April 24, 2013 / 10:04 AM / 4 years ago

Diary - Today in Canada April 24

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TODAY IN CANADA

COMPANY NEWS

Barrick Gold Corp, whose shares have been hit in recent weeks by a string of bad news, reports quarterly earnings. Investor attention will be focused squarely on comments from the company regarding its embattled Pascua-Lama project on the border between Chile and Argentina. The average forecast of analysts surveyed by Thomson Reuters I/B/E/S is for a profit of US$0.89 per share. Barrick will also hold its annual general meeting in Toronto.

Canadian Pacific Railway is expected to post strong first-quarter results, helped by bigger shipments of key commodities and an ambitious cost-cutting program initiated by turnaround CEO Hunter Harrison. Analysts polled by Thomson Reuters I/B/E/S expected a profit of C$1.21 per share at Canada’s second-largest railway, compared with earnings of C$0.82 a share in the same period last year.

Cenovus Energy Inc, Canada’s second-largest independent oil producer, reports quarterly earnings. The average forecast from analysts surveyed by Thomson Reuters I/B/E/S is for a profit of C$0.48 per share.

Canada’s third-largest grocer, Metro Inc, reports quarterly earnings. The average forecast from analysts surveyed by Thomson Reuters I/B/E/S is for a profit of C$1.03 per share.

ECONOMIC NEWS

Bank of Canada Governor Mark Carney and Senior Deputy Governor Tiff Macklem give testimony on their April Monetary Policy Report to the Senate banking committee. It is likely to be Carney’s last testimony in Canada’s Parliament before he leaves office in June to head the Bank of England.

Statistics Canada produces its first look at what crops farmers intend to plant this year, with many in the industry expecting less canola and more wheat. The wild card will be spring flooding, which could seriously delay planting or prevent it in parts of Western Canada altogether.

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