Canadian equities have started the day in positive territory

The Midday Update

Written by Lynn Healy-Goulet
March 20, 2018

Canadian equities have started the day in positive territory. The S&P/TSX Composite index is up 0.2%, with seven of eleven sectors in the green at midday.

In corporate news, BlackBerry Ltd. (BB) and Microsoft Corp. (MSFT) announced a strategic partnership to enhance the security of mobile Microsoft Office 365 applications used by enterprise customers. The market reacted favourably to the news, driving BB shares higher. Shares of Alimentation Couche-Tard Inc. (ATD.b) are in the red today after the company announced Q3F2018 results. Revenue of US$15.79bn was largely in line with the consensus estimate of US$15.54bn, but adj. EPS of US$0.54 fell short of the US$0.74 consensus estimate. The Scotiabank GBM analyst ascribed the miss to a weaker-than-expected U.S. fuel margin, a YOY decline in European merchandise gross margin, and increased hurricane clean-up costs.