Futures for equities in Canada’s largest market rose on Tuesday, as a third promising COVID-19 vaccine spurred hopes of a quicker economic recovery and pushed up oil prices to its highest since March.

The TSX gained 75.43 points to close Monday at 17,094.53.

The Canadian dollar raised itself 0.13 cents Tuesday at 76.62 cents U.S.

December futures added 0.6% Tuesday.

RBC raised the target price on Canadian Pacific Railway to $506.00 from $451.00

Jefferies raised the target price on First Quantum Minerals to $33.00 from $20.00

Jefferies raised the target price on Sierra Metals to $4.00 from $2.75


The TSX Venture Exchange finished 3.24 points in the green Monday at 743.69.


U.S. stock futures climbed early Tuesday in relief over the Trump administration’s move to begin the transition process.

Futures for the Dow Jones Industrials sprang 303 points, or 1%, to 29,843.

Futures for the S&P … Read the rest

Boeing’s share price rose more than 4% in pre-market trading after European aviation regulators signaled an imminent return to the skies for the currently-grounded 737 Max.

On Tuesday morning the EU Aviation Safety Agency (EASA) published its draft approval for an end to the aircraft’s forced hiatus, which has lasted nearly two years—the 737 Max was grounded worldwide in 2019 following a pair of crashes that killed hundreds of people.

The move is now subject to a 28-day consultation period, meaning the plane could be formally ungrounded in mid-January. However, EASA first wants changes made to the aircraft that are mostly in line with those demanded last week by the U.S. Federal Aviation Administration (FAA).

The FAA also cleared the Boeing aircraft for service, leaving China’s aviation authority as the big hold-out on that front.

“Objective and independent”

“EASA made clear from the outset that we would conduct our own … Read the rest

Cineworld, the world’s second-largest movie chain operator, has secured financial lifelines worth $750m (£560m) to weather the coronavirus pandemic.

London-listed Cineworld, which shut all of its 660 movie theatres in the US and the UK in October, said the financial agreements mean it has enough liquidity to make it through next year – as long as cinemas are allowed to reopen by May.

The company has agreed financial measures with lenders including a new $450m debt facility. Other agreements include a waiver on all covenants on payments on its debt – which stands at $4.9bn – until June 2022 and an extension on its $111m revolving credit facility to 2024. In addition, Cineworld has accelerated the closure of its US tax year which will generate a $200m tax refund early next year.

“The measures we are announcing today deliver over $750m of extra liquidity to support our business,” said Mooky … Read the rest

Gold prices were already on a tear amid wild pandemic, economic and electoral uncertainty, with big banks predicting $3,000 gold …

Or even $5,000 gold …

Right before Biden’s electoral victory, JPMorgan had called another 5% price hike in a “blue wave”.

Though Trump loves gold and adorns everything with the precious metal, the precious metal itself was banking on a Biden win.

Why? Because what it loves more than anything is the Biden-backed promise of monetary stimulus.

Historically, gold has risen consistently on similar economic packages…

And today is no different.

But the best way to take advantage of a transformative year for gold is at the center of the next major discovery …

Where will the next major gold discovery be?

The Canadian province of Quebec has long been renowned as a hotspot for gold seekers across the globe….

But that doesn’t mean its time in the spotlight … Read the rest

Last year it was “climate emergency.” The previous year, it was “toxic.” But for 2020, the U.K.’s Oxford University Press (OUP) could not come up with one definitive “word of the year”.

Instead, the venerable publisher of the Oxford English Dictionary has chosen to reflect 2020’s decade-crammed-into-one-year nature by highlighting its rapid and wide-ranging effect on the English language.

The details can be found in a report published Monday by the OUP, but if it’s words you crave, here are some that are unsurprisingly given prominence in that report: coronavirus, lockdown, social distancing, superspreader, mail-in, moonshot, Black Lives Matter, cancel culture, bushfires, impeachment and acquittal.

And, of course, doomscrolling.

“As our Word of the Year process started and this data was opened up, it quickly became apparent that 2020 is not a year that could neatly be accommodated in one single ‘word of the year,’ so we have decided … Read the rest

Marks & Spencer will keep 400 stores open until midnight in Christmas week as desperate high street retailers scramble to recoup billions of pounds of sales lost to lockdown restrictions.

The UK’s biggest clothing retailer said its “longest-ever” store opening hours would kick in on Monday 21 December, with two-thirds of its 600 shops opening until midnight for a run of three days. Unlike many of its rivals M&S’s shops are currently open; however; government rules means it has been forced to close off its clothing floors.

Last year just 15 of M&S’s stores stayed open until midnight. The three midnight shopping days are expected to be the biggest sales days of the year, with the move described as giving customers “extra time to grab groceries and final gifts”.

The current lockdown restrictions have forced non-essential shops to close in England and, from Friday evening, in parts of Scotland. The … Read the rest

Stock markets in Canada’s largest centre ended the week on a hot streak, as gains in tech and resource stocks lit up the index on Friday, despite rising coronavirus cases globally weighing on sentiment.

The TSX rocketed 109.29 points to end Friday at 17,019.10, within sight of its close on New Year’s Eve, and up 343 points, or 2.06%, on the week .

The Canadian dollar demurred 0.01 cents to 76.40 cents U.S.

Techs, as mentioned, shone the brightest light, as Lightspeed POS took flight $4.09, or 7%, to $59.89, while BlackBerry gained 51 cents, or 7.3%, to $7.52.

In resource stocks, First Quantum Minerals climbed 61 cents, or 3.6%, to $17.40, while Hudbay Minerals picked up 22 cents, or 2.9%, to $7.76.

In utilities, Northland Power acquired $1.69, or 4.1%, to $42.78, and Boralex advanced $1.32, or 3.5%, to $39.29.

Industrials faded, as Air Canada lost 66 cents, or … Read the rest

Elizabeth Martin is betting on engineers to automate trading but not necessarily to make things faster.

Goldman Sachs Group Inc.’s global co-head of futures and equities electronic trading says that the ‘Flash Boys’ era of the past decade has ceded some ground to customizing trading for clients.

“I’ve never in my career bet against innovation or smart people being able to make things faster,” she says. “There will be some amount of improvement in speed and latency but in terms of the differentiated drivers of what a broad base of clients need in order to deliver execution for them, it’s less important, because most of the big scale providers offer those services.”

Martin, a 20-year Goldman veteran, relocated to London three years ago and oversees the Wall Street bank’s electronic stock trading business. Martin spoke with Bloomberg about the pandemic, the future of finance and zipping around the city in … Read the rest