|Bid||67.64 x 0|
|Ask||67.70 x 0|
|Day's Range||67.54 - 68.75|
|52 Week Range||66.36 - 78.60|
|Beta (3Y Monthly)||0.97|
|PE Ratio (TTM)||10.11|
|Earnings Date||Aug 27, 2019|
|Forward Dividend & Yield||3.48 (5.08%)|
|1y Target Est||77.15|
Scotia Global Asset Management announces August 2019 cash distribution for Scotia Strategic Fixed Income ETF Portfolio
TORONTO , Aug. 20, 2019 /CNW/ - Xanadu, a leader in photonic quantum computing and advanced artificial intelligence, announced the results of a joint proof-of-concept technology collaboration between the BMO Financial Group and Scotiabank. The organizations set out to discover computational speedups and improved accuracy in the trading products space using a quantum algorithm developed by Xanadu known as quantum Monte Carlo . "Quantum Monte Carlo is perhaps the strongest evidence yet of the huge impact quantum will have on finance," said Dr. Tom Bromley , researcher and project lead at Xanadu.
Let's talk about the popular The Bank of Nova Scotia (TSE:BNS). The company's shares saw its share price hover around...
TORONTO , Aug. 9, 2019 /CNW/ - Scotiabank has unveiled its second Downie Wenjack Legacy Space in Toronto , further signifying its commitment to promoting education and discussion around reconciliation. "We are thrilled to open a second Downie Wenjack Legacy Space, this one fully accessible to the public," said Jon Davey , National Director, Aboriginal Financial Services at Scotiabank. "Scotiabank is proud of its history with Indigenous peoples but recognize that there are opportunities to do more to partner with Indigenous communities and work towards their respective visions for future generations.
(Bloomberg) -- Canada’s labor market stalled for a second straight month as the private sector shed jobs, a sign the nation’s economy may be gearing down in the back half of the year.The country lost 24,200 jobs in July, Statistics Canada said Friday in Ottawa, versus expectations for a gain of about 15,000. That follows a decline of 2,200 jobs in June. The unemployment rate rose to 5.7%, a second straight increase after reaching a four-decade low of 5.4% in May.The labor market appears to be pulling back from a torrid pace that saw 247,500 new jobs added in the first six months of 2019, one of the strongest first half performances on record. The question now is whether the slowdown is simply a natural paring back from an unsustainable pace of employment growth, or the start of a more ominous downtrend.“The Canadian job market remains robust, with unemployment rates remaining near historic lows,” said Brett House, deputy chief economist at Bank of Nova Scotia. Still, the report “may be an early sign of economy-wide cooling into the second half of 2019.”The Canadian currency slipped initially on the report, dropping as much 0.2% to C$1.3259 per U.S. dollar, before returning to gains amid rising oil prices. Yields on two-year Canadian government bonds were little changed.Weaker employment numbers may also stoke bets on Bank of Canada interest rate cuts, though accelerating wages should give the central bank pause when it comes to easing. Evidence of accelerating wages was one of the few pockets of strength, with hourly pay up 4.5% in July from a year ago. That’s the strongest annual rise in a decade and may reflect the effects of labor-market tightening earlier this year.“The report had a bit for both buyers and sellers,” said Simon Harvey, a London-based currency analyst at Monex Europe Ltd, citing the offsetting factors of negative job growth and faster wage gains.At the very least, back-to-back poor readings for employment affirm expectations the economy is slowing from a strong second-quarter performance. The underlying details of the July report were also weak. Hours worked on a year-over-year basis slowed sharply, and the number of people employed by private sector companies plunged by 69,300, the most since the last recession.One area of strength was the construction sector, which recorded a 25,000 gain in employment. Service industries as a whole were the laggards, with a 26,300 drop that was the largest since January 2018. There were declines in both full-time and part-time employment in July.Wages continued to show signs of strength. Annual hourly pay gains are up more than two percentage points from levels at the start of the year.(Adds analyst comments in fourth and eighth paragraphs.)