Latest news with #Scotiabank
Globe and Mail
a day ago
- Business
- Globe and Mail
Equitable Bank completes successful issuance of €500 million of covered bonds to further funding diversification strategy
TORONTO , June 19, 2025 /CNW/ - Equitable Bank (the "Bank" or "Equitable"), Canada's Challenger Bank™, is pleased to announce that it has completed its latest offering of €500 million (CAD $789 million ) of covered bonds (the "bonds"). The bonds were issued under the Bank's CAD $3.0 billion Global Legislative Covered Bond Programme (the "program") and represent Equitable's sixth covered bond issuance since the launch of the program in 2021. "We are pleased to see continued investor support for Equitable Bank's covered bond program. This program is a key part of our broader funding diversification strategy, enabling us to execute on our mission to drive change in Canadian banking to enrich people's lives," said Andrew Moor , president and CEO, Equitable Bank. The €500 million 2.375% coupon covered bonds were priced to yield 2.52% and will mature on September 28, 2028 . The bonds are rated Aa1 by Moody's and AA+ with a positive outlook by Fitch. Inclusive of all costs, covered bonds are the most cost-effective wholesale funding available to the Bank. The issuance was completed with Barclays Bank, Commerzbank, DZ BANK, Erste Group Bank, Landesbank Baden-Württemberg, Scotiabank and TD Bank acting as joint lead managers. In the United Kingdom , this announcement is being distributed only to, and is directed only at, persons who: (A) (i) are "investment professionals" specified in Article 19(5) of the Financial Services and Markets Act (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order or (iii) are other persons to whom it may otherwise lawfully be communicated; and (B) are "qualified investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (all such persons together being referred to as "Relevant Persons"). In the European Economic Area (the "EEA"), this announcement is addressed only to and directed only at, persons in member states who are "qualified investors" within the meaning of Article 2(e) of Regulation ((EU) 2017/1129 ("Qualified Investors"). This announcement must not be acted on or relied on (i) in the United Kingdom , by persons who are not Relevant Persons, and (ii) in any member state of the EEA, by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to: (i) in the United Kingdom , Relevant Persons; and (ii) in any member state of the EEA, Qualified Investors, and will be engaged in only with such persons. About Equitable Bank Equitable Bank has a clear mission to drive change in Canadian banking to enrich people's lives. As Canada's Challenger Bank™ and seventh largest bank by assets, it leverages technology to deliver exceptional personal and commercial banking experiences and services to over 742,000 customers and more than six million credit union members through its businesses. It is a wholly owned subsidiary of EQB Inc. (TSX: EQB), a leading digital financial services company with $134 billion in combined assets under management and administration (as at April 30, 2025). Through its digital EQ Bank platform ( its customers have named it one of the top banks in Canada on the Forbes World's Best Banks list since 2021. To learn more, please visit or connect with us on LinkedIn. Investor contact: David Wilkes VP and Head of Finance investor_enquiry@ Media contact: Maggie Hall Director, PR & Communications
Globe and Mail
2 days ago
- Business
- Globe and Mail
Market Factors: New TSX highs come with a caveat
In this edition of Market Factors, I'll detail the dominance of precious metals stocks in the rally from the 2025 lows and also how the real estate services sector is about to be automated. The diversion is Bezos-related and as always we'll look ahead to the important data releases for the next week. It's obviously a good thing when the S&P/TSX Composite Index hits a new high but there's a caveat for this one: performance has been driven by a sector that has little to nothing to do with the domestic economy or innovation. Scotiabank strategist Simon Fitzgerald-Carrier wrote that gold and silver stocks, up 47 per cent and 41 per cent respectively year to date, account for exactly half of the TSX's 2025 return. The impressive dominance of precious metals stocks in driving benchmark returns is even more apparent if we look at the recovery from the 2025 low on April 8. The benchmark's top performer was Novagold Resources Inc., up 85.2 per cent. Seven of the top 12 performing stocks for the April 8 to present period were precious metals stocks (this includes the highly precious metals-focused Sprott Inc.). Uranium stocks were also clearly visible in the top 12 – Cameco Corp. (up 80.9 per cent), Energy Fuels Inc. (63.8 per cent) and Nexgen Energy Ltd. (62.9 per cent) were all there – but let's not get distracted. Mr. Fitzgerald-Carrier attributes precious metals price momentum to uncertainty regarding U.S. tariffs. I also think gold is benefiting from the leadership-related lunatic discount the market is applying to the U.S. dollar. The Scotiabank strategist believes precious metals stocks can continue to outperform. A survey of central banks by the World Gold Council released Tuesday found that 95 per cent of respondents (73 central banks were surveyed) expected central bank gold reserves to increase over the next 12 months. Mr. Fitzgerald-Carrier also expects that rising U.S. inflation will cut into real Treasury yields, putting further downward pressure on the greenback that will push bullion prices higher. Precious