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Msg  69455 of 69925  at  4/12/2021 9:59:26 AM  by


Morning News Call TD




MONDAY, APRIL 12, 2021


• White House seeks bipartisan infrastructure push; Republicans wary
President Joe Biden could find himself under pressure to prove his much-touted interest in working with Republicans in Congress, as lawmakers return from their spring break to grapple with his $2.3 trillion proposal to improve U.S. infrastructure.

• China's Ant Group to restructure under central bank agreement
Ant Group, the fintech affiliate of Alibaba, will restructure as a financial holding company, China's central bank said.

• In COVID-19 vaccination pivot, Canada targets frontline workers
Canada is shifting its vaccination campaign to target frontline workers, moving away from a largely age-based rollout as the country tries to get a handle on the raging third wave of the pandemic.

• HSBC and Huawei CFO reach agreement on document publication linked to extradition case
HSBC and Huawei' Chief Financial Officer Meng Wanzhou have reached an agreement in a dispute about the publication of documents relating to U.S. fraud allegations against her, their lawyers told a Hong Kong court.

• U.S., European consumers warm up to electric vehicles, but remain wary of price - survey
European and U.S. buyers are warming up to the idea of purchasing a battery-powered vehicle, but continue to have concerns over the price of the technology, a survey showed, underscoring the need for government subsidies to reach EV sales and environmental goals.


Futures for Canada's main stock index fell, weighed by weakness in gold prices. Wall Street futures were in red, as investors awaited earnings as well as inflation and retail sales data. European stocks eased from all-time highs ahead of the earnings season. Japan's  Nikkei ended lower, dragged down by lower-than expected earnings outlook by Yaskawa Electric. The U.S. dollar fell, with pullback in Treasury yieldsOil traded higher, as investors remained optimistic about a rebound in the U.S. economy. 

• Brookfield Asset Management Inc: Hammerson confirmed that it was in talks for a possible sale of its retail parks portfolio to Canadian private equity player Brookfield Asset Management, as the shopping centre operator tries to shore up its finances. The Sunday Times had reported Brookfield would pay Hammerson 350 million pounds for seven retail parks as part of the deal. The newspaper also reported that the disposed portfolio comprises retail parks in Falkirk, Didcot, Middlesbrough, St Helens, Telford, Merthyr Tydfil, and Rugby.

Canada's Telesat takes on Musk and Bezos in space race to provide fast broadband
Canada's Telesat is racing to launch a low-earth-orbit (LEO) satellite constellation to provide high-speed global broadband from space, pitting the satellite communications firm founded in 1969 against two trailblazing billionaires, Elon Musk and Jeff Bezos.

• Corus Entertainment Inc: Canaccord Genuity raises target price to C$7.50 from C$7, with steady climb in TV revenues, advertising and in-line second-quarter results. 

• MTY Food Group Inc: Scotiabank raises target price to C$57.50 from C$50, as the company generated strong free cash flow during the pandemic with expectations to resume M&A strategy in second-half of 2021. 

ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1030 (approx.) Business outlook future sales for Q1: Prior 48%

April 12:
Aphria Inc: Expected Q3 loss of 4 Canadian cents per share

April 13:
Cogeco Communications Inc: Expected Q2 earnings of C$2.03 per share
COGECO Inc: Expected Q2 earnings of C$1.97 per share
OrganiGram Holdings Inc: Expected Q2 loss of 3 Canadian cents per share
Score Media and Gaming Inc: Expected Q2 loss of 25 Canadian cents per share

CORPORATE EVENTS (All timings in U.S. Eastern Time)
0900 Aphria Inc: Q3 earnings conference call

There are no major ex-dividends for the day.

(All analysts' estimates are according to I/B/E/S Refinitiv data)

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