TOP NEWS • Canada's Alberta province brings in vaccine passport as Premier apologises The Canadian province of Alberta introduced a vaccine passport system on Wednesday to combat a fourth wave of COVID-19 that is close to overwhelming the healthcare system, as Premier Jason Kenney apologised for mishandling the pandemic.
• Court win for EU regulators over crackdown on $825 million Belgium tax scheme EU competition regulators secured a big win when Europe's top court backed their crackdown on Belgium's $825-million tax scheme for Magnetrol, BP and more than 30 other multinationals.
• Philip Morris seals deal for UK's Vectura despite health group concerns Cigarette maker Philip Morris clinched its 1.1 billion-pound takeover of asthma inhaler maker Vectura, winning the support of the British company's shareholders despite the concerns of health professionals.
• Amazon to more than double payroll in Spain to 25,000 by 2025 Online retail giant Amazon will more than double its payroll in Spain to 25,000 workers by 2025 from 12,000 last year, Mariangela Marseglia, Amazon's vice president and general manager for Spain and Italy, said.
• Ryanair lifts growth target, says no need for new Boeing order Ryanair hiked its five-year passenger forecast, saying the delivery of an existing Boeing order and increased use of older planes would allow it to grow faster without the need for an additional large deal.
BEFORE THE BELL Canada's main stock index futures fell, weighed by weakness in gold prices and as concerns about a stunted global economic recovery hurt sentiment. Wall Street futures were slightly lower after a strong rally in the previous session, with investors awaiting jobless claims and retail sales data later in the day for a better reading on the economic recovery. European shares were up, supported by a rebound in travel stocks. Asian equities ended mostly in the red. The dollar index was in the positive territory. Oil was down as energy companies resumed recovery efforts in the U.S. Gulf Coast after Hurricane Nicholas.
INSIGHT Investors tense up as fears of post-election gridlock rise in Canada Foreign investors are growing more worried that Canada's federal election on Monday could result in a deadlock that hampers Ottawa's response to the COVID-19 pandemic and further slows the economic recovery from the crisis.
ANALYSTS' RECOMMENDATION • Aya Gold & Silver Inc: National Bank of Canada resumes coverage with outperform rating; price target of C$13.25, saying the company’s equity raise offers a material step toward de-risking funding of Zgounder expansion.
• Canadian National Railway Co: National Bank of Canada raises price target to C$144 from C$139 after the company formally abandoned its pursuit of Kansas City Southern.
ECONOMIC EVENTS (All timings in U.S. Eastern Time) 0815 (approx.) House starts, annualized for Aug: Expected 268,000; Prior 272,200 0830 (approx.) Securities Canadian for July: Prior C$28.10 bln 0830 (approx.) Securities Foreign for July: Prior C$19.63 bln 0830 (approx.) Wholesale Trade mm for July: Expected -2.0%; Prior -0.8%
COMPANIES REPORTING RESULTS September 16 & 17: No major companies are scheduled to report.
CORPORATE EVENTS (All timings in U.S. Eastern Time) 0930 Medexus Pharmaceuticals Inc: Annual Shareholders Meeting
EX-DIVIDENDS Canadian Natural Resources Ltd: Amount C$0.47 Constellation Software Inc: Amount $1.00 Hammond Power Solutions Inc: Amount C$0.08
(All analysts' estimates are according to I/B/E/S Refinitiv data) |