ET.
On Monday, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.28% higher at 15,516.90.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.79% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.67% and Nasdaq 100 e-mini futures NQc1 were up 0.56%. .N
TOP STORIES TOP/CAN
Air Canada AC.TO said on Monday it had closed two additional financing deals for net proceeds of C$1.23 billion ($909 million), as it shores up funds to meet expenses amid the coronavirus crisis.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Airboss Of America Corp BOS.TO: Canaccord Genuity starts with "Buy" rating, target price of C$27.
Canadian Utilities Ltd CU.TO: RBC raises target price to C$39 from C$38.
Exchange Income Corp EIF.TO: Canaccord Genuity resumes with "buy" rating, C$35 target price.
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1,762; +0.2% GOL/
US crude CLc1: $41.5; +1.89% O/R
Brent crude LCOc1: $43.81; +1.69% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0800 Build permits R number for May: Prior 1.220 mln
0800 Build permits R change mm for May: Prior 14.4%
0945 Markit Composite Flash PMI for Jun: Prior 37.0
0945 Markit Manufacturing PMI Flash for Jun: Expected 48; Prior 39.8
0945 Markit Service PMI Flash for Jun: Expected 46.5; Prior 37.5
1000 New home sales-unit for May: Expected 0.640 mln; Prior 0.623 mln
1000 New home sales change mm for May: Expected 3.5%; Prior 0.6%
1000 Rich Fed Composite Index for Jun: Prior -27
1000 Rich Fed, Services Index for Jun: Prior -48
1000 Rich Fed Manufacturing Shipments for Jun: Prior -26
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$1.35)
(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. | Oil prices were supported by signs of demand recovery as data shows that the historic downturn in the eurozone economy eased again this month as businesses resumed activity across the region. Air Canada AC.TO said on Monday it had closed two additional financing deals for net proceeds of C$1.23 billion ($909 million), as it shores up funds to meet expenses amid the coronavirus crisis. "The China Trade Deal is fully intact. | Airboss Of America Corp BOS.TO: Canaccord Genuity starts with "Buy" rating, target price of C$27. Exchange Income Corp EIF.TO: Canaccord Genuity resumes with "buy" rating, C$35 target price. 0800 Build permits R number for May: Prior 1.220 mln 0800 Build permits R change mm for May: Prior 14.4% 0945 Markit Composite Flash PMI for Jun: Prior 37.0 0945 Markit Manufacturing PMI Flash for Jun: Expected 48; Prior 39.8 0945 Markit Service PMI Flash for Jun: Expected 46.5; Prior 37.5 1000 New home sales-unit for May: Expected 0.640 mln; Prior 0.623 mln 1000 New home sales change mm for May: Expected 3.5%; Prior 0.6% 1000 Rich Fed Composite Index for Jun: Prior -27 1000 Rich Fed, Services Index for Jun: Prior -48 1000 Rich Fed Manufacturing Shipments for Jun: Prior -26 | 0800 Build permits R number for May: Prior 1.220 mln 0800 Build permits R change mm for May: Prior 14.4% 0945 Markit Composite Flash PMI for Jun: Prior 37.0 0945 Markit Manufacturing PMI Flash for Jun: Expected 48; Prior 39.8 0945 Markit Service PMI Flash for Jun: Expected 46.5; Prior 37.5 1000 New home sales-unit for May: Expected 0.640 mln; Prior 0.623 mln 1000 New home sales change mm for May: Expected 3.5%; Prior 0.6% 1000 Rich Fed Composite Index for Jun: Prior -27 1000 Rich Fed, Services Index for Jun: Prior -48 1000 Rich Fed Manufacturing Shipments for Jun: Prior -26 "The China Trade Deal is fully intact. Oil prices were supported by signs of demand recovery as data shows that the historic downturn in the eurozone economy eased again this month as businesses resumed activity across the region. | Exchange Income Corp EIF.TO: Canaccord Genuity resumes with "buy" rating, C$35 target price. "The China Trade Deal is fully intact. Oil prices were supported by signs of demand recovery as data shows that the historic downturn in the eurozone economy eased again this month as businesses resumed activity across the region. |
35141.0 | 2020-06-22 00:00:00 UTC | Canada will not reopen borders quickly, Trudeau tells airlines | AC | https://www.nasdaq.com/articles/canada-will-not-reopen-borders-quickly-trudeau-tells-airlines-2020-06-22 | nan | nan | OTTAWA, June 22 (Reuters) - Canadian Prime Minister Justin Trudeau on Monday pushed back against pressure from airlines to quickly reopen the nation's borders, saying moving too quickly could spark a second wave of the coronavirus.
"I understand there are a lot of tourism firms and airlines who would like us to be able to once again to welcome tourists," Trudeau told a daily briefing.
"But these people all need to understand that if we take steps too quickly, if we are not sure of what we're doing at each stage, we risk hitting a second wave ... and having to close our economy again."
Earlier this month, Air Canada AC.TO Chief Executive Officer Calin Rovinescu and a major tourism industry group urged the government to lift travel restrictions.
Last week, a group of 27 leading executives added to calls for Canada to ease coronavirus-led air restrictions in a letter published in the Globe and Mail newspaper.
Canada and the United States last week extended a ban on non-essential travel to late July. Washington and Ottawa introduced month-long restrictions in March and renewed them in April and May.
"I understand how difficult this is and how frustrating this is for some people but ... we are going to be very very careful about when and how we start reopening international borders," said Trudeau.
(Reporting by David Ljunggren; Editing by David Gregorio)
((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.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 these people all need to understand that if we take steps too quickly, if we are not sure of what we're doing at each stage, we risk hitting a second wave ... and having to close our economy again." Earlier this month, Air Canada AC.TO Chief Executive Officer Calin Rovinescu and a major tourism industry group urged the government to lift travel restrictions. OTTAWA, June 22 (Reuters) - Canadian Prime Minister Justin Trudeau on Monday pushed back against pressure from airlines to quickly reopen the nation's borders, saying moving too quickly could spark a second wave of the coronavirus. | OTTAWA, June 22 (Reuters) - Canadian Prime Minister Justin Trudeau on Monday pushed back against pressure from airlines to quickly reopen the nation's borders, saying moving too quickly could spark a second wave of the coronavirus. Earlier this month, Air Canada AC.TO Chief Executive Officer Calin Rovinescu and a major tourism industry group urged the government to lift travel restrictions. "But these people all need to understand that if we take steps too quickly, if we are not sure of what we're doing at each stage, we risk hitting a second wave ... and having to close our economy again." | OTTAWA, June 22 (Reuters) - Canadian Prime Minister Justin Trudeau on Monday pushed back against pressure from airlines to quickly reopen the nation's borders, saying moving too quickly could spark a second wave of the coronavirus. Earlier this month, Air Canada AC.TO Chief Executive Officer Calin Rovinescu and a major tourism industry group urged the government to lift travel restrictions. "But these people all need to understand that if we take steps too quickly, if we are not sure of what we're doing at each stage, we risk hitting a second wave ... and having to close our economy again." | OTTAWA, June 22 (Reuters) - Canadian Prime Minister Justin Trudeau on Monday pushed back against pressure from airlines to quickly reopen the nation's borders, saying moving too quickly could spark a second wave of the coronavirus. "But these people all need to understand that if we take steps too quickly, if we are not sure of what we're doing at each stage, we risk hitting a second wave ... and having to close our economy again." Earlier this month, Air Canada AC.TO Chief Executive Officer Calin Rovinescu and a major tourism industry group urged the government to lift travel restrictions. |
35142.0 | 2020-06-22 00:00:00 UTC | Canada's biggest city, Toronto, to reopen businesses, ending three-month lockdown | AC | https://www.nasdaq.com/articles/canadas-biggest-city-toronto-to-reopen-businesses-ending-three-month-lockdown-2020-06-22 | nan | nan | By Moira Warburton
TORONTO, June 22 (Reuters) - Toronto, Canada's most-populous city and financial capital, will allow businesses to reopen starting on Wednesday, joining other regions in the province of Ontario in ending a three-month pandemic lockdown, Ontario Premier Doug Ford said on Monday.
Malls and restaurants in Toronto, along with Peel Region, which includes some of the city's densely populated suburbs, will be able to open their patios, according to the government's plan.
Ontario, Canada's largest province by population, started gradually reopening its economy this month, but Toronto was left off the initial list.
Ford said the government would continue to monitor health trends and consult daily with the province's medical experts, and asked people to stay vigilant.
"It can turn and bite us in the backside in about a heartbeat," Ford said.
Downtown Toronto is home to some of Canada's biggest banks and insurers, and many of them have agreed to allow their staff to work from home until at least September, Toronto Mayor John Tory said last month.
Canadian provinces imposed lockdowns in March to contain the spread of the coronavirus, which has killed 8,430 people in Canada and infected 101,337, according to the latest government data. Toronto has recorded more than 1,000 deaths.
Windsor-Essex, in southwestern Ontario near the Michigan border, is the only health region still in Phase 1 of the three-phase reopening, where an outbreak is hitting migrant workers on farms.
Ford said the province began sending mobile testing units to the largest farms and food-processing plants on Saturday, but blamed Windsor-Essex's continued closure on farmers who will not get their workers tested.
"Farmers just aren't cooperating," Ford said, adding the province cannot force anyone to get tested. "We'll give it another shot ... but then we're going to have to pull out other tools."
Separately, Prime Minister Justin Trudeau pushed back on Monday against pressure from airlines to reopen the nation's borders.
(Reporting by Moira Warburton; Editing by Kevin Liffey and Peter Cooney)
((Moira.Warburton@thomsonreuters.com; 416-687-7996; 437-771-3124;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Malls and restaurants in Toronto, along with Peel Region, which includes some of the city's densely populated suburbs, will be able to open their patios, according to the government's plan. "It can turn and bite us in the backside in about a heartbeat," Ford said. Canadian provinces imposed lockdowns in March to contain the spread of the coronavirus, which has killed 8,430 people in Canada and infected 101,337, according to the latest government data. | Malls and restaurants in Toronto, along with Peel Region, which includes some of the city's densely populated suburbs, will be able to open their patios, according to the government's plan. "It can turn and bite us in the backside in about a heartbeat," Ford said. Canadian provinces imposed lockdowns in March to contain the spread of the coronavirus, which has killed 8,430 people in Canada and infected 101,337, according to the latest government data. | Malls and restaurants in Toronto, along with Peel Region, which includes some of the city's densely populated suburbs, will be able to open their patios, according to the government's plan. "It can turn and bite us in the backside in about a heartbeat," Ford said. Canadian provinces imposed lockdowns in March to contain the spread of the coronavirus, which has killed 8,430 people in Canada and infected 101,337, according to the latest government data. | Malls and restaurants in Toronto, along with Peel Region, which includes some of the city's densely populated suburbs, will be able to open their patios, according to the government's plan. "It can turn and bite us in the backside in about a heartbeat," Ford said. Canadian provinces imposed lockdowns in March to contain the spread of the coronavirus, which has killed 8,430 people in Canada and infected 101,337, according to the latest government data. |
35143.0 | 2020-06-22 00:00:00 UTC | Canada will not reopen borders quickly, Trudeau tells anxious airlines | AC | https://www.nasdaq.com/articles/canada-will-not-reopen-borders-quickly-trudeau-tells-anxious-airlines-2020-06-22 | nan | nan | By David Ljunggren
OTTAWA, June 22 (Reuters) - Canadian Prime Minister Justin Trudeau on Monday pushed back against pressure from airlines to reopen the nation's borders, saying moving too quickly could spark a second wave of the coronavirus.
"I understand there are a lot of tourism firms and airlines who would like us to be able to once again to welcome tourists," Trudeau told a daily briefing.
"But these people all need to understand that if we take steps too quickly, if we are not sure of what we're doing at each stage, we risk hitting a second wave ... and having to close our economy again."
Last week, a group of 27 leading executives added to calls for looser air travel restrictions in a open letter published in the Globe and Mail newspaper.
A senior official with Air Canada - the country's largest airline - urged the government on Monday to quickly reopen borders and dilute quarantine requirements, citing what other nations were doing.
"Otherwise our sector and the Canadian economy will suffer far longer than it needs to," Ferio Pugliese, senior vice president of government relations, told the House of Commons health committee.
Air Canada AC.TO said in mid-May it had decided to reduce its workforce by up to 60%.
Canada and the United States last week extended a ban on non-essential travel to late July. Washington and Ottawa introduced month-long restrictions in March and renewed them in April and May.
"I understand how difficult this is and how frustrating this is for some people but ... we are going to be very, very careful about when and how we start reopening international borders," Trudeau said.
Bank of Canada Governor Tiff Macklem told reporters later on Monday that "airlines are going to take longer to come back than some other parts of the economy".
(Reporting by David Ljunggren; Editing by David Gregorio and Nick Macfie)
((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.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 David Ljunggren OTTAWA, June 22 (Reuters) - Canadian Prime Minister Justin Trudeau on Monday pushed back against pressure from airlines to reopen the nation's borders, saying moving too quickly could spark a second wave of the coronavirus. "But these people all need to understand that if we take steps too quickly, if we are not sure of what we're doing at each stage, we risk hitting a second wave ... and having to close our economy again." Air Canada AC.TO said in mid-May it had decided to reduce its workforce by up to 60%. | By David Ljunggren OTTAWA, June 22 (Reuters) - Canadian Prime Minister Justin Trudeau on Monday pushed back against pressure from airlines to reopen the nation's borders, saying moving too quickly could spark a second wave of the coronavirus. "But these people all need to understand that if we take steps too quickly, if we are not sure of what we're doing at each stage, we risk hitting a second wave ... and having to close our economy again." Air Canada AC.TO said in mid-May it had decided to reduce its workforce by up to 60%. | By David Ljunggren OTTAWA, June 22 (Reuters) - Canadian Prime Minister Justin Trudeau on Monday pushed back against pressure from airlines to reopen the nation's borders, saying moving too quickly could spark a second wave of the coronavirus. Bank of Canada Governor Tiff Macklem told reporters later on Monday that "airlines are going to take longer to come back than some other parts of the economy". "But these people all need to understand that if we take steps too quickly, if we are not sure of what we're doing at each stage, we risk hitting a second wave ... and having to close our economy again." | By David Ljunggren OTTAWA, June 22 (Reuters) - Canadian Prime Minister Justin Trudeau on Monday pushed back against pressure from airlines to reopen the nation's borders, saying moving too quickly could spark a second wave of the coronavirus. Bank of Canada Governor Tiff Macklem told reporters later on Monday that "airlines are going to take longer to come back than some other parts of the economy". "But these people all need to understand that if we take steps too quickly, if we are not sure of what we're doing at each stage, we risk hitting a second wave ... and having to close our economy again." |
35144.0 | 2020-06-19 00:00:00 UTC | EU regulators halt Air Canada, Transat anti-trust probe, await data | AC | https://www.nasdaq.com/articles/eu-regulators-halt-air-canada-transat-anti-trust-probe-await-data-2020-06-19 | nan | nan | BRUSSELS, June 19 (Reuters) - EU antitrust regulators have suspended their investigation into Air Canada's AC.TO bid for Canadian tour operator and carrier Transat AT Inc TRZ.TO while waiting for the companies to provide data sought by the enforcers.
The European Commission, which opened a four-month investigation last month on concerns that the deal may result in higher prices and less choice for flights between Europe and Canada, halted its probe Thursday.
"This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them," the EU executive said.
"Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly," it said.
It had previously set a Sept. 30 deadline for its decision. Transat has said it expects to close the deal in the fourth quarter of the year.
(Reporting by Foo Yun Chee, editing by Louise Heavens)
((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, June 19 (Reuters) - EU antitrust regulators have suspended their investigation into Air Canada's AC.TO bid for Canadian tour operator and carrier Transat AT Inc TRZ.TO while waiting for the companies to provide data sought by the enforcers. "This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them," the EU executive said. "Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly," it said. | BRUSSELS, June 19 (Reuters) - EU antitrust regulators have suspended their investigation into Air Canada's AC.TO bid for Canadian tour operator and carrier Transat AT Inc TRZ.TO while waiting for the companies to provide data sought by the enforcers. "Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly," it said. "This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them," the EU executive said. | BRUSSELS, June 19 (Reuters) - EU antitrust regulators have suspended their investigation into Air Canada's AC.TO bid for Canadian tour operator and carrier Transat AT Inc TRZ.TO while waiting for the companies to provide data sought by the enforcers. "This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them," the EU executive said. "Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly," it said. | BRUSSELS, June 19 (Reuters) - EU antitrust regulators have suspended their investigation into Air Canada's AC.TO bid for Canadian tour operator and carrier Transat AT Inc TRZ.TO while waiting for the companies to provide data sought by the enforcers. "Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly," it said. "This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them," the EU executive said. |
35145.0 | 2020-06-19 00:00:00 UTC | Australian regulator won't oppose Ayala's takeover bid for Infigen | AC | https://www.nasdaq.com/articles/australian-regulator-wont-oppose-ayalas-takeover-bid-for-infigen-2020-06-19 | nan | nan | June 19 (Reuters) - Australia's foreign investment board will not oppose Ayala Corp's AC.PS takeover bid for Infigen Energy IFN.AX, a law firm representing the Philippine firm said on Friday, days after Spain's Iberdrola offered more for the solar and wind firm.
Infigen backs a A$828 million ($569 million) takeover offer by Iberdrola which is 7.5% higher and has fewer conditions.
A joint venture of Ayala's AC Energy ACEPH.PS and Hong Kong-based UPC Renewables Group, however, could revise their earlier A$777 million offer for Infigen.
"UAC continues to consider its position," a spokeswoman told Reuters on Friday, reiterating the company's stance earlier this week.
Iberdrola and UAC pounced on Infigen after its share price slumped due to falling power prices in Australia and challenges facing wind and solar firms hooking up projects to a shaky grid.
Infigen's top shareholder, TCI Fund Management, has agreed to sell its stake to the Spanish firm if no higher bids surface.
The regulator's position comes as Australia introduces tougher policies to monitor foreign investments as interest rises from overseas investors for troubled Australian assets in the wake of the coronavirus pandemic.
($1 = 1.4552 Australian dollars)
(Reporting by Nikhil Kurian Nainan and Shreya Mariam Job in Bengaluru; Additional reporting by Sonali Paul in Melbourne; Editing by Jacqueline Wong)
((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN; +91 806 182 2724;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A joint venture of Ayala's AC Energy ACEPH.PS and Hong Kong-based UPC Renewables Group, however, could revise their earlier A$777 million offer for Infigen. Infigen's top shareholder, TCI Fund Management, has agreed to sell its stake to the Spanish firm if no higher bids surface. June 19 (Reuters) - Australia's foreign investment board will not oppose Ayala Corp's AC.PS takeover bid for Infigen Energy IFN.AX, a law firm representing the Philippine firm said on Friday, days after Spain's Iberdrola offered more for the solar and wind firm. | June 19 (Reuters) - Australia's foreign investment board will not oppose Ayala Corp's AC.PS takeover bid for Infigen Energy IFN.AX, a law firm representing the Philippine firm said on Friday, days after Spain's Iberdrola offered more for the solar and wind firm. Infigen backs a A$828 million ($569 million) takeover offer by Iberdrola which is 7.5% higher and has fewer conditions. A joint venture of Ayala's AC Energy ACEPH.PS and Hong Kong-based UPC Renewables Group, however, could revise their earlier A$777 million offer for Infigen. | June 19 (Reuters) - Australia's foreign investment board will not oppose Ayala Corp's AC.PS takeover bid for Infigen Energy IFN.AX, a law firm representing the Philippine firm said on Friday, days after Spain's Iberdrola offered more for the solar and wind firm. Iberdrola and UAC pounced on Infigen after its share price slumped due to falling power prices in Australia and challenges facing wind and solar firms hooking up projects to a shaky grid. ($1 = 1.4552 Australian dollars) (Reporting by Nikhil Kurian Nainan and Shreya Mariam Job in Bengaluru; Additional reporting by Sonali Paul in Melbourne; Editing by Jacqueline Wong) ((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN; +91 806 182 2724;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 19 (Reuters) - Australia's foreign investment board will not oppose Ayala Corp's AC.PS takeover bid for Infigen Energy IFN.AX, a law firm representing the Philippine firm said on Friday, days after Spain's Iberdrola offered more for the solar and wind firm. Infigen backs a A$828 million ($569 million) takeover offer by Iberdrola which is 7.5% higher and has fewer conditions. A joint venture of Ayala's AC Energy ACEPH.PS and Hong Kong-based UPC Renewables Group, however, could revise their earlier A$777 million offer for Infigen. |
35146.0 | 2020-06-18 00:00:00 UTC | Corporate Canada joins travel industry's push to ease COVID-19 air curbs | AC | https://www.nasdaq.com/articles/corporate-canada-joins-travel-industrys-push-to-ease-covid-19-air-curbs-2020-06-18 | nan | nan | June 18 (Reuters) - A group of 27 leading executives added to calls for Canada to ease coronavirus-led air restrictions in a letter published in the country's Globe and Mail newspaper on Thursday.
The move lends support to the travel industry's push to relax air curbs as most international flights to and from Canada remain canceled.
The executives, including the CEO of the largest Canadian lender Royal Bank of Canada RY.TO, asked Prime Minister Justin Trudeau and provincial premiers to "find a responsible way to co-exist with COVID-19 until there is a vaccine."
Air Canada's Chief Executive Officer Calin Rovinescu AC.TO and the tourism industry group Canadian Travel & Tourism Roundtable last week urged the government to lift travel restrictions in an open letter. (https://bit.ly/316YzXZ)
The signatories from Thursday's ad included heads of Bank of Nova Scotia BNS.TO, Fairfax Financial Holdings Ltd FFH.TO, WestJet Airlines Ltd WJA.TO Canadian National Railway Co CNR.TO, Rogers Communications Inc RCIb.TO and Enbridge Inc ENB.TO.
"This includes prudently and thoughtfully opening aviation and lifting restrictions to safely resume travel throughout all provinces of Canada, as well as from select countries," the executives said in the ad.
"Air travel is not only important for tourism - it is also critical for the entire Canadian economy," their message added.
(Reporting by Bharath Manjesh in Bengaluru; Editing by Ramakrishnan M.)
((Bharath.ManjeshR@thomsonreuters.com; outside U.S. +91 80 6749 2703;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The executives, including the CEO of the largest Canadian lender Royal Bank of Canada RY.TO, asked Prime Minister Justin Trudeau and provincial premiers to "find a responsible way to co-exist with COVID-19 until there is a vaccine." Air Canada's Chief Executive Officer Calin Rovinescu AC.TO and the tourism industry group Canadian Travel & Tourism Roundtable last week urged the government to lift travel restrictions in an open letter. June 18 (Reuters) - A group of 27 leading executives added to calls for Canada to ease coronavirus-led air restrictions in a letter published in the country's Globe and Mail newspaper on Thursday. | Air Canada's Chief Executive Officer Calin Rovinescu AC.TO and the tourism industry group Canadian Travel & Tourism Roundtable last week urged the government to lift travel restrictions in an open letter. The executives, including the CEO of the largest Canadian lender Royal Bank of Canada RY.TO, asked Prime Minister Justin Trudeau and provincial premiers to "find a responsible way to co-exist with COVID-19 until there is a vaccine." June 18 (Reuters) - A group of 27 leading executives added to calls for Canada to ease coronavirus-led air restrictions in a letter published in the country's Globe and Mail newspaper on Thursday. | Air Canada's Chief Executive Officer Calin Rovinescu AC.TO and the tourism industry group Canadian Travel & Tourism Roundtable last week urged the government to lift travel restrictions in an open letter. The executives, including the CEO of the largest Canadian lender Royal Bank of Canada RY.TO, asked Prime Minister Justin Trudeau and provincial premiers to "find a responsible way to co-exist with COVID-19 until there is a vaccine." June 18 (Reuters) - A group of 27 leading executives added to calls for Canada to ease coronavirus-led air restrictions in a letter published in the country's Globe and Mail newspaper on Thursday. | The executives, including the CEO of the largest Canadian lender Royal Bank of Canada RY.TO, asked Prime Minister Justin Trudeau and provincial premiers to "find a responsible way to co-exist with COVID-19 until there is a vaccine." Air Canada's Chief Executive Officer Calin Rovinescu AC.TO and the tourism industry group Canadian Travel & Tourism Roundtable last week urged the government to lift travel restrictions in an open letter. The move lends support to the travel industry's push to relax air curbs as most international flights to and from Canada remain canceled. |
35147.0 | 2020-06-16 00:00:00 UTC | Infigen picks $569 mln offer from Spain's Iberdrola over Ayala bid | AC | https://www.nasdaq.com/articles/infigen-picks-%24569-mln-offer-from-spains-iberdrola-over-ayala-bid-2020-06-16 | nan | nan | Adds details of deal, comment, background
June 17 (Reuters) - Infigen Energy Ltd IFN.AX recommended on Wednesday an A$827.5 million ($569.1 million) buyout bid from Spain's Iberdrola IBE.MC to its shareholders, and urged them to reject an earlier offer from Philippine conglomerate Ayala Corp AC.PS.
Iberdrola's offer is part of its strategy to expand in renewable energy worldwide.
The bids for Infigen come at a time when wind and solar firms are battling falling power prices and as the coronavirus pandemic makes company valuations cheaper.
Iberdrola will pay A$0.86 a share for Infigen, a 7.5% premium to an offer made by UAC Energy Holdings, a joint venture of Ayala's AC Energy ACEPH.PS and Hong Kong-based UPC Renewables Group earlier this month.
The Spanish firm's bid price is almost 5% higher than the stock's Tuesday close.
Infigen had labelled Ayala's approach "opportunistic" just a day after it introduced its offer, and raised concerns over it being highly conditional and its means of funding.
"Iberdrola's offer is less conditional overall than UAC's offer, including not being subject to the due diligence and disclosure conditions contained in the UAC offer," Infigen said in a statement on Wednesday.
A spokeswoman for UAC was not immediately available for comment.
($1 = 1.4541 Australian dollars)
(Reporting by Shashwat Awasthi in Bengaluru and Sonali Paul in Melbourne; Editing by Chris Reese and Peter Cooney)
((Shashwat.Awasthi@thomsonreuters.com; +91 80 61822606;))
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 of deal, comment, background June 17 (Reuters) - Infigen Energy Ltd IFN.AX recommended on Wednesday an A$827.5 million ($569.1 million) buyout bid from Spain's Iberdrola IBE.MC to its shareholders, and urged them to reject an earlier offer from Philippine conglomerate Ayala Corp AC.PS. Infigen had labelled Ayala's approach "opportunistic" just a day after it introduced its offer, and raised concerns over it being highly conditional and its means of funding. Iberdrola will pay A$0.86 a share for Infigen, a 7.5% premium to an offer made by UAC Energy Holdings, a joint venture of Ayala's AC Energy ACEPH.PS and Hong Kong-based UPC Renewables Group earlier this month. | Adds details of deal, comment, background June 17 (Reuters) - Infigen Energy Ltd IFN.AX recommended on Wednesday an A$827.5 million ($569.1 million) buyout bid from Spain's Iberdrola IBE.MC to its shareholders, and urged them to reject an earlier offer from Philippine conglomerate Ayala Corp AC.PS. "Iberdrola's offer is less conditional overall than UAC's offer, including not being subject to the due diligence and disclosure conditions contained in the UAC offer," Infigen said in a statement on Wednesday. Iberdrola will pay A$0.86 a share for Infigen, a 7.5% premium to an offer made by UAC Energy Holdings, a joint venture of Ayala's AC Energy ACEPH.PS and Hong Kong-based UPC Renewables Group earlier this month. | Adds details of deal, comment, background June 17 (Reuters) - Infigen Energy Ltd IFN.AX recommended on Wednesday an A$827.5 million ($569.1 million) buyout bid from Spain's Iberdrola IBE.MC to its shareholders, and urged them to reject an earlier offer from Philippine conglomerate Ayala Corp AC.PS. Iberdrola will pay A$0.86 a share for Infigen, a 7.5% premium to an offer made by UAC Energy Holdings, a joint venture of Ayala's AC Energy ACEPH.PS and Hong Kong-based UPC Renewables Group earlier this month. "Iberdrola's offer is less conditional overall than UAC's offer, including not being subject to the due diligence and disclosure conditions contained in the UAC offer," Infigen said in a statement on Wednesday. | Adds details of deal, comment, background June 17 (Reuters) - Infigen Energy Ltd IFN.AX recommended on Wednesday an A$827.5 million ($569.1 million) buyout bid from Spain's Iberdrola IBE.MC to its shareholders, and urged them to reject an earlier offer from Philippine conglomerate Ayala Corp AC.PS. "Iberdrola's offer is less conditional overall than UAC's offer, including not being subject to the due diligence and disclosure conditions contained in the UAC offer," Infigen said in a statement on Wednesday. Iberdrola will pay A$0.86 a share for Infigen, a 7.5% premium to an offer made by UAC Energy Holdings, a joint venture of Ayala's AC Energy ACEPH.PS and Hong Kong-based UPC Renewables Group earlier this month. |
35148.0 | 2020-06-16 00:00:00 UTC | Air Canada CFO says carrier seeing improved domestic bookings | AC | https://www.nasdaq.com/articles/air-canada-cfo-says-carrier-seeing-improved-domestic-bookings-2020-06-16-0 | nan | nan | By Allison Lampert
MONTREAL, June 16 (Reuters) - Air Canada AC.TO is seeing improved domestic bookings, but expects international flights to only pick up if governments relax travel restrictions introduced to curb the spread of coronavirus, the airline's chief financial officer said on Tuesday.
