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.
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In Canadian Economics
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All currencies Canadian Dollar unless noted otherwise.