Canadian stocks dip as oil falls on market nerves
Canadian main index declines as energy stocks weigh after oil prices retreat. U S markets edge higher with Nvidia earnings eyed for guidance on AI driven gains. Dow up 9.98, S P 500 up 8.96, Nasdaq up 29.05. TSX down 89.01. Banks’ results soften amid higher loan loss provisions. The loonie trades at 74.29 US cents. crude at 75.53 per barrel.
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Dow
Nvidia
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TSX
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Bank of Canada
BMO's loan book weighs on quarterly results again
The Canadian lender posted a third quarter provision for credit losses of 906 million, up from 492 million a year earlier, as adjusted earnings fell. CEO Darryl White said provisions will stay elevated amid prolonged high rates, economic uncertainty, and shifting consumer demand, with broad credit stress not confined to any one region or sector.
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BMO Financial Group
Darryl White
White
Bank of Canada
U.S. Federal Reserve
Rising provisions drag on Scotiabank results
The Bank of Nova Scotia posted lower third quarter profits as it increased provisions for bad loans to 1.05 billion up from 819 million last year though down from the prior quarter. Impaired loans fell to 338 million from 399 million. Chief risk officer Phil Thomas praised consumer resilience and noted stabilizing auto loans amid rate cuts.
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Phil Thomas
Scotiabank
Bank of Canada
Scotia
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