"I think you’re seeing across the industry improvements in bookings and certainly at Air Canada we're seeing that as well," CFO Michael Rousseau told a National Bank event for analysts and investors. "But that's focused primarily on domestic business, point to point within Canada."
Canada's largest carrier, along with tourism groups, have asked Prime Minister Justin Trudeau's Liberal government to relax restrictions, like requirements for a 14-day quarantine.
Trudeau said on Tuesday, the non-essential travel ban between Canada and the United States has been extended to July 21, confirming a Reuters story from last week.
Rousseau says he expects it will take at least three years to return to 2019 traffic levels before the pandemic even as the carrier accelerates retirements of older E190s, B767s and A319s.
Nevertheless, he sees green shoots among domestic leisure flights, which are coming back first. He hopes business travel returns after the summer as corporate clients return to their offices.
Air Canada shares were up 4.2% by the afternoon, while the benchmark Canadian share index was up 1.2%.
Rousseau said the desire to meet clients face-to-face, combined with Air Canada's loyalty program, will help drive demand for business travel, despite companies' current practice of working from home.
Asked about United Airlines UAL.O pledging its frequent flyer program for a new loan to buffer its liquidity, and whether such an option would be available to Air Canada, Rousseau said he thinks any airline is going to keep "every door open."
Rousseau declined to comment on its planned C$720 million ($532.39 million) purchase of tour operator Transat AT TRZ.TO, which is awaiting regulatory approval in Canada and Europe.
(Reporting By Allison Lampert Editing by Chizu Nomiyama and Marguerita Choy)
((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, June 16 (Reuters) - Air Canada AC.TO is seeing improved domestic bookings, but expects international flights to only pick up if governments relax travel restrictions introduced to curb the spread of coronavirus, the airline's chief financial officer said on Tuesday. Rousseau said the desire to meet clients face-to-face, combined with Air Canada's loyalty program, will help drive demand for business travel, despite companies' current practice of working from home. "I think you’re seeing across the industry improvements in bookings and certainly at Air Canada we're seeing that as well," CFO Michael Rousseau told a National Bank event for analysts and investors. | By Allison Lampert MONTREAL, June 16 (Reuters) - Air Canada AC.TO is seeing improved domestic bookings, but expects international flights to only pick up if governments relax travel restrictions introduced to curb the spread of coronavirus, the airline's chief financial officer said on Tuesday. "I think you’re seeing across the industry improvements in bookings and certainly at Air Canada we're seeing that as well," CFO Michael Rousseau told a National Bank event for analysts and investors. Rousseau says he expects it will take at least three years to return to 2019 traffic levels before the pandemic even as the carrier accelerates retirements of older E190s, B767s and A319s. | By Allison Lampert MONTREAL, June 16 (Reuters) - Air Canada AC.TO is seeing improved domestic bookings, but expects international flights to only pick up if governments relax travel restrictions introduced to curb the spread of coronavirus, the airline's chief financial officer said on Tuesday. Rousseau said the desire to meet clients face-to-face, combined with Air Canada's loyalty program, will help drive demand for business travel, despite companies' current practice of working from home. "I think you’re seeing across the industry improvements in bookings and certainly at Air Canada we're seeing that as well," CFO Michael Rousseau told a National Bank event for analysts and investors. | By Allison Lampert MONTREAL, June 16 (Reuters) - Air Canada AC.TO is seeing improved domestic bookings, but expects international flights to only pick up if governments relax travel restrictions introduced to curb the spread of coronavirus, the airline's chief financial officer said on Tuesday. "I think you’re seeing across the industry improvements in bookings and certainly at Air Canada we're seeing that as well," CFO Michael Rousseau told a National Bank event for analysts and investors. Rousseau says he expects it will take at least three years to return to 2019 traffic levels before the pandemic even as the carrier accelerates retirements of older E190s, B767s and A319s. |
35149.0 | 2020-06-16 00:00:00 UTC | Air Canada CFO says carrier seeing improved domestic bookings | AC | https://www.nasdaq.com/articles/air-canada-cfo-says-carrier-seeing-improved-domestic-bookings-2020-06-16 | nan | nan | MONTREAL, June 16 (Reuters) - Air Canada AC.TO is seeing improved domestic bookings, but expects international flights to pick up only when the Canadian government relaxes travel restrictions introduced to curb the spread of the new coronavirus, the airline's chief financial officer said on Tuesday.
"I think you’re seeing across the industry improvements in bookings and certainly at Air Canada we're seeing that as well," CFO Michael Rousseau told a National Bank event for analysts and investors. "But that's focused primarily on domestic business, point to point within Canada."
(Reporting By Allison Lampert Editing by Chizu Nomiyama)
((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. | MONTREAL, June 16 (Reuters) - Air Canada AC.TO is seeing improved domestic bookings, but expects international flights to pick up only when the Canadian government relaxes travel restrictions introduced to curb the spread of the new coronavirus, the airline's chief financial officer said on Tuesday. "I think you’re seeing across the industry improvements in bookings and certainly at Air Canada we're seeing that as well," CFO Michael Rousseau told a National Bank event for analysts and investors. (Reporting By Allison Lampert Editing by Chizu Nomiyama) ((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. | MONTREAL, June 16 (Reuters) - Air Canada AC.TO is seeing improved domestic bookings, but expects international flights to pick up only when the Canadian government relaxes travel restrictions introduced to curb the spread of the new coronavirus, the airline's chief financial officer said on Tuesday. "I think you’re seeing across the industry improvements in bookings and certainly at Air Canada we're seeing that as well," CFO Michael Rousseau told a National Bank event for analysts and investors. "But that's focused primarily on domestic business, point to point within Canada." | MONTREAL, June 16 (Reuters) - Air Canada AC.TO is seeing improved domestic bookings, but expects international flights to pick up only when the Canadian government relaxes travel restrictions introduced to curb the spread of the new coronavirus, the airline's chief financial officer said on Tuesday. "I think you’re seeing across the industry improvements in bookings and certainly at Air Canada we're seeing that as well," CFO Michael Rousseau told a National Bank event for analysts and investors. (Reporting By Allison Lampert Editing by Chizu Nomiyama) ((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. | MONTREAL, June 16 (Reuters) - Air Canada AC.TO is seeing improved domestic bookings, but expects international flights to pick up only when the Canadian government relaxes travel restrictions introduced to curb the spread of the new coronavirus, the airline's chief financial officer said on Tuesday. "I think you’re seeing across the industry improvements in bookings and certainly at Air Canada we're seeing that as well," CFO Michael Rousseau told a National Bank event for analysts and investors. "But that's focused primarily on domestic business, point to point within Canada." |
35150.0 | 2020-06-16 00:00:00 UTC | TSX jumps as energy stocks gain on higher oil prices | AC | https://www.nasdaq.com/articles/tsx-jumps-as-energy-stocks-gain-on-higher-oil-prices-2020-06-16 | nan | nan | June 16 (Reuters) - Canada's main stock index rose on Tuesday as the energy sector jumped nearly 4% on signs of improving crude oil demand, while sentiment was also bolstered by a record increase in U.S. retail sales and prospects of more economic stimulus.
* U.S. crude CLc1 prices rose 3.4%, while Brent crude LCOc1 added 3% after the International Energy Agency increased its oil demand forecast for 2020 and as record supply cuts supported the market. O/R
* The U.S. Federal Reserve is set to start purchasing corporate bonds on Tuesday as part of an already announced stimulus scheme, while latest data showed a record jump in U.S. retail sales in May as Americans resumed spending after weeks of lockdowns.
* At 9:42 a.m. ET (13:42 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 301.76 points, or 1.96%, at 15,661.42.
* The financials sector .SPTTFS gained 2.7%. The industrials sector .GSPTTIN rose 2.6%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 0.1% as gold futures GCc1 rose 0.3% to $1,725.8 an ounce. GOL/
* On the TSX, 199 issues were higher, while 29 issues declined for a 6.86-to-1 ratio favouring gainers, with 32.56 million shares traded.
* The largest percentage gainer on the TSX was oilfield services and equipment provider Shawcor Ltd , which jumped 11.9%, followed by Pason Systems Inc , which rose 10.6%.
* Silvercorp Metals Inc fell 2.0%, the most on the TSX. The next biggest decliner was Alacer Gold Corp , down 1.7%.
* The most heavily traded shares by volume were Bombardier Inc , up 4.9%, BCE Inc , up 2.7%, and Air Canada , up 5.2%.
* The TSX posted three new 52-week highs and no new lows.
* Across all Canadian issues, there were 14 new 52-week highs and one new low, with a total volume of 55.84 million shares.
(Reporting by Amal S in Bengaluru; Editing by Subhranshu Sahu)
((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 next biggest decliner was Alacer Gold Corp , down 1.7%. * Across all Canadian issues, there were 14 new 52-week highs and one new low, with a total volume of 55.84 million shares. June 16 (Reuters) - Canada's main stock index rose on Tuesday as the energy sector jumped nearly 4% on signs of improving crude oil demand, while sentiment was also bolstered by a record increase in U.S. retail sales and prospects of more economic stimulus. | The next biggest decliner was Alacer Gold Corp , down 1.7%. * Across all Canadian issues, there were 14 new 52-week highs and one new low, with a total volume of 55.84 million shares. June 16 (Reuters) - Canada's main stock index rose on Tuesday as the energy sector jumped nearly 4% on signs of improving crude oil demand, while sentiment was also bolstered by a record increase in U.S. retail sales and prospects of more economic stimulus. | The next biggest decliner was Alacer Gold Corp , down 1.7%. * Across all Canadian issues, there were 14 new 52-week highs and one new low, with a total volume of 55.84 million shares. June 16 (Reuters) - Canada's main stock index rose on Tuesday as the energy sector jumped nearly 4% on signs of improving crude oil demand, while sentiment was also bolstered by a record increase in U.S. retail sales and prospects of more economic stimulus. | The next biggest decliner was Alacer Gold Corp , down 1.7%. * Across all Canadian issues, there were 14 new 52-week highs and one new low, with a total volume of 55.84 million shares. June 16 (Reuters) - Canada's main stock index rose on Tuesday as the energy sector jumped nearly 4% on signs of improving crude oil demand, while sentiment was also bolstered by a record increase in U.S. retail sales and prospects of more economic stimulus. |
35151.0 | 2020-06-15 00:00:00 UTC | TSX rises 0.68% to 15,359.66 | AC | https://www.nasdaq.com/articles/tsx-rises-0.68-to-15359.66-2020-06-15 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.68 percent to 15,359.66
* Leading the index were Torex Gold Resources Inc , up 9.3%, Shopify Inc SHOP.TO, up 8.3%, and Mullen Group Ltd MTL.TO, higher by 8.2%.
* Lagging shares were Cineplex Inc CGX.TO, down 16.9%, Bombardier Inc BBDb.TO, down 11.5%, and Shawcor Ltd SCL.TO, lower by 11.1%.
* On the TSX 129 issues rose and 97 fell as a 1.3-to-1 ratio favored advancers. There were 2 new highs and no new lows, with total volume of 294.4 million shares.
* The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Canadian Natural Resources Ltd CNQ.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN fell 0.55 points, or 0.7%, while the financials sector .SPTTFS slipped 1.10 points, or 0.4%.
* West Texas Intermediate crude futures CLc1 rose 2.23%, or $0.81, to $37.07 a barrel. Brent crude LCOc1 rose 2.71%, or $1.05, to $39.78 O/R
* The TSX is off 10% 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 Bombardier Inc BBDb.TO, Canadian Natural Resources Ltd CNQ.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.68 percent to 15,359.66 * Leading the index were Torex Gold Resources Inc , up 9.3%, Shopify Inc SHOP.TO, up 8.3%, and Mullen Group Ltd MTL.TO, higher by 8.2%. * On the TSX 129 issues rose and 97 fell as a 1.3-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Canadian Natural Resources Ltd CNQ.TO and Air Canada AC.TO. * On the TSX 129 issues rose and 97 fell as a 1.3-to-1 ratio favored advancers. * The TSX's energy group .SPTTEN fell 0.55 points, or 0.7%, while the financials sector .SPTTFS slipped 1.10 points, or 0.4%. | * The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Canadian Natural Resources Ltd CNQ.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.68 percent to 15,359.66 * Leading the index were Torex Gold Resources Inc , up 9.3%, Shopify Inc SHOP.TO, up 8.3%, and Mullen Group Ltd MTL.TO, higher by 8.2%. * The TSX's energy group .SPTTEN fell 0.55 points, or 0.7%, while the financials sector .SPTTFS slipped 1.10 points, or 0.4%. | * The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Canadian Natural Resources Ltd CNQ.TO and Air Canada AC.TO. * On the TSX 129 issues rose and 97 fell as a 1.3-to-1 ratio favored advancers. Brent crude LCOc1 rose 2.71%, or $1.05, to $39.78 O/R * The TSX is off 10% for the year. |
35152.0 | 2020-06-12 00:00:00 UTC | TSX rises 1.37% to 15,256.57 | AC | https://www.nasdaq.com/articles/tsx-rises-1.37-to-15256.57-2020-06-12 | nan | nan | * The Toronto Stock Exchange's TSX rises 1.37 percent to 15,256.57
* Leading the index were Shawcor Ltd , up 35.9%, Secure Energy Services Inc SES.TO, up 12.9%, and Ballard Power Systems Inc BLDP.TO, higher by 10.7%.
* Lagging shares were Centerra Gold Inc CG.TO, down 4.9%, Pretium Resources Inc PVG.TO, down 4.7%, and Torex Gold Resources Inc TXG.TO, lower by 3.4%.
* On the TSX 196 issues rose and 33 fell as a 5.9-to-1 ratio favored advancers. There were 2 new highs and no new lows, with total volume of 340.4 million shares.
* The most heavily traded shares by volume were Canadian Natural Resources Ltd CNQ.TO, Air Canada AC.TO and Hexo Corp HEXO.TO.
* The TSX's energy group .SPTTEN rose 1.37 points, or 1.7%, while the financials sector .SPTTFS climbed 4.79 points, or 1.9%.
* West Texas Intermediate crude futures CLc1 rose 0.61%, or $0.22, to $36.56 a barrel. Brent crude LCOc1 rose 1.14%, or $0.44, to $38.99 O/R
* The TSX is off 10.6% 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 Canadian Natural Resources Ltd CNQ.TO, Air Canada AC.TO and Hexo Corp HEXO.TO. * The Toronto Stock Exchange's TSX rises 1.37 percent to 15,256.57 * Leading the index were Shawcor Ltd , up 35.9%, Secure Energy Services Inc SES.TO, up 12.9%, and Ballard Power Systems Inc BLDP.TO, higher by 10.7%. * On the TSX 196 issues rose and 33 fell as a 5.9-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Canadian Natural Resources Ltd CNQ.TO, Air Canada AC.TO and Hexo Corp HEXO.TO. * Lagging shares were Centerra Gold Inc CG.TO, down 4.9%, Pretium Resources Inc PVG.TO, down 4.7%, and Torex Gold Resources Inc TXG.TO, lower by 3.4%. * The TSX's energy group .SPTTEN rose 1.37 points, or 1.7%, while the financials sector .SPTTFS climbed 4.79 points, or 1.9%. | * The most heavily traded shares by volume were Canadian Natural Resources Ltd CNQ.TO, Air Canada AC.TO and Hexo Corp HEXO.TO. * Lagging shares were Centerra Gold Inc CG.TO, down 4.9%, Pretium Resources Inc PVG.TO, down 4.7%, and Torex Gold Resources Inc TXG.TO, lower by 3.4%. * The TSX's energy group .SPTTEN rose 1.37 points, or 1.7%, while the financials sector .SPTTFS climbed 4.79 points, or 1.9%. | * The most heavily traded shares by volume were Canadian Natural Resources Ltd CNQ.TO, Air Canada AC.TO and Hexo Corp HEXO.TO. * The Toronto Stock Exchange's TSX rises 1.37 percent to 15,256.57 * Leading the index were Shawcor Ltd , up 35.9%, Secure Energy Services Inc SES.TO, up 12.9%, and Ballard Power Systems Inc BLDP.TO, higher by 10.7%. * On the TSX 196 issues rose and 33 fell as a 5.9-to-1 ratio favored advancers. |
35153.0 | 2020-06-12 00:00:00 UTC | Canada to mandate temperature checks for airline passengers, Trudeau says | AC | https://www.nasdaq.com/articles/canada-to-mandate-temperature-checks-for-airline-passengers-trudeau-says-2020-06-12 | nan | nan | OTTAWA, June 12 (Reuters) - Canada will make it a requirement to take airline passengers' temperatures before they fly and anyone with a fever will not be allowed to travel, Prime Minister Justin Trudeau said on Friday.
"Temperature checks will not be detecting people with COVID-19," Trudeau said in a news conference. "It's an extra layer of safety to encourage those who might feel sick to stay home."
(Reporting by Steve Scherer Editing by Chizu Nomiyama)
((steve.scherer@thomsonreuters.com; +1-613-235-6745;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, June 12 (Reuters) - Canada will make it a requirement to take airline passengers' temperatures before they fly and anyone with a fever will not be allowed to travel, Prime Minister Justin Trudeau said on Friday. "Temperature checks will not be detecting people with COVID-19," Trudeau said in a news conference. "It's an extra layer of safety to encourage those who might feel sick to stay home." | OTTAWA, June 12 (Reuters) - Canada will make it a requirement to take airline passengers' temperatures before they fly and anyone with a fever will not be allowed to travel, Prime Minister Justin Trudeau said on Friday. "Temperature checks will not be detecting people with COVID-19," Trudeau said in a news conference. (Reporting by Steve Scherer Editing by Chizu Nomiyama) ((steve.scherer@thomsonreuters.com; +1-613-235-6745;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, June 12 (Reuters) - Canada will make it a requirement to take airline passengers' temperatures before they fly and anyone with a fever will not be allowed to travel, Prime Minister Justin Trudeau said on Friday. "It's an extra layer of safety to encourage those who might feel sick to stay home." (Reporting by Steve Scherer Editing by Chizu Nomiyama) ((steve.scherer@thomsonreuters.com; +1-613-235-6745;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, June 12 (Reuters) - Canada will make it a requirement to take airline passengers' temperatures before they fly and anyone with a fever will not be allowed to travel, Prime Minister Justin Trudeau said on Friday. "Temperature checks will not be detecting people with COVID-19," Trudeau said in a news conference. "It's an extra layer of safety to encourage those who might feel sick to stay home." |
35154.0 | 2020-06-11 00:00:00 UTC | Air Canada CEO urges Trudeau's government to relax travel curbs - Bloomberg News | AC | https://www.nasdaq.com/articles/air-canada-ceo-urges-trudeaus-government-to-relax-travel-curbs-bloomberg-news-2020-06-11 | nan | nan | June 11 (Reuters) - Air Canada AC.TO Chief Executive Officer Calin Rovinescu on Thursday urged the Canadian government to relax travel restrictions as they have been hurting the company's sales, Bloomberg News reported.
Rovinescu called the government's curbs on travelers "disproportionate" as the COVID-19 pandemic was easing in many parts of the country, the report said. (https://bloom.bg/2YpwXu2)
"Enable us to do some reasonable amounts of business," he said, according to the report, while speaking on a webcast with publishing and event production company Aviation Week.
Rovinescu's remarks were in the context of a letter sent to Prime Minister Justin Trudeau from the Canadian travel and tourism industry, calling for a national plan to cut back pandemic travel restrictions, Air Canada said.
He is a signatory to the letter, which featured in the Globe and Mail newspaper on Thursday.
Canada and the United States are set to extend a ban on non-essential travel to late July as both countries seek to control the spread of the new coronavirus, Reuters reported on Tuesday, citing three sources familiar with the matter.
Washington and Ottawa introduced month-long restrictions in March and renewed them in April and May. The ban, due to expire on June 21, does not affect trade.
Airlines, including Air Canada, have been among the worst hit as coronavirus-led travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs as revenue dried up.
Rousseau said last month Air Canada was seeing fewer cancellations and an improvement in demand for air travel as lockdowns eased. Canada's largest carrier has announced a summer schedule with nearly 100 destinations.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli)
((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 11 (Reuters) - Air Canada AC.TO Chief Executive Officer Calin Rovinescu on Thursday urged the Canadian government to relax travel restrictions as they have been hurting the company's sales, Bloomberg News reported. (https://bloom.bg/2YpwXu2) "Enable us to do some reasonable amounts of business," he said, according to the report, while speaking on a webcast with publishing and event production company Aviation Week. Rovinescu's remarks were in the context of a letter sent to Prime Minister Justin Trudeau from the Canadian travel and tourism industry, calling for a national plan to cut back pandemic travel restrictions, Air Canada said. | June 11 (Reuters) - Air Canada AC.TO Chief Executive Officer Calin Rovinescu on Thursday urged the Canadian government to relax travel restrictions as they have been hurting the company's sales, Bloomberg News reported. Rovinescu's remarks were in the context of a letter sent to Prime Minister Justin Trudeau from the Canadian travel and tourism industry, calling for a national plan to cut back pandemic travel restrictions, Air Canada said. (https://bloom.bg/2YpwXu2) "Enable us to do some reasonable amounts of business," he said, according to the report, while speaking on a webcast with publishing and event production company Aviation Week. | June 11 (Reuters) - Air Canada AC.TO Chief Executive Officer Calin Rovinescu on Thursday urged the Canadian government to relax travel restrictions as they have been hurting the company's sales, Bloomberg News reported. Rovinescu's remarks were in the context of a letter sent to Prime Minister Justin Trudeau from the Canadian travel and tourism industry, calling for a national plan to cut back pandemic travel restrictions, Air Canada said. (https://bloom.bg/2YpwXu2) "Enable us to do some reasonable amounts of business," he said, according to the report, while speaking on a webcast with publishing and event production company Aviation Week. | June 11 (Reuters) - Air Canada AC.TO Chief Executive Officer Calin Rovinescu on Thursday urged the Canadian government to relax travel restrictions as they have been hurting the company's sales, Bloomberg News reported. (https://bloom.bg/2YpwXu2) "Enable us to do some reasonable amounts of business," he said, according to the report, while speaking on a webcast with publishing and event production company Aviation Week. Rovinescu's remarks were in the context of a letter sent to Prime Minister Justin Trudeau from the Canadian travel and tourism industry, calling for a national plan to cut back pandemic travel restrictions, Air Canada said. |
35155.0 | 2020-06-11 00:00:00 UTC | Canadian tour operator Transat to resume some flights to Europe, United States | AC | https://www.nasdaq.com/articles/canadian-tour-operator-transat-to-resume-some-flights-to-europe-united-states-2020-06-11 | nan | nan | June 11 (Reuters) - Canadian tour operator Transat AT Inc TRZ.TO said on Thursday it would resume some flights to Europe and the United States, as well as domestic flights across major Canadian cities from July 23.
The company said it would offer a new flight schedule for 22 destinations till October 31, and will gradually reopen travel agencies in its network starting June 15.
However, Transat would keep flights suspended to certain destinations in Europe and the United States till October-end due to COVID-19 and its impact on the tourism industry.
The tour operator is also suspending all its direct flights to Europe and the South from Vancouver and Quebec City, the company said.
Transat last year accepted Air Canada's AC.TO all-cash buyout bid of C$520 million ($396 million), and the deal is expected to close in the fourth quarter of 2020.
However, EU antitrust regulators have said the deal may result in higher prices and less choice for flights between Europe and Canada.
Canada is now narrowly easing some border restrictions to allow immediate family members of Canadian citizens and permanent residents separated because of the coronavirus pandemic to reunite, officials said earlier this week.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Vinay Dwivedi)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | However, Transat would keep flights suspended to certain destinations in Europe and the United States till October-end due to COVID-19 and its impact on the tourism industry. June 11 (Reuters) - Canadian tour operator Transat AT Inc TRZ.TO said on Thursday it would resume some flights to Europe and the United States, as well as domestic flights across major Canadian cities from July 23. Transat last year accepted Air Canada's AC.TO all-cash buyout bid of C$520 million ($396 million), and the deal is expected to close in the fourth quarter of 2020. | June 11 (Reuters) - Canadian tour operator Transat AT Inc TRZ.TO said on Thursday it would resume some flights to Europe and the United States, as well as domestic flights across major Canadian cities from July 23. However, Transat would keep flights suspended to certain destinations in Europe and the United States till October-end due to COVID-19 and its impact on the tourism industry. Transat last year accepted Air Canada's AC.TO all-cash buyout bid of C$520 million ($396 million), and the deal is expected to close in the fourth quarter of 2020. | June 11 (Reuters) - Canadian tour operator Transat AT Inc TRZ.TO said on Thursday it would resume some flights to Europe and the United States, as well as domestic flights across major Canadian cities from July 23. However, Transat would keep flights suspended to certain destinations in Europe and the United States till October-end due to COVID-19 and its impact on the tourism industry. Transat last year accepted Air Canada's AC.TO all-cash buyout bid of C$520 million ($396 million), and the deal is expected to close in the fourth quarter of 2020. | June 11 (Reuters) - Canadian tour operator Transat AT Inc TRZ.TO said on Thursday it would resume some flights to Europe and the United States, as well as domestic flights across major Canadian cities from July 23. However, Transat would keep flights suspended to certain destinations in Europe and the United States till October-end due to COVID-19 and its impact on the tourism industry. Transat last year accepted Air Canada's AC.TO all-cash buyout bid of C$520 million ($396 million), and the deal is expected to close in the fourth quarter of 2020. |
35156.0 | 2020-06-09 00:00:00 UTC | TSX falls as energy stocks slide due to lower oil prices | AC | https://www.nasdaq.com/articles/tsx-falls-as-energy-stocks-slide-due-to-lower-oil-prices-2020-06-09 | nan | nan | June 9 (Reuters) - Canada's main stock index fell on Tuesday, dragged down by energy stocks as oil prices fell, while investors looked forward to the U.S. Federal Reserve's two-day meeting for cues on economic policy.
* At 9:43 a.m. ET (13:43 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 136.68 points, or 0.86%, at 15,838.23.
* The energy sector .SPTTEN dropped 2.3% as U.S. crude CLc1 prices were down 0.6% a barrel, while Brent crude LCOc1 lost 1.1%, weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts. O/R
* The financials sector .SPTTFS slipped 1.3%, while the industrials sector .GSPTTIN fell 1.0%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 0.5% as gold futures GCc1 rose 1.0% to $1,714.5 an ounce. GOL/
* On the TSX, 45 issues were higher, while 183 issues declined for a 4.07-to-1 ratio to the downside, with 46.83 million shares traded.
