TORONTO — Five things to watch for in the Canadian business world in the coming week:
Railway earnings
Canada’s biggest railways will report their first-quarter results this week. Canadian National Railway Co. will report its results after the close of financial markets on Monday, while Canadian Pacific Kansas City Ltd. will report its results after the close of markets on Wednesday.
Bank of Canada deliberations
The Bank of Canada will publish Wednesday its summary of monetary policy deliberations by its governing council for its interest rate decision earlier this month. The report will offer a glimpse into the reasoning behind the central bank’s decision to keep its key policy rate target on hold a 4.5 per cent.
Teck shareholder vote
Teck Resources Ltd. will hold its annual meeting on Wednesday when shareholders will vote on a proposal to split the company’s metals and steelmaking coal businesses into two different companies and a second plan to end its dual-class share structure. Glencore, which is seeking to acquire Teck, is urging shareholders oppose the plan to split the company.
GDP
Statistics Canada will release Friday its gross domestic product figures for February as well as its early estimate for March. The agency’s early estimate for February released last month indicated a gain of 0.3 per cent for the month, helped by increases in the mining, quarrying, and oil and gas extraction, manufacturing, and finance and insurance sectors.
TC Energy results
TC Energy Corp. will report its first-quarter results and hold a conference call with investors and financial analysts on Friday. Last month, a U.S. regulator ordered the Calgary-based company to reduce the operating pressure on its Keystone pipeline system as a result of an ongoing investigation into a Dec. 7 leak that saw around 13,000 barrels of oil spill into a creek in Washington County, Kansas.
This report by The Canadian Press was first published April 21, 2023.
Companies in this story: (TSX:CNR, TSX:CP, TSX:TECK.B, TSX:TRP)
