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Company News

BUZZ-Bank of Montreal: Falls after Q2 profit miss

** Shares of Canadian bank fall 2.6% to C$100.35

** Co posts adj. net income of C$2.30/shr vs analysts’ est of C$2.33/shr

** Growth in its Canada personal and commercial banking unit was not as strong as analysts had expected

** “The biggest concern we have at first look is the weakness in Canadian P&C banking” - Credit Suisse analyst Mike Rizvanovic

** Co expects costs to rise in the range of 3% to 4% in H1 2019

** Despite Wednesday’s losses, stock up 12.5% so far this year (Reporting by Debroop Roy in Bengaluru)

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