* The largest percentage gainer on the TSX was pot producer Hexo Corp , which jumped 9.6%, followed by Bombardier Inc that rose 8.6% after brokerage Scotiabank raised rating and PT on the business jet maker's stock.
* Oilfield services and equipment provider Shawcor Ltd fell 12.7%, the most on the TSX, followed by Air Canada that lost 7.6%.
* The most heavily traded shares by volume were Bombardier Inc , Hexo Corp and Air Canada .
* The TSX posted no new 52-week high or low.
* Across all Canadian issues, there were five new 52-week highs and no new low, with total volume of 81.27 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. | * Across all Canadian issues, there were five new 52-week highs and no new low, with total volume of 81.27 million shares. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 0.5% as gold futures GCc1 rose 1.0% to $1,714.5 an ounce. * The largest percentage gainer on the TSX was pot producer Hexo Corp , which jumped 9.6%, followed by Bombardier Inc that rose 8.6% after brokerage Scotiabank raised rating and PT on the business jet maker's stock. | * Across all Canadian issues, there were five new 52-week highs and no new low, with total volume of 81.27 million shares. June 9 (Reuters) - Canada's main stock index fell on Tuesday, dragged down by energy stocks as oil prices fell, while investors looked forward to the U.S. Federal Reserve's two-day meeting for cues on economic policy. GOL/ * On the TSX, 45 issues were higher, while 183 issues declined for a 4.07-to-1 ratio to the downside, with 46.83 million shares traded. | * Across all Canadian issues, there were five new 52-week highs and no new low, with total volume of 81.27 million shares. June 9 (Reuters) - Canada's main stock index fell on Tuesday, dragged down by energy stocks as oil prices fell, while investors looked forward to the U.S. Federal Reserve's two-day meeting for cues on economic policy. * The energy sector .SPTTEN dropped 2.3% as U.S. crude CLc1 prices were down 0.6% a barrel, while Brent crude LCOc1 lost 1.1%, weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts. | * Across all Canadian issues, there were five new 52-week highs and no new low, with total volume of 81.27 million shares. June 9 (Reuters) - Canada's main stock index fell on Tuesday, dragged down by energy stocks as oil prices fell, while investors looked forward to the U.S. Federal Reserve's two-day meeting for cues on economic policy. * The most heavily traded shares by volume were Bombardier Inc , Hexo Corp and Air Canada . |
35157.0 | 2020-06-09 00:00:00 UTC | CANADA STOCKS - TSX falls 0.88% to 15,833.74 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-0.88-to-15833.74-2020-06-09 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.88 percent to 15,833.74
* Leading the index were Bombardier Inc , up 8.6%, Centerra Gold Inc CG.TO, up 5.8%, and Martinrea International Inc MRE.TO, higher by 5.4%.
* Lagging shares were Shawcor Ltd SCL.TO, down 16.8%, Air Canada AC.TO, down 10.2%, and Baytex Energy Corp BTE.TO, lower by 9.6%.
* On the TSX 58 issues rose and 169 fell as a 0.3-to-1 ratio favored decliners. There were no and no new lows, with total volume of 360.2 million shares.
* The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Hexo Corp HEXO.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN fell 3.34 points, or 3.5%, while the financials sector .SPTTFS slipped 2.92 points, or 1.0%.
* West Texas Intermediate crude futures CLc1 rose 0.52%, or $0.2, to $38.39 a barrel. Brent crude LCOc1 fell 0.12%, or $0.06, to $40.74 O/R
* The TSX is off 7.2% 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. | * Lagging shares were Shawcor Ltd SCL.TO, down 16.8%, Air Canada AC.TO, down 10.2%, and Baytex Energy Corp BTE.TO, lower by 9.6%. * The Toronto Stock Exchange's TSX falls 0.88 percent to 15,833.74 * Leading the index were Bombardier Inc , up 8.6%, Centerra Gold Inc CG.TO, up 5.8%, and Martinrea International Inc MRE.TO, higher by 5.4%. * The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Hexo Corp HEXO.TO and Suncor Energy Inc SU.TO. | * Lagging shares were Shawcor Ltd SCL.TO, down 16.8%, Air Canada AC.TO, down 10.2%, and Baytex Energy Corp BTE.TO, lower by 9.6%. * The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Hexo Corp HEXO.TO and Suncor Energy Inc SU.TO. * The TSX's energy group .SPTTEN fell 3.34 points, or 3.5%, while the financials sector .SPTTFS slipped 2.92 points, or 1.0%. | * Lagging shares were Shawcor Ltd SCL.TO, down 16.8%, Air Canada AC.TO, down 10.2%, and Baytex Energy Corp BTE.TO, lower by 9.6%. * The Toronto Stock Exchange's TSX falls 0.88 percent to 15,833.74 * Leading the index were Bombardier Inc , up 8.6%, Centerra Gold Inc CG.TO, up 5.8%, and Martinrea International Inc MRE.TO, higher by 5.4%. * The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Hexo Corp HEXO.TO and Suncor Energy Inc SU.TO. | * Lagging shares were Shawcor Ltd SCL.TO, down 16.8%, Air Canada AC.TO, down 10.2%, and Baytex Energy Corp BTE.TO, lower by 9.6%. * The Toronto Stock Exchange's TSX falls 0.88 percent to 15,833.74 * Leading the index were Bombardier Inc , up 8.6%, Centerra Gold Inc CG.TO, up 5.8%, and Martinrea International Inc MRE.TO, higher by 5.4%. * The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Hexo Corp HEXO.TO and Suncor Energy Inc SU.TO. |
35158.0 | 2020-06-09 00:00:00 UTC | EXCLUSIVE-Canada, U.S. set to extend border closure to end-July -sources | AC | https://www.nasdaq.com/articles/exclusive-canada-u.s.-set-to-extend-border-closure-to-end-july-sources-2020-06-09 | nan | nan | By David Ljunggren and Steve Scherer
OTTAWA, June 9 (Reuters) - Canada and the United States are set to extend a ban on non-essential travel to late July as both countries seek to control the spread of the coronavirus, according to three sources familiar with the matter.
Washington and Ottawa introduced month-long restrictions in March and renewed them in April and May. The ban, currently due to expire on June 21, does not affect trade.
Canadian and U.S. sources said although the governments had not yet taken a final decision, a further extension was highly likely.
"It's going to be a clean rollover" on June 21, said a U.S. source who requested anonymity given the sensitivity of the situation. "We will want to look at it again in July."
The U.S. Department of Homeland Security was not immediately available for comment.
Data show that while the outbreak is slowing across the 10 Canadian provinces, new cases show little sign of abating in Toronto and Montreal, the country's two largest cities.
A majority of provinces have privately told Ottawa they are reluctant to resume non-essential travel, said a second source.
Several provinces have clamped down on travel within Canada, and a third Canadian source said these inter-provincial restrictions would make it hard to lift the ban on non-essential travel with the United States.
More than 110,000 people have died of the coronavirus in the United States, one of the world's worst-hit nations. Canada reported 7,835 deaths, and 96,244 coronavirus cases on June 9.
A spokeswoman for Canadian Deputy Prime Minister Chrystia Freeland, who has overall responsibility for ties with the United States, said both sides agreed the ban had worked well.
Extending the measures would hurt Canadian airlines and the tourism industry.
Carriers, including Air Canada AC.TO, have been among the worst hit as travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs.
"There is a push from some sectors for reopening (the border), like Air Canada," a Canadian government source said.
Asked about reopening the border, Air Canada said in a statement that governments around the world are relaxing restrictions and said it was working with tourism and industry groups to "streamline and clarify rules around travel".
(Additional reporting by Ted Hesson in Washington and Allison Lampert in Montreal)
((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.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 David Ljunggren and Steve Scherer OTTAWA, June 9 (Reuters) - Canada and the United States are set to extend a ban on non-essential travel to late July as both countries seek to control the spread of the coronavirus, according to three sources familiar with the matter. Data show that while the outbreak is slowing across the 10 Canadian provinces, new cases show little sign of abating in Toronto and Montreal, the country's two largest cities. Carriers, including Air Canada AC.TO, have been among the worst hit as travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs. | By David Ljunggren and Steve Scherer OTTAWA, June 9 (Reuters) - Canada and the United States are set to extend a ban on non-essential travel to late July as both countries seek to control the spread of the coronavirus, according to three sources familiar with the matter. Data show that while the outbreak is slowing across the 10 Canadian provinces, new cases show little sign of abating in Toronto and Montreal, the country's two largest cities. Carriers, including Air Canada AC.TO, have been among the worst hit as travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs. | By David Ljunggren and Steve Scherer OTTAWA, June 9 (Reuters) - Canada and the United States are set to extend a ban on non-essential travel to late July as both countries seek to control the spread of the coronavirus, according to three sources familiar with the matter. Data show that while the outbreak is slowing across the 10 Canadian provinces, new cases show little sign of abating in Toronto and Montreal, the country's two largest cities. Carriers, including Air Canada AC.TO, have been among the worst hit as travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs. | By David Ljunggren and Steve Scherer OTTAWA, June 9 (Reuters) - Canada and the United States are set to extend a ban on non-essential travel to late July as both countries seek to control the spread of the coronavirus, according to three sources familiar with the matter. Data show that while the outbreak is slowing across the 10 Canadian provinces, new cases show little sign of abating in Toronto and Montreal, the country's two largest cities. Carriers, including Air Canada AC.TO, have been among the worst hit as travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs. |
35159.0 | 2020-06-05 00:00:00 UTC | TSX rises 2.1% to 15,854.07 | AC | https://www.nasdaq.com/articles/tsx-rises-2.1-to-15854.07-2020-06-05 | nan | nan | * The Toronto Stock Exchange's TSX rises 2.10 percent to 15,854.07
* Leading the index were Shawcor Ltd , up 69.9%, Baytex Energy Corp BTE.TO, up 25.4%, and Secure Energy Services Inc SES.TO, higher by 22.5%.
* Lagging shares were Torex Gold Resources Inc TXG.TO, down 7.1%, Alamos Gold Inc AGI.TO, down 3.9%, and Wheaton Precious Metals Corp WPM.TO, lower by 3.8%.
* On the TSX 173 issues rose and 55 fell as a 3.1-to-1 ratio favored advancers. There were 2 new highs and no new lows, with total volume of 378.2 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, Bombardier Inc BBDb.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN rose 6.76 points, or 7.9%, while the financials sector .SPTTFS climbed 8.22 points, or 3.1%.
* West Texas Intermediate crude futures CLc1 rose 4.17%, or $1.56, to $38.97 a barrel. Brent crude LCOc1 rose 4.65%, or $1.86, to $41.85 O/R
* The TSX is off 7.1% 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 Air Canada AC.TO, Bombardier Inc BBDb.TO and Suncor Energy Inc SU.TO. * On the TSX 173 issues rose and 55 fell as a 3.1-to-1 ratio favored advancers. * West Texas Intermediate crude futures CLc1 rose 4.17%, or $1.56, to $38.97 a barrel. | * The most heavily traded shares by volume were Air Canada AC.TO, Bombardier Inc BBDb.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 2.10 percent to 15,854.07 * Leading the index were Shawcor Ltd , up 69.9%, Baytex Energy Corp BTE.TO, up 25.4%, and Secure Energy Services Inc SES.TO, higher by 22.5%. * The TSX's energy group .SPTTEN rose 6.76 points, or 7.9%, while the financials sector .SPTTFS climbed 8.22 points, or 3.1%. | * The most heavily traded shares by volume were Air Canada AC.TO, Bombardier Inc BBDb.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 2.10 percent to 15,854.07 * Leading the index were Shawcor Ltd , up 69.9%, Baytex Energy Corp BTE.TO, up 25.4%, and Secure Energy Services Inc SES.TO, higher by 22.5%. * Lagging shares were Torex Gold Resources Inc TXG.TO, down 7.1%, Alamos Gold Inc AGI.TO, down 3.9%, and Wheaton Precious Metals Corp WPM.TO, lower by 3.8%. | * The most heavily traded shares by volume were Air Canada AC.TO, Bombardier Inc BBDb.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 2.10 percent to 15,854.07 * Leading the index were Shawcor Ltd , up 69.9%, Baytex Energy Corp BTE.TO, up 25.4%, and Secure Energy Services Inc SES.TO, higher by 22.5%. * Lagging shares were Torex Gold Resources Inc TXG.TO, down 7.1%, Alamos Gold Inc AGI.TO, down 3.9%, and Wheaton Precious Metals Corp WPM.TO, lower by 3.8%. |
35160.0 | 2020-06-05 00:00:00 UTC | TSX hits 3-month high on better-than-expected jobs data, oil price rise | AC | https://www.nasdaq.com/articles/tsx-hits-3-month-high-on-better-than-expected-jobs-data-oil-price-rise-2020-06-05 | nan | nan | June 5 (Reuters) - Canada's main stock index hit a three-month high on Friday, helped by tentative signs of a rebound in domestic employment rate and energy stocks that gained on a jump in oil prices.
* At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 308.13 points, or 1.98%, at 15,836, its highest since March 6.
* The nation gained 289,600 jobs surprisingly in May while analysts were expecting job losses, even as the unemployment rate reached a record high of 13.7%, data showed on Friday.
* The energy sector .SPTTEN climbed 6.8% as U.S. crude CLc1 prices were up 4.1% a barrel, while Brent crude LCOc1 added 4.7%. O/R
* OPEC and its allies led by Russia will meet on Saturday to discuss extending record oil production cuts and to push laggards such as Iraq and Nigeria to comply with existing curbs.
* The financials sector .SPTTFS gained 3.6*. The industrials sector .GSPTTIN rose 2.2%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 2.6% as gold futures GCc1 fell 2.3% to $1,680.2 an ounce. GOL/
* On the TSX, 192 issues were higher, while 38 issues declined for a 5.05-to-1 ratio favouring gainers, with 50.34 million shares traded.
* The largest percentage gainers on the TSX were oilfield services and equipment provider Shawcor Ltd , which jumped 15.8% and oil producer Baytex Energy Corp , which rose 14.9%.
* NovaGold Resources Inc fell 7.3%, the most on the TSX, and the second biggest decliner was Pan American Silver Corp , down 5.9%.
* The most heavily traded shares by volume were Suncor Energy Inc , up 7%; Air Canada , up 14.1% and Baytex Energy Corp , up 14.9%.
* The TSX posted two new 52-week highs and no new lows.
* Across all Canadian issues there were eight new 52-week highs and six new lows, with total volume of 82.38 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 nation gained 289,600 jobs surprisingly in May while analysts were expecting job losses, even as the unemployment rate reached a record high of 13.7%, data showed on Friday. * Across all Canadian issues there were eight new 52-week highs and six new lows, with total volume of 82.38 million shares. O/R * OPEC and its allies led by Russia will meet on Saturday to discuss extending record oil production cuts and to push laggards such as Iraq and Nigeria to comply with existing curbs. | * The nation gained 289,600 jobs surprisingly in May while analysts were expecting job losses, even as the unemployment rate reached a record high of 13.7%, data showed on Friday. * Across all Canadian issues there were eight new 52-week highs and six new lows, with total volume of 82.38 million shares. June 5 (Reuters) - Canada's main stock index hit a three-month high on Friday, helped by tentative signs of a rebound in domestic employment rate and energy stocks that gained on a jump in oil prices. | * The nation gained 289,600 jobs surprisingly in May while analysts were expecting job losses, even as the unemployment rate reached a record high of 13.7%, data showed on Friday. * Across all Canadian issues there were eight new 52-week highs and six new lows, with total volume of 82.38 million shares. June 5 (Reuters) - Canada's main stock index hit a three-month high on Friday, helped by tentative signs of a rebound in domestic employment rate and energy stocks that gained on a jump in oil prices. | * The nation gained 289,600 jobs surprisingly in May while analysts were expecting job losses, even as the unemployment rate reached a record high of 13.7%, data showed on Friday. * Across all Canadian issues there were eight new 52-week highs and six new lows, with total volume of 82.38 million shares. June 5 (Reuters) - Canada's main stock index hit a three-month high on Friday, helped by tentative signs of a rebound in domestic employment rate and energy stocks that gained on a jump in oil prices. |
35161.0 | 2020-06-04 00:00:00 UTC | TSX falls 0.3% to 15,527.87 | AC | https://www.nasdaq.com/articles/tsx-falls-0.3-to-15527.87-2020-06-04 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.30 percent to 15,527.87
* Leading the index were Secure Energy Services Inc , up 28.0%, Shawcor Ltd SCL.TO, up 16.1%, and Methanex Corp MX.TO, higher by 9.1%.
* Lagging shares were First Quantum Minerals Ltd FM.TO, down 4.6%, Canadian Tire Corporation Ltd CTCa.TO, down 4.0%, and Shopify Inc SHOP.TO, lower by 3.6%.
* On the TSX 125 issues rose and 101 fell as a 1.2-to-1 ratio favored advancers. There was 1 new high and no new lows, with total volume of 299.5 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, Canadian Natural Resources Ltd CNQ.TO and Bombardier Inc BBDb.TO.
* The TSX's energy group .SPTTEN rose 1.15 points, or 1.4%, while the financials sector .SPTTFS climbed 0.07 points, or 0.0%.
* West Texas Intermediate crude futures CLc1 rose 0.11%, or $0.04, to $37.33 a barrel. Brent crude LCOc1 rose 0.33%, or $0.13, to $39.92 O/R
* The TSX is off 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, Canadian Natural Resources Ltd CNQ.TO and Bombardier Inc BBDb.TO. * The Toronto Stock Exchange's TSX falls 0.30 percent to 15,527.87 * Leading the index were Secure Energy Services Inc , up 28.0%, Shawcor Ltd SCL.TO, up 16.1%, and Methanex Corp MX.TO, higher by 9.1%. * Lagging shares were First Quantum Minerals Ltd FM.TO, down 4.6%, Canadian Tire Corporation Ltd CTCa.TO, down 4.0%, and Shopify Inc SHOP.TO, lower by 3.6%. | * The most heavily traded shares by volume were Air Canada AC.TO, Canadian Natural Resources Ltd CNQ.TO and Bombardier Inc BBDb.TO. * On the TSX 125 issues rose and 101 fell as a 1.2-to-1 ratio favored advancers. * The TSX's energy group .SPTTEN rose 1.15 points, or 1.4%, while the financials sector .SPTTFS climbed 0.07 points, or 0.0%. | * The most heavily traded shares by volume were Air Canada AC.TO, Canadian Natural Resources Ltd CNQ.TO and Bombardier Inc BBDb.TO. * The Toronto Stock Exchange's TSX falls 0.30 percent to 15,527.87 * Leading the index were Secure Energy Services Inc , up 28.0%, Shawcor Ltd SCL.TO, up 16.1%, and Methanex Corp MX.TO, higher by 9.1%. * The TSX's energy group .SPTTEN rose 1.15 points, or 1.4%, while the financials sector .SPTTFS climbed 0.07 points, or 0.0%. | * The most heavily traded shares by volume were Air Canada AC.TO, Canadian Natural Resources Ltd CNQ.TO and Bombardier Inc BBDb.TO. * The Toronto Stock Exchange's TSX falls 0.30 percent to 15,527.87 * Leading the index were Secure Energy Services Inc , up 28.0%, Shawcor Ltd SCL.TO, up 16.1%, and Methanex Corp MX.TO, higher by 9.1%. * On the TSX 125 issues rose and 101 fell as a 1.2-to-1 ratio favored advancers. |
35162.0 | 2020-06-03 00:00:00 UTC | Canada to require most airport workers, flight crews to wear masks | AC | https://www.nasdaq.com/articles/canada-to-require-most-airport-workers-flight-crews-to-wear-masks-2020-06-03 | nan | nan | By Steve Scherer and Kelsey Johnson
OTTAWA, June 3 (Reuters) - Canada will require most airport workers and flight crews to wear non-medical masks from June 4, but pilots will be exempt while they are on the flight deck, Transport Minister Marc Garneau said on Wednesday.
Airline passengers have been required to wear face coverings since April.
Garneau, asked why masks for transport staff were imposed more than a month after passengers, acknowledged the new measures could have been done "a little sooner", but said organizing the new rules and consulting with all affected industry took time.
"The measures we are putting in place today will further reduce the risk of transmission of COVID-19 for transportation workers and passengers," he said, referring to the disease caused by the novel coronavirus.
Maritime and rail workers will be provided masks, while rail passengers will be asked to have one at hand in case they are not able to physically distance, Garneau said.
In Canada, there have been no broad requirements to wear a mask in public, but on May 20 it was recommended for people who could not maintain physical distancing.
Canada's coronavirus deaths rose less than 1% to 7,414 on Wednesday from a day earlier, official data showed.
The plan laid out by the International Air Transport Association (IATA) and Airports Council International last month to reassure governments it is safe for the public to fly included contact tracing, temperature screening, social distancing, extra cleaning and the wearing of masks.
(Reporting by Steve Scherer and Kelsey Johnson; Editing by Franklin Paul and Bernadette Baum)
((steve.scherer@thomsonreuters.com; +1-613-235-6745;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Garneau, asked why masks for transport staff were imposed more than a month after passengers, acknowledged the new measures could have been done "a little sooner", but said organizing the new rules and consulting with all affected industry took time. "The measures we are putting in place today will further reduce the risk of transmission of COVID-19 for transportation workers and passengers," he said, referring to the disease caused by the novel coronavirus. Airline passengers have been required to wear face coverings since April. | Airline passengers have been required to wear face coverings since April. Garneau, asked why masks for transport staff were imposed more than a month after passengers, acknowledged the new measures could have been done "a little sooner", but said organizing the new rules and consulting with all affected industry took time. "The measures we are putting in place today will further reduce the risk of transmission of COVID-19 for transportation workers and passengers," he said, referring to the disease caused by the novel coronavirus. | The plan laid out by the International Air Transport Association (IATA) and Airports Council International last month to reassure governments it is safe for the public to fly included contact tracing, temperature screening, social distancing, extra cleaning and the wearing of masks. Airline passengers have been required to wear face coverings since April. Garneau, asked why masks for transport staff were imposed more than a month after passengers, acknowledged the new measures could have been done "a little sooner", but said organizing the new rules and consulting with all affected industry took time. | Airline passengers have been required to wear face coverings since April. Garneau, asked why masks for transport staff were imposed more than a month after passengers, acknowledged the new measures could have been done "a little sooner", but said organizing the new rules and consulting with all affected industry took time. "The measures we are putting in place today will further reduce the risk of transmission of COVID-19 for transportation workers and passengers," he said, referring to the disease caused by the novel coronavirus. |
35163.0 | 2020-06-03 00:00:00 UTC | Canada to require most airport workers, flight crews to wear masks - transport minister | AC | https://www.nasdaq.com/articles/canada-to-require-most-airport-workers-flight-crews-to-wear-masks-transport-minister-2020 | nan | nan | OTTAWA, June 3 (Reuters) - Canada will require most airport workers and flight crews to wear non-medical masks from June 4, but pilots will be exempt while they are on the flight deck, Transport Minister Marc Garneau said on Wednesday.
Airline passengers have been required to wear masks since April. Rail workers will be provided masks and passengers will be asked to have one at hand in case they are not able to physically distance.
(Reporting by Steve Scherer and Kelsey Johnson, Editing by Franklin Paul)
((steve.scherer@thomsonreuters.com; +1-613-235-6745;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, June 3 (Reuters) - Canada will require most airport workers and flight crews to wear non-medical masks from June 4, but pilots will be exempt while they are on the flight deck, Transport Minister Marc Garneau said on Wednesday. Rail workers will be provided masks and passengers will be asked to have one at hand in case they are not able to physically distance. (Reporting by Steve Scherer and Kelsey Johnson, Editing by Franklin Paul) ((steve.scherer@thomsonreuters.com; +1-613-235-6745;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, June 3 (Reuters) - Canada will require most airport workers and flight crews to wear non-medical masks from June 4, but pilots will be exempt while they are on the flight deck, Transport Minister Marc Garneau said on Wednesday. Airline passengers have been required to wear masks since April. (Reporting by Steve Scherer and Kelsey Johnson, Editing by Franklin Paul) ((steve.scherer@thomsonreuters.com; +1-613-235-6745;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, June 3 (Reuters) - Canada will require most airport workers and flight crews to wear non-medical masks from June 4, but pilots will be exempt while they are on the flight deck, Transport Minister Marc Garneau said on Wednesday. Rail workers will be provided masks and passengers will be asked to have one at hand in case they are not able to physically distance. (Reporting by Steve Scherer and Kelsey Johnson, Editing by Franklin Paul) ((steve.scherer@thomsonreuters.com; +1-613-235-6745;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, June 3 (Reuters) - Canada will require most airport workers and flight crews to wear non-medical masks from June 4, but pilots will be exempt while they are on the flight deck, Transport Minister Marc Garneau said on Wednesday. Airline passengers have been required to wear masks since April. Rail workers will be provided masks and passengers will be asked to have one at hand in case they are not able to physically distance. |
35164.0 | 2020-06-03 00:00:00 UTC | TSX hits 3-month high on recovery hopes; BoC stands pat | AC | https://www.nasdaq.com/articles/tsx-hits-3-month-high-on-recovery-hopes-boc-stands-pat-2020-06-03 | nan | nan | June 3 (Reuters) - Canada's main stock index clinched a new three-month high on Wednesday on optimism over reopening of global economies, while the country's central bank held interest rates unchanged as expected.
The Bank of Canada held its overnight rate at 0.25% on Wednesday, following a cumulative 150 basis points of cuts since the start of the COVID-19 pandemic. The decision was made on the same day new governor Tiff Macklem took helm.
* At 10:17 a.m. ET (14:17 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 141.37 points, or 0.92%, at 15,535.73.
* The rate-sensitive financials sector .SPTTFS gained 2.4% and the industrials sector .GSPTTIN rose 1.6%.
* The energy sector .SPTTEN climbed 1.4% as U.S. crude CLc1 prices gained 0.2% a barrel, while Brent crude LCOc1 lost 0.6%. O/R
* Bucking the trend, the materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 1.7% as gold futures GCc1 fell 1.0% to $1,707.4 an ounce GOL/MET/L
* On the TSX, 172 issues were higher, while 58 issues declined for a 2.97-to-1 ratio favoring gainers, with 45.30 million shares traded.
* The largest percentage gainers on the TSX were Baytex Energy Corp , which jumped 15.3% and Canada Goose Holdings Inc , which rose 12.8%.
* Mag Silver Corp MAG.TO fell 4.5%, the most on the TSX. The second-biggest decliner was Wheaton Precious Metals Corp WPM.TO, down 4.1%.
* The most heavily-traded shares by volume were Baytex, Air Canada and Gran Tierra Energy Inc .
* The TSX posted one new 52-week high and no new lows.
* Across all Canadian issues there were 10 new 52-week highs and four new lows, with a total volume of 77.21 million shares.
(Reporting by Medha Singh in Bengaluru; editing by Uttaresh.V)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6182 2802; Twitter: https://twitter.com/medhasinghs;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The decision was made on the same day new governor Tiff Macklem took helm. * Across all Canadian issues there were 10 new 52-week highs and four new lows, with a total volume of 77.21 million shares. June 3 (Reuters) - Canada's main stock index clinched a new three-month high on Wednesday on optimism over reopening of global economies, while the country's central bank held interest rates unchanged as expected. | The decision was made on the same day new governor Tiff Macklem took helm. * Across all Canadian issues there were 10 new 52-week highs and four new lows, with a total volume of 77.21 million shares. The Bank of Canada held its overnight rate at 0.25% on Wednesday, following a cumulative 150 basis points of cuts since the start of the COVID-19 pandemic. | The decision was made on the same day new governor Tiff Macklem took helm. * Across all Canadian issues there were 10 new 52-week highs and four new lows, with a total volume of 77.21 million shares. June 3 (Reuters) - Canada's main stock index clinched a new three-month high on Wednesday on optimism over reopening of global economies, while the country's central bank held interest rates unchanged as expected. | * Across all Canadian issues there were 10 new 52-week highs and four new lows, with a total volume of 77.21 million shares. The decision was made on the same day new governor Tiff Macklem took helm. June 3 (Reuters) - Canada's main stock index clinched a new three-month high on Wednesday on optimism over reopening of global economies, while the country's central bank held interest rates unchanged as expected. |
35165.0 | 2020-06-02 00:00:00 UTC | Philippines firm makes $535 mln bid for Australia's Infigen Energy | AC | https://www.nasdaq.com/articles/philippines-firm-makes-%24535-mln-bid-for-australias-infigen-energy-2020-06-02 | nan | nan | Adds chairman comments, Infigen share move
June 3 (Reuters) - A company part-owned by a unit of Philippine conglomerate Ayala Corp AC.PS said on Wednesday it will bid for Australian renewable energy company Infigen Energy IFN.AX in a takeover offer valuing it at about A$777 million ($535 million).
