January 17, 2021

On Friday, the S&P 500 was down 0.7% and Toronto as down 0.3%.

AutoCanada bounced down 6.9%. 

Melcor Developments was up 5.5%. 

Couche-Tard was up 4.7% possibly because its deal to buy Carrefour in France looked in doubt and analysts dod not like that deal. Now that deal has been called off officially but the two companies have an analyst call first thing Monday morning to explain how the two will cooperate to the benefit of both companies. Presumably, Couche-Tard will rise on this news.

On Sunday evening there is news that Joe Biden will cancel the permit for THE Keystone XL pipeline on Day 1. That is a blow for Alberta and TC Energy which were hopeful he would change his mind on that pipeline if they mixed it in with some other environmental agreements that he would like. Whoops. Possibly the railroads will rise on this news as more oil will go by rail.

 

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