Monday, the Canadian Stock Marked was boosted by Alimentation Couche-Tard’s buyout of CST brands convenience stores for $3.8 billion (US$). Today, it was Bank of Montreal’s turn with stellar quarterly earnings that beat all estimates. The stock shot up to a new record high and dragged the entire financial sector with it.
On Wednesday we get quarterly results from Royal Bank of Canada and on Thursday it’s the turn of CIBC and TD Bank. Royal Bank of Canada stock moved to a new all-time high today of $82.25 up 1.43% so tomorrow should be interesting. Earnings are out before the TSX opens.
TSX Composite Index Rises 16.58 Points
The morning started with a better move in the TSX Composite Index as it climbed to 17,796.56. From there the TSX began to slip and by the noon hour it was at the low for the day, having fallen to 14,752.71.
The TSX Composite Index tried to rally back by the afternoon rally failed to come close to the morning highs and that broughtt in sellers in the afternoon who pushed the TSX back down into the close. The end of the day found the TSX at 14,764.77 up just 16.58 points……………………..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for August 24 2016
FullyInformed Members can log in through this link to read the latest Canadian Stock Market Outlook for tomorrow for the TSX Composite Index or they can sign in to the full members site here. Non-members can join here or review the benefits of a membership.
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