Canada Stocks Fall After BMO Earnings Trail Analyst Estimates
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Canadian stocks fell for the third time in four days, led by financial companies, after Bank of Montreal reported fourth-quarter earnings that missed the average analyst estimate in a Bloomberg survey.
BMO, Canada’s fourth-biggest lender by assets, lost 3.5 percent after its profit excluding certain items missed the average estimate by 3.4 percent. Copper producer Quadra FNX Mining Ltd. soared 40 percent after agreeing to be bought by KGHM Polska Miedz SA. Petrominerales Ltd., which produces oil and gas in Colombia, plunged 16 percent after halting some production.