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8:30 a.m.
Canadian GDP 0.3% falls in Q3
Canada’s economy shrank within the third quarter, as gross home product fell by 0.3 per cent, Statistics Canada mentioned.
Extra to return…
Monetary Submit, The Canadian Press
7:30 a.m.
RBC, CIBC, TD elevate quarterly dividends amid combined earnings experiences
Each Royal Bank of Canada and the Canadian Imperial Bank of Commerce raised their dividends after reporting an increase in revenue, whereas Toronto-Dominion Bank additionally raised its divided, although revenue fell.
RBC mentioned it had fourth-quarter revenue of $4.13 billion, up from $3.88 billion a yr earlier. The financial institution will now pay a quarterly dividend of $1.38 per share, up three cents from $1.35.
In the meantime, CIBC mentioned it earned $1.48 billion or $1.53 per diluted share for the quarter ended Oct. 31 in contrast with a revenue of practically $1.19 billion or $1.26 per diluted share a yr earlier. It raised its dividend to 90 cents per share, up from 87 cents per share.
TD mentioned it earned $2.89 billion or $1.49 per diluted share for the quarter ended Oct. 31, down from a revenue of $6.67 billion or $3.62 per diluted share a yr earlier. It raised its dividend to $1.02 per share, up from 96 cents.
High Tales
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The Canadian Press
Learn the complete tales: RBC beats expectations; CIBC beats expectations; TD cuts thousands of jobs as earnings miss
Inventory markets earlier than the opening bell
World shares had been principally greater Thursday forward of an replace on United States client inflation and a gathering of oil producers in Vienna.
U.S. futures rose and oil costs additionally superior.
Germany’s DAX edged 0.1 per cent greater to 16,189.89 and the CAC 40 in Paris additionally gained 0.1 per cent to 7,277.03. Britain’s FTSE 100 picked up 0.3 per cent to 7,448.08. The longer term for the S&P 500 rose 0.1 per cent and that for the Dow Jones industrial common was up 0.4 per cent.
The S&P/TSX composite index closed up 79.43 factors at 20,116.20 on Wednesday.
The Related Press
What to observe at the moment
Statistics Canada will launch gross home product numbers for the third quarter this morning. We’ll additionally get the September survey of employment, payroll and hours. In america, count on the discharge of preliminary jobless claims for the week of Nov. 25, private revenue and consumption knowledge for October, the Chicago PMI for November and pending house gross sales for October.
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Extra massive financial institution earnings are on faucet at the moment, too, with experiences from Royal Financial institution of Canada, Toronto-Dominion Financial institution and Canadian Imperial Financial institution of Commerce.
Labour Minister Seamus O’Regan takes half in a dialog with Empire Membership of Canada chair Sal Rabbani. The dialogue might be centered on an financial replace on the state of labour relations in Canada, and the way enterprise, labour and authorities can work collectively to handle structural adjustments within the labour market and develop the financial system amidst inflation, power transition, automation and different challenges.
Nate Horner, Alberta’s minister of finance, will present an replace on the province’s funds and financial system.
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Extra reporting by The Canadian Press, Related Press and Bloomberg
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