Business News
Agnico Eagle Stock Up 5.7%: Why AEM Jumped as Yields Fell
Agnico Eagle Mines (TSX: AEM) closed Thursday at $266.18 CAD, up 5.66%, the second largest single-stock contribution to the S&P/TSX Composite’s 1.55% gain. The company published nothing today; its September 28 notice sets third quarter results for October 28. Kinross did better, up 6.89% to $33.82 CAD, the clearest sign this was gold repricing, not a company story.
Wednesday at 8:30 a.m. ET the US Bureau of Labor Statistics said the all items index “increased 0.6 percent on a seasonally adjusted basis in September”, core up 0.3 percent. The Composite fell 1.11% that day, to 35,584.46 from 35,984.00. CPI was the trigger; our attribution of that decline put 70% of it on gold and copper falling together.
Read the full recap for October 15 →The gold sector fell 3.29% and materials 2.78%, against a composite down 0.76%.
Cameco (down 5.58%) and Celestica (down 5.51%) led the decliners, followed by the gold names Kinross, Wheaton and Franco-Nevada.
Among the large-cap movers that closed on August 28, nine fell and nine rose, an even split.
The Bank of Canada decides on September 2 at 9:45 am ET with the policy rate at 2.25%.
Aritzia is executing the US expansion everyone said was too expensive
Net revenue rose 43% to $951M with the United States carrying the growth, and comparable sales stayed positive while the boutique count climbed. The capital going into new stores is arriving as revenue rather than as a promise about next year.
BMO’s 24% earnings drop was a goodwill charge, not credit
Reported EPS fell 24% to $2.38 and return on equity to 8.4% from 11.6%, on a $962M goodwill charge BMO is selling, not on credit. Provisions actually fell, to $722M from $797M, and adjusted ROE was 14.0%.
Waste Connections Rose 5.3% Before Its Q3 Report. So Did Every Big Hauler.
Aritzia Q2 Earnings: Adjusted EPS Beats by 25% and the Full-Year Guide Goes Up Again
Aritzia Q2 Earnings: Guided 22% Growth Last Year, Delivered 35%
Tesla Stock Up 4.2%: Why TSLA Rose on a Q3 Delivery Beat
Lifetime Capital Gains Exemption: Miss the 90% Test by a Dollar and It Costs $303,240
Canadian Home Sales Fell 2.3% in September. The Posted Mortgage Rate Just Broke a 72-Week Freeze.
Stock Options and the Minimum Tax: The Full Add-Back Costs What a Capital Gain Costs
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