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TSX Flat; First Quantum-Panama Ruling; Shopify Downgrade

Published Nov 28, 2023 14:49
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By Ketki Saxena

Investing.com – Canada's main stock index closed little changed while Wall Street indices hedged higher as US Treasury yields retreated.

Toronto Stock Market News

Bank of Nova Scotia (TSX:BNS) shares fell after it missed fourth-quarter profit estimates. Adjusted earnings per share (EPS) declined 36% year over year to $1.26. Scotiabank also raised its provision for credit losses to $1.26 billion from $529 million a year ago

First Quantum Minerals (TSX:FM) faces another setback as Panama’s top court ruled its copper mine contract in the country was unconstitutional. The decision follows weeks of protests against the deal, which led to operations at the contested mine being forced to wind down due to a supply blockade.

Piper Sandler downgraded Shopify (TSX:SHOP) to "underweight" from "neutral" and lowered their price target to $56 from $58 per share, noting that SHOP shares are currently at an "untenable valuation".

TC Energy (TSX:TRP) raised its expected adjusted core earnings for 2024 to be 5% to 7% higher than they were in 2023. Core earnings for 2023 are now expected to be around 8% higher than 2022.

For earnings, view our earnings calendar.

Toronto Stocks Moving Markets Today

Top Gainers on the TSX Today:

  • Telus (TSX:T) International
  • K92 Mining (TSX:KNT)
  • Capstone Mining (TSX:CS)

Top Losers on the TSX Today:

  • Bank of Nova Scotia (TSX:BNS)
  • Gfl Environmental Holdings Inc (TSX:GFL)
  • Interfor Corp (TSX:IFP)

For all Toronto Stocks Moving Markets today, view our Canada Markets Page.

In Canadian Economics

No major Canadian economic data

For all Canadian economic releases, view our economic calendar.

All currencies Canadian Dollar unless noted otherwise.

TSX Flat; First Quantum-Panama Ruling; Shopify Downgrade
 

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Comments (1)
doug krause
doug krause Nov 28, 2023 17:28
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hmm, Do you even follow the market?? So many errors. Again today, Nov 28, you write  Canada's main stock index closed the day in the red... WRONG.. up .02%. Every day your 'analysis' is full of errors. Pretty much useless articles. Nice try though. .
 
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