UAC Energy Holdings said it intended to make an all-cash takeover offer of A$0.80 per Infigen share.
Sydney-based Infigen Energy did not immediately respond to a request for a comment.
Infigen shares were down about 27% since hitting a record high of A$0.81 in early February, as of last close. The stock rose 35.6% to meet the offer price of A$0.80 on Wednesday.
UAC Energy Holdings, which is owned by UPC Renewables Group and Ayala Corp unit AC Energy, said in a statement the acquisition was an opportunity to invest in renewable energy.
"We have ready access to capital and significant renewable energy expertise that will position us well to support Infigen’s pipeline of projects and focus on much needed renewable energy investment and associated employment in Australia," UAC Chairman Anton Rohner said.
UAC also said it had acquired a 12.8% stake in Infigen.
($1 = 1.4514 Australian dollars)
(Reporting by Shreya Mariam Job in Bengaluru; Editing by Tom Hogue and Stephen Coates)
((ShreyaMariam.Job@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 chairman comments, Infigen share move June 3 (Reuters) - A company part-owned by a unit of Philippine conglomerate Ayala Corp AC.PS said on Wednesday it will bid for Australian renewable energy company Infigen Energy IFN.AX in a takeover offer valuing it at about A$777 million ($535 million). UAC Energy Holdings said it intended to make an all-cash takeover offer of A$0.80 per Infigen share. "We have ready access to capital and significant renewable energy expertise that will position us well to support Infigen’s pipeline of projects and focus on much needed renewable energy investment and associated employment in Australia," UAC Chairman Anton Rohner said. | Adds chairman comments, Infigen share move June 3 (Reuters) - A company part-owned by a unit of Philippine conglomerate Ayala Corp AC.PS said on Wednesday it will bid for Australian renewable energy company Infigen Energy IFN.AX in a takeover offer valuing it at about A$777 million ($535 million). UAC Energy Holdings said it intended to make an all-cash takeover offer of A$0.80 per Infigen share. UAC Energy Holdings, which is owned by UPC Renewables Group and Ayala Corp unit AC Energy, said in a statement the acquisition was an opportunity to invest in renewable energy. | Adds chairman comments, Infigen share move June 3 (Reuters) - A company part-owned by a unit of Philippine conglomerate Ayala Corp AC.PS said on Wednesday it will bid for Australian renewable energy company Infigen Energy IFN.AX in a takeover offer valuing it at about A$777 million ($535 million). UAC Energy Holdings, which is owned by UPC Renewables Group and Ayala Corp unit AC Energy, said in a statement the acquisition was an opportunity to invest in renewable energy. "We have ready access to capital and significant renewable energy expertise that will position us well to support Infigen’s pipeline of projects and focus on much needed renewable energy investment and associated employment in Australia," UAC Chairman Anton Rohner said. | UAC Energy Holdings, which is owned by UPC Renewables Group and Ayala Corp unit AC Energy, said in a statement the acquisition was an opportunity to invest in renewable energy. Adds chairman comments, Infigen share move June 3 (Reuters) - A company part-owned by a unit of Philippine conglomerate Ayala Corp AC.PS said on Wednesday it will bid for Australian renewable energy company Infigen Energy IFN.AX in a takeover offer valuing it at about A$777 million ($535 million). UAC Energy Holdings said it intended to make an all-cash takeover offer of A$0.80 per Infigen share. |
35166.0 | 2020-06-02 00:00:00 UTC | Ayala's indirect unit announces bid to buy Australia's Infigen Energy | AC | https://www.nasdaq.com/articles/ayalas-indirect-unit-announces-bid-to-buy-australias-infigen-energy-2020-06-02 | nan | nan | June 3 (Reuters) - UAC Energy Holdings, partly owned by a unit of Philippine conglomerate Ayala Corp AC.PS, said on Wednesday it will make a takeover bid for Australian renewable energy company Infigen Energy IFN.AX valuing it at about A$777 million ($535 million).
UAC said it intends to make a takeover bid of A$0.80 per Infigen share.
UAC also said it had acquired a 12.8% stake in Infigen.
($1 = 1.4514 Australian dollars)
(Reporting by Shreya Mariam Job in Bengaluru; Editing by Tom Hogue)
((ShreyaMariam.Job@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. | June 3 (Reuters) - UAC Energy Holdings, partly owned by a unit of Philippine conglomerate Ayala Corp AC.PS, said on Wednesday it will make a takeover bid for Australian renewable energy company Infigen Energy IFN.AX valuing it at about A$777 million ($535 million). UAC said it intends to make a takeover bid of A$0.80 per Infigen share. UAC also said it had acquired a 12.8% stake in Infigen. | June 3 (Reuters) - UAC Energy Holdings, partly owned by a unit of Philippine conglomerate Ayala Corp AC.PS, said on Wednesday it will make a takeover bid for Australian renewable energy company Infigen Energy IFN.AX valuing it at about A$777 million ($535 million). UAC said it intends to make a takeover bid of A$0.80 per Infigen share. UAC also said it had acquired a 12.8% stake in Infigen. | June 3 (Reuters) - UAC Energy Holdings, partly owned by a unit of Philippine conglomerate Ayala Corp AC.PS, said on Wednesday it will make a takeover bid for Australian renewable energy company Infigen Energy IFN.AX valuing it at about A$777 million ($535 million). UAC said it intends to make a takeover bid of A$0.80 per Infigen share. UAC also said it had acquired a 12.8% stake in Infigen. | June 3 (Reuters) - UAC Energy Holdings, partly owned by a unit of Philippine conglomerate Ayala Corp AC.PS, said on Wednesday it will make a takeover bid for Australian renewable energy company Infigen Energy IFN.AX valuing it at about A$777 million ($535 million). UAC said it intends to make a takeover bid of A$0.80 per Infigen share. UAC also said it had acquired a 12.8% stake in Infigen. |
35167.0 | 2020-06-02 00:00:00 UTC | Air Canada raises nearly C$1.6 bln amid COVID-19 pandemic | AC | https://www.nasdaq.com/articles/air-canada-raises-nearly-c%241.6-bln-amid-covid-19-pandemic-2020-06-02-0 | nan | nan | Adds comment from shareholder, context
June 2 (Reuters) - Air Canada AC.TO said on Tuesday it raised nearly C$1.6 billion ($1.18 billion) by selling shares and convertible debt to strengthen its balance sheet, in a sign investors are willing to back sectors hard hit by the coronavirus outbreak.
Airlines, including Air Canada, have been among the worst hit as coronavirus-led travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs as revenue dried up.
The Montreal-based company will use the funds for working capital needs and general corporate purposes. It will allow Air Canada to "better manage debt leverage and risk" as the market recovers, Chief Financial Officer Michael Rousseau said in a statement.
Rousseau said last month Air Canada was seeing fewer cancellations and an improvement in demand for air travel as lockdowns eased. Canada's largest carrier has announced a summer schedule with nearly 100 destinations.
"There's a willingness to lend money to companies that are able to bounce back," said a fund manager, who last month bought back Air Canada stock after selling earlier in the year. The portfolio manager, who was not authorized to speak with media, said the raise shows investors are willing to be patient.
Greg Taylor, a portfolio manager at Purpose Investments, who holds Air Canada shares, said the carrier was prudent to do the raise.
"When you have the ability to raise that much you should do it because you don't know what the uncertainty is going forward," he said.
In a note to clients, Scotiabank analyst Konark Gupta said he believes the worst is over for the airline industry and Air Canada's recent liquidity initiatives position it well during a multi-year recovery.
The airline's shareswere up 2.3% by afternoon, while the benchmark Canada share index was up 0.9%.
($1 = 1.3509 Canadian dollars)
(Reporting by Ankit Ajmera in Bengaluru, Fergal Smith in Toronto and Allison Lampert in Montreal; Editing by Ramakrishnan M. and Steve Orlofsky)
((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds comment from shareholder, context June 2 (Reuters) - Air Canada AC.TO said on Tuesday it raised nearly C$1.6 billion ($1.18 billion) by selling shares and convertible debt to strengthen its balance sheet, in a sign investors are willing to back sectors hard hit by the coronavirus outbreak. "There's a willingness to lend money to companies that are able to bounce back," said a fund manager, who last month bought back Air Canada stock after selling earlier in the year. Airlines, including Air Canada, have been among the worst hit as coronavirus-led travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs as revenue dried up. | Adds comment from shareholder, context June 2 (Reuters) - Air Canada AC.TO said on Tuesday it raised nearly C$1.6 billion ($1.18 billion) by selling shares and convertible debt to strengthen its balance sheet, in a sign investors are willing to back sectors hard hit by the coronavirus outbreak. "There's a willingness to lend money to companies that are able to bounce back," said a fund manager, who last month bought back Air Canada stock after selling earlier in the year. Greg Taylor, a portfolio manager at Purpose Investments, who holds Air Canada shares, said the carrier was prudent to do the raise. | Adds comment from shareholder, context June 2 (Reuters) - Air Canada AC.TO said on Tuesday it raised nearly C$1.6 billion ($1.18 billion) by selling shares and convertible debt to strengthen its balance sheet, in a sign investors are willing to back sectors hard hit by the coronavirus outbreak. "There's a willingness to lend money to companies that are able to bounce back," said a fund manager, who last month bought back Air Canada stock after selling earlier in the year. Greg Taylor, a portfolio manager at Purpose Investments, who holds Air Canada shares, said the carrier was prudent to do the raise. | "There's a willingness to lend money to companies that are able to bounce back," said a fund manager, who last month bought back Air Canada stock after selling earlier in the year. Adds comment from shareholder, context June 2 (Reuters) - Air Canada AC.TO said on Tuesday it raised nearly C$1.6 billion ($1.18 billion) by selling shares and convertible debt to strengthen its balance sheet, in a sign investors are willing to back sectors hard hit by the coronavirus outbreak. Airlines, including Air Canada, have been among the worst hit as coronavirus-led travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs as revenue dried up. |
35168.0 | 2020-06-02 00:00:00 UTC | Air Canada raises nearly C$1.6 bln amid COVID-19 pandemic | AC | https://www.nasdaq.com/articles/air-canada-raises-nearly-c%241.6-bln-amid-covid-19-pandemic-2020-06-02 | nan | nan | June 2 (Reuters) - Air Canada AC.TO said on Tuesday it raised nearly C$1.6 billion ($1.18 billion) through an offering of shares and convertible senior notes to strengthen its cash flow amid the coronavirus crisis.
Airlines, including Air Canada, have been among the worst hit as coronavirus-led travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs as sales dried up.
"This important financing will allow us to keep our strong relative position and better manage debt leverage and risk as government restrictions are lifted and the market recovers," Chief Financial Officer Michael Rousseau said in a statement.
Rousseau said last month Air Canada was seeing fewer cancellations and an improvement in demand for air travel as lockdowns eased.
($1 = 1.3509 Canadian dollars)
(Reporting by Ankit Ajmera in Bengaluru; Editing by Ramakrishnan M.)
((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 2 (Reuters) - Air Canada AC.TO said on Tuesday it raised nearly C$1.6 billion ($1.18 billion) through an offering of shares and convertible senior notes to strengthen its cash flow amid the coronavirus crisis. Airlines, including Air Canada, have been among the worst hit as coronavirus-led travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs as sales dried up. "This important financing will allow us to keep our strong relative position and better manage debt leverage and risk as government restrictions are lifted and the market recovers," Chief Financial Officer Michael Rousseau said in a statement. | June 2 (Reuters) - Air Canada AC.TO said on Tuesday it raised nearly C$1.6 billion ($1.18 billion) through an offering of shares and convertible senior notes to strengthen its cash flow amid the coronavirus crisis. Airlines, including Air Canada, have been among the worst hit as coronavirus-led travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs as sales dried up. Rousseau said last month Air Canada was seeing fewer cancellations and an improvement in demand for air travel as lockdowns eased. | June 2 (Reuters) - Air Canada AC.TO said on Tuesday it raised nearly C$1.6 billion ($1.18 billion) through an offering of shares and convertible senior notes to strengthen its cash flow amid the coronavirus crisis. Airlines, including Air Canada, have been among the worst hit as coronavirus-led travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs as sales dried up. Rousseau said last month Air Canada was seeing fewer cancellations and an improvement in demand for air travel as lockdowns eased. | June 2 (Reuters) - Air Canada AC.TO said on Tuesday it raised nearly C$1.6 billion ($1.18 billion) through an offering of shares and convertible senior notes to strengthen its cash flow amid the coronavirus crisis. Airlines, including Air Canada, have been among the worst hit as coronavirus-led travel bans resulted in thousands of flight cancellations, forcing carriers to cut jobs and costs as sales dried up. "This important financing will allow us to keep our strong relative position and better manage debt leverage and risk as government restrictions are lifted and the market recovers," Chief Financial Officer Michael Rousseau said in a statement. |
35169.0 | 2020-05-29 00:00:00 UTC | Canada 'needs' airline industry, is monitoring day by day -minister | AC | https://www.nasdaq.com/articles/canada-needs-airline-industry-is-monitoring-day-by-day-minister-2020-05-29 | nan | nan | By Steve Scherer
OTTAWA, May 29 (Reuters) - Canada is closely monitoring the slumping airline industry and extended a ban on large cruise ships to Oct. 31 to help prevent the spread of the coronavirus, Transport Minister Marc Garneau said on Friday.
"We are monitoring the situation from day to day... I have a responsibility to make sure that when this pandemic is over, we still have an airline industry," Garneau told reporters when asked if the federal government would step in to help Air Canada AC.TO through the COVID-19 downturn.
Due to Canada's size and geography, "We expect and need an airline industry in this country," he said.
Before considering any sector-specific aid, the government is waiting to see if the industry takes advantage of its emergency loan program for large companies, Garneau added.
Canada's April gross domestic product plunged a record 11% from March as businesses shut down to fight the coronavirus, data showed on Friday, and analysts said it was unclear how quickly the economy would recover.
"COVID-19 is still a very serious threat, but with the right plan and the right investments we will weather this storm together," Prime Minister Justin Trudeau said in his daily news conference.
On Friday, the public health agency said coronavirus deaths rose to 6,918, an increase of less than 2% from the previous day.
Cruise ships with overnight capacity for more than 100 crew and passengers will not be allowed to operate in Canadian waters at least until November, the minister said. The ban on large cruise ships, many of which were hit by COVID-19 outbreaks, began in March.
As of July 1, it will be up to local, provincial or territorial authorities to set timelines and procedures for all other passenger vessels.
Separately on Friday, the government announced additional funding to help indigenous communities get through the coronavirus outbreak.
(Reporting by Steve Scherer; Editing by Dan Grebler and Alistair Bell)
((steve.scherer@thomsonreuters.com; +1-613-235-6745;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | I have a responsibility to make sure that when this pandemic is over, we still have an airline industry," Garneau told reporters when asked if the federal government would step in to help Air Canada AC.TO through the COVID-19 downturn. Cruise ships with overnight capacity for more than 100 crew and passengers will not be allowed to operate in Canadian waters at least until November, the minister said. By Steve Scherer OTTAWA, May 29 (Reuters) - Canada is closely monitoring the slumping airline industry and extended a ban on large cruise ships to Oct. 31 to help prevent the spread of the coronavirus, Transport Minister Marc Garneau said on Friday. | I have a responsibility to make sure that when this pandemic is over, we still have an airline industry," Garneau told reporters when asked if the federal government would step in to help Air Canada AC.TO through the COVID-19 downturn. Cruise ships with overnight capacity for more than 100 crew and passengers will not be allowed to operate in Canadian waters at least until November, the minister said. By Steve Scherer OTTAWA, May 29 (Reuters) - Canada is closely monitoring the slumping airline industry and extended a ban on large cruise ships to Oct. 31 to help prevent the spread of the coronavirus, Transport Minister Marc Garneau said on Friday. | I have a responsibility to make sure that when this pandemic is over, we still have an airline industry," Garneau told reporters when asked if the federal government would step in to help Air Canada AC.TO through the COVID-19 downturn. Cruise ships with overnight capacity for more than 100 crew and passengers will not be allowed to operate in Canadian waters at least until November, the minister said. By Steve Scherer OTTAWA, May 29 (Reuters) - Canada is closely monitoring the slumping airline industry and extended a ban on large cruise ships to Oct. 31 to help prevent the spread of the coronavirus, Transport Minister Marc Garneau said on Friday. | I have a responsibility to make sure that when this pandemic is over, we still have an airline industry," Garneau told reporters when asked if the federal government would step in to help Air Canada AC.TO through the COVID-19 downturn. Cruise ships with overnight capacity for more than 100 crew and passengers will not be allowed to operate in Canadian waters at least until November, the minister said. By Steve Scherer OTTAWA, May 29 (Reuters) - Canada is closely monitoring the slumping airline industry and extended a ban on large cruise ships to Oct. 31 to help prevent the spread of the coronavirus, Transport Minister Marc Garneau said on Friday. |
35170.0 | 2020-05-27 00:00:00 UTC | TSX rises 0.82% to 15,272.03 | AC | https://www.nasdaq.com/articles/tsx-rises-0.82-to-15272.03-2020-05-27 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.82 percent to 15,272.03
* Leading the index were Home Capital Group Inc , up 10.7%, CAE Inc CAE.TO, up 8.3%, and Equitable Group Inc EQB.TO, higher by 8.3%.
* Lagging shares were Real Matters Inc REAL.TO, down 8.4%, Air Canada AC.TO, down 7.0%, and Sienna Senior Living Inc SIA.TO, lower by 5.0%.
* On the TSX 136 issues rose and 90 fell as a 1.5-to-1 ratio favored advancers. There were no and no new lows, with total volume of 349.5 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, Hexo Corp HEXO.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN rose 0.54 points, or 0.7%, while the financials sector .SPTTFS climbed 8.09 points, or 3.2%.
* West Texas Intermediate crude futures CLc1 fell 6.2%, or $2.13, to $32.22 a barrel. Brent crude LCOc1 fell 5.34%, or $1.93, to $34.24 O/R
* The TSX is off 10.5% 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 Real Matters Inc REAL.TO, down 8.4%, Air Canada AC.TO, down 7.0%, and Sienna Senior Living Inc SIA.TO, lower by 5.0%. * The most heavily traded shares by volume were Air Canada AC.TO, Hexo Corp HEXO.TO and Suncor Energy Inc SU.TO. * On the TSX 136 issues rose and 90 fell as a 1.5-to-1 ratio favored advancers. | * Lagging shares were Real Matters Inc REAL.TO, down 8.4%, Air Canada AC.TO, down 7.0%, and Sienna Senior Living Inc SIA.TO, lower by 5.0%. * The most heavily traded shares by volume were Air Canada AC.TO, Hexo Corp HEXO.TO and Suncor Energy Inc SU.TO. * The TSX's energy group .SPTTEN rose 0.54 points, or 0.7%, while the financials sector .SPTTFS climbed 8.09 points, or 3.2%. | * The most heavily traded shares by volume were Air Canada AC.TO, Hexo Corp HEXO.TO and Suncor Energy Inc SU.TO. * Lagging shares were Real Matters Inc REAL.TO, down 8.4%, Air Canada AC.TO, down 7.0%, and Sienna Senior Living Inc SIA.TO, lower by 5.0%. * The Toronto Stock Exchange's TSX rises 0.82 percent to 15,272.03 * Leading the index were Home Capital Group Inc , up 10.7%, CAE Inc CAE.TO, up 8.3%, and Equitable Group Inc EQB.TO, higher by 8.3%. | * The most heavily traded shares by volume were Air Canada AC.TO, Hexo Corp HEXO.TO and Suncor Energy Inc SU.TO. * Lagging shares were Real Matters Inc REAL.TO, down 8.4%, Air Canada AC.TO, down 7.0%, and Sienna Senior Living Inc SIA.TO, lower by 5.0%. * The TSX's energy group .SPTTEN rose 0.54 points, or 0.7%, while the financials sector .SPTTFS climbed 8.09 points, or 3.2%. |
35171.0 | 2020-05-27 00:00:00 UTC | TSX gains on stimulus hopes | AC | https://www.nasdaq.com/articles/tsx-gains-on-stimulus-hopes-2020-05-27 | nan | nan | May 27 (Reuters) - Canada's main stock index opened higher on Wednesday after Bank of Canada Governor Stephen Poloz lifted expectations for further monetary support to help tide the economy through the coronavirus crisis.
Since the outbreak, the central bank has cut its primary interest rate three times to a record low of 0.25% and launched its first-ever large-scale bond buying program to ease tension in the financial market.
* At 9:42 a.m. ET (1340 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 13.55 points, or 0.09%, at 15,161.67.
* The energy sector .SPTTEN climbed 0.1% despite U.S. crude CLc1 prices falling 2.5% a barrel and Brent crude LCOc1 dropping 2.4%. O/R
* The financials sector .SPTTFS gained 2.3% and the industrials sector .GSPTTIN fell 0.3%.
* The value of Canadian building permits dropped by 17.1% in April, the largest decline since October 2008, Statistics Canada said on Wednesday, as the pandemic forced officials to shut down non-essential construction.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 2.1%.
* On the TSX, 83 issues were higher, while 145 issues declined for a 1.75-to-1 ratio to the downside, with 69.97 million shares traded.
* The largest percentage gainer on the TSX was the sport apparel maker BRP Inc , which gained 5.1%, followed by MTY Food Group Inc that rose 4.9%.
* E-commerce company Shopify Inc fell 5.9%, the most on the TSX.
* The second-biggest decliner was Air Canada , down 5.9%, after the airlines company announced share offerings of more than $1 billion to boost cash position amid the coronavirus crisis.
* The most heavily traded shares by volume were Green Organic Dutchman Holdings Ltd , Air Canada and Hexo Corp .
* The TSX posted no new 52-week highs and no new lows.
* Across all Canadian issues, there were four new 52-week highs and one new low, with total volume of 43.69 million shares.
(Reporting by Amal S in Bengaluru; Editing by Maju Samuel)
((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. | * Across all Canadian issues, there were four new 52-week highs and one new low, with total volume of 43.69 million shares. Since the outbreak, the central bank has cut its primary interest rate three times to a record low of 0.25% and launched its first-ever large-scale bond buying program to ease tension in the financial market. * The value of Canadian building permits dropped by 17.1% in April, the largest decline since October 2008, Statistics Canada said on Wednesday, as the pandemic forced officials to shut down non-essential construction. | * Across all Canadian issues, there were four new 52-week highs and one new low, with total volume of 43.69 million shares. May 27 (Reuters) - Canada's main stock index opened higher on Wednesday after Bank of Canada Governor Stephen Poloz lifted expectations for further monetary support to help tide the economy through the coronavirus crisis. O/R * The financials sector .SPTTFS gained 2.3% and the industrials sector .GSPTTIN fell 0.3%. | * Across all Canadian issues, there were four new 52-week highs and one new low, with total volume of 43.69 million shares. May 27 (Reuters) - Canada's main stock index opened higher on Wednesday after Bank of Canada Governor Stephen Poloz lifted expectations for further monetary support to help tide the economy through the coronavirus crisis. * On the TSX, 83 issues were higher, while 145 issues declined for a 1.75-to-1 ratio to the downside, with 69.97 million shares traded. | * Across all Canadian issues, there were four new 52-week highs and one new low, with total volume of 43.69 million shares. May 27 (Reuters) - Canada's main stock index opened higher on Wednesday after Bank of Canada Governor Stephen Poloz lifted expectations for further monetary support to help tide the economy through the coronavirus crisis. O/R * The financials sector .SPTTFS gained 2.3% and the industrials sector .GSPTTIN fell 0.3%. |
35172.0 | 2020-05-25 00:00:00 UTC | Canada's TSX gains more than 1% as financial shares climb | AC | https://www.nasdaq.com/articles/canadas-tsx-gains-more-than-1-as-financial-shares-climb-2020-05-25 | nan | nan | New throughout; updates prices
TORONTO, May 25 (Reuters) - Canada's main stock index rose on Monday, helped by gains for financial shares, as investors welcomed a stronger-than-expected rebound in German business morale.
* The recovery in Germany's Ifo institute survey for May offered a glimpse of optimism to battered investors of what lay beyond weeks of economic lockdowns.
* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed up 161.78 points, or 1.1%, at 15,075.42. The index has rallied about 35% since hitting an eight-year low in March.
* The heavyweight financials group .SPTTFS rose 1.7%, gaining ground ahead of earnings reports over the coming days from Canada's major banks.
* The healthcare sector .GSPTTHC, which includes cannabis stocks, rose 4.9%, while information technology .SPTTTK was up 2.1%.
* Shares of Transat AT Inc TRZ.TO fell 7% as EU antitrust regulators opened a full-scale investigation into Air Canada's AC.TO bid for the Canadian tour operator.
* Financial markets in the United States were closed for the Memorial Day public holiday.
(Reporting by Fergal Smith; editing by Grant McCool)
((fergal.smith@thomsonreuters.com; +1 416 941 8113;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Shares of Transat AT Inc TRZ.TO fell 7% as EU antitrust regulators opened a full-scale investigation into Air Canada's AC.TO bid for the Canadian tour operator. New throughout; updates prices TORONTO, May 25 (Reuters) - Canada's main stock index rose on Monday, helped by gains for financial shares, as investors welcomed a stronger-than-expected rebound in German business morale. * The heavyweight financials group .SPTTFS rose 1.7%, gaining ground ahead of earnings reports over the coming days from Canada's major banks. | * Shares of Transat AT Inc TRZ.TO fell 7% as EU antitrust regulators opened a full-scale investigation into Air Canada's AC.TO bid for the Canadian tour operator. New throughout; updates prices TORONTO, May 25 (Reuters) - Canada's main stock index rose on Monday, helped by gains for financial shares, as investors welcomed a stronger-than-expected rebound in German business morale. * The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed up 161.78 points, or 1.1%, at 15,075.42. | * Shares of Transat AT Inc TRZ.TO fell 7% as EU antitrust regulators opened a full-scale investigation into Air Canada's AC.TO bid for the Canadian tour operator. New throughout; updates prices TORONTO, May 25 (Reuters) - Canada's main stock index rose on Monday, helped by gains for financial shares, as investors welcomed a stronger-than-expected rebound in German business morale. * The heavyweight financials group .SPTTFS rose 1.7%, gaining ground ahead of earnings reports over the coming days from Canada's major banks. | * Shares of Transat AT Inc TRZ.TO fell 7% as EU antitrust regulators opened a full-scale investigation into Air Canada's AC.TO bid for the Canadian tour operator. New throughout; updates prices TORONTO, May 25 (Reuters) - Canada's main stock index rose on Monday, helped by gains for financial shares, as investors welcomed a stronger-than-expected rebound in German business morale. * The recovery in Germany's Ifo institute survey for May offered a glimpse of optimism to battered investors of what lay beyond weeks of economic lockdowns. |
35173.0 | 2020-05-25 00:00:00 UTC | Air Canada, Transat deal faces intense EU antitrust scrutiny | AC | https://www.nasdaq.com/articles/air-canada-transat-deal-faces-intense-eu-antitrust-scrutiny-2020-05-25 | nan | nan | By Foo Yun Chee
BRUSSELS, May 25 (Reuters) - Air Canada's AC.TO bid for Canadian tour operator Transat AT Inc may result in higher prices and less choice for flights between Europe and Canada, EU antitrust regulators said on Monday as they opened a full-scale investigation into the deal.
