June 12, 2008 / 1:58 PM / 9 years ago

Canaccord swings to a loss on ABCP costs

TORONTO, June 12 (Reuters) - Independent investment bank Canaccord Capital CCI.TO said on Thursday it swung to a fourth-quarter loss, as it booked costs associated with the buyback of frozen commercial paper from its retail clients.

Canaccord said it lost C$35.2 million ($34.5 million), or 80 Canadian cents a share, in the three months ended March 31. That compared with profit of C$26 million, or 54 Canadian cents a share, a year earlier. ($1=$1.02 Canadian) (Reporting by Leah Schnurr; Editing by Scott Anderson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below