Tuesday , November 24 2020

Before the Bell: What do all Canadian investors need to know today



The future of Wall Street extends higher on early Thursday on further suggestions that trade tensions between the US and China facilitate. The world's stock rose for a third session as the European Central Bank is still consistent and confirms the end of its quantitative mitigation program. In this country, Bay Street's future has risen up with crude prices relatively stable following figures showing lists in the United States last week.

Large markets in Europe began the mixed day in front of the ECB decision. Asia markets finished higher after a positive day on Wall Street on Tuesday. Trade remains at the forefront. Reuters reports that companies that belong to the Chinese state have bought more than 1.5 million tonnes of soybeans, marking the first first purchase in six months helping to stimulate a feeling. The purchases and support positive developments are seen early this month when President of the U.S. Donald Trump with Chinese leader Xi Jinping and hit a 90-day trade cut.

"Reports that China do well on promises made with Trump in the G20 help markets to become slowly pessimistic over U..S – Sino Connections," said Jasper Lawler, head of research at London Capital Group . "And that's increasing expectations of a commercial bargain is reached within the 90-day time frame."

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Still, he says, investors are still warnings because they "have seen an increase before only contacts will suddenly go to worsen. This warning is reflected in a mixed start to Europe on After the US markets closed positively, but quite behind them, "he said.

At the ECB, the central bank, as expected, said that it will end its program of emergency bond bonds at the end of this month, but it will continue to reinvest money from mature bonds "for an extended period past; The date it starts to raise the key ECB interest rates, and in any case as long as it is necessary. "The bank launched its quantitative facilitation program four years ago to support economic growth in the eurozone and stronger inflation . The ECB also keeps its key rate on hold and said that it expects that the key ECB interest rates "will remain at their current levels at least by summer 2019."

On Bay Street, investors get a handful of earnings. Sobeys-owner Empire Co Ltd reported its latest results before starting trading. In the last quarter, the grocer reported that earnings have to be adjusted by a proportion of 40 cents of 27 cents a year earlier. The quarterly forecasts of quarterly analysts, which called for earnings adapted per share of about 32 cents. Sales of the same store – excluding fuel sales – rose by 2.5 per cent. With the exception of pharmacy sales, one storey sales rose by 3 per cent.

Davidstea Inc. a Transat AT Inc. also report.

Wall Street will win after-hours earnings of Costco Wholesale and Adobe Systems Inc.

European, overseas European markets were mixed with European European bats STOXX 600 down 0.05 percent. FTSE 100 Britain is slid 0.14 per cent. DAX of Germany rose 0.23 per cent and France CAC added 0.04 per cent.

In Asia, markets had finished higher on relieving trade concerns. Composite Index rose 1.23 per cent. Hang Seng Hong Kong won 1.29 percent. In Japan, the Nikkei added 0.99 percent.

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Goods

Raw prices have not changed slightly before the North America opened with a report showing the withdrawal of the U.S. lists. helps outweigh global concerns about market oversight. Brent's crude was trading in a day range from US $ 59.70 to US $ 60.59. The range at West Texas Intermediate was $ 50.78 to US $ 51.57.

The figures released on Tuesday by the U.S. Energy Information Ministry reduce 1.2 million barrels last week. That was lower than market expectations, which had called for a reduction of 3 million barrels, but also brought on a similar report heels from the American Petroleum Institute earlier in the week which also showed a pull in back in lists.

In the meantime, the Paris-based International Energy Agency predicts that world's raw supplies could move to a deficit faster than expected, with the help of a proposed production cut by OPEC and & # 39; to allies as well as a decision by Alberta to reduce output in the new year. In a previous report, the IEA said that he expects the world's oil market to continue to be remainder by much next year. However, in its latest report, the agency says that it is now expecting a second quarter deficit, if OPEC still has an agreement to cut production by 1.2 million banned per day.

"Oil prices have been steady overnight, under pressure from high stocks, but with backing support in raw stock lists in the US and on signs that the Sino-U.S. trade war could be convenient," said Dean Popplewell, analyst OANDA. "The global supply of black stuff has outweighed the demand over the last two quarters, incorporating lists and pushing raw prices to a minimum level in 12 months at the end of November . "

In other goods, gold prices slipped as the US dollar rises and stocked the world rises. Place gold has reduced 0.3 percent to US $ 1,241.50 by mid-morning in Europe, while the US gold future drops 0.3 per cent at US $ 1,245.80 each.

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"With the equity conflicts this week, gold has fallen a bit in favor of traders to abolish their safe bets," said Forex.com, Fawad Razaqzada, told Reuters.

Money prices also dropped moderately while platinum prices increased higher.