Montreal-based Air Canada is hoping Transat TRZ.TO will boost its leisure travel business and help it better compete with rival WestJet Airlines WJA.TO.
The European Commission said the deal could significantly reduce competition on 33 routes between Europe and Canada, with both historical rivals.
The EU antitrust enforcer said other European airlines were just distant competitors and that WestJet was not a sufficiently strong rival.
"This is a challenging time, especially in markets severely impacted by the coronavirus outbreak, but a return to normal and healthy market conditions must be based on markets that remain competitive," European Competition Commissioner Margrethe Vestager said in a statement.
The companies had declined to offer concessions to address its concerns during the EU's preliminary review of the deal. Regulators set a Sept. 30 deadline for their decision. The Canadian Competition Bureau in March also voiced concerns.
(Reporting by Foo Yun Chee; editing by Phil Blenkinsop and Emelia Sithole-Matarise)
((foo.yunchee@thomsonreuters.com; +32 2 585 2844; 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. | By Foo Yun Chee BRUSSELS, May 25 (Reuters) - Air Canada's AC.TO bid for Canadian tour operator Transat AT Inc may result in higher prices and less choice for flights between Europe and Canada, EU antitrust regulators said on Monday as they opened a full-scale investigation into the deal. "This is a challenging time, especially in markets severely impacted by the coronavirus outbreak, but a return to normal and healthy market conditions must be based on markets that remain competitive," European Competition Commissioner Margrethe Vestager said in a statement. Montreal-based Air Canada is hoping Transat TRZ.TO will boost its leisure travel business and help it better compete with rival WestJet Airlines WJA.TO. | By Foo Yun Chee BRUSSELS, May 25 (Reuters) - Air Canada's AC.TO bid for Canadian tour operator Transat AT Inc may result in higher prices and less choice for flights between Europe and Canada, EU antitrust regulators said on Monday as they opened a full-scale investigation into the deal. "This is a challenging time, especially in markets severely impacted by the coronavirus outbreak, but a return to normal and healthy market conditions must be based on markets that remain competitive," European Competition Commissioner Margrethe Vestager said in a statement. Montreal-based Air Canada is hoping Transat TRZ.TO will boost its leisure travel business and help it better compete with rival WestJet Airlines WJA.TO. | By Foo Yun Chee BRUSSELS, May 25 (Reuters) - Air Canada's AC.TO bid for Canadian tour operator Transat AT Inc may result in higher prices and less choice for flights between Europe and Canada, EU antitrust regulators said on Monday as they opened a full-scale investigation into the deal. "This is a challenging time, especially in markets severely impacted by the coronavirus outbreak, but a return to normal and healthy market conditions must be based on markets that remain competitive," European Competition Commissioner Margrethe Vestager said in a statement. The European Commission said the deal could significantly reduce competition on 33 routes between Europe and Canada, with both historical rivals. | By Foo Yun Chee BRUSSELS, May 25 (Reuters) - Air Canada's AC.TO bid for Canadian tour operator Transat AT Inc may result in higher prices and less choice for flights between Europe and Canada, EU antitrust regulators said on Monday as they opened a full-scale investigation into the deal. "This is a challenging time, especially in markets severely impacted by the coronavirus outbreak, but a return to normal and healthy market conditions must be based on markets that remain competitive," European Competition Commissioner Margrethe Vestager said in a statement. Montreal-based Air Canada is hoping Transat TRZ.TO will boost its leisure travel business and help it better compete with rival WestJet Airlines WJA.TO. |
35174.0 | 2020-05-25 00:00:00 UTC | EU antitrust regulators to investigate Air Canada, Transat deal | AC | https://www.nasdaq.com/articles/eu-antitrust-regulators-to-investigate-air-canada-transat-deal-2020-05-25 | nan | nan | BRUSSELS, May 25 (Reuters) - EU antitrust regulators opened on Monday a full-scale investigation into Air Canada's AC.TO bid for Canadian tour operator Transat AT Inc TRZ.TO, saying that the deal may reduce competition on flights between Europe and Canada.
The European Commission said the companies had declined to offer concessions to address its concerns during its preliminary review of the deal. It set a Sept. 30 deadline for its decision.
Montreal-based Air Canada is hoping Transat will boost its leisure travel business and help it better compete with rival WestJet Airlines WJA.TO under a new owner.
(Reporting by Foo Yun Chee; editing by Phil Blenkinsop)
((foo.yunchee@thomsonreuters.com; +32 2 585 2844; 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, May 25 (Reuters) - EU antitrust regulators opened on Monday a full-scale investigation into Air Canada's AC.TO bid for Canadian tour operator Transat AT Inc TRZ.TO, saying that the deal may reduce competition on flights between Europe and Canada. The European Commission said the companies had declined to offer concessions to address its concerns during its preliminary review of the deal. Montreal-based Air Canada is hoping Transat will boost its leisure travel business and help it better compete with rival WestJet Airlines WJA.TO under a new owner. | BRUSSELS, May 25 (Reuters) - EU antitrust regulators opened on Monday a full-scale investigation into Air Canada's AC.TO bid for Canadian tour operator Transat AT Inc TRZ.TO, saying that the deal may reduce competition on flights between Europe and Canada. Montreal-based Air Canada is hoping Transat will boost its leisure travel business and help it better compete with rival WestJet Airlines WJA.TO under a new owner. (Reporting by Foo Yun Chee; editing by Phil Blenkinsop) ((foo.yunchee@thomsonreuters.com; +32 2 585 2844; 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, May 25 (Reuters) - EU antitrust regulators opened on Monday a full-scale investigation into Air Canada's AC.TO bid for Canadian tour operator Transat AT Inc TRZ.TO, saying that the deal may reduce competition on flights between Europe and Canada. It set a Sept. 30 deadline for its decision. (Reporting by Foo Yun Chee; editing by Phil Blenkinsop) ((foo.yunchee@thomsonreuters.com; +32 2 585 2844; 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, May 25 (Reuters) - EU antitrust regulators opened on Monday a full-scale investigation into Air Canada's AC.TO bid for Canadian tour operator Transat AT Inc TRZ.TO, saying that the deal may reduce competition on flights between Europe and Canada. The European Commission said the companies had declined to offer concessions to address its concerns during its preliminary review of the deal. It set a Sept. 30 deadline for its decision. |
35175.0 | 2020-05-20 00:00:00 UTC | Canada's emergency loans for big companies have no cap but many limits | AC | https://www.nasdaq.com/articles/canadas-emergency-loans-for-big-companies-have-no-cap-but-many-limits-2020-05-20 | nan | nan | By Steve Scherer
OTTAWA, May 20 (Reuters) - There will be no cap on the size of Canada's emergency loans to large companies harmed by the coronavirus pandemic but there will be multiple restrictions, including one that gives taxpayers a chance to share in the upside of the borrower's potential recovery, the government said on Wednesday.
"We are not offering companies a bailout," Prime Minister Justin Trudeau told his daily news conference.
The aim is to help them "weather this storm" and preserve Canadian jobs as a "lender of last resort," Trudeau said.
The so-called Large Employer Emergency Financing Facility (LEEFF) launched last week is accepting applications as of Wednesday from all companies, except those in finance, with an annual revenue of C$300 million ($216 million) or more that are seeking financing of at least C$60 million.
"We'll be asking publicly traded companies to issue warrants that provide the option to purchase equity or receive cash equivalents totaling 15% of the amount received," Finance Minister Bill Morneau told reporters, so the state can "share in any upside borrowers see in the recovery to come."
Restrictions aimed at slowing the pandemic have clobbered companies in Canada and worldwide. Morneau said last week that airlines, energy companies and large retailers were the types of companies that may need the loans.
Air Canada AC.TO said last week it was cutting its workforce by up to 60%. Canada's oil industry is facing its worst crisis in 40 years.
Among the loan requirements are that companies have "environmental sustainability" among their goals. There will be restrictions on dividends, share buybacks, executive pay and tax transparency, Trudeau added.
Also on Wednesday, the government said it would provide forgivable loans to qualifying commercial property owners to cover half of monthly rent payments from small business tenants struggling in April, May and June.
($1 = 1.3879 Canadian dollars)
Govt to be lender of last resort for big Canadian firms like airlines, oil producers
(Reporting by Steve Scherer; Editing by Will Dunham)
((steve.scherer@thomsonreuters.com; +1-613-235-6745;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The so-called Large Employer Emergency Financing Facility (LEEFF) launched last week is accepting applications as of Wednesday from all companies, except those in finance, with an annual revenue of C$300 million ($216 million) or more that are seeking financing of at least C$60 million. Air Canada AC.TO said last week it was cutting its workforce by up to 60%. Canada's oil industry is facing its worst crisis in 40 years. | The so-called Large Employer Emergency Financing Facility (LEEFF) launched last week is accepting applications as of Wednesday from all companies, except those in finance, with an annual revenue of C$300 million ($216 million) or more that are seeking financing of at least C$60 million. Air Canada AC.TO said last week it was cutting its workforce by up to 60%. Canada's oil industry is facing its worst crisis in 40 years. | The so-called Large Employer Emergency Financing Facility (LEEFF) launched last week is accepting applications as of Wednesday from all companies, except those in finance, with an annual revenue of C$300 million ($216 million) or more that are seeking financing of at least C$60 million. Air Canada AC.TO said last week it was cutting its workforce by up to 60%. Canada's oil industry is facing its worst crisis in 40 years. | The so-called Large Employer Emergency Financing Facility (LEEFF) launched last week is accepting applications as of Wednesday from all companies, except those in finance, with an annual revenue of C$300 million ($216 million) or more that are seeking financing of at least C$60 million. Air Canada AC.TO said last week it was cutting its workforce by up to 60%. Canada's oil industry is facing its worst crisis in 40 years. |
35176.0 | 2020-05-19 00:00:00 UTC | S&P 500 flat after mixed retail earnings | AC | https://www.nasdaq.com/articles/sp-500-flat-after-mixed-retail-earnings-2020-05-19 | nan | nan | For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in a news window
Walmart rises on strong Q1 results
Advance Auto Parts gains on same-store sales potential
Home Depot drops after results miss estimates
U.S. housing starts post record decline
Indexes mixed: Dow up 0.25%, S&P flat, Nasdaq up 0.55%
Updates to early afternoon
By Medha Singh and Ambar Warrick
May 19 (Reuters) - The S&P 500 was largely unchanged on Tuesday, after a strong rally in the prior session, as investors sifted through a mixed batch of results from major retailers including Walmart and Home Depot.
Home improvement chain Home Depot HD.N fell 2.4% as it missed quarterly profit estimates due to higher costs, while department store operator Kohl's Corp KSS.N slumped 7.8% after reporting a bigger-than-expected loss.
Walmart Inc WMT.N, on the other hand, rose 0.8% after the world's largest grocer exceeded expectations for quarterly revenue and earnings as online sales soared due to stockpiling of essentials during the coronavirus-led lockdown.
The S&P 500 retailing index .SPXRT was up 0.7%.
Trillions of dollars in stimulus has helped the S&P 500 rebound more than 34% from its March lows. Although it is now just about 13% below its record high, the pace of the rally has slowed in May owing to uncertainty over the outbreak and rising U.S.-China tensions.
"Volatility is going to be with us for some time. There's a leveling off process where people accept the new normal, or they just abandon hope," said George Young, portfolio manager of the Villere Balanced Fund in New Orleans, Louisiana.
The benchmark index climbed more than 3% on Monday, boosted by promising early stage data for a potential COVID-19 vaccine and Federal Reserve Chair Jerome Powell's pledge to support the economy as needed until the current crisis has passed.
Powell, in his testimony to the Senate Banking Committee on Tuesday, said the central bank was continuing to consider ways to accommodate additional borrowers, and that Congress should consider anything to keep people out of insolvency.
"By far the biggest focus for markets are variables attached to medical news, (followed by) actions from central banks and fiscal policymakers," said Tim Shaler, chief economist for iTrustCapital in Newport Beach, California.
At 12:26 p.m. ET, the Dow Jones Industrial Average .DJI was down 60.41 points, or 0.25%, at 24,536.96, the S&P 500 .SPX was up 1.69 points, or 0.06%, at 2,955.60. The Nasdaq Composite .IXIC was up 50.49 points, or 0.55%, at 9,285.32.
Gains in technology focused companies, including Amazon.com AMZN.O, Apple Inc AAPL.O and Intel Corp INTC.O, were some of the biggest boosts to the S&P 500 and the Nasdaq.
Seven of the 11 major S&P sectors were trading lower, led by real estate .SPLRCR and energy stocks .SPNY. Technology .SPLRCT and consumer discretionary .SPLRCD posted the biggest percentage gains.
Advance Auto Parts AAP.N climbed 5.8% after the company said same-store sales improved significantly at the start of the second quarter.
The S&P 1500 airlines index .SPCOMAIR advanced 2.5% as two top U.S. airlines and Air Canada AC.TO said ticket cancellations were slowing and demand was showing signs of improvement since the coronavirus pandemic brought global travel to a virtual standstill last month.
Advancing issues outnumbered decliners by a 1.23-to-1 ratio on the NYSE and by a 1.05-to-1 ratio on the Nasdaq.
The S&P index recorded 10 new 52-week highs and no new lows, while the Nasdaq recorded 50 new highs and six new lows.
(Reporting by Medha Singh and Ambar Warrick in Bengaluru; Editing by Patrick Graham, Arun Koyyur and Sriraj Kalluvila)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; Twitter: https://twitter.com/medhasinghs))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The benchmark index climbed more than 3% on Monday, boosted by promising early stage data for a potential COVID-19 vaccine and Federal Reserve Chair Jerome Powell's pledge to support the economy as needed until the current crisis has passed. "By far the biggest focus for markets are variables attached to medical news, (followed by) actions from central banks and fiscal policymakers," said Tim Shaler, chief economist for iTrustCapital in Newport Beach, California. Although it is now just about 13% below its record high, the pace of the rally has slowed in May owing to uncertainty over the outbreak and rising U.S.-China tensions. | Although it is now just about 13% below its record high, the pace of the rally has slowed in May owing to uncertainty over the outbreak and rising U.S.-China tensions. There's a leveling off process where people accept the new normal, or they just abandon hope," said George Young, portfolio manager of the Villere Balanced Fund in New Orleans, Louisiana. The benchmark index climbed more than 3% on Monday, boosted by promising early stage data for a potential COVID-19 vaccine and Federal Reserve Chair Jerome Powell's pledge to support the economy as needed until the current crisis has passed. | Although it is now just about 13% below its record high, the pace of the rally has slowed in May owing to uncertainty over the outbreak and rising U.S.-China tensions. There's a leveling off process where people accept the new normal, or they just abandon hope," said George Young, portfolio manager of the Villere Balanced Fund in New Orleans, Louisiana. The benchmark index climbed more than 3% on Monday, boosted by promising early stage data for a potential COVID-19 vaccine and Federal Reserve Chair Jerome Powell's pledge to support the economy as needed until the current crisis has passed. | "By far the biggest focus for markets are variables attached to medical news, (followed by) actions from central banks and fiscal policymakers," said Tim Shaler, chief economist for iTrustCapital in Newport Beach, California. Although it is now just about 13% below its record high, the pace of the rally has slowed in May owing to uncertainty over the outbreak and rising U.S.-China tensions. There's a leveling off process where people accept the new normal, or they just abandon hope," said George Young, portfolio manager of the Villere Balanced Fund in New Orleans, Louisiana. |
35177.0 | 2020-05-19 00:00:00 UTC | TSX lifted by energy stocks, COVID-19 vaccine hopes | AC | https://www.nasdaq.com/articles/tsx-lifted-by-energy-stocks-covid-19-vaccine-hopes-2020-05-19 | nan | nan | May 19 (Reuters) - Canada's main stock index hit a one-week high on Tuesday after an extended weekend, as rising oil prices lifted the energy sector, while positive results from an early stage trial of a COVID-19 vaccine added to optimism.
* A gradual reopening of select retailers and auto dealerships in Ontario after two months of lockdown also boosted investor sentiment, with industry groups bracing for a slow return to normal business activity.
* At 9:42 a.m. ET (1342 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 248.05 points, or 1.69%, at 14,886.95.
* The energy sector .SPTTEN climbed 6.3% as U.S. crude CLc1 prices were up 4.2% a barrel, while Brent crude LCOc1 added 0.6%. O/R
* The industrials sector .GSPTTIN rose 2.4% with airline carrier Air Canada AC.TO jumping over 10% after the company said it is seeing an improvement in demand for air travel and fewer cancellations.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 0.1%.
* On the TSX, 199 issues gained, while 29 issues declined for a 6.86-to-1 ratio favoring gainers, with 43.22 million shares traded.
* The largest percentage gainer on the TSX was Aurora Cannabis Inc , which jumped 55.6% adding to the stock's Friday gains as the pot company posted better-than-expected quarterly revenue.
* Chorus Aviation Inc CHR.TO followed Aurora, rising 13.8% after brokerage Scotiabank raised its price target on the stock.
* Mining company Silvercorp Metals Inc fell 4.9%, the most on the TSX, followed by Shopify Inc , which lost 3.9%.
* The most heavily traded shares by volume were Zenabis Global Inc , Guyana Goldfields Inc and Cenovus Energy Inc .
* The TSX posted nine new 52-week highs and no new low.
* Across all Canadian issues there were 31 new 52-week highs and four new lows, with total volume of 85.80 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. | May 19 (Reuters) - Canada's main stock index hit a one-week high on Tuesday after an extended weekend, as rising oil prices lifted the energy sector, while positive results from an early stage trial of a COVID-19 vaccine added to optimism. * A gradual reopening of select retailers and auto dealerships in Ontario after two months of lockdown also boosted investor sentiment, with industry groups bracing for a slow return to normal business activity. O/R * The industrials sector .GSPTTIN rose 2.4% with airline carrier Air Canada AC.TO jumping over 10% after the company said it is seeing an improvement in demand for air travel and fewer cancellations. | May 19 (Reuters) - Canada's main stock index hit a one-week high on Tuesday after an extended weekend, as rising oil prices lifted the energy sector, while positive results from an early stage trial of a COVID-19 vaccine added to optimism. * A gradual reopening of select retailers and auto dealerships in Ontario after two months of lockdown also boosted investor sentiment, with industry groups bracing for a slow return to normal business activity. O/R * The industrials sector .GSPTTIN rose 2.4% with airline carrier Air Canada AC.TO jumping over 10% after the company said it is seeing an improvement in demand for air travel and fewer cancellations. | May 19 (Reuters) - Canada's main stock index hit a one-week high on Tuesday after an extended weekend, as rising oil prices lifted the energy sector, while positive results from an early stage trial of a COVID-19 vaccine added to optimism. * A gradual reopening of select retailers and auto dealerships in Ontario after two months of lockdown also boosted investor sentiment, with industry groups bracing for a slow return to normal business activity. O/R * The industrials sector .GSPTTIN rose 2.4% with airline carrier Air Canada AC.TO jumping over 10% after the company said it is seeing an improvement in demand for air travel and fewer cancellations. | May 19 (Reuters) - Canada's main stock index hit a one-week high on Tuesday after an extended weekend, as rising oil prices lifted the energy sector, while positive results from an early stage trial of a COVID-19 vaccine added to optimism. * Across all Canadian issues there were 31 new 52-week highs and four new lows, with total volume of 85.80 million shares. * A gradual reopening of select retailers and auto dealerships in Ontario after two months of lockdown also boosted investor sentiment, with industry groups bracing for a slow return to normal business activity. |
35178.0 | 2020-05-19 00:00:00 UTC | North American airlines say ticket cancellations slowing, demand improving | AC | https://www.nasdaq.com/articles/north-american-airlines-say-ticket-cancellations-slowing-demand-improving-2020-05-19 | nan | nan | By Tracy Rucinski and Ankit Ajmera
May 19 (Reuters) - Two top U.S. airlines and Air CanadaAC.TO said on Tuesday ticket cancellations were slowing and demand was showing signs of improvement since the coronavirus pandemic brought global travel to a virtual standstill last month.
Shares in Southwest Airlines Co LUV.N and United Airlines Holdings Inc UAL.O rose on the news.
Southwest, focused on the U.S. domestic market, said it was adding some flights in June, which will bring that month's overall annual capacity decline to between 45% and 55%, less severe than May's decline of 60% to 70% in May.
Chicago-based United, which has greater international exposure, said its June capacity would still be down by about 90% year-on-year, and 75% in July. Overseas travel is expected to be slower to recover.
"We might have hit the bottom in the short-term. But is it getting better soon? Until immunization, travel trends are not going back to normal anytime soon," said Burton Hollifield, professor of financial economics at Carnegie Mellon University's Tepper School of Business.
All airlines remain focused on reducing costs.
Southwest said its daily cash burn rate was slowing to the low-$20 million range in June from $30 million to $35 million in the overall second quarter.
Speaking at an industry conference, Air Canada CFO Mike Rousseau said he could not predict when his airline's cash burn would go to zero, noting it will depend on revenue performance in the coming months.
United said its total adjusted capital expenditure for 2021 would be close to $2 billion versus around $4.5 billion this year, falling to below $500 million in 2022 when it does not expect to take delivery of any new aircraft. It is taking fully financed jet deliveries this year and next.
(Reporting by Tracy Rucinski and Ankit Ajmera; Additional reporting by Rachit Vats; Editing by Bernadette Baum and David Gregorio)
((tracy.rucinski@thomsonreuters.com; 1-312-408-8575; Reuters Messaging: tracy.rucinski.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. | By Tracy Rucinski and Ankit Ajmera May 19 (Reuters) - Two top U.S. airlines and Air CanadaAC.TO said on Tuesday ticket cancellations were slowing and demand was showing signs of improvement since the coronavirus pandemic brought global travel to a virtual standstill last month. Until immunization, travel trends are not going back to normal anytime soon," said Burton Hollifield, professor of financial economics at Carnegie Mellon University's Tepper School of Business. Southwest, focused on the U.S. domestic market, said it was adding some flights in June, which will bring that month's overall annual capacity decline to between 45% and 55%, less severe than May's decline of 60% to 70% in May. | By Tracy Rucinski and Ankit Ajmera May 19 (Reuters) - Two top U.S. airlines and Air CanadaAC.TO said on Tuesday ticket cancellations were slowing and demand was showing signs of improvement since the coronavirus pandemic brought global travel to a virtual standstill last month. (Reporting by Tracy Rucinski and Ankit Ajmera; Additional reporting by Rachit Vats; Editing by Bernadette Baum and David Gregorio) ((tracy.rucinski@thomsonreuters.com; 1-312-408-8575; Reuters Messaging: tracy.rucinski.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. Southwest, focused on the U.S. domestic market, said it was adding some flights in June, which will bring that month's overall annual capacity decline to between 45% and 55%, less severe than May's decline of 60% to 70% in May. | By Tracy Rucinski and Ankit Ajmera May 19 (Reuters) - Two top U.S. airlines and Air CanadaAC.TO said on Tuesday ticket cancellations were slowing and demand was showing signs of improvement since the coronavirus pandemic brought global travel to a virtual standstill last month. Southwest, focused on the U.S. domestic market, said it was adding some flights in June, which will bring that month's overall annual capacity decline to between 45% and 55%, less severe than May's decline of 60% to 70% in May. Chicago-based United, which has greater international exposure, said its June capacity would still be down by about 90% year-on-year, and 75% in July. | By Tracy Rucinski and Ankit Ajmera May 19 (Reuters) - Two top U.S. airlines and Air CanadaAC.TO said on Tuesday ticket cancellations were slowing and demand was showing signs of improvement since the coronavirus pandemic brought global travel to a virtual standstill last month. Southwest, focused on the U.S. domestic market, said it was adding some flights in June, which will bring that month's overall annual capacity decline to between 45% and 55%, less severe than May's decline of 60% to 70% in May. Chicago-based United, which has greater international exposure, said its June capacity would still be down by about 90% year-on-year, and 75% in July. |
35179.0 | 2020-05-19 00:00:00 UTC | Air Canada seeing improvement in demand for air travel | AC | https://www.nasdaq.com/articles/air-canada-seeing-improvement-in-demand-for-air-travel-2020-05-19 | nan | nan | May 19 (Reuters) - Air Canada AC.TO is seeing an improvement in demand for air travel and fewer cancellations, Chief Financial Officer Michael Rousseau said at an online conference hosted by Wolfe Research.
Rousseau said he expects domestic leisure and business travel to pick up in summer and in fall, respectively.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Vinay Dwivedi)
((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 19 (Reuters) - Air Canada AC.TO is seeing an improvement in demand for air travel and fewer cancellations, Chief Financial Officer Michael Rousseau said at an online conference hosted by Wolfe Research. Rousseau said he expects domestic leisure and business travel to pick up in summer and in fall, respectively. (Reporting by Ankit Ajmera in Bengaluru; Editing by Vinay Dwivedi) ((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 19 (Reuters) - Air Canada AC.TO is seeing an improvement in demand for air travel and fewer cancellations, Chief Financial Officer Michael Rousseau said at an online conference hosted by Wolfe Research. Rousseau said he expects domestic leisure and business travel to pick up in summer and in fall, respectively. (Reporting by Ankit Ajmera in Bengaluru; Editing by Vinay Dwivedi) ((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 19 (Reuters) - Air Canada AC.TO is seeing an improvement in demand for air travel and fewer cancellations, Chief Financial Officer Michael Rousseau said at an online conference hosted by Wolfe Research. Rousseau said he expects domestic leisure and business travel to pick up in summer and in fall, respectively. (Reporting by Ankit Ajmera in Bengaluru; Editing by Vinay Dwivedi) ((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 19 (Reuters) - Air Canada AC.TO is seeing an improvement in demand for air travel and fewer cancellations, Chief Financial Officer Michael Rousseau said at an online conference hosted by Wolfe Research. Rousseau said he expects domestic leisure and business travel to pick up in summer and in fall, respectively. (Reporting by Ankit Ajmera in Bengaluru; Editing by Vinay Dwivedi) ((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
35180.0 | 2020-05-19 00:00:00 UTC | TSX futures jump on virus vaccine optimism | AC | https://www.nasdaq.com/articles/tsx-futures-jump-on-virus-vaccine-optimism-2020-05-19 | nan | nan | May 19 (Reuters) - Canada's main stock index futures rose 2% on Tuesday, after a long holiday weekend, as sentiment was lifted by positive data from an early-stage study testing a coronavirus vaccine.
Wall Street rallied on Monday after drugmaker Moderna Inc's MRNA.O experimental COVID-19 vaccine appeared safe and showed promise in a small group of healthy volunteers, according to very early data.
June futures on the S&P/TSX index SXFc1 were up 2.07% at 7:00 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.89 percent higher at 14,638.90 on Friday.
Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.15% at 7:00 a.m. ET. S&P 500 e-mini futures ESc1 were down 0.25% and Nasdaq 100 e-mini futures NQc1 were flat. .N
TOP STORIES TOP/CAN
A Papua New Guinea court is set to rule next month on whether Barrick Gold Corp ABX.TO can proceed with a legal challenge over the government's refusal to extend its lease on the Porgera gold mine, the head of the country's mining regulator said.
Canadian Prime Minister Justin Trudeau said on Saturday he would look at possible ways to help airlines further, but laid out no new measures after the country's biggest airline announced mass layoffs due to the coronavirus pandemic.
