Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

What to Watch in Canadian Markets This Week – June 22-26

Published 2020-06-22, 09:00 a/m
Updated 2023-07-09, 06:31 a/m

With summer now officially here, the scale and scope of economic data is beginning to slow, but there are still a few key events and earnings reports for investors to keep on their radar this week.

New BoC Governor Speaks Monday

First up is Tiff Macklem, the new governor of the Bank of Canada, who will be speaking to the Canadian Club and the Cercles Canadiens today. The address will be delivered by videoconference.

Last week, while addressing the House of Commons standing committee on finance, Macklem made it clear, the central bank has no intention of raising interest rates any time soon. He also signalled that he aims to move the bank’s focus to stimulating the economy and away from simply stabilizing markets.

Indigo Books Issues Earning Report 

On Tuesday, Indigo Books & Music Inc. (TSX:IDG) unveils its latest quarterly earnings.

Canada’s biggest book-seller has started rehiring some staff back after laying off about 5,200 when it closed all of its stores in March due to the COVID-19 pandemic.

The shutdown has been devastating for the company, but it will be interesting to see how it has affected its online offerings.

BlackBerry Reports Wednesday

On Wednesday, BlackBerry Ltd (TSX:BB) provides its latest figures – another earnings report worth watching.

The Ontario-based company was in the news last week, when the federal government announced it was working with the software security company and Shopify Inc (TSX:SHOP), the online tech firm, to develop a mobile app to track and trace Canadians who may have been exposed to an individual who has tested positive for the coronavirus.

The company has seen its share of downward movement on its share price, but has been on a bit of an upswing since hitting a low in March. In the past year, the stock has lost almost 37.5% of its value. It closed Friday at $6.99 a share, up 1.16% on the day.

Air Canada AGM

On Thursday, stockholders are invited to listen in on Air Canada (TSX:AC)’s annual general meeting. But don’t expect it to be an uplifting experience. Like most major airlines, the losses being incurred are running in the millions every single day as international travel has all but stopped and domestic travel continues to be extremely limited due to the pandemic.

Details about how Air Canada plans to survive will be the information most will be looking for.

Canadian Pharma Firm Sets New Record on Nasdaq

Investors this week might also be interested in watching what happens with Quebec-based pharmaceutical newcomer Repare Therapeutics Inc (NASDAQ:RPTX)

The Montreal company made big headlines late last week when its IPO last Friday surpassed all expectations as it hit the US$1-billion mark, exceeding its issue price that had been revised upward just the day before. Its introduction on the Nasdaq ranked as the largest initial public offering of a Canadian biotechnology company.

Repare stock hit as high as US$34 last Friday before closing at US$30.80, putting its market capitalization at a cool $US1.1 billion.

Repare specializes in cancer treatments, including what it calls “precision oncology” drugs to fight cancerous tumours.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.