Published on 05/24/2023 at 17:37updated on 05/24/2023 at 18:28
(Illustration: Camille Charbonneau)
Canadian stocks fell after the country’s two main lenders reported disappointing quarterly earnings, while uncertainty over the US debt deal also weighed on investor sentiment.
“Bank profits reflect the general slowdown in business. We are seeing a slowdown in the Canadian economy and the US economy, which obviously affects our banks,” said Allan Small, senior investment advisor at Allan Small Financial Group.
To monitor
The Royal Bank of Canada (RY) is due to release its second quarter results. Canada’s largest lender is expected to post lower earnings as higher provisions for loan losses, particularly in the commercial real estate portfolio, offset higher interest income.
The Banque Toronto-Dominion (TD) is expected to report an increase in its quarterly profit, thanks to strong growth in its personal and commercial banking business and rising interest rates which should continue to benefit the lender.
Here are the winners and losers for May 24, 2023:
| The S&P/TSX index of the TSE | Prix | Change in Canadian dollars | % change |
| Winners | |||
|
Pason Systems |
12,09 | 0,26 | 2,20 |
|
Advantage Energy |
7,78 | 0,14 | 1,83 |
| losers | |||
|
Filo Mining |
21,02 | -1,88 | -8,21 |
|
Dye & Durham |
15,06 | -1,33 | -8,11 |
2023-05-25 03:01:17
#Stock #market #todays #winners #losers