Air Canada AC.TO said on Friday it would cut its workforce by up to 60% as the airline tries to save cash amid the COVID-19 pandemic and adjust to a lower level of traffic.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Aurora Cannabis Inc ACB.TO: Canaccord Genuity cuts target price to C$24 from C$27
Chorus Aviation Inc CHR.TO: RBC cuts target price to C$4.50 from C$6
Equinox Gold Corp EQX.TO: National Bank of Canada raises target price to C$18.50 from C$17.50
Onex Corp ONEX.TO: Canaccord Genuity raises price target to C$75 from C$72
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1,735.6; +0.07% GOL/
US crude CLc1: $32.55; +2.29% O/R
Brent crude LCOc1: $34.8; -0.03% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Building permits number for Apr: Expected 1.0 mln; Prior 1.350 mln
0830 Build permits change mm for Apr: Prior -7.0%
0830 Housing starts number for Apr: Expected 0.927 mln; Prior 1.216 mln
0830 House starts mm change for Apr: Prior -22.3%
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$1.39)
(Reporting by Priyanka Das in Bengaluru; Editing by Amy Caren Daniel)
((Priyanka.das@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. | May 19 (Reuters) - Canada's main stock index futures rose 2% on Tuesday, after a long holiday weekend, as sentiment was lifted by positive data from an early-stage study testing a coronavirus vaccine. Wall Street rallied on Monday after drugmaker Moderna Inc's MRNA.O experimental COVID-19 vaccine appeared safe and showed promise in a small group of healthy volunteers, according to very early data. Air Canada AC.TO said on Friday it would cut its workforce by up to 60% as the airline tries to save cash amid the COVID-19 pandemic and adjust to a lower level of traffic. | Aurora Cannabis Inc ACB.TO: Canaccord Genuity cuts target price to C$24 from C$27 Chorus Aviation Inc CHR.TO: RBC cuts target price to C$4.50 from C$6 Equinox Gold Corp EQX.TO: National Bank of Canada raises target price to C$18.50 from C$17.50 Onex Corp ONEX.TO: Canaccord Genuity raises price target to C$75 from C$72 COMMODITIES AT 7:00 a.m. May 19 (Reuters) - Canada's main stock index futures rose 2% on Tuesday, after a long holiday weekend, as sentiment was lifted by positive data from an early-stage study testing a coronavirus vaccine. Wall Street rallied on Monday after drugmaker Moderna Inc's MRNA.O experimental COVID-19 vaccine appeared safe and showed promise in a small group of healthy volunteers, according to very early data. | May 19 (Reuters) - Canada's main stock index futures rose 2% on Tuesday, after a long holiday weekend, as sentiment was lifted by positive data from an early-stage study testing a coronavirus vaccine. Aurora Cannabis Inc ACB.TO: Canaccord Genuity cuts target price to C$24 from C$27 Chorus Aviation Inc CHR.TO: RBC cuts target price to C$4.50 from C$6 Equinox Gold Corp EQX.TO: National Bank of Canada raises target price to C$18.50 from C$17.50 Onex Corp ONEX.TO: Canaccord Genuity raises price target to C$75 from C$72 COMMODITIES AT 7:00 a.m. Wall Street rallied on Monday after drugmaker Moderna Inc's MRNA.O experimental COVID-19 vaccine appeared safe and showed promise in a small group of healthy volunteers, according to very early data. | May 19 (Reuters) - Canada's main stock index futures rose 2% on Tuesday, after a long holiday weekend, as sentiment was lifted by positive data from an early-stage study testing a coronavirus vaccine. Wall Street rallied on Monday after drugmaker Moderna Inc's MRNA.O experimental COVID-19 vaccine appeared safe and showed promise in a small group of healthy volunteers, according to very early data. Air Canada AC.TO said on Friday it would cut its workforce by up to 60% as the airline tries to save cash amid the COVID-19 pandemic and adjust to a lower level of traffic. |
35181.0 | 2020-05-18 00:00:00 UTC | Empty middle seat? Depends on which country you are flying in | AC | https://www.nasdaq.com/articles/empty-middle-seat-depends-on-which-country-you-are-flying-in-2020-05-18 | nan | nan | By Jamie Freed, Stella Qiu and Anne Kauranen
SYDNEY/BEIJING/HELSINKI May 19 (Reuters) - In Thailand, you cannot have food or water in flight and must wear a mask. In Malaysia and Indonesia, the plane needs to be half-empty. In the United States and Europe, it's not mandatory for airlines to leave the middle seat open.
Measures to stem the spread of coronavirus have changed how people travel, as Beijing resident Feng Xueli, 26, found when she took a domestic flight this month. The aircraft was full - allowed under the Chinese rules.
"We needed to wear a mask during the flight and there were PA announcements basically asking for our cooperation with these anti-virus measures put in place, which made me a bit nervous," Feng said. "You also need to go through a lot of temperature checks and security checks when you leave the airport."
Travellers, airlines and airports are grappling with a hodgepodge of rules put in place during the pandemic that will make flying different in almost every country.
"When flying restarts, you are already working against the clock. There is still a latent fear of travel," said Subhas Menon, head of the Association of Asia Pacific Airlines. "It's not going to be such a smooth passage when you travel because of all of the measures that are going to be introduced."
A little more than a year after uneven national responses to the grounding of the Boeing BA.N 737 MAX, the industry is once again facing piecemeal regulation.
The last trigger for such widespread changes in the way airlines operate was the 2001 attacks in the United States, which ushered in new security measures.
"People globally have understood the security requirements that came after 9/11. We would like to see that kind of standardisation of protocols," said Boeing vice-president Mike Delaney, leader of Boeing's Confident Travel Initiative.
Onboard service is changing too. Business-class meals, once a selling point for premium carriers hiring celebrity chefs, have been reduced to pre-packaged items on carriers including Emirates, Air Canada AC.TO and British Airways.
Automation is also increasing, as carriers such as Qantas Airways Ltd QAN.AX ask passengers to check in online to limit contact with staff and other fliers.
"More than ever, the industry will work towards the vision of an entirely mobile-enabled journey," said Sumesh Patel of technology provider SITA, which hopes to benefit from the trend.
EMPTY MIDDLE SEAT?
On the airplane, one of the biggest debates has been over whether middle seats should be empty.
That would limit airplanes to two-thirds of their normal capacity, not enough for most airlines to make a profit without increasing fares.
Afif Zakwan, 20, recently took a Malaysia Airlines domestic flight that was exempt from the requirement to fly half-empty.
He said he was comfortable being on a full domestic flight, but would not consider flying internationally for now.
"As more and more people travel for whatever reason, confidence and the power of word of mouth experiences will shape the... recovery," said Mayur Patel of data firm OAG Aviation.
An official at the Japan Civil Aviation Bureau said the issue of an open middle seat, which could create unfair advantages if applied unevenly, was "controversial".
"It's crucial that countries where flights depart coordinate their responses with countries where they arrive," said the official, who was not authorised to speak publicly.
Despite the call for common standards, some nations are applying their rules just to airlines registered in their country, while others are applying them to foreign carriers.
U.S. carriers are among those requiring passengers and crew to wear facial coverings, and have also endorsed temperature checks.
In Europe, airlines are largely resisting calls to leave the middle seat empty but have publicised other changes designed to reassure passengers.
"You have to remember an aircraft is not the natural place to do social-distancing, so you need to mitigate the health risks by other means, and facial masks are a good example of those means," Finnair Plc FIA1S.HEChief Executive Topi Manner told Reuters.
New measures being put in place for air travel differ by country
(Reporting by Jamie Freed in Sydney, Stella Qiu in Beijing and Anne Kauranen in Helsinki; additional reporting by Tim Hepher and Laurence Frost in Paris, Tracy Rucinski in Chicago, Liz Lee in Kuala Lumpur, Tim Kelly in Tokyo, Chayut Setboonsarng in Bangkok and Bernadette Christina Munthe in Jakarta; writing by Jamie Freed. Editing by Gerry Doyle)
((Jamie.Freed@thomsonreuters.com; +61 2 9171 7143;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | "We needed to wear a mask during the flight and there were PA announcements basically asking for our cooperation with these anti-virus measures put in place, which made me a bit nervous," Feng said. New measures being put in place for air travel differ by country (Reporting by Jamie Freed in Sydney, Stella Qiu in Beijing and Anne Kauranen in Helsinki; additional reporting by Tim Hepher and Laurence Frost in Paris, Tracy Rucinski in Chicago, Liz Lee in Kuala Lumpur, Tim Kelly in Tokyo, Chayut Setboonsarng in Bangkok and Bernadette Christina Munthe in Jakarta; writing by Jamie Freed. Travellers, airlines and airports are grappling with a hodgepodge of rules put in place during the pandemic that will make flying different in almost every country. | New measures being put in place for air travel differ by country (Reporting by Jamie Freed in Sydney, Stella Qiu in Beijing and Anne Kauranen in Helsinki; additional reporting by Tim Hepher and Laurence Frost in Paris, Tracy Rucinski in Chicago, Liz Lee in Kuala Lumpur, Tim Kelly in Tokyo, Chayut Setboonsarng in Bangkok and Bernadette Christina Munthe in Jakarta; writing by Jamie Freed. "We needed to wear a mask during the flight and there were PA announcements basically asking for our cooperation with these anti-virus measures put in place, which made me a bit nervous," Feng said. Travellers, airlines and airports are grappling with a hodgepodge of rules put in place during the pandemic that will make flying different in almost every country. | Travellers, airlines and airports are grappling with a hodgepodge of rules put in place during the pandemic that will make flying different in almost every country. New measures being put in place for air travel differ by country (Reporting by Jamie Freed in Sydney, Stella Qiu in Beijing and Anne Kauranen in Helsinki; additional reporting by Tim Hepher and Laurence Frost in Paris, Tracy Rucinski in Chicago, Liz Lee in Kuala Lumpur, Tim Kelly in Tokyo, Chayut Setboonsarng in Bangkok and Bernadette Christina Munthe in Jakarta; writing by Jamie Freed. "We needed to wear a mask during the flight and there were PA announcements basically asking for our cooperation with these anti-virus measures put in place, which made me a bit nervous," Feng said. | Travellers, airlines and airports are grappling with a hodgepodge of rules put in place during the pandemic that will make flying different in almost every country. Automation is also increasing, as carriers such as Qantas Airways Ltd QAN.AX ask passengers to check in online to limit contact with staff and other fliers. "We needed to wear a mask during the flight and there were PA announcements basically asking for our cooperation with these anti-virus measures put in place, which made me a bit nervous," Feng said. |
35182.0 | 2020-05-17 00:00:00 UTC | Canada firms unenthusiastic about complex gov't wage subsidy program - minister | AC | https://www.nasdaq.com/articles/canada-firms-unenthusiastic-about-complex-govt-wage-subsidy-program-minister-2020-05-17 | nan | nan | By David Ljunggren
OTTAWA, May 17 (Reuters) - Canadian firms are showing less interest than expected in a government wage subsidy program to help them survive the coronavirus crisis because the application process is complex, a government minister said.
Prime Minister Justin Trudeau announced on March 30 that businesses able to show their revenues had dropped by 30% because of the outbreak could apply for the subsidy to help retain their workers amid massive shutdowns.
Although the Liberal government budgeted C$73 billion on the subsidy - just under half the C$152 billion in total direct spending on measures to dull the pain of the crisis - official data last week showed only C$3.4 billion had been dispensed.
"(The pickup) has been slower than expected," Employment Minister Carla Qualtrough told CTV.
"I think businesses are having to put a lot of time and effort into their applications because you have to dig in to your payrolls - who earned what and when?" she said in an interview broadcast on Sunday.
Officials are looking at ways to streamline the process of providing data, she added.
Trudeau said on Friday the subsidy would be extended by 12 weeks until the end of August and suggested the threshold for revenue loss might be dropped to below 30% to encourage more firms to apply.
Air Canada AC.TO said on Friday it would cut its workforce by up to 60%. Asked why the firm had not used the wage subsidy instead of issuing layoffs, a representative said normal traffic levels would not be returning anytime soon.
Finance Minister Bill Morneau declined to say how much more Ottawa has budgeted to cover the extension.
"I think the uptake is going to pick up. I don't think that there's a programmatic problem ... it's more a challenge to provide the data to the government," said Qualtrough.
Ottawa is also promising unemployed Canadians up to C$2,000 a month under a separate program.
Most of Canada's 10 provinces have slowly started reopening their economies as public health agency data show the outbreak is slowing significantly.
The total death toll edged up by 1.9% to 5,702 on Sunday, one of the smallest day-on-day increases.
(Reporting by David Ljunggren Editing by Nick Zieminski)
((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.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. | Air Canada AC.TO said on Friday it would cut its workforce by up to 60%. Prime Minister Justin Trudeau announced on March 30 that businesses able to show their revenues had dropped by 30% because of the outbreak could apply for the subsidy to help retain their workers amid massive shutdowns. Trudeau said on Friday the subsidy would be extended by 12 weeks until the end of August and suggested the threshold for revenue loss might be dropped to below 30% to encourage more firms to apply. | Air Canada AC.TO said on Friday it would cut its workforce by up to 60%. By David Ljunggren OTTAWA, May 17 (Reuters) - Canadian firms are showing less interest than expected in a government wage subsidy program to help them survive the coronavirus crisis because the application process is complex, a government minister said. Although the Liberal government budgeted C$73 billion on the subsidy - just under half the C$152 billion in total direct spending on measures to dull the pain of the crisis - official data last week showed only C$3.4 billion had been dispensed. | Air Canada AC.TO said on Friday it would cut its workforce by up to 60%. By David Ljunggren OTTAWA, May 17 (Reuters) - Canadian firms are showing less interest than expected in a government wage subsidy program to help them survive the coronavirus crisis because the application process is complex, a government minister said. Prime Minister Justin Trudeau announced on March 30 that businesses able to show their revenues had dropped by 30% because of the outbreak could apply for the subsidy to help retain their workers amid massive shutdowns. | Air Canada AC.TO said on Friday it would cut its workforce by up to 60%. By David Ljunggren OTTAWA, May 17 (Reuters) - Canadian firms are showing less interest than expected in a government wage subsidy program to help them survive the coronavirus crisis because the application process is complex, a government minister said. Prime Minister Justin Trudeau announced on March 30 that businesses able to show their revenues had dropped by 30% because of the outbreak could apply for the subsidy to help retain their workers amid massive shutdowns. |
35183.0 | 2020-05-15 00:00:00 UTC | Air Canada to cut workforce by up to 60% due to coronavirus | AC | https://www.nasdaq.com/articles/air-canada-to-cut-workforce-by-up-to-60-due-to-coronavirus-2020-05-15 | nan | nan | May 15 (Reuters) - Air Canada AC.TO said on Friday it has decided to reduce its workforce by up to 60% as the airline tries to save cash amid the COVID-19 pandemic and right size its operations to the level of traffic expected in the mid-to-longer term.
The airline was working with unions to implement these measures, it said in an emailed statement.
The Canadian Union of Public Employees representing Air Canada flight attendants said the airline is set to ask employees to reduce their hours, go on leave for up to two years or resign with travel privileges, the Canadian Press reported.
The health crisis has brought a virtual halt in air travel, leading to an unprecedented number of flight cancellations globally and forcing airlines to book hefty losses.
The union was not immediately available for Reuters request for comment.
(Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Arun Koyyur)
((Sabahatjahan.Contractor@thomsonreuters.com; within U.S. +1 646 223 8780 outside the U.S. +918067492635;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 15 (Reuters) - Air Canada AC.TO said on Friday it has decided to reduce its workforce by up to 60% as the airline tries to save cash amid the COVID-19 pandemic and right size its operations to the level of traffic expected in the mid-to-longer term. (Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Arun Koyyur) ((Sabahatjahan.Contractor@thomsonreuters.com; within U.S. +1 646 223 8780 outside the U.S. +918067492635;)) 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 Union of Public Employees representing Air Canada flight attendants said the airline is set to ask employees to reduce their hours, go on leave for up to two years or resign with travel privileges, the Canadian Press reported. | May 15 (Reuters) - Air Canada AC.TO said on Friday it has decided to reduce its workforce by up to 60% as the airline tries to save cash amid the COVID-19 pandemic and right size its operations to the level of traffic expected in the mid-to-longer term. (Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Arun Koyyur) ((Sabahatjahan.Contractor@thomsonreuters.com; within U.S. +1 646 223 8780 outside the U.S. +918067492635;)) 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 Union of Public Employees representing Air Canada flight attendants said the airline is set to ask employees to reduce their hours, go on leave for up to two years or resign with travel privileges, the Canadian Press reported. | May 15 (Reuters) - Air Canada AC.TO said on Friday it has decided to reduce its workforce by up to 60% as the airline tries to save cash amid the COVID-19 pandemic and right size its operations to the level of traffic expected in the mid-to-longer term. (Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Arun Koyyur) ((Sabahatjahan.Contractor@thomsonreuters.com; within U.S. +1 646 223 8780 outside the U.S. +918067492635;)) 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 Union of Public Employees representing Air Canada flight attendants said the airline is set to ask employees to reduce their hours, go on leave for up to two years or resign with travel privileges, the Canadian Press reported. | May 15 (Reuters) - Air Canada AC.TO said on Friday it has decided to reduce its workforce by up to 60% as the airline tries to save cash amid the COVID-19 pandemic and right size its operations to the level of traffic expected in the mid-to-longer term. (Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Arun Koyyur) ((Sabahatjahan.Contractor@thomsonreuters.com; within U.S. +1 646 223 8780 outside the U.S. +918067492635;)) 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 working with unions to implement these measures, it said in an emailed statement. |
35184.0 | 2020-05-14 00:00:00 UTC | TSX rises 0.04% to 14,509.66 | AC | https://www.nasdaq.com/articles/tsx-rises-0.04-to-14509.66-2020-05-14 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.04 percent to 14,509.66
* Leading the index were Aurora Cannabis Inc , up 11.0%, Air Canada AC.TO, up 7.9%, and Endeavour Mining Corp EDV.TO, higher by 7.6%.
* Lagging shares were Frontera Energy Corp FEC.TO, down 9.5%, Equitable Group Inc EQB.TO, down 7.7%, and First Quantum Minerals Ltd FM.TO, lower by 7.6%.
* On the TSX 111 issues rose and 113 fell as a 1-to-1 ratio favored decliners. There were 8 new highs and 2 new lows, with total volume of 307.5 million shares.
* The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Enbridge Inc ENB.TO and Cenovus Energy Inc CVE.TO.
* The TSX's energy group .SPTTEN rose 0.28 points, or 0.4%, while the financials sector .SPTTFS slipped 0.01 points, or 0.0%.
* West Texas Intermediate crude futures CLc1 rose 9.57%, or $2.42, to $27.71 a barrel. Brent crude LCOc1 rose 7.43%, or $2.17, to $31.36 O/R
* The TSX is off 15% 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 0.04 percent to 14,509.66 * Leading the index were Aurora Cannabis Inc , up 11.0%, Air Canada AC.TO, up 7.9%, and Endeavour Mining Corp EDV.TO, higher by 7.6%. * Lagging shares were Frontera Energy Corp FEC.TO, down 9.5%, Equitable Group Inc EQB.TO, down 7.7%, and First Quantum Minerals Ltd FM.TO, lower by 7.6%. * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Enbridge Inc ENB.TO and Cenovus Energy Inc CVE.TO. | * The Toronto Stock Exchange's TSX rises 0.04 percent to 14,509.66 * Leading the index were Aurora Cannabis Inc , up 11.0%, Air Canada AC.TO, up 7.9%, and Endeavour Mining Corp EDV.TO, higher by 7.6%. * Lagging shares were Frontera Energy Corp FEC.TO, down 9.5%, Equitable Group Inc EQB.TO, down 7.7%, and First Quantum Minerals Ltd FM.TO, lower by 7.6%. * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Enbridge Inc ENB.TO and Cenovus Energy Inc CVE.TO. | * The Toronto Stock Exchange's TSX rises 0.04 percent to 14,509.66 * Leading the index were Aurora Cannabis Inc , up 11.0%, Air Canada AC.TO, up 7.9%, and Endeavour Mining Corp EDV.TO, higher by 7.6%. * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Enbridge Inc ENB.TO and Cenovus Energy Inc CVE.TO. * The TSX's energy group .SPTTEN rose 0.28 points, or 0.4%, while the financials sector .SPTTFS slipped 0.01 points, or 0.0%. | * The Toronto Stock Exchange's TSX rises 0.04 percent to 14,509.66 * Leading the index were Aurora Cannabis Inc , up 11.0%, Air Canada AC.TO, up 7.9%, and Endeavour Mining Corp EDV.TO, higher by 7.6%. * On the TSX 111 issues rose and 113 fell as a 1-to-1 ratio favored decliners. * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Enbridge Inc ENB.TO and Cenovus Energy Inc CVE.TO. |
35185.0 | 2020-05-13 00:00:00 UTC | CANADA STOCKS-TSX falls on oil price drop, Powell's recession warning | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-on-oil-price-drop-powells-recession-warning-2020-05-13 | nan | nan | May 13 (Reuters) - Canada's main stock index fell on Wednesday, weighed down by the energy sector and U.S. Federal Reserve Chairman Jerome Powell's warning of a prolonged economic downturn due to the coronavirus outbreak.
* At 9:50 a.m. ET (1350 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 93.62 points, or 0.63%, at 14,787.54.
* The energy sector .SPTTEN dropped 3% as U.S. crude CLc1 prices were down 0.2% a barrel, while Brent crude LCOc1 lost 0.5%. O/R
* The financials sector .SPTTFS slipped 1.2%, while the industrials sector .GSPTTIN fell 1.0%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 1.0% as gold futures GCc1 rose 0.7% to $1,717 an ounce. GOL/
* On the TSX, 56 issues were higher, while 172 issues declined for a 3.07-to-1 ratio to the downside, with 31.92 million shares traded.
* The largest percentage gainer on the TSX was mining company SEMAFO Inc , which jumped 5.5%, followed by Endeavour Mining Corp , which rose 5.1%. They gained after reporting quarterly results.
* Intertape Polymer Group Inc fell 14.7%, the most on the TSX, after the company forecast second-quarter revenue below analysts' estimates.
* The second-biggest decliner was Air Canada , down 6.0%, on reports of Canada and the United States likely to extend a ban on non-essential travel until June 21 amid the ongoing novel coronavirus pandemic.
* The most heavily traded shares by volume were Freegold Ventures Ltd StageZero Life Sciences Inc and Les Ressources Yorbeau Inc .
* The TSX posted a new 52-week high and a new low.
* Across all Canadian issues, there were four new 52-week highs and four new lows, with total volume of 62.03 million shares.
(Reporting by Amal S in Bengaluru; Editing by Maju Samuel)
((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. | * Across all Canadian issues, there were four new 52-week highs and four new lows, with total volume of 62.03 million shares. May 13 (Reuters) - Canada's main stock index fell on Wednesday, weighed down by the energy sector and U.S. Federal Reserve Chairman Jerome Powell's warning of a prolonged economic downturn due to the coronavirus outbreak. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 1.0% as gold futures GCc1 rose 0.7% to $1,717 an ounce. | * Across all Canadian issues, there were four new 52-week highs and four new lows, with total volume of 62.03 million shares. May 13 (Reuters) - Canada's main stock index fell on Wednesday, weighed down by the energy sector and U.S. Federal Reserve Chairman Jerome Powell's warning of a prolonged economic downturn due to the coronavirus outbreak. GOL/ * On the TSX, 56 issues were higher, while 172 issues declined for a 3.07-to-1 ratio to the downside, with 31.92 million shares traded. | * Across all Canadian issues, there were four new 52-week highs and four new lows, with total volume of 62.03 million shares. May 13 (Reuters) - Canada's main stock index fell on Wednesday, weighed down by the energy sector and U.S. Federal Reserve Chairman Jerome Powell's warning of a prolonged economic downturn due to the coronavirus outbreak. GOL/ * On the TSX, 56 issues were higher, while 172 issues declined for a 3.07-to-1 ratio to the downside, with 31.92 million shares traded. | * Across all Canadian issues, there were four new 52-week highs and four new lows, with total volume of 62.03 million shares. May 13 (Reuters) - Canada's main stock index fell on Wednesday, weighed down by the energy sector and U.S. Federal Reserve Chairman Jerome Powell's warning of a prolonged economic downturn due to the coronavirus outbreak. * The energy sector .SPTTEN dropped 3% as U.S. crude CLc1 prices were down 0.2% a barrel, while Brent crude LCOc1 lost 0.5%. |
35186.0 | 2020-05-11 00:00:00 UTC | Canada to create bridge financing for big companies, including airlines and energy | AC | https://www.nasdaq.com/articles/canada-to-create-bridge-financing-for-big-companies-including-airlines-and-energy-2020-05 | nan | nan | By Steve Scherer and Kelsey Johnson
OTTAWA, May 11 (Reuters) - Canada on Monday said it would create a bridge financing facility for large employers including in the airline and energy sectorsthat need help to get through the economic downturn caused by the coronavirus.
The bridge lending facility will be for all companies, except those in the financial sector, with an annual revenue of about C$300 million ($215 million) seeking financing of about C$60 million or more that have "significant operations or workforce in Canada."
"This support will not be used to resolve insolvencies or restructure firms, nor will it provide financing to companies that otherwise have the capacity to manage through the crisis," the statement said.
Companies that use the lending facility will have to commit to respect collective bargaining agreements, protecting workers' pensions, and support "national climate goals".
The government is also expanding its credit program for mid-sized companies, which will include loans of up to $60 million and guarantees of up to $80 million.
"The measures we are announcing today will add to the supports currently available to large employers in Canada to help them weather the storm during this difficult time," Innovation and Industry Minister Navdeep Bains said in a statement.
Canada shut down non-essential business starting in mid-March because of the coronavirus, throwing millions out of work. The government has already created emergency economic aid worth about C$150 billion since March.
Several provinces now are moving to gradually reopen businesses that were shut down to fight the outbreak.
($1 = 1.3983 Canadian dollars)
(Reporting by Steve Scherer and Kelsey Johnson Editing by Chizu Nomiyama and Andrea Ricci)
((steve.scherer@thomsonreuters.com; +1-613-235-6745;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Steve Scherer and Kelsey Johnson OTTAWA, May 11 (Reuters) - Canada on Monday said it would create a bridge financing facility for large employers including in the airline and energy sectorsthat need help to get through the economic downturn caused by the coronavirus. Companies that use the lending facility will have to commit to respect collective bargaining agreements, protecting workers' pensions, and support "national climate goals". The bridge lending facility will be for all companies, except those in the financial sector, with an annual revenue of about C$300 million ($215 million) seeking financing of about C$60 million or more that have "significant operations or workforce in Canada." | By Steve Scherer and Kelsey Johnson OTTAWA, May 11 (Reuters) - Canada on Monday said it would create a bridge financing facility for large employers including in the airline and energy sectorsthat need help to get through the economic downturn caused by the coronavirus. The bridge lending facility will be for all companies, except those in the financial sector, with an annual revenue of about C$300 million ($215 million) seeking financing of about C$60 million or more that have "significant operations or workforce in Canada." "This support will not be used to resolve insolvencies or restructure firms, nor will it provide financing to companies that otherwise have the capacity to manage through the crisis," the statement said. | By Steve Scherer and Kelsey Johnson OTTAWA, May 11 (Reuters) - Canada on Monday said it would create a bridge financing facility for large employers including in the airline and energy sectorsthat need help to get through the economic downturn caused by the coronavirus. The bridge lending facility will be for all companies, except those in the financial sector, with an annual revenue of about C$300 million ($215 million) seeking financing of about C$60 million or more that have "significant operations or workforce in Canada." "This support will not be used to resolve insolvencies or restructure firms, nor will it provide financing to companies that otherwise have the capacity to manage through the crisis," the statement said. | By Steve Scherer and Kelsey Johnson OTTAWA, May 11 (Reuters) - Canada on Monday said it would create a bridge financing facility for large employers including in the airline and energy sectorsthat need help to get through the economic downturn caused by the coronavirus. The bridge lending facility will be for all companies, except those in the financial sector, with an annual revenue of about C$300 million ($215 million) seeking financing of about C$60 million or more that have "significant operations or workforce in Canada." "This support will not be used to resolve insolvencies or restructure firms, nor will it provide financing to companies that otherwise have the capacity to manage through the crisis," the statement said. |
35187.0 | 2020-05-06 00:00:00 UTC | TSX futures gain on rising oil prices | AC | https://www.nasdaq.com/articles/tsx-futures-gain-on-rising-oil-prices-2020-05-06 | nan | nan | May 6 (Reuters) - Canada's main stock index futures gained on Wednesday, as easing coronavirus lockdowns lifted oil prices even as signs of a supply glut persisted.
Oil rose above $31 a barrel as hopes for a recovery in demand due to several countries easing lockdowns offset a report showing a higher-than-expected rise in U.S. inventories.
