Five things to watch for in the Canadian business world in the coming week
Written by The Canadian Press on April 21, 2024
TORONTO — Five things to watch for in the Canadian business world in the coming week:
Railway earnings
The country’s two biggest railway companies will report their first-quarter results this week. Canadian National Railway Co. will report its results after the close of financial markets on Tuesday, while Canadian Pacific Kansas City Ltd. will release its results before markets open Wednesday.
Bank of Canada deliberations
The Bank of Canada will release Wednesday its summary of monetary policy deliberations for its interest rate decision earlier this month. The central bank kept its key interest rate target on hold at five per cent, but governor Tiff Macklem said it was “within the realm of possibilities” that he could cut rates in June.
Metro results
Grocer Metro Inc. will report its second-quarter results and hold a conference call with financial analysts on Wednesday morning. The results come as discussions toward a grocery code of conduct continue. The industry has been under scrutiny as food inflation has outpaced the overall increases in the cost of living.
Retail sales
Statistics Canada is set to report retail sales figures for February on Wednesday. The agency said last month that retail sales in January fell 0.3 per cent to $67.0 billion for the first month of the year, but its early estimate for February pointed to an increase of 0.1 per cent.
Resource sector results
Quarterly results from several of the big names in the Canadian resource sector are expected this week. First Quantum Minerals Ltd. will report after the close of trading on Tuesday and hold a conference call Wednesday. Teck Resources Ltd. is expected to report its results before markets open on Thursday, while Agnico Eagle Mines Ltd. is expected to report after markets close on Thursday. Imperial Oil Ltd. will report its results and hold a conference call with financial analysts and investors Friday morning.
This report by The Canadian Press was first published April 21, 2024.
Companies in this story: (TSX:CNR, TSX:CP, TSX:MRU, TSX:TECK.B, TSX:AEM, TSX:IMO)
The Canadian Press