Bay Street Set For Subdued Session -- Canadian Commentary

WASHINGTON (Alliance News) - Canadian stocks are poised for a quiet session Monday, having ...

Alliance News 19 June, 2017 | 2:10PM
Email Form

WASHINGTON (Alliance News) - Canadian stocks are poised for a quiet session Monday, having dropped to 6-month lows last week. Falling oil prices have hurt the energy sector, while concerns about the nation's housing bubble impacted financials.

WTI light sweet crude oil was up 10 cents at USD44.91 a barrel, having slipped to its lowest since November.

Gold for August was down USD4 at USD1252 an ounce, the lowest in three weeks.

NOVADAQ Technologies Inc. (NVDQ, NDQ.TO) announced a definitive arrangement with Stryker Corp. pursuant to which Stryker has agreed to acquire all of the issued and outstanding shares of NOVADAQ for USD11.75 per share in cash, or USD701 million.

Land & Buildings Investment Management, LLC said it has issued a letter to the board of directors of Hudson's Bay Co. (HBC.TO), calling on the department store operator to evaluate all strategic alternatives to maximize shareholder value. Land & Buildings is a holder of about 4.3% of Hudson's Bay shares.

Magna International (MGA.TO) will produce BMW's new 5-series plug-in hybrid.

Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) announced its board has elected John Paulson to serve as a director, effective June 14, 2017. Paulson is the president of Paulson & Co., Inc., a New York-based investment firm.

Copyright RTT News/dpa-AFX

Email Form
About Author Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.