\--With assistance from Erik Hertzberg and Katherine Greifeld.To contact the reporter on this story: Theophilos Argitis in Ottawa at firstname.lastname@example.orgTo contact the editors responsible for this story: Theophilos Argitis at email@example.com, Chris FournierFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Nickel has long had a reputation for being among the most volatile industrial metals, but its biggest daily jump in a decade has left even the most seasoned traders astonished.The metal surged as much as 13%, or almost $2,000 a ton, extending a rally over the past month triggered by speculation that top producer Indonesia might bring forward a ban on nickel ore exports. While the price eased after the nation’s mining ministry denied that any policy changes are imminent, it closed 7.2% higher in London to the highest in more than four years.“You can see that the market is barely trading now because people just don’t know what to do,” said George Daniel, a hedge fund manager at Red Kite who’s been trading metals since 1993. “It could come off from here, but everyone’s just waiting to see if China comes in and buys it again.”Nickel has in recent years become one of the most actively traded contracts on the London Metal Exchange as short-term investors have been drawn to its sharp price moves. Trend-following funds have added fuel to the recent rally, as have options traders who were forced to hedge their exposure as prices started surging late Wednesday, Daniel said.Nickel touched $16,690, the highest since April 2018, and settled up $1,070 to $15,880 at 5:51 p.m. in London, the highest closing price since December 2014. Shanghai Futures Exchange contracts surged by the daily limit, reaching the highest since trading began in 2015.As speculation swirled over Indonesia’s export policy, the country’s director-general for minerals and coal said the industry should follow existing rules and not pay heed to rumors about bringing forward a previously announced ban on exports of nickel ore by 2022.Not JustifiedThere have been no notable changes in fundamentals to justify the bullish mood, Shanghai Metals Market wrote in a note.“Nickel prices are not set by fundamentals at the moment,” Celia Wang, an analyst at trading house Grand Flow Resources, said by phone from Shanghai. “The price surge showed that investors tend to believe the Indonesia ore export ban speculation, otherwise how can we explain the spike?”Technical price movements can be explained by “irrationality,” Nicky Shiels, an analyst at Bank of Nova Scotia, said in an email Thursday. The fundamentals meanwhile have taken a back seat. Shanghai futures’ volume surge amid steady LME trading indicates “speculative interest is in panic mode,” she said.Nickel is by far the best-performing base metal this year, with most other contracts declining. It has benefited from dwindling global stockpiles, long-term prospects for a demand boost from its use in electric-vehicle batteries, as well as concerns that Indonesia could curb supplies.The Asian nation is the world’s top source of mined nickel, most of which goes to China, and its policies to restrict raw materials are closely watched by investors. The government said it will revoke export permits of companies failing to meet smelter construction targets set out by the ministry.Liquidation LikelyInvestors “appear to be positioning for the ore ban to be brought forward,” Citigroup Inc. analysts wrote in a note Wednesday, before the sudden surge in prices. “Were the ban to not be brought forward, substantial liquidation is likely.”The frenzied trading earlier also came as investors grappled with the implications of a weaker yuan. Although China has set its daily fixing weaker than 7 per dollar for the first time since 2008, it was stronger than expected, soothing investor nerves and supporting metals.Nickel’s roller-coaster may also be affecting other LME metals, including aluminum and copper, all of which traded higher on Thursday.“Copper doesn’t know what to do with itself either,” Daniel said. “A lot of people have been short copper and zinc and they just don’t know what to do off the back of this nickel move.”\--With assistance from Eko Listiyorini and Justina Vasquez.To contact Bloomberg News staff for this story: Martin Ritchie in Shanghai at firstname.lastname@example.org;Winnie Zhu in Shanghai at email@example.com;Mark Burton in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Phoebe Sedgman at email@example.com, Pratish Narayanan, Luzi Ann JavierFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Bank of Nova Scotia, Canada's third-biggest lender, said on Thursday it would record a C$300 million ($226 million) gain by reducing its stake in Thailand's Thanachart Bank Public Co (TBank). TMB Bank had agreed in February to merge with TBank in a deal worth up to 140 billion baht ($4.55 billion), making the new entity the sixth-largest bank in Thailand. Scotiabank's stake sale was part of the merger deal between TBank and Thailand's TMB Bank.
