Month: January 2022

It was an ugly end to an ugly week for equities on both sides of the border in North America, as energy stocks took a hit and investors foresaw higher interest rates starting next week.

The S&P/TSX Composite fell sharply by Friday’s closing bell, 436.79 points, or 2.1%, to 20,621.39, for a loss on the week of 736 points, or 3.45%.

The Canadian dollar slumped 0.49 cents at 79.50 cents U.S.

Energy stocks wore the largest collars, with Birchcliff Energy sliding 41 cents, or 6.7%, to $5.68, while Vermilion Energy weakened a dollar, or 5.3%, to $18.02.

Tech issues took a wallop, too, as Shopify was bruised $169.58, or 13.2%, to $1,112.61, HUT 8 Mining was stricken 96 cents, or 12.3%, to $6.82.

In resource stocks, Turquoise Hill retreated $1.80, or 8.5%, to $19.49, while MAG Silver doffed $1.43, or 7%, to $19.07.

On the economic calendar, Statistics Canada reported … Read more

Customers now expect to be in control of their experiences.

Source link … Read more

The UK government will invest £100m in Britishvolt as the car battery manufacturing startup seeks to build Britain’s first large-scale “gigafactory” in the north-east of England.

The government’s Automotive Transformation Fund will invest alongside asset management company Abrdn and its majority-owned property investment arm, Tritax, to fund a sale and leaseback deal for the huge building that will house the electric car battery factory, near Blyth in Northumberland.

Peter Rolton, Britishvolt’s executive chairman, said: “The UK automotive industry needs a local source of batteries. Chinese or other Asian imports are not going to be an option. There will be very, very significant shortfalls of batteries. We are absolutely vital to maintain the UK industry and support those jobs.”

Britishvolt is one of two major UK battery manufacturing projects that has secured funding, alongside an expansion of an existing plant at Sunderland owned by China’s Envision that supplies to Nissan.

The … Read more

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Monday

U.S.

Economic Lookahead

Markit manufacturing Purchasing Managers Index (flash) (Jan.)

Markit services PMI (flash) (Jan.)

Featured Earnings

International Business Machines Corp (NYSE:IBM) (Q4) EPS projects for $3.55, compared to $2.07 in the prior-year quarter.

Southern Copper Corporation (NASDAQ:SCCO) (Q4) EPS projects for $1.18, compared to 76 cents in the prior-year quarter.

Royal Phillips (NYSE: PHG (Q4) EPS projects for $1.55, compared to $1.12 in the prior-year quarter.

Canada

Featured Earnings

Canada Nickel Company Inc. (T.CNC) (Q4) EPS projects for loss of two cents, compared to loss of three cents in the prior-year quarter.

Tuesday

U.S.

Economic Lookahead

S&P Case-Shiller national home price index (Nov.)

FHFA national home price index (Nov.)

Consumer confidence index (Nov.)

Featured Earnings

Microsoft Corp. (NASDAQ:MSFT) (Q2) EPS projects for 85 cents, compared to 74 cents in the prior-year quarter.

Johnson & Johnson (NYSE:JNJ) (Q1) EPS projects for $2.12, compared to $1.86 in the prior-year quarter.… Read more