Currency currency

Canada's dollar was slightly weaker as its U.S. counterparts. fixed against a basket of world money. The daytime on the loonie so far is 74.79 cents from US to 74.94 cents in the United States. Last week, Loonie reached its lowest level in 18 months after Bank of Canada suggested that interest rates would not increase as soon as the markets expected in the new year. However, this week, the Canadian dollar has seen some support from more robust inappropriate prices. Elsa Lignos, the global head of FX, the FX strategy, said in an early note that rally in equity markets has helped boost power.

In other currencies, the US dollar index was 0.1% at 96.945. The euro was slightly higher after Italy said it would break its budget spending plans, going out to see the European Union. The euro rose 0.2 per cent to US $ 1.1394. The individual currency has traded to a large extent in the US $ 1.16 range and US $ 1.12 since August, according to Reuters figures.

"Despite the fact that markets have prized much in the way of ECB hikes in recent weeks, recent comments from [ECB chief economist] Peter Praet and President Draghi suggest that the ECB is ready to look through & # 39; said the wound of the eurozone growth in C3, "said Ms. Lignos." The ECB continues to make sure that the durability of domestic demand means that the eurozone should be able to generate growth around the trend over the next years, is sufficient in the face of a tightening labor market to justify the normalization of policy. "

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The British pound joined a confidence vote for Prime Minister Theresa May but held relatively steady after she won the ballot and moved in a pretty narrow edge following the victory as there was a strong opposition to & The brexit agreement continues.

In bonds, the product on the US 10 year note was lower at 2.897 per cent. The product on the 30 year note was also lower at 3.14 per cent.

Stocks set to see actions

AltaGas Ltd broke his annual dividend and said he would sell his indirect share in hydroelectric projects in the North East of British Columbia for around C1.39 billion. The company's plan to sell the 55 per cent interest follows the 35 percent sales in the facilities for $ 922 million in June to fund the acquisition of WGL Holdings in the United States Inc. Cutting AltaGas its annual share by 56 percent to 96 cents per common share.

Apple Inc said on Thursday that he would invest US $ 1 billion to build a second campus in North Austin, Tex., and another $ 10 billion for new data centers over the next five years, as it aims to create 20,000 jobs in the United States.

Soda can maker Corp Corp He said he would sell his drink packaging facilities in China for around US $ 225 million. A Ball, who makes cans for Coca-Cola Co and Molson Coors Brewing Co., intends to sell the facilities to China's metal packing company ORG Technology Co.

Opponents of Enbridge EnergyThe replacement of a proposed Line 3 crude oil pipe may turn their attention to fighting the project on other sides as the Minnesota regulatory panel is preparing to take one of the last steps to enable. The Public Utilities Commission on Thursday had arranged to discuss petitions by environmental and trolleys groups to the panel to reconsider its decision in June to approve a route license for the line across northern Minnesota. Those objectors acknowledge that they do not have much hope, given that the commission earlier this month refuses their petitions quickly and unanimously to reconsider the project's certificate of need.

Councilors in Toronto will discuss whether to allow retail pot stores in the largest Canadian city. City staff recommend that councilors allow private-run cannabis shops to operate in Toronto, saying "would have an unintended result of encouraging the illegal market." The matter is on the council meeting agenda today, a day after councilors in two neighboring county boroughs voted against having pot stores within their borders. Councilors in Mississauga and Markham voted on Wednesday not to hold privately operated retail cannabis shops, and are expected to open across Ontario next spring. On Wednesday, Mississauga and Markham became the latest cities in Ontario to stop cannabis retail stores.

Bombardier Inc.The Chinese joint venture said Thursday had won a $ 453 million contract to supply 168 fast train cars to China Railway Line (CRC). The prize comes the day after she lost a $ 989 million rail order in Canada when Via Rail Germany Siemens AG chose to supply new locomotives. The Chinese joint venture, Bombardier Sifang (Qingdao) Transportation Ltd (BST), is owned by the Chinese locomotive company CRRC Sifang Locomotive & Rolling Stock Co. Ltd.

Cannabis Aurora Inc has signed an agreement to invest $ 10 million at High Tide Inc., a private company with cannabis shops and cannabis retail stores. Under the agreement, Aurora will hold debentures that will hold an annual interest rate of 8.5 per cent. The debentures will also be converted to High Tide shares at a price of 75 cents per share.

United States Transporter Delta Air Lines Inc predicts a reduction in US $ 300 million fuel costs for 2019 and said that he expected that there would be a demand for solid air travel to boost profit for the year. Delta sees 2019 profits between US $ 6 and $ 7 per share. At the top of that range, it would be a 25 per cent increase over what analysts expect for 2018, according to IBES data by Refinitiv.

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Economic news

Initial claims for US unemployment benefits in the United States have dropped 27,000 to 206,000 on seasonal adjustments for the week ending December 8, the US Labor Department said. The last fall in claims last week was the largest since April 2015. Claims hit 202,000 in mid-September, which is the lowest level since December 1969.

With Reuters and The Canadian Press


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