CANADA DAYBOOK: Election Campaign, Nokia CEO Elop’s Speech
Canadian Prime Minister Stephen Harper and opposition leaders wrap up the first week of campaigning for the May 2 election.
WHAT TO WATCH: *Liberal Party Leader Michael Ignatieff will campaign in the Ontario cities of London, Kitchener and Ottawa. Harper is in the provinces of New Brunswick and Prince Edward Island. New Democratic Party Leader Jack Layton is in Sudbury, Ontario. *Harper said yesterday he would issue loan guarantees for up to C$4.2 billion ($4.3 billion) for a hydro-electric power joint venture between the governments of Newfoundland and Nova Scotia. The move is being criticized by the Quebec government, which says the guarantees will distort the electricity market. *Ignatieff promised to spend C$1 billion for new childcare and early learning spaces.
ECONOMY: *Canada’s gross domestic product expanded for a fourth straight month in January, led by a surge in manufacturing. Output rose 0.5 percent during the month, Statistics Canada said, matching the median forecast of 22 economists surveyed by Bloomberg News.
EVENTS: *Nokia Oyj (NOK) Chief Executive Officer Stephen Elop speaks at his alma mater at McMaster University in Hamilton, Ontario, at 2:30 p.m. *Ontario Finance Minister Dwight Duncan makes a post-budget address to the Economic Club in Toronto, at the Sheraton Centre Hotel at 123 Queen St. West from 11:45 a.m. to 1:30 p.m. *Former Bank of Canada Governor Pierre Duguay and assistant bank regulator Mark White speak on bank regulation at the C.D. Howe Institute. Noon to 2 p.m.
EQUITIES: *Allied Properties Real Estate Investment Trust holds a conference call with analysts at 10 a.m. in Toronto to review fourth-quarter earnings. *Bombardier Inc., the maker of trains and airplanes, jumped 13 percent yesterday after reporting earnings that topped the average of 20 analyst estimates by 43 percent.
MARKETS: *The S&P/TSX rose 0.2 percent to 14,116.10, extending its third- straight quarterly gain to 5 percent. *Yields on two-year Government of Canada bonds rose 5 basis points to 1.82 percent yesterday. The Canadian dollar gained as much as 0.3 percent to 96.83 cents per U.S. dollar, the strongest level since reaching 96.68 cents on March 9.
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