- On Tuesday the Canadian dollar was at its highest level in 3 months boosted by an improved outlook in Europe. As of this morning it’s above par and sits at $1.006 U.S.
- BCE Inc. reported a jump in second-quarter profit, boosted its outlook for the year and raised its dividend. Bell earned $773 million in the quarter, or $1 per share, up from $590 million or $0.76 a share a year earlier.
- Real estate: The Globe & Mail is reporting “Economists are arriving at something of a consensus where Canada’s housing market is concerned, projecting a drop in prices of 10% to 15% over the next few years, and notably in Toronto and Vancouver.”
- Tim Hortons reported that second quarter profit rose 19% to $0.69/share and revenue rose 12% to $785.6 million, topping the $782-million forecast. Same-store sales rose 1.8 percent in Canada and 4.9 percent in the U.S. I guess investors were expecting more as the stock is down 2.45% so far this morning.
- BNN’s top story this morning is Canadian life insurance companies that reported a plunge in second-quarter earnings and warn their profit in coming quarters and years could fall below target. (These companies are widely held in most mutual funds).
- I talked to one reader who got tickets to the free Garth Turner event in Vancouver. The event sold out all 1,214 tickets in one day. I hope you report back to us Steve!
Canadian Performer's Money
Financial education for performing artists
Hey Mate! How’s things going?