TORONTO, Aug. 8, 2019 /PRNewswire/ - Scotiabank announced today it has signed agreements with ING Groep N.V., Thanachart Bank Public Company Limited ("TBank") and TMB Bank Public Company Limited ("TMB") that largely follow the memorandum of understanding announced in February. Scotiabank will reduce its 49% interest in TBank and pursuant to the agreements, will sell its interests in TBank in exchange for cash and shares in TMB (and ultimately the bank resulting from the subsequent merger of TMB and TBank, (the "Merged Bank")).
TORONTO and SANTIAGO, Chile , July 25, 2019 /CNW/ - Scotiabank announced today that it has entered into a long-term bancassurance strategic alliance with BNP Paribas Cardif, the insurance unit of BNP Paribas, as part of Scotiabank's efforts to bring more customer-centric solutions to its customers in the Pacific Alliance Countries. The 15-year strategic alliance between Scotiabank and BNP Paribas Cardif involves the development of protection and insurance solutions to be distributed to Scotiabank's growing 9 million retail customers in the Pacific Alliance Countries, where the combined retail loan book is approximately CAD$55 billion .
Scotia Global Asset Management announces July 2019 cash distribution for Scotia Strategic Fixed Income ETF Portfolio
TORONTO , July 19, 2019 /CNW/ - The Bank of Nova Scotia (BNS or the Bank) announced today the closing of its inaugural USD 500 million 3.5-year Green Bond offering (the Green Bonds), boosting its commitment to Sustainable Business and creating a better future for all. The net proceeds from the Green Bond offering will be used to fund the financing or refinancing, in whole or in part, of eligible green assets, which refer to new or existing assets, businesses or projects that meet the Scotiabank Green Bond Framework Eligibility Criteria, including renewable energy, clean transportation and green buildings. Other areas of investment may include sustainable water and wastewater management, environmentally sustainable management of living natural resources and land use, energy efficiency, terrestrial and aquatic biodiversity conservation, and pollution prevention and control.
TORONTO , July 15, 2019 /CNW/ - British Columbia will lead provincial economic growth this year and next, says Scotiabank Economics in its Q3 Provincial Economic Outlook. The report was released this morning, on the heels of Scotiabank Economics' overall Q3 Global Economic Outlook titled, "The Perils of Trumponomics", published Friday. "With continued strength in job creation and major project activity in 2019 and 2020, British Columbia will lead the provinces with respective real GDP gains of 2.2% and 3.0%," said Marc Desormeaux , Provincial Economist at Scotiabank.
TORONTO , July 15, 2019 /CNW/ - Today, Scotiabank and MD Financial Management Inc. (MD), in collaboration with the Canadian Medical Association (CMA), are announcing a $3.58 million investment to support professional development for family doctors across the country as well as awards and scholarships for medical students and family medicine residents. Scotiabank and MD have also signed a five-year agreement with the College of Family Physicians of Canada (CFPC) and its Foundation for Advancing Family Medicine (FAFM) to support the next generation of family doctors.
TORONTO , July 12, 2019 /CNW/ - Scotiabank Economics today published its Q3 Global Economic Outlookreport. "Following two years of fiscally-induced sugar highs, the US economy is slowing rapidly as that stimulus wanes and Trump's trade policies, threats, and bluffs begin to weigh on US economic activity," said Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank. "Markets are now convinced that the Federal Reserve will cut rates to offset some of these shocks, boost inflation, and insure against possible future damages caused by the President's interventions.
Dividend paying stocks like The Bank of Nova Scotia (TSE:BNS) tend to be popular with investors, and for good reason...