Investing.com — Canada’s main stock index, the S&P/TSX Composite index traded flat by mid-afternoon on Tuesday, as market sentiment remains cautious ahead of key economic data this week in both the U.S. and Canada.
Wall Street meanwhile traded on a mixed note, as traders await the release of the PCE price index, the Fed’s preferred measure of inflation, on Thursday. Thursday will also see the release of Canadian GDP data.
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Toronto Stock Market News
Bank of Nova Scotia reported stronger-than-expected first-quarter earnings, boosted by its Canadian and international banking operations, even as provisions for credit losses rose. Scotiabank (TSX:BNS) recorded an income of $2.17 billion, or $1.68 a share, versus $1.72 billion, or $1.35, a year earlier. On an adjusted basis earnings were $1.69 a share, beating estimates for $1.61 forecast by analysts. Revenue for the three-month period totalled $8.43 billion, up from $7.96 billion in its first quarter last year.
Bank of Montreal (TSX:BMO) reported disappointing first-quarter results today, with its commercial banking in North America, capital markets, and corporate services under pressure from what chief executive Darryl White characterized as “constrained revenue growth in market-sensitive businesses.” The bank's net income totalled $1.29 billion, up from $133 million a year earlier. On an adjusted basis, profit of $2.56 per share, well below the $3.02 per share analysts had expected, and down from $3.06 per share a year ago. Overall revenue totalled $7.67 billion for the quarter, up from $5.10 billion. On an adjusted basis.
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In Canadian Economics
No major Canadian economic data due today.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.