TORONTO — Five things to watch for in the Canadian business world in the coming week:
Canadian markets closed
Stock markets are closed for trading in Canada on Monday for the Victoria Day holiday, however U.S. markets will be open for business. The difference could mean volatile trading on Canadian markets when they reopen on Tuesday as investors catch up to any news that happened while markets were closed for the holiday.
Bank earnings
Canada’s big banks will report their second-quarter financial results this week. Scotiabank and BMO will be first out of the gate on Wednesday followed by CIBC, TD Bank and RBC on Thursday. National Bank of Canada will report its results on Friday.
Cineplex meeting
Cineplex Inc. will hold its annual meeting on Wednesday as the company plots a recovery from health measures instituted during the COVID-19 pandemic, which forced theatres to close for lengthy periods. Cineplex reported a first-quarter loss earlier this month, but revenue soared as Canadians returned to the theatres and spent more on tickets and snacks.
Retail trade numbers
Statistics Canada will add a little more detail to the economic picture for March when it releases retail trade figures for the month on Thursday. The agency’s preliminary estimate for the month suggested sales were up 1.4 per cent for the month. Retail sales in February rose 0.1 per cent to $59.9 billion, however in volume terms retail sales fell 0.4 per cent for the month.
Canopy results
Canopy Growth Corp. will release its fourth-quarter and full-year financial results on Friday and hold a conference call with financial analysts. The company announced a deal recently to give it the right to acquire California cannabis company Jetty Extracts, if the U.S. federally legalizes the main ingredient in marijuana.
This report by The Canadian Press was first published May 22, 2022.
Companies in this story: (TSX:BNS, TSX:CM, TSX:BMO, TSX:TD, TSX:RY, TSX:NA, TSX:CGX, TSX:WEED)
