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Inside the Market

Up-to-the-minute insights
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Entry archive:

Top links: Oil higher on geopolitics, but there’s a catch

SCOTT BARLOW

A roundup of what The Globe and Mail’s market strategist Scott Barlow is reading this morning on the World Wide Web.

Geopolitical turmoil in the form of a Saudi air attack in Yemen has crude prices higher this morning but there might be a catch. A series of posts on the Report on Business Inside the Market blog have explained the importance of a steep futures curve – contango – in providing speculative bids for excess oil supply. Higher one-month WTI future prices, if not accompanied by higher 12-month future prices, will reduce contango and could result in the near-time prices falling right back to previous low levels.

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Thursday's analyst upgrades and downgrades

DAVID KENNEDY

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated often during the trading day so check back for new details.

Canadian National Railway Co. is “better positioned to face current rail industry headwinds, including coal weakness, than its U.S. counterparts,” Cowen and Co. analyst Jason Seidl said. The analyst upgraded the stock to “outperform” from “market perform.”

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Before the bell: Stocks take tumble, oil surges

Luke Kawa

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

U.S. equity futures are trading decisively lower this morning, poised to extend Wednesday's large losses, as global traders start to question market valuations in the face of not exactly robust recent U.S. economic data.

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Thursday's small-cap stocks to watch

Darcy Keith

Our roundup of Canadian small-caps making news and on the move today. This post will be updated through the morning.

The board of True Gold Mining Inc. announced that it has appointed Christian Milau as the company’s CEO, effective April 27, 2015.

He joins True Gold from Endeavour Mining Corp., where he has served as chief financial officer since 2011 and played a leading role in Endeavour’s acquisition, financing, development, and operation of four gold mines.

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Top links: Iran’s nasty surprise for energy investors

SCOTT BARLOW

A roundup of what The Globe and Mails market strategist Scott Barlow is reading this morning on the World Wide Web.

The conventional wisdom in global energy markets was that Iranian oil producers would slowly ramp up exports when trade sanctions were removed. According to Bloomberg, however, Iran has gotten a jump start and now has a considerable supply of oil stored and ready to put on the market the second sanctions are removed. This will do nothing good for the ongoing global supply glut:

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Wednesday’s analyst upgrades and downgrades

DAVID LEEDER

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated often during the trading day so check back for new details.

National Bank Financial analyst Adam Shine downgraded Rogers Communications Inc. to "sector perform" from "outperform" and cut his price target to $47 (Canadian) from $50. He said investors should look for a better buying opportunity below current trading levels.

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Wednesday's small-cap stocks to watch

Darcy Keith

Our roundup of Canadian small-caps making news and on the move today.

AGF Management Ltd. reported fiscal first-quarter earnings per share from continuing operations of 16 cents, 2 cents better than the consensus estimate. Revenue from continuing operations fell to $111.7-million from $116.9-million a year earlier, matching Street forecasts.

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Before the bell: Oil higher ahead of inventories report

Luke Kawa

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

U.S. equity futures are virtually flat ahead of the open on the heels of large losses suffered Tuesday.

The steady flow of Fedspeak continued this morning, with Charles Evans delivering a speech in London. The President of the Chicago Fed indicated that he thought it would be appropriate to wait until 2016 to begin hiking rates.

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Top links: How air conditioning threatens Canadian export growth

SCOTT BARLOW

A roundup of what The Globe and Mails market strategist Scott Barlow is reading this morning on the World Wide Web.

Everyone in finance is biased by their formative years in the industry. In my case, everything looks like the tech bubble and this is an urge I have to fight. The generation before me used resource stocks to dodge the adverse market effects of inflation and find themselves reaching for commodity companies to this day.

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Tuesday's small-cap stocks to watch

Darcy Keith

Our roundup of Canadian small-caps making news and on the move today.

Lumenpulse Inc., a manufacturer of LED lighting solutions, announced that it has acquired all of the shares of SDL Lighting Inc., a designer and manufacturer of outdoor LED luminaires, for $3.2-million in cash.

"The transaction is in line with Lumenpulse’s growth strategy, adding fully complementary LED solutions to the product portfolio to expand the addressable market; and accelerating entry into the high performance architectural, area, urban, pedestrian and professional landscape lighting segments," the company said.

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Before the bell: Futures pare gains after inflation report

Luke Kawa

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

U.S. stock futures are trading to the upside in a day filled with important economic data. S&P/TSX 60 futures are also in positive territory, with West Texas Intermediate crude catching a bid this morning.

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Monday’s analyst upgrades and downgrades

LUKE KAWA

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated often during the trading day so check back for new details.

Canaccord Genuity Analyst Derek Dley was surprised by the level of weakness AutoCanada Inc. expects in Alberta. He’s downgrading the stock to “hold” from “buy” and slashing his target price.

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Top links: Pros fear 'disorderly collapse' in global bond markets

SCOTT BARLOW

A roundup of what The Globe and Mails market strategist Scott Barlow is reading this morning on the World Wide Web.

Professional managers are professing a growing tide of concern regarding global bond markets, highlighting rising risk among the asset class usually classified as “risk free.” The Financial Times reports:

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Monday's small-cap stocks to watch

Darcy Keith

Our roundup of Canadian small-caps making news and on the move today.

AGT Food and Ingredients Inc. reported its fourth-quarter and year-end results, with adjusted earnings per share for 2014 rising to $1.76 a share from $1.09 a year earlier. Revenue rose 19 per cent to $1.36-billion. The Street was expecting EPS of $1.47 on revenues of $1.35-billion.

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Before the bell: Futures fall amid 'tantrum' worries

Luke Kawa

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

U.S. and Canadian equity futures are lower this morning as indexes appear poised to give back some of Friday's gains.

The Federal Reserve's cautious outlook continues to set the tone for the markets. In the absence of high-level data, traders will be keyed in on comments from monetary policymakers to get a better sense of which way the winds are blowing inside the central bank.

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So far, so good for Canadian active fund managers this year

Clare O'Hara

Active fund managers in Canada are faring better than last year, but not as much as their U.S counterparts.

Forty-one per cent of Canadian equity funds are outperforming the S&P/TSX composite index as of March 18, compared to 30 per cent for all of 2014.

In comparison, more than half of U.S funds had posted gains that exceeded benchmark indexes in 2015 (as of March 6), according to a recent Fundstrat Global Advisors LLC survey.

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