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A Bay Street sign, a symbol of Canada's economic markets and where main financial institutions are located, is seen in Toronto, May 1, 2013.Mark Blinch/Reuters

BMO kicks off bank results with profit boost, dividend hike

Bank of Montreal boosted profit for the fiscal second quarter, hiked its dividend and held its mortgage portfolio stable in a volatile market, but still suffered a letdown as slower-than-expected U.S. business activity dragged on the bank's growth. Story (James Bradshaw)



BMO sees boost from capital-markets arm

The capital-markets arm of Bank of Montreal reported a 12-per-cent jump in earnings in its second quarter, buoyed by record revenue in underwriting and advisory work that helped the bank overcome lacklustre results in trading. Story (Christina Pellegrini)



This is the daily Streetwise newsletter with headlines chosen by Globe financial services editor Rita Trichur. If you're reading this on the Web or someone forwarded this e-mail newsletter to you, you can sign up for the Streetwise newsletter and all Globe newsletters here.



Kinder Morgan prices IPO below previous expectations

Kinder Morgan Canada, best known for its Trans Mountain oil pipeline in Alberta and British Columbia, has priced the shares at $17 apiece, down from a previously expected range of $19 to $22, according to a source familiar with the issue. The expected proceeds remain the same, making it one of the largest Canadian IPOs in recent years. Story(Jeffrey Jones and Jeff Lewis)



DAILY DEALS

U.S. grains trader Bunge Ltd. said on Tuesday it was not in talks with Swiss mining and commodities group Glencore Plc, after the latter said it had made an informal approach to discuss "a possible consensual business combination." Story



Private-equity firm Cerberus Capital Management is working on a bid for teen-apparel retailer Abercrombie & Fitch Co. alongside American Eagle Outfitters Inc., which could give American Eagle a leg up in the pursuit of its struggling rival. Story (WSJ, subscription required)



An acquisition company created by a former Blackstone Group L.P. partner and Fidelity National Financial Inc.'s chairman reached a deal Wednesday to buy life insurance provider Fidelity & Guaranty Life in an all-cash deal worth about $1.84-billion. Story (WSJ, subscription required)



ELSEWHERE IN FINANCE

Never mind voters or airport executives. The constituency that Canada needs to get on board for any privatization of the country's airports is its bondholders. Story



Home Capital's troubles started with "unlucky" brokers. That's what Canadian banks and insurers call the mortgage merchants who get caught submitting fraudulent loan documents. Story

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