Stocks Finish Winning Week

Equities in Toronto had the spotlight pretty much all to themselves Friday, as American markets retired early and allowed the focus to shift north of the border on real-estate and utility stocks.

The TSX Composite gained 39.7 points to end Friday and the week at 20,383.77. The index gained nearly 403 points, or 2,02% for the week, and was trading above the 200-day moving average.

However, on a year-to-date basis, the index is still down more than 3.7% as investors fear aggressive policy tightening by central banks could trigger a global economic downturn.

The Canadian dollar slid 0.02 cents to 74.78 cents U.S.

Among utilities, the strongest sector on the day, Capital Power advanced 84 cents, or 1.9%, to $45.24, while Emera jumped a dollar, or 1.9%, to $52.62.

In the real-estate sector, units of Dream Industrial REIT gained 24 cents, or 2%, to $12.31, while Allied Properties REIT took … Read more

London investment will come roaring back after drop-off, says British Business Bank

London firms will be forced to weather a sharp drop-off in investment in the coming months before it rebounds in full force, a top official at the British Business Bank has warned.

Matt Adey, senior economist at the state-backed economic development bank, said choppy markets in the UK meant that investment into London’s growing firms would slow in the period ahead, but predicted the Capital would come roaring back eventually.

“I would expect to see significantly less deals and there are significantly less deals going on in quarter three by the looks of it,” Adey said.

“But that doesn’t that doesn’t strike me as a long term problem. It’s just part of the volatility of these these markets.

“Fundamentally, London is a strong market with lots of innovative businesses looking for finance, and lots of people looking to finance them.”

The comments come as funding begins to slow for firms … Read more

Banks’ Quarterly Numbers in Focus Next Week

Monday

U.S.

Featured Earnings

H World Group Limited (NASDAQ:HTHT) (Q3) EPS estimates for loss of five cents, compared to loss of seven cents in the prior-year quarter.

Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) (Q4) EPS estimates for loss of 56 cents, compared to loss of 61 cents in the prior-year quarter.

The AZEK Company Inc. (NYSE:AZEK) (Q4) EPS estimates for 14 cents, compared to 31 cents in the prior-year quarter.

Canada

Featured Earnings

New Found Gold Corp. (T.NFG) (Q3) EPS estimates for loss of one cent, compared to loss of 15 cents in the prior-year quarter.

Think Research Corporation (T.THNK) (Q4) EPS estimates for loss of 11.5 cents, compared to a loss of 13 cents in the prior-year quarter.

Xortx Therapeutics Inc. (T.XRTX) (Q3) EPS estimates for loss of 23 cents, compared to loss of 12 cents the prior-year quarter.

Tuesday

U.S.

Economic Lookahead

S&P Case-Shiller U.S. home price index (Sept.)

FHFA … Read more