metals are a problematic topic in financial theory. Personally I respect the role of precious metals in history and certainly respect the gains recently made by investors in the sector. On the other hand I lean more towards Warren Buffett's view that he'd rather own farmland, which generates annual income. One thing that's certain is that the recent gold-driven highs in the TSX are more proof that global investors are skeptical about the U.S. and aren't assuming that everything's rosy in the domestic economy and corporate world. Morgan Stanley real estate analyst Ron Kamden covers the U.S. but his belief, that AI will soon automate big swathes of public REIT and commercial real estate (CRE) services occupations, will likely have cross-border financial effects. Mr. Kamden believes that 37 per cent of all public REIT and CRE services jobs can be automated by AI. He estimates the cost savings at US$34-billion, or 16 per cent of operating cash flow in the sector. Management, accounting for 17 per cent of occupations, is the most at risk for automation followed by sales (14 per cent), administrative support (13 per cent) and installation maintenance repairs (12 per cent). I'm not sure how AI is going to repair the plumbing but these categories combine for 56 per cent of all jobs in REITs/CRE services jobs. AI applications that replace all these expensive humans, if they come to pass in the U.S., will soon drift across the border. Domestic REIT services CEOs would be negligent not to do so because their operations would become much, much more profitable for owners or shareholders. A lot of people hate Jeff Bezos but I like getting my packages delivered the next day. Mr. Bezos defends his outsize wealth by saying it represents 14 per cent of a company he built, and he helped the rest of the shareholders get wealthy too. He is, objectively, a tremendous executive, so much so that Warren Buffett called him the best business person he's ever seen. It's getting harder to defend Mr. Bezos though. I am a full-on capitalist but not sure that anyone in a healthy society should be rich enough to fund their own space program, for one. He built a massive yacht, which is fair enough, but he also commissioned a US$100-million support yacht called the Abeona for it. That seems a bit obnoxious to me. More recently, Gizmodo reported on an island off Florida nicknamed Billionaire Bunker on which Mr. Bezos owns a house. The island is connected to the mainland by a bridge guarded by dudes with guns to keep the riffraff out but it doesn't have its own water treatment facilities. It turns out that Billionaire Bunker residents are mad because the mainland won't take its sewage without a big fee. Looking for our updates on market movers, analyst actions, stock technicals, insider trades and other daily, weekly and monthly insight? Click here to visit our Inside the Market page. David Berman explains why the Iran-Israel conflict has only had a limited impact on crude oil prices so far Investment scammers are posing as economist David Rosenberg and bilking victims out of hundreds of thousands of dollars Mike Dolan of Reuters cautions that the U.S. dollar exit could be a crowded trade for some time. Meanwhile, Jamie McGeever reports that foreign central banks are shrinking U.S. asset exposure The domestic calendar of economic data releases and major earnings reports remains light for the coming week. It starts with retail sales results for April, which are out Friday. Economists forecast a 0.4 per cent headline gain month over month but a 0.2 per cent drop for the ex-autos reading. CPI numbers for May will be issued next Tuesday but economist guesses at the result are not available. For earnings, Alimentation Couche-Tard reports next Wednesday and analysts predict US$4.88 per share in profits. U.S. data starts with industrial production results for May. An exactly flat month-over-month reading is expected. The Federal Reserve announced no change in interest rates on Wednesday, as widely expected. Carnival Corp. (US$0.239 per share expected) and FedEx (US$5.887) release earnings on Tuesday. See the full earnings and economic calendar here
Cision Canada
2 days ago
- Business
- Cision Canada
Scotia Global Asset Management announces June 2025 cash distributions for Scotia ETFs Français
TORONTO, June 18, 2025 /CNW/ - Scotia Global Asset Management announced today the June 2025 cash distributions for the Scotia ETFs listed on the Cboe Canada exchange, which pay on a monthly or quarterly basis, as noted below. Unitholders of record on June 25, 2025 will receive a cash distribution payable on July 3, 2025, as noted below. For more information on the Scotia ETFs, please visit the Scotia Exchange Traded Funds (ETF) website. Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments, including exchange-traded funds (ETFs). Please read the prospectus before investing. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. About Scotia Global Asset Management Scotia Global Asset Management® is a business name used by 1832 Asset Management L.P., a limited partnership, the general partner of which is wholly owned by Scotiabank. Scotia Global Asset Management offers a range of wealth management solutions, including mutual funds, ETFs, liquid alternative mutual funds, private asset funds and customized investment solutions for institutions and managed asset programs. For more information, please visit About Scotiabank Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at April 30, 2025), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit and follow us on X @Scotiabank.
