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    NA   CA6330671034

NATIONAL BANK OF CANADA

(NA)
  Report
Delayed Toronto Stock Exchange  -  04:00:00 2023-01-27 pm EST
99.68 CAD   +0.48%
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TSX notches 5.3% gain in November on peak inflation hopes

11/30/2022 | 05:12pm EST

(Adds investor quotes and details throughout, updates prices)

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TSX ends up 175.85 points, or 0.9%, at 20,453.26

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Index posts monthly gain in excess of 5% for 2nd month

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Technology sector jumps 4.6%

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Industrials gain 1.5%

TORONTO, Nov 30 (Reuters) - Canada's main stock index rose on Wednesday to its highest closing level in nearly six months, helped by gains for technology and industrial shares, as comments by Federal Reserve Chair Jerome Powell bolstered investor sentiment.

The Toronto Stock Exchange's S&P/TSX composite index ended up 175.85 points, or 0.9%, at 20,453.26, its highest closing level since June 9. For the month, it was up 5.3%, its second straight month of gains in excess of 5%.

"It does look like Christmas has come early for the TSX," said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth.

"The tone has been positive ever since we hit the lows for the year in the middle of October," Picardo said. "A large part of that has been driven by expectations that inflation will be dropping out here ... Powell's comments cemented that view."

Wall Street ended sharply higher after Powell said the Fed might scale back the pace of its interest rate hikes as soon as December.

Central banks globally have been raising interest rates in an attempt to cool inflation. Investors have worried that the aggressive pace of hikes could tip some major economies into recession.

The Toronto market's technology sector rose 4.6%, helped by a gain of 9.5% for e-commerce giant Shopify Inc.

Industrials climbed 1.5%, while heavily weighted financials ended 0.7% higher.

Financials rose despite a decline of 2.5% for the shares of National Bank of Canada, after the company's move to set aside more funds to deal with bad loans dented fourth-quarter earnings. (Reporting by Fergal Smith; Additional reporting by Johann M Cherian in Bengaluru; Editing by Lisa Shumaker)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.00% 0.7103 Delayed Quote.4.40%
BRITISH POUND / US DOLLAR (GBP/USD) 0.00% 1.2397 Delayed Quote.2.63%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.01% 0.7507 Delayed Quote.1.73%
EURO / US DOLLAR (EUR/USD) 0.01% 1.0866 Delayed Quote.1.78%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.11% 0.012271 Delayed Quote.1.60%
NATIONAL BANK OF CANADA 0.48% 99.68 Delayed Quote.9.26%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.00% 0.6492 Delayed Quote.2.23%
S&P/TSX COMPOSITE INDEX 0.07% 20714.48 Delayed Quote.6.86%
SHOPIFY INC. 3.62% 50.08 Delayed Quote.44.28%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) 0.02% 1.3309 Delayed Quote.-1.64%
All news about NATIONAL BANK OF CANADA
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01/26National Bank Says Canada's Eight Rate Hikes So Far Are Enough
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Analyst Recommendations on NATIONAL BANK OF CANADA
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Financials
Sales 2023 10 543 M 7 919 M 7 919 M
Net income 2023 3 292 M 2 473 M 2 473 M
Net Debt 2023 - - -
P/E ratio 2023 10,4x
Yield 2023 3,98%
Capitalization 33 616 M 25 251 M 25 251 M
Capi. / Sales 2023 3,19x
Capi. / Sales 2024 3,03x
Nbr of Employees 29 509
Free-Float 99,6%
Chart NATIONAL BANK OF CANADA
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Technical analysis trends NATIONAL BANK OF CANADA
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 99,68 CAD
Average target price 103,88 CAD
Spread / Average Target 4,22%
EPS Revisions
Managers and Directors
Laurent Ferreira President, Chief Executive Officer & Director
Marie-Chantal Gingras Chief Financial Officer & EVP-Finance
Jean Houde Chairman
Julie LÚvesque Executive Vice President-Technology & Operations
Pierre Thabet Independent Director