The Canadian dollar traded higher overnight, lifted by AUD/USD and NZD/USD gains. The antipodean currencies rallied on improved global risk sentiment. The Chinese yuan continued to trade higher, and that development raised expectations for a trade fueled, global economic rebound, on the heels of a successful COVID-19 vaccine.

There is a danger that markets may be getting too far ahead of themselves. A coronavirus vaccine won’t be readily available till some time in the late spring, and that doesn’t necessarily mean that an effective distribution mechanism will be in place. More immediately, new COVID-19 cases continue to rise or remain stubbornly high in Ontario, Quebec, Manitoba, as well as in the U.K., Europe, and the U.S.. The impact of measure to contain the virus will negatively effective short-term economic growth, and it is hard to see the current “risk-rally” lasting.

The British pound continues to grind higher on anticipation that … Read the rest

Covid-19 has brought many challenges to all kinds of industries and professions. Many were concerned about the effect on young entrepreneurs across the nation – what would happen to the UK’s thriving start-up scene in the likes of Manchester, London, Exeter and Bristol?

As Paul Beach, Head of Executives and Entrepreneurs, Private Banking at Arbuthnot Latham explains a mandated ‘remote’ working style, rapidly changing consumer habits and tightened purse strings created a new and unknown business landscape. These shifts began in Lockdown 1.0 and will only become more entrenched as we move through 2.0. Would young entrepreneurs be squeezed out of the industry? We hoped not.

I’ve seen first-hand that the entrepreneurial spirit is still very much alive and kicking from my work with start-ups from The Business School (formerly Cass Business School) and City, University of London. Every November, we celebrate young entrepreneurs at the Inspiring Innovator awards and … Read the rest

The Canadian dollar, like the rest of the G-10 FX major currencies, traded in relatively narrow ranges in a somewhat subdued overnight session.

The euphoria about possible coronavirus vaccines started to fade in Europe, with the top equity indexes all posting losses at the Toronto open. Traders continue to keep a cautious eye on the elevated U.S. coronavirus cases and talk of measures to slow the rise, as well as the fall-out from the U.S. election.

GBP/USD is trading at the top of its $1.3194-$1.3255 range, underpinned by Brexit rumours and headlines. The U.K. Express reported that Prime Minister Boris Johnson was told by Chief Negotiator David Frost to expect a trade deal by next Tuesday. A contradicting report in another paper claimed that France would veto any deal unless the fishing rights issues were resolved in its favour. The short-term GBP/USD technicals are looking for additional gains above $1.3280 … Read the rest

Shares of Dollarama Inc (TSX:DOL) are up 11% this year, well above the TSX’s 3% decline over the same period. The dollar store chain is an appealing investment especially amid a recession and when consumers are on tighter budgets.

In its most recent quarterly results, for the period ending Aug. 2, the retailer reported solid sales growth of 7.1%, reaching $1.0 billion. Its comparable store sales grew at a rate of 5.4% (when excluding temporary store closures), and even when including all stores, the growth rate was still a positive 2.5%. President and CEO Neil Rossy stated that “our sales were strong, driven by the demand for summer seasonal items, and store traffic improved with each month as provincial reopening plans unfolded.”

The company is scheduled to release its third-quarter results on Dec. 9

Currently, the stock’s trading at a forward price-to-earnings multiple of 18 and a price-to-sales ratio of … Read the rest

* This weekend's Barron's cover offers a low-risk strategy for investors optimistic about an ecomomic recovery. * Other featured articles discuss what a COVID-19 vaccine would mean for the stock market and how it could shake up the pharmaceutical industry. * Also, the prospects for semiconductor stocks, a leading retailer, a financial services giant and more."A Low-Risk Strategy for Those Optimistic About a Recovery" by Daren Fonda suggests that small companies typically outperform over the long term, even more so at the beginning of an economic rebound. With a coronavirus vaccine on the horizon, Barron's believes Acme United Corporation (NYSE: ACU) is among the small cap stocks worth a look.Max A. Cherney's "Intel Can Shine Again" looks at how repeated manufacturing delays have dented the reputation of chip giant Intel Corporation (NASDAQ: INTC). In addition, Apple now has ditched Intel's products. Discover why Barron's thinks the stock is down but … Read the rest

Ireland is warning that no post-Brexit trade deal will be struck if the UK pushes on with a plan to break international law.

