Smaller towns may not benefit from infrastructure bank: Morneau + MORE Nov 23rd

Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,100.38, up 60.51 points):
Canopy Growth Corp. (TSX:CGC). Drug manufacturer. Down $2.23, or 21.28 per cent, to $8.25 on 15.8 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Up three cents, or 0.73 per cent, to $4.16 on 9.2 million shares.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Down one cent, or 0.18 per cent, to $5.50 on 7.7 million shares.
ECN Capital Corp. (TSX:ECN). Financial Services. Up one cent, or 0.32 per cent, to $3.10 on 7.6 million shares.
Manulife Financial Corp. (TSX:MFC). Financial Services. Up 40 cents, or 1.73 per cent, to $23.54 on 7.3 million shares.
B2Gold Corp. (TSX:BTO). Miner. Up six cents, or 1.83 per cent, to $3.34 on 5.6 million shares.
Companies reporting major news:
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up four cents, or 2.14 per cent, to $1.91 on 2.2 million shares. Bombardier has inked a deal with Montreal’s suburban transit authority…

CALGARY – U.S. president-elect Donald Trump’s promise to ramp up energy production soon after he takes office is raising concern in Alberta’s oilpatch, where several industry groups say such a move could set Canada back in its ability to compete for investment.
In a video posted Monday on YouTube, Trump committed to cancelling “job-killing restrictions on the production of American energy, including shale energy and clean coal” within his first 100 days of power.
While his message lacked specifics, it has caught the attention of oil and gas groups north of the border.
“What we saw last night, I think, was a reaffirmation that the new administration wants to make energy a centrepiece of the economic rejuvenation of the U.S.,” said Tim McMillan, president of the Canadian Association of Petroleum Producers.
“I think it’s a bit of a call to action to us as Canadians.”
President Mark Scholz of the Canadian Association of Oilwell Drilling Contractors said Trump’s vow could spell bad news for his members…

The Dow Jones industrial average soared above 19,000 points for the first time ever, as stock markets continued to ride a wave of optimism triggered by the victory of U.S. president-elect Donald Trump.

THE CANADIAN PRESS/Justin Tang
OTTAWA – Finance Minister Bill Morneau is suggesting that small municipalities won’t see much – if any – benefit from the federal government’s proposed new infrastructure bank.
The bank, to be launched next year, is intended to attract billions in private investment for public infrastructure projects.
But Morneau told the Federation of Canadian Municipalities on Tuesday that global institutional investors will be looking to invest only in “large transformational projects” that produce a revenue stream, from which they can earn a high rate of return on their investment.
He says it’s unlikely they’ll want to sink money into roads and bridges in small communities.
In a question-and-answer session hosted by the federation, Morneau made no mention of the notion that a number of small communities with similar projects could bundle them together in order to make them more appealing for international investors.
But FCM president Clark Somerville said the federation wants to ensure that all municipalities, big or small, are able to take advantage of the bank; he says rural Liberal MPs have assured him they’ll be pushing hard for the bundling concept…

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