By Commodity News Service Canada
Aug. 24 (CNS Canada) – The Canadian dollar was gently climbing this morning at 79.81 cents U.S. at 8:15 a.m. CDT (C$1. per US$1.2530). The loonie closed Wednesday at 79.59 cents U.S. (C$1.2564 per US$1).
Futures markets appeared hopeful, ahead of an annual gathering of central bankers at Jackson Hole, Wyoming. The S&P/TSX was up 19.15 points to 15,082.31 at the 8:35 a.m. CDT.
The TMX Group, the company that runs the Toronto Stock Exchange, has asked security regulators for more clarity on how to deal with marijuana companies listed in Canada with interests in the United States, where it remains illegal in the eyes of the federal government.
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Canadian Imperial Bank of Commerce has beat analysts’ profit expectations in its third quarter and increased dividend payouts. CIBC generated C$1.1 billion, or $2.60 per share for the quarter ending July 31, but C$2.77 per share when adjustments for one-time items are excluded. Analysts had expected C$2.65 per share. CIBC also increased its dividend by more than two per cent. The bank earned C$1.44 billion in the same quarter in 2016. Revenue of C$4.1 billion was roughly equal to the same quarter a year ago.