Tensions have ratcheted up following comments by senior figures in both governments ahead of another crucial week for negotiations.

Ireland’s foreign minister Simon Coveney told Sky News that should Boris Johnson persist with trying to override parts of the EU divorce deal, then a new treaty on the future relationship will be off the table.

“This is move week,” he said. “We’ve got to make big progress.”

But a senior minister in the UK confirmed that Mr Johnson will stick to his plan and keep the controversial parts of the draft legislation in place.

Peers have removed the offending bits of the Internal Market Bill, which included giving ministers the power to “disapply” parts of the with withdrawal agreement relating to goods moving between Northern Ireland and … Read the rest

Stocks throughout North America finished Friday much the way they started it, with booming gains pretty much up and down the board.

The TSX recovered 93.46 points to close Friday at 16,675.64. On the week, the index vaulted 392 points, or 2.41%.

The Canadian dollar backtracked 0.03 cents to 76.08 cents U.S.

Health-care stocks carried much of the load Friday, with Trillium Pharmaceuticals picking up $1.96, or 10.6%, to $20.43, and Aphria triumphing 37 cents, or 5.2%, to $7.50.

Energy stocks were the next largest gainer, with Husky Energy up 21 cents, or 4.9%, to $4.51, while Cenovus Energy gained 25 cents, or 4.7%, to $5.62.

In the consumer discretionary sector, Linamar Corp. improved $1.69, or 3%, to $58.15, while Spin Master Corp. advanced 82 cents, or 2.7%, to $31.15.

Consumer staples, particularly grocers, did not fare so well, as Loblaw dumped $1.90, or 2.8%, to $65.70, while Empire Company … Read the rest

(Bloomberg) — Natural gas producer Gulfport Energy Corp. filed for bankruptcy, joining a slew of U.S. energy companies that are collapsing after the global pandemic deepened their struggle with low prices and too much debt.The Oklahoma City-based driller filed a Chapter 11 petition on Nov. 13 in U.S. Bankruptcy Court in Houston, declaring an estimated $2.5 billion in liabilities as of Sept. 30.Gulfport, which produces gas from fields in Ohio and Oklahoma, was grappling to stay afloat even before Covid-19, after a series of acquisitions over the past decade left it too indebted to weather the energy rout. Following pressure from activist investor Firefly Value Partners to change its board, the company on Aug. 7 warned it might not be able to stay in business if it failed to refinance its debt.Many investors have shunned producers operating outside of the Permian Basin of West Texas and New Mexico, the most … Read the rest

Tesco has apologised to its online customers unable to get on its website as the supermarket seeks to cope with high demand for Christmas bookings.

The UK’s largest retailer has had to install a queuing system online to help it to manage the demand.

Some customers complained to Tesco that they had been waiting hours to get onto the supermarket’s website.

“We’re sorry if things take a bit longer than usual,” Tesco said on its Twitter account.

“A lot of customers are using our website and app at the moment.”

Tesco said it was “using a virtual waiting room to help us manage the flow”.

Supermarkets have been overwhelmed with demand as people start to plan for Christmas, and rival Ocado has already sold out of slots after “huge” demand.

One Tesco customer said on Twitter: “We use delivery saver because we have 3 young children and both parents work … Read the rest

Monday

U.S.

Featured Earnings

Baidu Inc. (NASDAQ:BIDU) (Q3) EPS projection for 99 cents, compared to $1.31 in the prior-year quarter.

JD.com Inc. (NASDAQ:JD) (Q3) EPS projection for 36 cents, compared to 19 cents in the prior-year quarter.

Palo Alto Networks Inc. (PANW) (Q1) EPS projection for gain of five cents compared to loss of 32 cents in the prior-year quarter.

Canada

Economic lookahead

Monthly Survey of Manufacturing (Sept.) Manufacturing sales fell 2.0% to $52.4 billion in August, following three consecutive months of strong increases.

CREA Stats (Sept.) The Canadian Real Estate Association said home sales climbed 0.9% in September from August, raising them to a new all-time monthly record for the third month in a row.

Featured Earnings

K92 Mining Inc. (T.KNT) (Q3) EPS projection for eight cents, compared to 11 cents in the prior-year quarter.

MediPharm Labs Corp. (T.LABS) (Q3) EPS projection for loss of three cents, compared to

Read the rest