June futures on the S&P/TSX index SXFc1 were up 0.58% at 7:05 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose 0.45% to 14,811.56 on Tuesday.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.77% at 7:05 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.79% and Nasdaq 100 e-mini futures NQc1 were up 0.73%. .N
TOP STORIES TOP/CAN
Suncor Energy Inc SU.TO deepened its spending cuts, suspended its share repurchase program and cut its quarterly dividend by 55%, hit by a historic plunge in oil prices caused by a feud between Saudi Arabia and Russia and the COVID-19 pandemic.
Life insurers face a challenging year as rising unemployment from the coronavirus pandemic reduces group benefit and retirement plan enrollment, and market declines and credit deterioration weigh on asset-management earnings, Sun Life Financial Inc's SLF.TO CEO said on Tuesday.
Imperial Oil IMO.TO on Tuesday said 50 birds died after landing on tailings ponds near its Kearl Lake oilsands site in Alberta.
Canadian miner Barrick Gold Corp ABX.TO reported a nearly 55% rise in quarterly adjusted profit on Wednesday, benefiting from a surge in gold prices and higher copper production.
Canadian e-commerce company Shopify Inc SHOP.TO beat revenue estimates on Wednesday as more users visited its platform after coronavirus-driven lockdowns led merchants to move their businesses online.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Air Canada AC.TO: Cormark Securities cuts rating to market perform from buy
Canadian Imperial Bank of Commerce CM.TO: Citigroup raises rating to buy from neutral
Royal Bank of Canada RY.TO: Citigroup raises rating to buy from neutral
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1707; -0.21% GOL/
US crude CLc1: $25.41; +3.46% O/R
Brent crude LCOc1: $31.66; +2.23% O/R
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0815 (approx.) ADP national employment for Apr: Expected -20,050,000; Prior -27,000
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$1.40)
(Reporting by Nachiket Tekawade in Bengaluru; Editing by Maju Samuel)
((nachiket.tekawade@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. | Life insurers face a challenging year as rising unemployment from the coronavirus pandemic reduces group benefit and retirement plan enrollment, and market declines and credit deterioration weigh on asset-management earnings, Sun Life Financial Inc's SLF.TO CEO said on Tuesday. Air Canada AC.TO: Cormark Securities cuts rating to market perform from buy Canadian Imperial Bank of Commerce CM.TO: Citigroup raises rating to buy from neutral Royal Bank of Canada RY.TO: Citigroup raises rating to buy from neutral COMMODITIES AT 7:00 a.m. (Reporting by Nachiket Tekawade in Bengaluru; Editing by Maju Samuel) ((nachiket.tekawade@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. | Air Canada AC.TO: Cormark Securities cuts rating to market perform from buy Canadian Imperial Bank of Commerce CM.TO: Citigroup raises rating to buy from neutral Royal Bank of Canada RY.TO: Citigroup raises rating to buy from neutral COMMODITIES AT 7:00 a.m. Life insurers face a challenging year as rising unemployment from the coronavirus pandemic reduces group benefit and retirement plan enrollment, and market declines and credit deterioration weigh on asset-management earnings, Sun Life Financial Inc's SLF.TO CEO said on Tuesday. (Reporting by Nachiket Tekawade in Bengaluru; Editing by Maju Samuel) ((nachiket.tekawade@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. | Air Canada AC.TO: Cormark Securities cuts rating to market perform from buy Canadian Imperial Bank of Commerce CM.TO: Citigroup raises rating to buy from neutral Royal Bank of Canada RY.TO: Citigroup raises rating to buy from neutral COMMODITIES AT 7:00 a.m. Life insurers face a challenging year as rising unemployment from the coronavirus pandemic reduces group benefit and retirement plan enrollment, and market declines and credit deterioration weigh on asset-management earnings, Sun Life Financial Inc's SLF.TO CEO said on Tuesday. (Reporting by Nachiket Tekawade in Bengaluru; Editing by Maju Samuel) ((nachiket.tekawade@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. | Life insurers face a challenging year as rising unemployment from the coronavirus pandemic reduces group benefit and retirement plan enrollment, and market declines and credit deterioration weigh on asset-management earnings, Sun Life Financial Inc's SLF.TO CEO said on Tuesday. Air Canada AC.TO: Cormark Securities cuts rating to market perform from buy Canadian Imperial Bank of Commerce CM.TO: Citigroup raises rating to buy from neutral Royal Bank of Canada RY.TO: Citigroup raises rating to buy from neutral COMMODITIES AT 7:00 a.m. (Reporting by Nachiket Tekawade in Bengaluru; Editing by Maju Samuel) ((nachiket.tekawade@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. |
35188.0 | 2020-05-05 00:00:00 UTC | TSX futures gain on rising oil prices | AC | https://www.nasdaq.com/articles/tsx-futures-gain-on-rising-oil-prices-2020-05-05 | nan | nan | May 5 (Reuters) - Canada's main stock index futures rose on Tuesday, as oil prices jumped amid hopes of recovery in vehicle traffic and fuel demand as countries eased coronavirus-led restrictions.
Italy, Spain, Nigeria and India, together with Ohio and other U.S. states, began allowing some people to go back to work and opened up construction sites, parks and libraries.
June futures on the S&P/TSX index SXFc1 were up 0.65% at 7:00 a.m. ET.
Canada's March trade figures are due at 8:30 a.m. ET
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.85% higher at 14,745.04 on Monday.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 1.06% at 7:05 a.m. ET, while S&P 500 e-mini futures ESc1 gained 1.12% and Nasdaq 100 e-mini futures NQc1 rose 1.16%. .N
TOP STORIES TOP/CAN
Thomson Reuters Corp TRI.TO reported higher quarterly sales and operating profit that fell slightly short of Wall Street estimates on Tuesday, while cutting its full-year sales outlook due to disruption to the global economy from the coronavirus pandemic.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Air Canada AC.TO: Altacorp Capital cuts target price to C$46 from C$50
Capital Power Corp CPX.TO: National Bank of Canada cuts target price to C$39 from C$42
Kinaxis Inc KXS.TO: TD Securities raises target price to C$165 from C$130
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1705.8; -0.44% GOL/
US crude CLc1: $22.56; +10.64% O/R
Brent crude LCOc1: $29.33; +7.83% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 International Trade for Mar: Expected -$44.0 bln; Prior -$39.9 bln
0830 Goods trade balance (R) for Mar: Prior -$64.22 bln
0945 Markit Composite Final PMI for Apr: Prior 27.4
0945 Markit Services PMI Final for Apr: Prior 27.0
1000 ISM N-Manufacturing PMI for Apr: Expected 36.8; Prior 52.5
1000 ISM N-Manufacturing Business Activity for Apr: Prior 48.0
1000 ISM N-Manufacturing Employment Index for Apr: Prior 47.0
1000 ISM N-Manufacturing New Orders Index for Apr: Prior 52.9
1000 ISM N-Manufacturing Price Paid Index for Apr: Prior 50.0
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$1.41)
(Reporting by Nachiket Tekawade in Bengaluru; Editing by Krishna Chandra Eluri)
((Nachiket.tekawade@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. | Italy, Spain, Nigeria and India, together with Ohio and other U.S. states, began allowing some people to go back to work and opened up construction sites, parks and libraries. Air Canada AC.TO: Altacorp Capital cuts target price to C$46 from C$50 Capital Power Corp CPX.TO: National Bank of Canada cuts target price to C$39 from C$42 Kinaxis Inc KXS.TO: TD Securities raises target price to C$165 from C$130 COMMODITIES AT 7:00 a.m. 0830 International Trade for Mar: Expected -$44.0 bln; Prior -$39.9 bln 0830 Goods trade balance (R) for Mar: Prior -$64.22 bln 0945 Markit Composite Final PMI for Apr: Prior 27.4 0945 Markit Services PMI Final for Apr: Prior 27.0 1000 ISM N-Manufacturing PMI for Apr: Expected 36.8; Prior 52.5 1000 ISM N-Manufacturing Business Activity for Apr: Prior 48.0 1000 ISM N-Manufacturing Employment Index for Apr: Prior 47.0 1000 ISM N-Manufacturing New Orders Index for Apr: Prior 52.9 1000 ISM N-Manufacturing Price Paid Index for Apr: Prior 50.0 | 0830 International Trade for Mar: Expected -$44.0 bln; Prior -$39.9 bln 0830 Goods trade balance (R) for Mar: Prior -$64.22 bln 0945 Markit Composite Final PMI for Apr: Prior 27.4 0945 Markit Services PMI Final for Apr: Prior 27.0 1000 ISM N-Manufacturing PMI for Apr: Expected 36.8; Prior 52.5 1000 ISM N-Manufacturing Business Activity for Apr: Prior 48.0 1000 ISM N-Manufacturing Employment Index for Apr: Prior 47.0 1000 ISM N-Manufacturing New Orders Index for Apr: Prior 52.9 1000 ISM N-Manufacturing Price Paid Index for Apr: Prior 50.0 Italy, Spain, Nigeria and India, together with Ohio and other U.S. states, began allowing some people to go back to work and opened up construction sites, parks and libraries. Air Canada AC.TO: Altacorp Capital cuts target price to C$46 from C$50 Capital Power Corp CPX.TO: National Bank of Canada cuts target price to C$39 from C$42 Kinaxis Inc KXS.TO: TD Securities raises target price to C$165 from C$130 COMMODITIES AT 7:00 a.m. | Air Canada AC.TO: Altacorp Capital cuts target price to C$46 from C$50 Capital Power Corp CPX.TO: National Bank of Canada cuts target price to C$39 from C$42 Kinaxis Inc KXS.TO: TD Securities raises target price to C$165 from C$130 COMMODITIES AT 7:00 a.m. 0830 International Trade for Mar: Expected -$44.0 bln; Prior -$39.9 bln 0830 Goods trade balance (R) for Mar: Prior -$64.22 bln 0945 Markit Composite Final PMI for Apr: Prior 27.4 0945 Markit Services PMI Final for Apr: Prior 27.0 1000 ISM N-Manufacturing PMI for Apr: Expected 36.8; Prior 52.5 1000 ISM N-Manufacturing Business Activity for Apr: Prior 48.0 1000 ISM N-Manufacturing Employment Index for Apr: Prior 47.0 1000 ISM N-Manufacturing New Orders Index for Apr: Prior 52.9 1000 ISM N-Manufacturing Price Paid Index for Apr: Prior 50.0 Italy, Spain, Nigeria and India, together with Ohio and other U.S. states, began allowing some people to go back to work and opened up construction sites, parks and libraries. | Italy, Spain, Nigeria and India, together with Ohio and other U.S. states, began allowing some people to go back to work and opened up construction sites, parks and libraries. Air Canada AC.TO: Altacorp Capital cuts target price to C$46 from C$50 Capital Power Corp CPX.TO: National Bank of Canada cuts target price to C$39 from C$42 Kinaxis Inc KXS.TO: TD Securities raises target price to C$165 from C$130 COMMODITIES AT 7:00 a.m. 0830 International Trade for Mar: Expected -$44.0 bln; Prior -$39.9 bln 0830 Goods trade balance (R) for Mar: Prior -$64.22 bln 0945 Markit Composite Final PMI for Apr: Prior 27.4 0945 Markit Services PMI Final for Apr: Prior 27.0 1000 ISM N-Manufacturing PMI for Apr: Expected 36.8; Prior 52.5 1000 ISM N-Manufacturing Business Activity for Apr: Prior 48.0 1000 ISM N-Manufacturing Employment Index for Apr: Prior 47.0 1000 ISM N-Manufacturing New Orders Index for Apr: Prior 52.9 1000 ISM N-Manufacturing Price Paid Index for Apr: Prior 50.0 |
35189.0 | 2020-05-05 00:00:00 UTC | Duterte says sorry to Philippine tycoons, their firms' shares surge | AC | https://www.nasdaq.com/articles/duterte-says-sorry-to-philippine-tycoons-their-firms-shares-surge-2020-05-05 | nan | nan | Duterte apologises, says humbled by coronavirus struggle
Shares in Ayala, Metro Pacific soar
Philippines' top water utilities facing regulatory hurdles
Recasts, adds details, background, Ayala comment
MANILA, May 5 (Reuters) - Philippine President Rodrigo Duterte has apologised for his "hurting words" about two tycoons whom he openly dislikes, responding to their help in fighting the coronavirus by offering an olive branch to settle a costly regulatory row.
Shares in conglomerates Ayala Corp AC.PS and Metro Pacific Investments Corp MPI.PS, owners of the country's two largest water distributors, climbed on Tuesday following the president's late night apology.
"So maybe there will be a lot of legal issues but we can talk. I am ready to talk and I would be reasonable," Duterte said during a televised speech.
"My hurtful words to the Ayalas and to (Manuel) Pangilinan, I apologise for the hurting words," he said, adding that the novel coronavirus outbreak had humbled him.
During his four years in office, Duterte has repeatedly lashed out at Pangilinan and the Ayala family for numerous reasons. The billionaires typically do not comment on his remarks.
Between them, their firms have a telecoms duopoly and major interests in real estate, retail, renewable energy, healthcare, power, education and infrastructure.
The Philippines was among the first countries to enforce strict home quarantine measures against coronavirus, which has infected 9,485 people in the country and killed 623 of them.
The capital, Manila, and several other urban centres have been under a strict lockdown for nearly seven weeks.
Private firms have donated much-needed protective gear and other supplies to hospitals and the public, plugging some gaps in government efforts.
Ayala Corp rose as much as 8.5% while subsidiary Manila Water Co Inc MWC.PS spiked up to 13.2% and infrastructure conglomerate Metro Pacific rose as much as 11.6%, all outpacing the 1.8% uptick of the broader index .PSI.
Duterte had criticised contracts of Manila Water and Metro Pacific's Maynilad Water "onerous and disadvantageous" to the public and threatened to strip them of their concessions.
His public barbs since December have caused big share price losses for the companies, and rattled investors already wary about regulatory risks from Duterte's notorious volatility and his influence over courts and Congress.
The companies' concessions, which allow them to service a combined 16 million customers mostly in the capital, will expire in 2022 but are subject to a 15-year extension under review.
In a statement, Ayala's top executives welcomed Duterte's comments, committing to help the government to save lives and gradually put the country back on a growth path.
Pangilinan also welcomed Duterte's remarks, saying his group was willing to work with the government.
(Reporting by Neil Jerome Morales; Editing by Martin Petty, Robert Birsel)
((neiljerome.morales@thomsonreuters.com; +632 8841 8914;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Duterte apologises, says humbled by coronavirus struggle Shares in Ayala, Metro Pacific soar Philippines' top water utilities facing regulatory hurdles Recasts, adds details, background, Ayala comment MANILA, May 5 (Reuters) - Philippine President Rodrigo Duterte has apologised for his "hurting words" about two tycoons whom he openly dislikes, responding to their help in fighting the coronavirus by offering an olive branch to settle a costly regulatory row. In a statement, Ayala's top executives welcomed Duterte's comments, committing to help the government to save lives and gradually put the country back on a growth path. Shares in conglomerates Ayala Corp AC.PS and Metro Pacific Investments Corp MPI.PS, owners of the country's two largest water distributors, climbed on Tuesday following the president's late night apology. | Duterte apologises, says humbled by coronavirus struggle Shares in Ayala, Metro Pacific soar Philippines' top water utilities facing regulatory hurdles Recasts, adds details, background, Ayala comment MANILA, May 5 (Reuters) - Philippine President Rodrigo Duterte has apologised for his "hurting words" about two tycoons whom he openly dislikes, responding to their help in fighting the coronavirus by offering an olive branch to settle a costly regulatory row. Shares in conglomerates Ayala Corp AC.PS and Metro Pacific Investments Corp MPI.PS, owners of the country's two largest water distributors, climbed on Tuesday following the president's late night apology. Ayala Corp rose as much as 8.5% while subsidiary Manila Water Co Inc MWC.PS spiked up to 13.2% and infrastructure conglomerate Metro Pacific rose as much as 11.6%, all outpacing the 1.8% uptick of the broader index .PSI. | Duterte apologises, says humbled by coronavirus struggle Shares in Ayala, Metro Pacific soar Philippines' top water utilities facing regulatory hurdles Recasts, adds details, background, Ayala comment MANILA, May 5 (Reuters) - Philippine President Rodrigo Duterte has apologised for his "hurting words" about two tycoons whom he openly dislikes, responding to their help in fighting the coronavirus by offering an olive branch to settle a costly regulatory row. Duterte had criticised contracts of Manila Water and Metro Pacific's Maynilad Water "onerous and disadvantageous" to the public and threatened to strip them of their concessions. In a statement, Ayala's top executives welcomed Duterte's comments, committing to help the government to save lives and gradually put the country back on a growth path. | Duterte apologises, says humbled by coronavirus struggle Shares in Ayala, Metro Pacific soar Philippines' top water utilities facing regulatory hurdles Recasts, adds details, background, Ayala comment MANILA, May 5 (Reuters) - Philippine President Rodrigo Duterte has apologised for his "hurting words" about two tycoons whom he openly dislikes, responding to their help in fighting the coronavirus by offering an olive branch to settle a costly regulatory row. Shares in conglomerates Ayala Corp AC.PS and Metro Pacific Investments Corp MPI.PS, owners of the country's two largest water distributors, climbed on Tuesday following the president's late night apology. Ayala Corp rose as much as 8.5% while subsidiary Manila Water Co Inc MWC.PS spiked up to 13.2% and infrastructure conglomerate Metro Pacific rose as much as 11.6%, all outpacing the 1.8% uptick of the broader index .PSI. |
35190.0 | 2020-05-04 00:00:00 UTC | TSX rises 0.85% to 14,745.04 | AC | https://www.nasdaq.com/articles/tsx-rises-0.85-to-14745.04-2020-05-04 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.85 percent to 14,745.04
* Leading the index were Shopify Inc , up 7.6%, Centerra Gold Inc CG.TO, up 6.8%, and Canfor Corp CFP.TO, higher by 6.5%.
* Lagging shares were Chorus Aviation Inc CHR.TO, down 10.0%, Air Canada AC.TO, down 8.6%, and Celestica Inc CLS.TO, lower by 8.3%.
* On the TSX 120 issues rose and 107 fell as a 1.1-to-1 ratio favored advancers. There were 7 new highs and no new lows, with total volume of 295.1 million shares.
* The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Stars Group Inc TSGI.TO and Cenovus Energy Inc CVE.TO.
* The TSX's energy group .SPTTEN rose 0.15 points, or 0.2%, while the financials sector .SPTTFS climbed 0.66 points, or 0.3%.
* West Texas Intermediate crude futures CLc1 rose 7.08%, or $1.4, to $21.18 a barrel. Brent crude LCOc1 rose 5.33%, or $1.41, to $27.85 O/R
* The TSX is off 13.6% 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. | * Lagging shares were Chorus Aviation Inc CHR.TO, down 10.0%, Air Canada AC.TO, down 8.6%, and Celestica Inc CLS.TO, lower by 8.3%. * The Toronto Stock Exchange's TSX rises 0.85 percent to 14,745.04 * Leading the index were Shopify Inc , up 7.6%, Centerra Gold Inc CG.TO, up 6.8%, and Canfor Corp CFP.TO, higher by 6.5%. * The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Stars Group Inc TSGI.TO and Cenovus Energy Inc CVE.TO. | * Lagging shares were Chorus Aviation Inc CHR.TO, down 10.0%, Air Canada AC.TO, down 8.6%, and Celestica Inc CLS.TO, lower by 8.3%. * On the TSX 120 issues rose and 107 fell as a 1.1-to-1 ratio favored advancers. * The TSX's energy group .SPTTEN rose 0.15 points, or 0.2%, while the financials sector .SPTTFS climbed 0.66 points, or 0.3%. | * Lagging shares were Chorus Aviation Inc CHR.TO, down 10.0%, Air Canada AC.TO, down 8.6%, and Celestica Inc CLS.TO, lower by 8.3%. * The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Stars Group Inc TSGI.TO and Cenovus Energy Inc CVE.TO. * The TSX's energy group .SPTTEN rose 0.15 points, or 0.2%, while the financials sector .SPTTFS climbed 0.66 points, or 0.3%. | * Lagging shares were Chorus Aviation Inc CHR.TO, down 10.0%, Air Canada AC.TO, down 8.6%, and Celestica Inc CLS.TO, lower by 8.3%. * The Toronto Stock Exchange's TSX rises 0.85 percent to 14,745.04 * Leading the index were Shopify Inc , up 7.6%, Centerra Gold Inc CG.TO, up 6.8%, and Canfor Corp CFP.TO, higher by 6.5%. * The most heavily traded shares by volume were Bombardier Inc BBDb.TO, Stars Group Inc TSGI.TO and Cenovus Energy Inc CVE.TO. |
35191.0 | 2020-05-04 00:00:00 UTC | Canadian province of Quebec starts gradually reopening, Trudeau maintains caution | AC | https://www.nasdaq.com/articles/canadian-province-of-quebec-starts-gradually-reopening-trudeau-maintains-caution-2020-05-0 | nan | nan | By Allison Lampert
MONTREAL, May 4 (Reuters) - The major Canadian province of Quebec, among the worst hit by the coronavirus, started gradually restarting its economy on Monday while Prime Minister Justin Trudeau maintained his cautious stance.
Quebec is allowing stores with an outside entrance for customers to reopen but this does not apply to Montreal, Canada's second largest city, where retail establishments must wait until May 11.
Although Quebec makes up 24% of the Canadian population, it accounts for 54% of the cases and 60% of the deaths. Canada has so far reported 59,844 positive diagnoses and 3,766 deaths, official data showed on Monday.
Most Quebec cases have occurred in seniors' residences and among the elderly and the government of Premier Francois Legault says the time is right to start gradually lifting restrictions. He also says some schools will reopen this month.
"We still need to be extremely careful, not just for our seniors but for everyone around us. So don't go out unless you absolutely have to," Trudeau said on Monday.
"Even as the economy is starting to gradually reopen our focus is on keeping people safe," he told reporters.
Air Canada AC.TO posted a bigger-than-expected quarterly loss, and its shares sank 5% as the carrier warned third-quarter capacity would slump about 75% as people stay home.
Trudeau said Ottawa would help the airline and tourism sectors and promised an announcement in the next week. He did not give details.
The provinces have a large amount of control over their economies and health care systems and Trudeau has so far not offered any criticism.
But he appeared uncertain when asked by public broadcaster Radio Canada whether he would allow his children to go back to school if he lived in Quebec.
He paused before replying "I don't know", while noting schools in Ontario - the most populous of Canada's 10 provinces - were not going to reopen soon.
The exchange was part of an interview with Trudeau that was broadcast on Sunday night.
Louise Labrie, a union leader who represents workers at public-subsidized daycares, said many Quebec parents had to decide right away whether to send their children back.
Many of the staff who have health conditions are afraid of being called back to work, despite the promise of masks, she said by phone.
"We have workers who are vulnerable, who have chronic illness, or live with a vulnerable family member," she said.
Air Canada posts steep loss in 'darkest period' during pandemic, shares dive
(Writing by David Ljunggren Editing by Marguerita Choy and Lisa Shumaker)
((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.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. | Air Canada AC.TO posted a bigger-than-expected quarterly loss, and its shares sank 5% as the carrier warned third-quarter capacity would slump about 75% as people stay home. Although Quebec makes up 24% of the Canadian population, it accounts for 54% of the cases and 60% of the deaths. But he appeared uncertain when asked by public broadcaster Radio Canada whether he would allow his children to go back to school if he lived in Quebec. | Although Quebec makes up 24% of the Canadian population, it accounts for 54% of the cases and 60% of the deaths. Air Canada AC.TO posted a bigger-than-expected quarterly loss, and its shares sank 5% as the carrier warned third-quarter capacity would slump about 75% as people stay home. But he appeared uncertain when asked by public broadcaster Radio Canada whether he would allow his children to go back to school if he lived in Quebec. | But he appeared uncertain when asked by public broadcaster Radio Canada whether he would allow his children to go back to school if he lived in Quebec. Although Quebec makes up 24% of the Canadian population, it accounts for 54% of the cases and 60% of the deaths. Air Canada AC.TO posted a bigger-than-expected quarterly loss, and its shares sank 5% as the carrier warned third-quarter capacity would slump about 75% as people stay home. | But he appeared uncertain when asked by public broadcaster Radio Canada whether he would allow his children to go back to school if he lived in Quebec. Although Quebec makes up 24% of the Canadian population, it accounts for 54% of the cases and 60% of the deaths. Air Canada AC.TO posted a bigger-than-expected quarterly loss, and its shares sank 5% as the carrier warned third-quarter capacity would slump about 75% as people stay home. |
35192.0 | 2020-05-04 00:00:00 UTC | TSX falls on escalating U.S.-China tension over virus origin | AC | https://www.nasdaq.com/articles/tsx-falls-on-escalating-u.s.-china-tension-over-virus-origin-2020-05-04 | nan | nan | May 4 (Reuters) - Canada's main stock index fell on Monday in line with Wall Street, as escalating tensions between the United States and China regarding the origin of the novel coronavirus fueled fears of a new trade war.
U.S. State Secretary Mike Pompeo said on Sunday that there was "a significant amount of evidence" that the new coronavirus originated from a Chinese laboratory. Last week, President Donald Trump had threatened further tariff action against China over the virus.
* At 9:39 a.m. ET (1339 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 79.55 points, or 0.54%, at 14,540.79.
* The energy sector .SPTTEN dropped 1.8% as U.S. crude CLc1 prices were down 1.4% a barrel, while Brent crude LCOc1 lost 0.5%. O/R
* The financials sector .SPTTFS slipped 1.4%. The industrials sector .GSPTTIN fell 1.1%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 1.6% as gold futures GCc1 rose 0.3% to $1,699.6 an ounce. GOL/
* On the TSX, 49 issues were higher, while 180 issues declined for a 3.67-to-1 ratio to the downside, with 22.88 million shares traded.
* The largest percentage gainers on the TSX were NovaGold Resources Inc and Wesdome Gold Mines Ltd WDO.TO that jumped 4.3% and 4.2% respectively after gold prices rose as the Sino-U.S. tensions pushed investors to safe havens.
* Chorus Aviation Inc fell 11.5%, the most on the TSX. The second-biggest decliner was Air Canada , down 9.4% after it posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity due to the COVID-19 pandemic.
* The most heavily traded shares by volume were Air Canada , Bombardier Inc and Bank of Montreal .
* The TSX posted six new 52-week highs and no new lows.
* Across all Canadian issues, there were 15 new 52-week highs and five new lows, with total volume of 41.62 million shares.
(Reporting by Amal S in Bengaluru; Editing by Maju Samuel)
((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 second-biggest decliner was Air Canada , down 9.4% after it posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity due to the COVID-19 pandemic. Last week, President Donald Trump had threatened further tariff action against China over the virus. * Across all Canadian issues, there were 15 new 52-week highs and five new lows, with total volume of 41.62 million shares. | Last week, President Donald Trump had threatened further tariff action against China over the virus. The second-biggest decliner was Air Canada , down 9.4% after it posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity due to the COVID-19 pandemic. * Across all Canadian issues, there were 15 new 52-week highs and five new lows, with total volume of 41.62 million shares. | Last week, President Donald Trump had threatened further tariff action against China over the virus. The second-biggest decliner was Air Canada , down 9.4% after it posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity due to the COVID-19 pandemic. * Across all Canadian issues, there were 15 new 52-week highs and five new lows, with total volume of 41.62 million shares. | Last week, President Donald Trump had threatened further tariff action against China over the virus. The second-biggest decliner was Air Canada , down 9.4% after it posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity due to the COVID-19 pandemic. * Across all Canadian issues, there were 15 new 52-week highs and five new lows, with total volume of 41.62 million shares. |
35193.0 | 2020-05-04 00:00:00 UTC | Futures slip on rising U.S.-China tensions | AC | https://www.nasdaq.com/articles/futures-slip-on-rising-u.s.-china-tensions-2020-05-04 | nan | nan | May 4 (Reuters) - Canada's stock futures edged lower on Monday due to heightening tensions between United States and China over the origin of the coronavirus.
