The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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Traders set for second round of bank earns after RBC/TD breeze past expectations
– canadianbusiness.com
TORONTO – The Toronto stock market could benefit from further lift in the financial sector this week as traders anticipate another positive run of earnings from the big banks.
The TSX ran ahead 1.33 per cent last week after two losing weeks, lifted by a gain of about 1.2 per cent in the financial sector after Royal Bank (TSX:RY) and TD Bank (TSX:TD) posted earnings reports that blew past analyst expectations. The other big gainer was the base metals group, up about 1.5 per cent for the week, in part due to data showing a strengthening Chinese manufacturing sector.
This week, investors will take in earnings from National Bank (TSX:NA) and Scotiabank (TSX:BNS) on Tuesday, Bank of Montreal (TSX:BMO) on Wednesday and CIBC (TSX:CM) on Thursday.
Investors were impressed as RBC and TD seemed to be firing on all cylinders in the latest quarter with strong contributions from major divisions and lower loan-loss provisions.
“The expectation is (the other banks) should be issuing good results as well,” said Sadiq Adatia, chief investment officer of Sun Life Globel Investment…
The TSX ran ahead 1.33 per cent last week after two losing weeks, lifted by a gain of about 1.2 per cent in the financial sector after Royal Bank (TSX:RY) and TD Bank (TSX:TD) posted earnings reports that blew past analyst expectations. The other big gainer was the base metals group, up about 1.5 per cent for the week, in part due to data showing a strengthening Chinese manufacturing sector.
This week, investors will take in earnings from National Bank (TSX:NA) and Scotiabank (TSX:BNS) on Tuesday, Bank of Montreal (TSX:BMO) on Wednesday and CIBC (TSX:CM) on Thursday.
Investors were impressed as RBC and TD seemed to be firing on all cylinders in the latest quarter with strong contributions from major divisions and lower loan-loss provisions.
“The expectation is (the other banks) should be issuing good results as well,” said Sadiq Adatia, chief investment officer of Sun Life Globel Investment…
