(Bloomberg) -- National Bank of Canada shares rose the most in more than four years to a record high after all of its business segments topped analysts...
-- National Bank of Canada shares rose the most in more than four years to a record high after all of its business segments topped analysts’ profit expectations.The stock climbed as much 5.8%, the biggest intraday gain since May 2020. The increase extended this year’s outperformance by National Bank, which has advanced 25% compared to a 5.7% increase for the S&P/TSX Composite bank index. National Bank’s largest rival, Royal Bank of Canada, is up about 20%.
Profit at the capital-markets business surged 55% from the same period last year, to C$318 million, fueled by global markets and investment-banking revenue growth. Personal and commercial banking earnings increased 15% to C$366 million in the three months ending July 31. The wealth-management and US specialty-finance businesses also posted double-digit gains.
The regulatory approval process for the merger is underway and the two banks are collaborating on the integration road map, Chief Executive Officer Laurent Ferreira said on an analyst conference call. To a cynic, there are many things to forget about America. After all, they invented fame, and they did it very well. This is one of the many things I love about America, as the meritocratic way in which they measure success is fundamentally empowering.A shark attacked and killed a 16-year-old Jamaican high school student whose body was found in waters just north of the island, authorities said.
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