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Market information | LesAffaires.com

(Illustration: Camille Charbonneau)

NEWS ESSENTIALS

• Finish of sanitary measures in China: document oil demand in 2023? The Worldwide Vitality Company (IEA) mentioned the lifting of well being restrictions in China is predicted to spice up international oil demand this yr to a brand new document excessive, whereas value caps imposed on Russia as sanctions might scale back provide once more.

• BNP Paribas obtains the regulatory inexperienced mild for the sale of Financial institution of the West. The French group BNP Paribas has introduced that it has obtained all the mandatory regulatory authorizations to finalize the sale of Financial institution of the West to BMO.

• Rogers and Shaw say their merger wants court docket approval. Rogers Communications’ C$20 billion acquisition of rival Shaw Communications has been delayed lengthy sufficient and have to be cleared regardless of opposition from the Competitors Bureau, the businesses mentioned in authorized paperwork filed Tuesday.

• Shale oil: manufacturing resumes within the 2nd largest area within the US. Oil manufacturing in South Texas, house to the second-largest shale oil area in the USA, is predicted to rise 4% this yr as rising costs enhance drilling and U.S. crude exports attain new data.

• Airways stay optimistic regardless of the financial scenario. U.S. airways which can be posting robust monetary outcomes stay optimistic about journey demand, at the same time as economists and analysts say the danger of an financial downturn has elevated.

TRENDS BEFORE OPENING

Futures for the primary Canadian inventory index are up, supported by power in oil costs linked to the lifting of well being restrictions in China which ought to translate into a rise in demand for gasoline. Wall Avenue futures are barely forward after a blended begin to the earnings season by the massive banks, as buyers await as we speak’s launch of information on producer costs, retail gross sales and industrial manufacturing. European shares are barely forward, benefiting from quite a few bulletins of company outcomes and forecasts. The Japanese Nikkei ended the session at a one-month excessive after the Financial institution of Japan maintained its ultra-loose financial coverage. Gold costs are up, whereas the US greenback is down from its earlier excessive. Canadian producer value knowledge are launched as we speak.

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TITLES TO FOLLOW

• Financial institution of Montreal: the French group BNP Paribas has introduced that it has obtained all the mandatory regulatory authorizations to finalize the sale of Financial institution of the West to Financial institution of Montreal. BNP Paribas added that the closing of this transaction was scheduled for February 1. BMO agreed in December 2021 to buy BNP Paribas’ U.S. division, Financial institution of the West, for US$16.3 billion, the most important acquisition in its historical past and can permit the Canadian financial institution to double its presence in largest economic system on this planet, whereas giving BNP monumental monetary leverage for future transactions.

• Rogers Communications and Shaw Communications: The corporate’s C$20 billion acquisition of rival Shaw Communications has been delayed lengthy sufficient and have to be cleared regardless of opposition from the Competitors Bureau, the businesses mentioned in authorized paperwork filed Tuesday. The businesses will face off in opposition to the Competitors Bureau, which opposes the deal that might create Canada’s second-largest telecommunications firm, at a Federal Court docket of Enchantment listening to on Jan. 24. “This pro-competitive transaction has been delayed lengthy sufficient and needs to be allowed to proceed,” the businesses mentioned in court docket filings. Canada’s antitrust court docket authorized the transaction on December 30, however the competitors bureau appealed the court docket’s determination.

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