• 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.
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
• 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
BEFORE THE BELL
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 yields. Oil traded
higher, as investors remained optimistic about a rebound in the U.S. economy.
STOCKS TO WATCH
• 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
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.
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
ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1030 (approx.) Business outlook future sales for Q1: Prior 48%
COMPANIES REPORTING RESULTS
Aphria Inc: Expected Q3 loss of 4 Canadian cents per share
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)