Five things to watch in the Canadian business world in the week ahead
TORONTO – Five things to watch in the Canadian business world in the coming week:
Canadian markets closed
Stock markets are closed to trading in Canada on Monday for Victoria Day, but U.S. markets will be open for business. The difference could mean volatile trading in Canadian markets when they reopen on Tuesday as investors keep abreast of any news that transpired while markets were closed for the holidays.
The major Canadian banks will release their second quarter financial results this week. Scotiabank and BMO will be first out on Wednesday, followed by CIBC, TD Bank and RBC on Thursday. The National Bank of Canada will publish its results on Friday.
Cineplex Inc. will hold its annual meeting on Wednesday as the company plans a resumption of health measures instituted during the COVID-19 pandemic, which forced movie theaters to close for extended periods. Cineplex announced a first-quarter loss earlier this month, but revenues soared as Canadians returned to theaters and spent more on tickets and snacks.
Statistics Canada will add a bit more detail to the March economic picture when it releases retail trade figures for the month on Thursday. The agency’s preliminary estimate for the month suggests sales rose 1.4% for the month. Retail sales in February rose 0.1% to $59.9 billion, but in volume retail sales fell 0.4% for the month.
Canopy Growth Corp. will release its fourth-quarter and full-year financial results on Friday and hold a conference call with financial analysts. The company recently announced a deal giving it the right to acquire California-based cannabis company Jetty Extracts, should the United States federally legalize the main ingredient in marijuana.
This report from The Canadian Press was first published on May 22, 2022.
Companies in this story: (TSX:BNS, TSX:CM, TSX:BMO, TSX:TD, TSX:RY, TSX:NA, TSX:CGX, TSX:WEED)