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Msg  68651 of 68989  at  11/30/2020 12:00:41 PM  by

Gammafriend


Morning News Call TD


 

CANADA EDITION

 

MONDAY, NOVEMBER 30, 2020

 


TOP NEWS
• S&P Global to buy IHS Markit in deal valued at $44 billion
Data giant S&P Global has agreed to buy IHS Markit in a deal worth $44 billion that will be 2020's biggest merger, creating a heavyweight in the increasingly competitive market in financial information.

• OPEC+ to discuss extending oil cuts or gradually raising output, sources say
OPEC+ members will consider whether to extend existing oil cuts for three to four months or to increase output gradually from January during their two days of talks that start on Monday, OPEC+ sources told Reuters.

• Amid surging second coronavirus wave, Canada to unveil more spending
Canada will unveil new spending plans and detail the cost of its emergency support measures as a harsh second wave of COVID-19 infections forces renewed health restrictions across the country.

• Canadian pension funds, insurers seeking private debt face shrinking pool of lower-risk firms
Canadian pension funds and insurers are facing a shrinking universe of higher-quality private debt investments to lift returns in a low-yield world, as the coronavirus pandemic has crushed many businesses, while banks maintain lending to better ones.

• Canadian security firm GardaWorld extends offer for larger British rival G4S
Canadian security firm GardaWorld said it has further extended its cash offer for larger rival G4S, which has repeatedly rejected the hostile bid valuing the British company at about 3 billion pounds.​


BEFORE THE BELL
Canada’s main stock index futures dropped, as oil prices tumbled on uncertainty about whether OPEC+ would agree to extend output cuts at talks this week. The U.S. dollar edged lower and gold extended its slide as prospects of vaccine-led economic recovery dented safe-haven bets. Futures for Wall Street’s major stock indexes fell, after Nasdaq witnessed a record closing high in the previous session, as investors looked to book profits. Asian equities dropped on selling pressure and month-end adjustments. European shares were muted, with focus set on Brexit negotiations.​


STOCKS TO WATCH
• TC Energy Corp (TRP). TC Energy's sale of a C$1 billion stake in Keystone XL (KXL) to a Canadian indigenous group is the result of over three years of pressure from a tiny Saskatchewan First Nation that demanded part ownership of the long-delayed oil pipeline, rather than short-term payments for allowing it to be built through its lands. Adding indigenous support may help efforts by Canada and TC to convince U.S. President-elect Joe Biden not to revoke the permit of the $8-billion Keystone XL when he takes office as he has promised. If they are successful, millions of dollars will flow over a generation into indigenous communities to help youth afford university or pay for business investments, said Chief Alvin Francis of Nekaneet First Nation in Saskatchewan, one of five involved in NLE.


POLL
Oil prices face uphill struggle in 2021 despite vaccine progress
Oil prices will struggle to gain upward traction next year as demand remains in the grip of the coronavirus pandemic despite growing optimism over vaccines and a likely extension of output cuts by top producers, a Reuters poll showed. The poll of 40 economists and analysts forecast Brent would average $49.35 a barrel next year, little changed from last month's $49.76 outlook. The benchmark has averaged about $42.50 per barrel so far in 2020.


ANALYSTS' RECOMMENDATION
• Lightspeed POS Inc (LSPD). BTIG cuts rating to neutral from buy, believing the company’s current valuation is fair inasmuch as it reflects much of the upside from the acceleration in demand for its cloud-based point-of-sale offerings and the rollout of its payments module.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 Building permits mm for Oct: Prior 17.0%
0830 Current Account for Q3: Prior -C$8.63 bln
0830 Producer prices mm for Oct: Prior -0.1%
0830 Producer prices yy for Oct: Prior -2.2%
0830 Raw materials prices mm for Oct: Prior -2.2%
0830 Raw materials prices yy for Oct: Prior -9.4%​


COMPANIES REPORTING RESULTS
November 30:
Assure Holdings Corp (IOM). Expected Q3 earnings of 2 Canadian cents per share
OrganiGram Holdings Inc (OGI). Expected Q4 loss of 3 Canadian cents per share
Pharmacielo Ltd (PCLO). Expected Q3 earnings of 1 Canadian cent per share
Skylight Health Group Inc (SHG). Expected Q3 loss of 1 Canadian cent per share
Slang Worldwide Inc (SLNG). Expected Q3 earnings of breakeven per share
VIQ Solutions Inc (VQS). Expected Q3 loss of 8 cents per share

December 01:
Bank of Montreal 
(BMO). Expected Q4 earnings of  C$1.90 per share
Bank of Nova Scotia (BNS). Expected Q4 earnings of C$1.22 per share​


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 OrganiGram Holdings Inc (OGI). Q4 earnings conference call
0800 Pharmacielo Ltd (PCLO). Q3 earnings conference call
1000 Slang Worldwide Inc (SLNG). Q3 earnings conference call
1700 4Front Ventures Corp (FFNT). Q3 earnings conference call
1730 Assure Holdings Corp (IOM). Q3 earnings conference call​


EX-DIVIDENDS
High Liner Foods Inc (HLF). Amount C$0.07
Husky Energy Inc (HSE). Amount C$0.01
Jamieson Wellness Inc (JWEL). Amount C$0.12
Norbord Inc (OSB). Amount C$0.60
Stella-Jones Inc (SJ). Amount C$0.15
TransAlta Corp (TA). Amount C$0.04


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


 


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