Here are five things you need to know this morning.
August 12, 2024 at 10:11AM EDTHere are five things you need to know this morning:Indeed, after the tumult of last week, the S&P 500 managed to escape the week with only a 0.04 per cent decline. The TSX finished higher last week and is up six of the last seven weeks. This week’s test will come in the form of inflation south of the border. Producer prices Tuesday and consumer prices Wednesday. With the markets betting on a 50-basis-point rate cut in September, inflation better play along.
south of the border. They are doing the deal at a 17 per cent premium to where Keycorp closed on Friday, working out to about US$2.8 billion for Scotia – their largest deal since buying Tangerine back in 2012. While it is a nice premium for KeyCorp shareholders, it is still below where it traded before the Silicon Valley Bank collapse. Investors seem okay about this for Scotia, with the stock down only about two per cent on the deal.
Market Call favourite Osisko Mining will be taken out at a 67% premium thanks to a deal from Gold Fields:is a pretty penny above where it traded yesterday and over the last 10 years is generally where the stock has peaked out. For Gold Fields, it represents an expansion opportunity in Quebec after losing out on their bid for Yamana in 2022.It’s an all-stock deal and. Tourmaline shareholders appear on board despite the share dilution, with the stock popping one per cent at the open.
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