U.S. Secretary of State Mike Pompeo said on Sunday there was "a significant amount of evidence" that the new coronavirus emerged from a Chinese laboratory, but did not dispute U.S. intelligence agencies' conclusion that it was not man-made.
Oil prices fell on Monday on worries that a global oil glut may persist even as coronavirus pandemic lockdowns start to ease.
June futures on the S&P/TSX index SXFc1 were down 0.33% at 7:00 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index fell 1.09% to 14,620.34 on Friday.
Dow Jones Industrial Average e-mini futures 1YMc1 fell 1.25% at 7:00 a.m. ET. S&P 500 e-mini futures ESc1 dropped 1% and Nasdaq 100 e-mini futures NQc1 declined 0.95%. .N
TOP STORIES TOP/CAN
Air Canada AC.TO on Monday posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity, as the COVID-19 pandemic-triggered lockdowns kept people at home.
Canada said on Sunday it was giving privately held Canadian firm AbCellera Biologics Inc C$176 million to help it find naturally produced antibodies that could be used to battle the coronavirus outbreak.
Corona beer maker Constellation Brands Inc's subsidiary has exercised warrants to buy shares of Canopy Growth Corp WEED.TO, increasing its stake to 38.6% in the Canadian marijuana producer.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Endeavour Mining Corp EDV.TO: Berenberg raises target price to C$34 from C$31
Toromont Industries Ltd TIH.TO: Canaccord Genuity raises target price to C$71 from C$66
Whitecap Resources Inc WCP.TO: Eight Capital raises target price to C$3.10 from C$2.75
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1714.1; +0.78% GOL/
US crude CLc1: $18.75; -5.21% O/R
Brent crude LCOc1: $25.83; -2.31% O/R
U.S. ECONOMIC DATA DUE ON MONDAY
0945 ISM-New York Index for Apr: Prior 849.3
0945 ISM New York Business Conditions for Apr: Prior 12.9
1000 Durables ex-defense, R mm for Mar: Prior -15.8%
1000 Durable goods, R mm for Mar: Prior -14.4%
1000 Factory orders mm for Mar: Expected -9.8%; Prior 0.0%
1000 Durables ex-transport R mm for Mar: Prior -0.2%
1000 Nondefense cap ex-air R mm for Mar: Prior 0.1%
1000 Factory ex-transport mm for Mar: Prior -0.9%
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$1.41)
(Reporting by Nachiket Tekawade in Bengaluru; Editing by Amy Caren Daniel)
((Nachiket.tekawade@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. | Air Canada AC.TO on Monday posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity, as the COVID-19 pandemic-triggered lockdowns kept people at home. Endeavour Mining Corp EDV.TO: Berenberg raises target price to C$34 from C$31 Toromont Industries Ltd TIH.TO: Canaccord Genuity raises target price to C$71 from C$66 Whitecap Resources Inc WCP.TO: Eight Capital raises target price to C$3.10 from C$2.75 COMMODITIES AT 7:00 a.m. 0945 ISM-New York Index for Apr: Prior 849.3 0945 ISM New York Business Conditions for Apr: Prior 12.9 1000 Durables ex-defense, R mm for Mar: Prior -15.8% 1000 Durable goods, R mm for Mar: Prior -14.4% 1000 Factory orders mm for Mar: Expected -9.8%; Prior 0.0% 1000 Durables ex-transport R mm for Mar: Prior -0.2% 1000 Nondefense cap ex-air R mm for Mar: Prior 0.1% 1000 Factory ex-transport mm for Mar: Prior -0.9% | 0945 ISM-New York Index for Apr: Prior 849.3 0945 ISM New York Business Conditions for Apr: Prior 12.9 1000 Durables ex-defense, R mm for Mar: Prior -15.8% 1000 Durable goods, R mm for Mar: Prior -14.4% 1000 Factory orders mm for Mar: Expected -9.8%; Prior 0.0% 1000 Durables ex-transport R mm for Mar: Prior -0.2% 1000 Nondefense cap ex-air R mm for Mar: Prior 0.1% 1000 Factory ex-transport mm for Mar: Prior -0.9% Air Canada AC.TO on Monday posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity, as the COVID-19 pandemic-triggered lockdowns kept people at home. Endeavour Mining Corp EDV.TO: Berenberg raises target price to C$34 from C$31 Toromont Industries Ltd TIH.TO: Canaccord Genuity raises target price to C$71 from C$66 Whitecap Resources Inc WCP.TO: Eight Capital raises target price to C$3.10 from C$2.75 COMMODITIES AT 7:00 a.m. | 0945 ISM-New York Index for Apr: Prior 849.3 0945 ISM New York Business Conditions for Apr: Prior 12.9 1000 Durables ex-defense, R mm for Mar: Prior -15.8% 1000 Durable goods, R mm for Mar: Prior -14.4% 1000 Factory orders mm for Mar: Expected -9.8%; Prior 0.0% 1000 Durables ex-transport R mm for Mar: Prior -0.2% 1000 Nondefense cap ex-air R mm for Mar: Prior 0.1% 1000 Factory ex-transport mm for Mar: Prior -0.9% Air Canada AC.TO on Monday posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity, as the COVID-19 pandemic-triggered lockdowns kept people at home. Endeavour Mining Corp EDV.TO: Berenberg raises target price to C$34 from C$31 Toromont Industries Ltd TIH.TO: Canaccord Genuity raises target price to C$71 from C$66 Whitecap Resources Inc WCP.TO: Eight Capital raises target price to C$3.10 from C$2.75 COMMODITIES AT 7:00 a.m. | Air Canada AC.TO on Monday posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity, as the COVID-19 pandemic-triggered lockdowns kept people at home. Endeavour Mining Corp EDV.TO: Berenberg raises target price to C$34 from C$31 Toromont Industries Ltd TIH.TO: Canaccord Genuity raises target price to C$71 from C$66 Whitecap Resources Inc WCP.TO: Eight Capital raises target price to C$3.10 from C$2.75 COMMODITIES AT 7:00 a.m. 0945 ISM-New York Index for Apr: Prior 849.3 0945 ISM New York Business Conditions for Apr: Prior 12.9 1000 Durables ex-defense, R mm for Mar: Prior -15.8% 1000 Durable goods, R mm for Mar: Prior -14.4% 1000 Factory orders mm for Mar: Expected -9.8%; Prior 0.0% 1000 Durables ex-transport R mm for Mar: Prior -0.2% 1000 Nondefense cap ex-air R mm for Mar: Prior 0.1% 1000 Factory ex-transport mm for Mar: Prior -0.9% |
35194.0 | 2020-05-04 00:00:00 UTC | Air Canada posts quarterly loss, warns of capacity decline on pandemic woes | AC | https://www.nasdaq.com/articles/air-canada-posts-quarterly-loss-warns-of-capacity-decline-on-pandemic-woes-2020-05-04 | nan | nan | Adds CEO comment, adds details on outlook
May 4 (Reuters) - Air Canada AC.TO on Monday posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity, as the COVID-19 pandemic-triggered lockdowns kept people at home.
Canada's largest carrier, like several of its global peers, has canceled flights, suspended financial forecasts and sought government aid as the airline industry deals with its worst slump.
Chief Executive Calin Rovinescu said in a statement the COVID-19 impact was exacerbated in March with mandated social distancing, travel restrictions in Canada and around the world, and the shutting down of economies.
"We expect that both the overall industry and our airline will be considerably smaller for some time, which will unfortunately result in significant reductions in both fleet and employee levels."
Air Canada has adopted the government's wage subsidy for its Canada-based workforce, in a bid to keep its employees on payroll as it wrestles with the economic fallout from the health crisis.
The airline has forecast an 85%-90% decline in second-quarter capacity.
The company reported an adjusted net loss of C$392 million ($277.97 million), or C$1.49 per share, in the first quarter ended March 31, compared with a profit of C$17 million, or 6 Canadian cents per share, a year earlier.
Analysts on average had expected a quarterly loss of C$1.22 per share, according to IBES data from Refinitiv.
Operating revenue fell 16.1% to C$3.72 billion.
($1 = 1.4102 Canadian dollars)
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shinjini Ganguli)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Chief Executive Calin Rovinescu said in a statement the COVID-19 impact was exacerbated in March with mandated social distancing, travel restrictions in Canada and around the world, and the shutting down of economies. Adds CEO comment, adds details on outlook May 4 (Reuters) - Air Canada AC.TO on Monday posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity, as the COVID-19 pandemic-triggered lockdowns kept people at home. The airline has forecast an 85%-90% decline in second-quarter capacity. | Adds CEO comment, adds details on outlook May 4 (Reuters) - Air Canada AC.TO on Monday posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity, as the COVID-19 pandemic-triggered lockdowns kept people at home. Analysts on average had expected a quarterly loss of C$1.22 per share, according to IBES data from Refinitiv. Chief Executive Calin Rovinescu said in a statement the COVID-19 impact was exacerbated in March with mandated social distancing, travel restrictions in Canada and around the world, and the shutting down of economies. | Adds CEO comment, adds details on outlook May 4 (Reuters) - Air Canada AC.TO on Monday posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity, as the COVID-19 pandemic-triggered lockdowns kept people at home. Chief Executive Calin Rovinescu said in a statement the COVID-19 impact was exacerbated in March with mandated social distancing, travel restrictions in Canada and around the world, and the shutting down of economies. The airline has forecast an 85%-90% decline in second-quarter capacity. | Adds CEO comment, adds details on outlook May 4 (Reuters) - Air Canada AC.TO on Monday posted a bigger-than-expected quarterly loss and warned of an about 75% drop in third-quarter capacity, as the COVID-19 pandemic-triggered lockdowns kept people at home. Chief Executive Calin Rovinescu said in a statement the COVID-19 impact was exacerbated in March with mandated social distancing, travel restrictions in Canada and around the world, and the shutting down of economies. The airline has forecast an 85%-90% decline in second-quarter capacity. |
35195.0 | 2020-05-04 00:00:00 UTC | Air Canada posts adjusted quarterly loss on pandemic woes | AC | https://www.nasdaq.com/articles/air-canada-posts-adjusted-quarterly-loss-on-pandemic-woes-2020-05-04 | nan | nan | May 4 (Reuters) - Air Canada AC.TO on Monday swung to a quarterly loss from a year-ago profit, hit by the coronavirus pandemic that brought travel to a virtual halt.
Canada's largest carrier also said it now expects second-quarter capacity to fall by 85% to 90% compared to a year earlier.
The company reported an adjusted net loss of C$392 million ($277.97 million), or C$1.49 per share, in the first quarter ended March 31, compared with a profit of C$17 million, or 6 Canadian cents per share, a year earlier.
Operating revenue fell 16.1% to C$3.72 billion.
($1 = 1.4102 Canadian dollars)
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shinjini Ganguli)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 4 (Reuters) - Air Canada AC.TO on Monday swung to a quarterly loss from a year-ago profit, hit by the coronavirus pandemic that brought travel to a virtual halt. Canada's largest carrier also said it now expects second-quarter capacity to fall by 85% to 90% compared to a year earlier. ($1 = 1.4102 Canadian dollars) (Reporting by Sanjana Shivdas in Bengaluru; Editing by Shinjini Ganguli) ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 4 (Reuters) - Air Canada AC.TO on Monday swung to a quarterly loss from a year-ago profit, hit by the coronavirus pandemic that brought travel to a virtual halt. Canada's largest carrier also said it now expects second-quarter capacity to fall by 85% to 90% compared to a year earlier. The company reported an adjusted net loss of C$392 million ($277.97 million), or C$1.49 per share, in the first quarter ended March 31, compared with a profit of C$17 million, or 6 Canadian cents per share, a year earlier. | May 4 (Reuters) - Air Canada AC.TO on Monday swung to a quarterly loss from a year-ago profit, hit by the coronavirus pandemic that brought travel to a virtual halt. Canada's largest carrier also said it now expects second-quarter capacity to fall by 85% to 90% compared to a year earlier. The company reported an adjusted net loss of C$392 million ($277.97 million), or C$1.49 per share, in the first quarter ended March 31, compared with a profit of C$17 million, or 6 Canadian cents per share, a year earlier. | May 4 (Reuters) - Air Canada AC.TO on Monday swung to a quarterly loss from a year-ago profit, hit by the coronavirus pandemic that brought travel to a virtual halt. Canada's largest carrier also said it now expects second-quarter capacity to fall by 85% to 90% compared to a year earlier. The company reported an adjusted net loss of C$392 million ($277.97 million), or C$1.49 per share, in the first quarter ended March 31, compared with a profit of C$17 million, or 6 Canadian cents per share, a year earlier. |
35196.0 | 2020-05-01 00:00:00 UTC | EXCLUSIVE-Air Canada's Transat buyout fuels investor coronavirus jitters -sources | AC | https://www.nasdaq.com/articles/exclusive-air-canadas-transat-buyout-fuels-investor-coronavirus-jitters-sources-2020-05-01 | nan | nan | By Anirban Sen and Allison Lampert
May 1 (Reuters) - Air Canada's AC.TO C$720 million ($517 million) purchase of tour operator Transat AT TRZ.TO is fuelling jitters among some investors who would like to see the deal renegotiated with the aviation industry in turmoil due to COVID-19, two sources familiar with the matter told Reuters.
Air Canada secured Transat shareholders' approval for the deal last year with a sweetened C$18.00 a share bid, to bolster its leisure business. On Friday, Transat shares were trading 44% below AC's offer price.
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.
"There is no way the deal should proceed as structured," said Norman Levine, managing director of Portfolio Management Corporation, who does not own either of the two stocks.
"The whole world has changed in the airline/travel business and valuations from when the deal was announced to today bear no resemblance to each other," he added.
The turmoil has also given Air Canada reasons to weigh its options.
"All options are on the table - the board is still deciding on what's the best way forward," one of the sources said.
The sources declined to be identified as the discussions are confidential.
Neither company would comment directly on possible investor jitters over the deal.
In an email, Air Canada said its priority is "looking after our employees and our customers as well as implementing cost saving steps to conserve cash during the crisis."
Transat said "any major change regarding the transaction that we would be aware of would be communicated promptly to the market."
The global pandemic has torpedoed several proposed mergers and acquisitions, including aircraft and industrial parts maker Woodward Inc's WWD.O deal to buy Hexcel Corp HXL.N.
But it is not clear whether Air Canada could walk away from the transaction even if it wanted to, as the deal's material adverse effect (MAE) clause has exceptions including "natural disasters ... outbreaks of disease," according to the agreement.
Still, Air Canada's chief financial officer, Michael Rousseau, has told recent virtual events that AC may be able to invoke the MAE clause if Transat were disproportionately impacted by coronavirus, a third source said.
Air Canada did not comment when specifically asked about the CFO's remark.
"They haven't defined what 'disproportionate' means, but if it's a significant enough gap to be considered disproportionate then they would have an option to back out," said Scotiabank analyst Konark Gupta.
The transaction still requires approval of Canada's Transport minister, Marc Garneau, though the nation's competition regulator has voiced concern. European Union antitrust regulators are scheduled to decide on an agreement by May 25.
Greg Taylor, a portfolio manager at Purpose Investments, who has a short position on Air Canada for a short-term trade, said the airline "went into this with one of the better balance sheets in the airline industry, so any way they can save cash and not pay it out would be a positive."
"I just don't think they need any more capacity more than anything else."
($1 = 1.3917 Canadian dollars)
(Reporting by Anirban Sen in Bengaluru and Allison Lampert in Montreal; Additional reporting by Fergal Smith in Toronto and Foo Yun Chee in Brussels; Editing by Denny Thomas and Matthew Lewis)
((Allison.Lampert@thomsonreuters.com +1 514 796-4212 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. | The global pandemic has torpedoed several proposed mergers and acquisitions, including aircraft and industrial parts maker Woodward Inc's WWD.O deal to buy Hexcel Corp HXL.N. But it is not clear whether Air Canada could walk away from the transaction even if it wanted to, as the deal's material adverse effect (MAE) clause has exceptions including "natural disasters ... outbreaks of disease," according to the agreement. Still, Air Canada's chief financial officer, Michael Rousseau, has told recent virtual events that AC may be able to invoke the MAE clause if Transat were disproportionately impacted by coronavirus, a third source said. | By Anirban Sen and Allison Lampert May 1 (Reuters) - Air Canada's AC.TO C$720 million ($517 million) purchase of tour operator Transat AT TRZ.TO is fuelling jitters among some investors who would like to see the deal renegotiated with the aviation industry in turmoil due to COVID-19, two sources familiar with the matter told Reuters. On Friday, Transat shares were trading 44% below AC's offer price. "The whole world has changed in the airline/travel business and valuations from when the deal was announced to today bear no resemblance to each other," he added. | By Anirban Sen and Allison Lampert May 1 (Reuters) - Air Canada's AC.TO C$720 million ($517 million) purchase of tour operator Transat AT TRZ.TO is fuelling jitters among some investors who would like to see the deal renegotiated with the aviation industry in turmoil due to COVID-19, two sources familiar with the matter told Reuters. But it is not clear whether Air Canada could walk away from the transaction even if it wanted to, as the deal's material adverse effect (MAE) clause has exceptions including "natural disasters ... outbreaks of disease," according to the agreement. Still, Air Canada's chief financial officer, Michael Rousseau, has told recent virtual events that AC may be able to invoke the MAE clause if Transat were disproportionately impacted by coronavirus, a third source said. | By Anirban Sen and Allison Lampert May 1 (Reuters) - Air Canada's AC.TO C$720 million ($517 million) purchase of tour operator Transat AT TRZ.TO is fuelling jitters among some investors who would like to see the deal renegotiated with the aviation industry in turmoil due to COVID-19, two sources familiar with the matter told Reuters. On Friday, Transat shares were trading 44% below AC's offer price. "The whole world has changed in the airline/travel business and valuations from when the deal was announced to today bear no resemblance to each other," he added. |
35197.0 | 2020-04-17 00:00:00 UTC | Canada requires air passengers to wear masks to curb coronavirus | AC | https://www.nasdaq.com/articles/canada-requires-air-passengers-to-wear-masks-to-curb-coronavirus-2020-04-17 | nan | nan | MONTREAL, April 17 (Reuters) - Transport Canada said on Friday that all airline passengers would be required to wear a non-medical mask or face covering during travel to curb the spread of coronavirus.
The regulator said travellers must cover their mouth and nose during the boarding process and flights. The rule goes into effect at noon ET on Monday.
Air Canada AC.TO, the country's largest carrier, had previously recommended that customers wear a face-covering over their mouth and noses while onboard its flights.
The carrier said in a statement that passengers may bring their own face covering, which may include a cloth mask, scarf or similar item. It added they would be asked to lower their masks for security checks.
The spread of coronavirus has grounded commercial flights all over the world. The number of deaths worldwide linked to the novel coronavirus reached 150,000 on Friday, according to a Reuters tally.
(Reporting by Allison Lampert; Editing by Sandra Maler)
((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. | MONTREAL, April 17 (Reuters) - Transport Canada said on Friday that all airline passengers would be required to wear a non-medical mask or face covering during travel to curb the spread of coronavirus. Air Canada AC.TO, the country's largest carrier, had previously recommended that customers wear a face-covering over their mouth and noses while onboard its flights. The carrier said in a statement that passengers may bring their own face covering, which may include a cloth mask, scarf or similar item. | MONTREAL, April 17 (Reuters) - Transport Canada said on Friday that all airline passengers would be required to wear a non-medical mask or face covering during travel to curb the spread of coronavirus. The carrier said in a statement that passengers may bring their own face covering, which may include a cloth mask, scarf or similar item. Air Canada AC.TO, the country's largest carrier, had previously recommended that customers wear a face-covering over their mouth and noses while onboard its flights. | MONTREAL, April 17 (Reuters) - Transport Canada said on Friday that all airline passengers would be required to wear a non-medical mask or face covering during travel to curb the spread of coronavirus. Air Canada AC.TO, the country's largest carrier, had previously recommended that customers wear a face-covering over their mouth and noses while onboard its flights. The carrier said in a statement that passengers may bring their own face covering, which may include a cloth mask, scarf or similar item. | MONTREAL, April 17 (Reuters) - Transport Canada said on Friday that all airline passengers would be required to wear a non-medical mask or face covering during travel to curb the spread of coronavirus. Air Canada AC.TO, the country's largest carrier, had previously recommended that customers wear a face-covering over their mouth and noses while onboard its flights. The carrier said in a statement that passengers may bring their own face covering, which may include a cloth mask, scarf or similar item. |
35198.0 | 2020-04-17 00:00:00 UTC | Canada to announce measures to aid hard-hit energy sector -CBC TV | AC | https://www.nasdaq.com/articles/canada-to-announce-measures-to-aid-hard-hit-energy-sector-cbc-tv-2020-04-17 | nan | nan | Adds sources on possible airline aid
OTTAWA, April 17 (Reuters) - The Canadian government is set on Friday to announce long-awaited measures to help the oil and gas industry, which has been hard hit by low prices and the coronavirus outbreak, the Canadian Broadcasting Corp. said.
The CBC did not give details. Prime Minister Justin Trudeau is due to hold a regular media briefing at 11:15 a.m. Eastern Time (1515 GMT).
Canadian oil and gas companies are urging Ottawa to free up credit and cash. Finance Minister Bill Morneau said on March 18 that some measures were imminent, but Ottawa has remained silent despite pressure from the energy-rich province of Alberta.
A spokesman for Morneau declined to comment. Spokespeople for Trudeau did not respond to requests for comment.
Government sources have already said measures could include increased credit for energy firms, as well as money to help clean up orphaned oil wells.
An Alberta source said on Thursday the province expected that when Ottawa did make an announcement, it would be about orphan wells and aid to medium-sized firms. The source requested anonymity given the sensitivity of the situation.
Alberta Premier Jason Kenney said last week the province's energy sector needed up to C$30 billion ($21.4 billion) in liquidity.
Ottawa has also promised aid to the airline and tourism sectors.
Canadian finance ministry officials told unions representing airline workers on Wednesday they are mulling whether to provide low-interest repayable loans to companies, said two sources familiar with the matter.
($1=1.4042 Canadian dollars)
(Reporting by David Ljunggren in Ottawa and Allison Lampert in Montreal; Editing by Dan Grebler)
((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.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. | Finance Minister Bill Morneau said on March 18 that some measures were imminent, but Ottawa has remained silent despite pressure from the energy-rich province of Alberta. An Alberta source said on Thursday the province expected that when Ottawa did make an announcement, it would be about orphan wells and aid to medium-sized firms. Canadian finance ministry officials told unions representing airline workers on Wednesday they are mulling whether to provide low-interest repayable loans to companies, said two sources familiar with the matter. | Adds sources on possible airline aid OTTAWA, April 17 (Reuters) - The Canadian government is set on Friday to announce long-awaited measures to help the oil and gas industry, which has been hard hit by low prices and the coronavirus outbreak, the Canadian Broadcasting Corp. said. Canadian oil and gas companies are urging Ottawa to free up credit and cash. Government sources have already said measures could include increased credit for energy firms, as well as money to help clean up orphaned oil wells. | Adds sources on possible airline aid OTTAWA, April 17 (Reuters) - The Canadian government is set on Friday to announce long-awaited measures to help the oil and gas industry, which has been hard hit by low prices and the coronavirus outbreak, the Canadian Broadcasting Corp. said. Finance Minister Bill Morneau said on March 18 that some measures were imminent, but Ottawa has remained silent despite pressure from the energy-rich province of Alberta. An Alberta source said on Thursday the province expected that when Ottawa did make an announcement, it would be about orphan wells and aid to medium-sized firms. | Adds sources on possible airline aid OTTAWA, April 17 (Reuters) - The Canadian government is set on Friday to announce long-awaited measures to help the oil and gas industry, which has been hard hit by low prices and the coronavirus outbreak, the Canadian Broadcasting Corp. said. Spokespeople for Trudeau did not respond to requests for comment. An Alberta source said on Thursday the province expected that when Ottawa did make an announcement, it would be about orphan wells and aid to medium-sized firms. |
35199.0 | 2020-04-17 00:00:00 UTC | TSX futures gain on U.S. plans to reopen economy, potential COVID-19 drug | AC | https://www.nasdaq.com/articles/tsx-futures-gain-on-u.s.-plans-to-reopen-economy-potential-covid-19-drug-2020-04-17 | nan | nan | April 17 (Reuters) - Canada's main stock index futures rose on Friday on U.S. President Donald Trump's plan to gradually reopen the country's economy and as reports of a potential drug to treat COVID-19 boosted investor sentiment, lifting stock markets across the world.
June futures on the S&P/TSX index SXFc1 were up 2.28% at 7:00 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.42% lower at 13,899.32 on Thursday.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 3.34% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 3.09% and Nasdaq 100 e-mini futures NQc1 were up 2.33%. .N
TOP STORIES TOP/CAN
Newmont Corp NGT.TO is looking to restart some of its Canadian and South American gold mines shut last month to curb the spread of the new coronavirus, Chief Executive Tom Parker said on Friday.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Air Canada AC.TO: National Bank of Canada cuts to "sector perform" from "outperform"
Maple Leaf Foods Inc MFI.TO: Berenberg raises target price to C$27 from C$25
Uni-Select Inc UNS.TO: National Bank of Canada raises to "sector perform" from "underperform"
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1,696; -1.55% GOL/
US crude CLc1: $18.6; -6.39% O/R
Brent crude LCOc1: $28.52; +2.52% O/R
U.S. ECONOMIC DATA DUE ON FRIDAY
1000 (approx.) Leading index change mm for Mar: Expected -7.0%; Prior 0.1%
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$1.40)
(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Vinay Dwivedi)
((Samrhitha.A@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 17 (Reuters) - Canada's main stock index futures rose on Friday on U.S. President Donald Trump's plan to gradually reopen the country's economy and as reports of a potential drug to treat COVID-19 boosted investor sentiment, lifting stock markets across the world. Air Canada AC.TO: National Bank of Canada cuts to "sector perform" from "outperform" Maple Leaf Foods Inc MFI.TO: Berenberg raises target price to C$27 from C$25 Uni-Select Inc UNS.TO: National Bank of Canada raises to "sector perform" from "underperform" COMMODITIES AT 7:00 a.m. The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.42% lower at 13,899.32 on Thursday. | April 17 (Reuters) - Canada's main stock index futures rose on Friday on U.S. President Donald Trump's plan to gradually reopen the country's economy and as reports of a potential drug to treat COVID-19 boosted investor sentiment, lifting stock markets across the world. Air Canada AC.TO: National Bank of Canada cuts to "sector perform" from "outperform" Maple Leaf Foods Inc MFI.TO: Berenberg raises target price to C$27 from C$25 Uni-Select Inc UNS.TO: National Bank of Canada raises to "sector perform" from "underperform" COMMODITIES AT 7:00 a.m. TSX market report .TO Canadian dollar and bonds report CAD/CA/ Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA Canadian markets directory CANADA | April 17 (Reuters) - Canada's main stock index futures rose on Friday on U.S. President Donald Trump's plan to gradually reopen the country's economy and as reports of a potential drug to treat COVID-19 boosted investor sentiment, lifting stock markets across the world. Air Canada AC.TO: National Bank of Canada cuts to "sector perform" from "outperform" Maple Leaf Foods Inc MFI.TO: Berenberg raises target price to C$27 from C$25 Uni-Select Inc UNS.TO: National Bank of Canada raises to "sector perform" from "underperform" COMMODITIES AT 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 3.09% and Nasdaq 100 e-mini futures NQc1 were up 2.33%. | April 17 (Reuters) - Canada's main stock index futures rose on Friday on U.S. President Donald Trump's plan to gradually reopen the country's economy and as reports of a potential drug to treat COVID-19 boosted investor sentiment, lifting stock markets across the world. Air Canada AC.TO: National Bank of Canada cuts to "sector perform" from "outperform" Maple Leaf Foods Inc MFI.TO: Berenberg raises target price to C$27 from C$25 Uni-Select Inc UNS.TO: National Bank of Canada raises to "sector perform" from "underperform" COMMODITIES AT 7:00 a.m. The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.42% lower at 13,899.32 on Thursday. |
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