Yahoo
2 days ago
- Business
- Yahoo
Scotia Global Asset Management announces June 2025 cash distributions for Scotia ETFs
TORONTO, June 18, 2025 /CNW/ - Scotia Global Asset Management announced today the June 2025 cash distributions for the Scotia ETFs listed on the Cboe Canada exchange, which pay on a monthly or quarterly basis, as noted below. Unitholders of record on June 25, 2025 will receive a cash distribution payable on July 3, 2025, as noted below. Scotia ETF name Ticker symbol Cash distribution per unit ($) Distributionfrequency Scotia Canadian Bond Index Tracker ETF SITB 0.045 Monthly Scotia Canadian Large Cap Equity Index Tracker ETF SITC 0.133 Quarterly Scotia Emerging Markets Equity Index Tracker ETF SITE 0.247 Quarterly Scotia International Equity Index Tracker ETF SITI 0.348 Quarterly Scotia Responsible Investing Canadian Bond Index ETF SRIB 0.047 Monthly Scotia Responsible Investing Canadian Equity Index ETF SRIC 0.137 Quarterly Scotia Responsible Investing International Equity Index ETF SRII 0.312 Quarterly Scotia Responsible Investing U.S. Equity Index ETF SRIU 0.070 Quarterly Scotia U.S. Equity Index Tracker ETF SITU 0.076 Quarterly For more information on the Scotia ETFs, please visit the Scotia Exchange Traded Funds (ETF) website. Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments, including exchange-traded funds (ETFs). Please read the prospectus before investing. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. About Scotia Global Asset ManagementScotia Global Asset Management® is a business name used by 1832 Asset Management L.P., a limited partnership, the general partner of which is wholly owned by Scotiabank. Scotia Global Asset Management offers a range of wealth management solutions, including mutual funds, ETFs, liquid alternative mutual funds, private asset funds and customized investment solutions for institutions and managed asset programs. For more information, please visit About ScotiabankScotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at April 30, 2025), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit and follow us on X @Scotiabank. SOURCE Scotiabank View original content to download multimedia: Sign in to access your portfolio
Business Insider
3 days ago
- Business
- Business Insider
TELUS International (CDA) (TIXT) Receives a Hold from Scotiabank
Scotiabank analyst Divya Goyal maintained a Hold rating on TELUS International (CDA) (TIXT – Research Report) today and set a price target of C$3.40. The company's shares closed today at $3.63. Confident Investing Starts Here: Goyal covers the Technology sector, focusing on stocks such as TELUS International (CDA), Kyndryl Holdings Incorporation, and Epam Systems. According to TipRanks, Goyal has an average return of -1.8% and a 45.83% success rate on recommended stocks. In addition to Scotiabank, TELUS International (CDA) also received a Hold from CIBC's Stephanie Price in a report issued on June 13. However, on June 12, Canaccord Genuity assigned a Buy rating to TELUS International (CDA) (NYSE: TIXT). The company has a one-year high of $6.86 and a one-year low of $2.13. Currently, TELUS International (CDA) has an average volume of 557.4K. Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TIXT in relation to earlier this year.
