By Steve Scherer OTTAWA (Reuters) -Canada and Saudi Arabia have agreed to restore full diplomatic ties and appoint new ambassadors, both countries said on Wednesday, bringing to a close a 2018 dispute that damaged relations and trade. The decision follows discussions held between Canadian Prime Minister Justin Trudeau and Saudi Crown Prince Mohammed bin Salman…
By Hari Kishan BENGALURU (Reuters) – Global stock indices will end this year higher than where they started it but most are set to be confined to ranges in coming months even as central banks approach the endgame for interest rate rises, according to Reuters polls of market strategists. Despite the drubbing in 2022 and…
By Lawrence White LONDON (Reuters) -HSBC is reviewing a possible exit from as many as a dozen countries, or one in five of the markets it operates in, to sharpen its focus on Asian expansion, Chief Financial Officer Georges Elhedery told Reuters in his first interview since taking the role. The reviews follow pressure from…
By Fergal Smith (Reuters) – Canada’s main stock market fell to its lowest closing level in nearly two months on Wednesday as two major banks reported quarterly earnings that missed analysts’ estimates and U.S. debt deal uncertainty weighed on investor sentiment. The Toronto Stock Exchange’s S&P/TSX composite index ended down 218.32 points, or 1.1%, at…
By Herbert Lash NEW YORK (Reuters) -The dollar hit a fresh two-month high against a basket of peers on Wednesday, bolstered by recent signs of a resilient U.S. economy, while unease over U.S. debt ceiling talks kept investors moving to safe havens. The dollar is not seen posing an immediate risk, unlike certain Treasury securities,…
By Nivedita Balu (Reuters) – Bank of Montreal and Bank of Nova Scotia on Wednesday missed quarterly profit estimates as they faced higher expenses and set aside more rainy-day funds, sending their stocks lower. The results come as investor confidence in the markets crumbles in the face of a relentless rate-hiking cycle and a U.S….
By Fergal Smith TORONTO (Reuters) – Canada’s main stock index will rally less than previously expected in 2023 as higher borrowing costs cool the domestic economy and signs China’s recovery is slowing reduce prospects for its resource shares, a Reuters poll found. The median prediction of 22 portfolio managers and strategists in the May 10-23…
(Reuters) – Bank of Montreal’s second-quarter profit jumped as higher interest rates shored up the lender’s net interest income, the Canadian bank said on Wednesday. Net income excluding one-off items rose to C$2.22 billion ($1.65 billion), or C$2.93 per share, for the three months ended April 30, compared with C$2.19 billion, or C$3.23 a share,…
By Karen Brettell and Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. dollar hit a two-month high against a basket of currencies on Tuesday as a lack of progress in talks over increasing the U.S. debt limit hurt investors’ appetite for risk-taking. Representatives of President Joe Biden and congressional Republicans ended another round of…
By Steve Scherer OTTAWA (Reuters) – The fortunes of Alberta’s politicians often go hand-in-hand with the Western Canadian province’s oil and gas sector, its biggest industry, and the question of who will be its greatest advocate is a major theme in the final week before Albertans pick their leader. Polls are split on whether Premier…
