17:32:43 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,217,526,201
Close 2014-08-15 C$ 72.40
Market Cap C$ 88,148,896,952
Recent Sedar Documents

Globe says RBC, others seen as having room to run

2014-08-18 09:04 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Monday edition the biggest banks are on a roll, and little in the current landscape seems capable of slowing them down. The Globe's Tim Kiladze writes that for close to two years there were warnings of weaker earnings, but the banks kept proving their critics wrong. U.S. equity markets went on a tear in 2013 and now Canadian stocks are on fire, helping the banks earn higher fees on their assets under management. Investors will get their first look at the extent to which the sustained Canadian rally boosts bottom lines when Royal Bank of Canada becomes the first lender to report earnings Friday. The bank's results, as well as those of its Big Six rivals, are also widely expected to show a big uptick in capital markets revenues. National Bank analyst Peter Routledge forecasts that capital markets income for the Big Six banks climbed 12 per cent in aggregate in the quarter ended July 31. This resurgence means bank stocks have extra room to run as investors start to reprice market values. Said CIBC's Rob Sedran, "It would appear that while the Canadian banks have seen a run-up in share prices and valuations, these levels are far from out of the ordinary."

© 2024 Canjex Publishing Ltd. All rights reserved.