Five things to watch for in the Canadian business world this coming week

TORONTO – Five things to watch for in the Canadian business world this coming week:

Railroad revenues

The country’s two largest rail companies will report their first-quarter results this week. Canadian National Railway Co. will release its results after the financial markets close on Tuesday, while Canadian Pacific Kansas City Ltd. will publish its results before markets open on Wednesday.

Deliberations of the Bank of Canada

The Bank of Canada will release on Wednesday its summary of monetary policy deliberations for its interest rate decision earlier this month. The central bank kept its key interest rate target at five percent, but Governor Tiff Macklem said it was “within the realm of possibility” he could cut rates in June.

Metro Results

Grocer Metro Inc. will report its second-quarter results and hold a conference call with financial analysts on Wednesday morning. The results come as discussions over a code of conduct for supermarkets continue. The sector has come under scrutiny as food inflation has outpaced the overall increase in the cost of living.

Retail

Statistics Canada will release February retail sales data on Wednesday. The agency said last month that January retail sales fell 0.3 percent to $67.0 billion for the first month of the year, but its early estimate for February pointed to a 0.1 percent increase.

Resources sector results

Quarterly results are expected this week from some of the big names in Canada’s resources sector. First Quantum Minerals Ltd. will report after the close of trading on Tuesday and hold a conference call on Wednesday. Teck Resources Ltd. is expected to report its results before markets open on Thursday, while Agnico Eagle Mines Ltd. expected to report after markets close Thursday. Imperial Oil Ltd. will report its results Friday morning and hold a conference call with financial analysts and investors.

This report by The Canadian Press was first published April 21, 2024.

Companies in this story: (TSX:CNR, TSX:CP, TSX:MRU, TSX:TECK.B, TSX:AEM, TSX:IMO)

The Canadian Press