Canada Stocks Fall as Bank of Montreal Profit Misses Forecasts
This article is for subscribers only.
Canadian stocks fell for a second day as financial stocks retreated after Bank of Montreal’s third-quarter earnings missed the average analyst estimate.
BMO, Canada’s fourth-biggest bank, lost 6 percent after reporting profit excluding certain items 5.6 percent lower than the average projection. Suncor Energy Inc., the country’s largest oil and gas producer, declined 1.4 percent as crude futures slumped for a fifth day. Alimentation Couche-Tard Inc., the owner of Mac’s and Circle K convenience stores, surged 8.2 percent after beating analysts’ profit estimates.