BNN - Friday, May 24, 2024 - 03:00 p.m. (ET) - Segment #4

business. So that's a function of very accommodating and supportive financial market conditions that could change. We don't know. We can't predict that, but that's not a reliable recurring stream their core earnings. And the market may not necessarily the ward banks that earning expectations purely on capital markets and wealth management, especially when the underlying banking are favourable at the moment where you have net interest margin contraction and credit losses continue to move higher. So if we go through next week and we have beats, which are more likely now given to these results based on capital markets in walton, better, but the canadian or international banking franchise are doing fair and poor. His margins are contrary to bank wasn't good. >> The margins within expand the and like it could have a good quarter. But the outlook for margins td expects margin contraction now canada. Okay, so what is outside of the mls is what is to tell you about what we're likely to see it from the rest of the canadian banks. It sounds like good capital markets that margin expansion is is sort of an outstanding question, might be bank specifics. So I think if the strong results for capital markets and wealth management carries over to the rest of the banks to going to see more likely than not beats. >> Next week, unless we get a one-off surprises either. Higher credit loss than expected other items that are more difficult to predict. The bigger issue is that if all banks also reflect the transfer td, which is marching attraction U.S. banking and limited or no margin expansion of banking and credit losses. Or can you continue to move higher? You may not see a positive reaction by the market because going to look ahead to weakness unnecessarily bank on financial market conditions remaining you have a seller reduce all the canadian banks except one canadian western bank. What do you like? >> Its discounted pretty substantially stream below book value and the difference between western bank and other banks are just kind of like a scotia. Rtd is your current bank specific risks for key western bank like a transition to a new ceo or a new strategic plan or mla regulatory issues. So what's cwb historically, they've done better on credit losses to cycle. Typically stable interest margin, so they should be able to perform fairly well as we move through this and it's is one of the only banks in the space that I think is trading at a significant discount without a specific identifiable risk that would justify the discount. >> All right, that was nigel d'souza joining us from task. We're going to take a quick break when we come back. Even with the gains that we are seeing today, the s&p still poised to close out the week, a little bit lower flat. >> Who knows? It could change are really on a knife, said scheer. We'll get perspective with bloomberg's vince cignarella. It's spring time in paris and the kings and queens of clay have come out to play Tennis played on another planet That is a piece of art right there Ooo lala! Roland garros on tsn and tsn+ (Funky hip hop music) Energy Fuels, a leading American uranium producer, is ramping up production to supply expanding nuclear markets and diversifying into rare earth elements, key ingredients in many clean energy and defense technologies. Energy Fuels. ( ) ( ) The infiniti qx60 exemplifies modern luxury. With powerful suv performance, three rows of comfort, and a sleek-yet-daring design. ( ) Lease a 2024 qx60 from 0.99% apr for up to 24 months. Visit INFINITI.ca. ( ) -Last quarter Capital Direct investors saw a return of over eight percent. -Find out why so many people have been trusting Capital Direct for over sixteen years. -Speak to your financial advisor today and ask for a copy of our offering memorandum. CapitalDirect.ca Find a great deal foryour ideal hotel.Open trivago, type inwhere you want t select your check-in andcheck-out dates and search. Compare prices forthe same hotel and save up to $50 a night. Hotel? trivago. - [Narrator] The Ninepoint Energy Fund managed by Eric Nuttall. Generating long-term alpha in the energy sector through conviction and access. Number one Energy Fund in the Morningstar energy equity fund category for 3, 5, 10, and 15-year performance. Available under ticker nnrg. The main focus of Urbana is asset growth. Building the assets of this company. We invest in public securities. Everybody does that, but we also combine it with private equity investments, which is very, very important.

And that's where you can make some real money. And the beauty is you're buying it at a discount a discount from asset value. I think we do contain risk extremely well. We have a very, very experienced team and we've got results over a long term period of time. (Funky hip hop music) you are watching close on bnn bloomberg. We are about 10 minutes away from the end of the trading day. Let's bring in bloomberg's stephanie pUSED for a look at the big moves we're seeing on the tsx today. Stephanie, what are you watching? >> Hey, amber, happy friday. I'm watching shares of lightspeed commerce. They are up as much as 6% today, which was about its biggest intraday gain roughly a week. It was enough to put it among the top performers on the tsx today. So this came after cibc analyst todd coupland upgraded the e-commerce firm to outperform rating from neutral rating, which is their way of upgrading to a buy from hold. The analyst was impressed by some recent remarks lightspeed cfo, asha book, shawnee during the cibc tech conference where she provided more details on ways that the company was going to focus on growth and even dog expansion this year. The analysts said that she's able to provide more credible. Deers are more detail on credible sources. And that gave the cibc team more confidence that lightspeed well positioned to execute growth on these areas. So viewers may recall that when lightspeed founder dax dasilva return to the home. He said the both growth and profitability are important, but he placed a greater emphasis on so investors will come to that approach. We saw the stock surging by double digits on the day that they reported earnings earlier this month and was announced that silva would be the permanent cfo or ceo going forward gildan activewear, another name I'm watching those shares moved up as much as 5% biggest gain since march and will quickly go through the details since we've been covering the story. All are looking at the story all this came after the entire board of directors and ceo vince tyra left the company, thus ending a long-standing boardroom brawl and give it a victory too. Activist browning west, which was looking to get former ceo glenn chin on reinstated. So investors and analysts alike, we're looking at this news positively today, some analysts argue that this brings more certainty the next a 5 month long battle. So national bank said bringing inc mondi would browning was slate of should bring period of increased focus and execution on some of the areas that is hoping to expand upon and but acknowledge that the company is still facing some that the challenge of reinvigorating growth amid some uncertainty here. Likewise from td callan, brian morrison said that that the combination of low-cost manufacturing knowledge and the improved governance from the incoming board should of position for material gain. So bright future as long as they can navigate a short-term uncertainties. It seems. Amber, thank you very much. Says bloomberg. Stephanie hughes. A reporting and some of the canadian movers. >> Before close out the trading day, let's take a look at some of the U.S. action. We've got bloomberg's. >> Vince cignarella. And today, it was kind mixed hodgepodge day for economic data, durable goods doing better kind of a polar opposite of the last time we got consumer sentiment sentiment rose, better inflation expectations coming down. I think the last reading was was the opposite right? >> Yeah, no, absolutely. And markets to part with that. I mean, give markets the cousin maybe a is peace and follows through next week consumers follow through spending and savings data next week that we might be on the road to the said cut sometime this year and maybe around that september date as opposed to waiting to get into the year. Market just looking little bit hard to take, looking a little tired. Well off the highs from after those readings. Not so sure if result us holiday weekend may be seeing some profit taking from yesterday. Traders just positioning into that we can not wanting to carry too much risk. So pairing back a few things. Tech, however, still holding up and that that should give

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