On Friday, the S&P 500 edged down 0.1% but Toronto was up 0.4%.
C.N. Rail was down 1.9% as investors worry about the Kansas City Southern potential acquisition which faces a lengthy approval process and which (I understand) would see C.N. pay $1 billion in damages to Kansas City if the deal falls fails to get approval. And they are paying $700 million Canadian to C.P. as the fee to break the deal they had earlier with Kansas City. And even if the deal goes through there is concern about the price paid. Nevertheless, C.N. has a great history and is worth considering at this price.
Canadian Western Bank was up 2.4%. The Canadian banks are expected to post stellar earnings very shortly as they “release” provisions for bad loans (pandemic-related) that have not materialized.
Indications are that the U.S. market will open higher this morning.
Toronto Stock Exchange is closed for the holiday today.