CANADA DAYBOOK: Canadian Tire, BCE to Report Earnings
ECONOMY: *Statistics Canada publishes its new housing price index for March at 8:30 a.m. and economists forecast a 0.3 percent gain.
EVENTS: *BCE, (BCE) Canada’s largest phone company, is scheduled to release first-quarter earnings before the market opens. The average profit estimate among 17 analysts in a Bloomberg survey is 69 Canadian cents a share, excluding certain items. *Tim Hortons Inc., the country’s biggest fast-food chain, is to report first-quarter financial results before the market opens. Analysts forecast the company will report profit of 51 Canadian cents a share, excluding certain items, according to the average of 12 estimates in a Bloomberg survey. *Canadian Tire Corp., Canada’s biggest general-goods retailer, is to release first-quarter financial results. The company will report profit of 72 Canadian cents a share, excluding certain items, according to the average of seven analyst estimates in a Bloomberg survey. *Talisman Energy Inc. (TLM), an oil and gas producer with operations in North America, the North Sea and Indonesia, is to hold an investor day beginning at 8:30 a.m. in Toronto. *Lundin Mining Corp. (LUN) and Inmet Mining Corp., are among companies scheduled to appear at Bank of America Merrill Lynch’s 2011 Global Markets and Mining investor conference in Barcelona. *Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer producer, holds its annual meeting in Saskatoon, Saskatchewan at 12:30 p.m. Toronto time. The meeting will be webcast at www.potashcorp.com. *Bank of Montreal (BMO) Vice Chairman Kevin Lynch is scheduled to speak at a luncheon hosted by Consul General of Canada John Prato at the ‘21’ Club in New York.
MARKETS: *The S&P/TSX (SPTSX) fell 1.6 percent yesterday to 13,419.74. *Yields on two-year Government of Canada bonds fell 3 basis points to 1.7 percent yesterday. *The Canadian dollar weakened 0.4 percent to 96.11 cents per U.S. dollar in Toronto.
To contact the editor responsible for this story: David Scanlan at dscanlan@Bloomberg.net