|Bid||110.90 x 0|
|Ask||110.92 x 0|
|Day's Range||110.00 - 110.98|
|52 Week Range||97.55 - 116.51|
|Beta (3Y Monthly)||1.21|
|PE Ratio (TTM)||9.72|
|Earnings Date||Nov. 27, 2019 - Dec. 2, 2019|
|Forward Dividend & Yield||5.76 (5.23%)|
|1y Target Est||111.27|
TD Bank's (TSX:TD)(NYSE:TD) diversification south of the border and expected earnings growth are two reasons why it is better positioned than most.
(Bloomberg) -- Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast.Pound traders are holding on to Brexit optimism as talks toward a divorce deal remain stuck over the contentious Irish border.Sterling touched a five-month high Wednesday after surging the most since 2008 in the past four days as an end to the Brexit saga appeared to be in sight. The currency swung between losses and gains as the Democratic Unionist Party denied reports it may support some of the latest proposals, an issue that has risked collapsing this week’s talks.Still, for currency traders there seems to be a silver lining with the intensity of the negotiations spurring confidence there is the political will on both sides to avoid a no-deal Brexit. U.K. Brexit Secretary Stephen Barclay told a parliamentary committee Wednesday that Prime Minister Boris Johnson will seek an extension on Saturday if a deal hasn’t been reached by then.“Sterling performance remains binary and reflects the tone of the negotiations,” said Jeremy Stretch, head of Group-of-10 currency strategy at Canadian Imperial Bank of Commerce. “Rumors of DUP resistance take sterling lower, hopes for a resolution in Brussels take it higher. It feels like the market is increasingly confident a deal will be done, or perhaps more accurately it’s more confident of no-deal being avoided, encouraging paring of pound shorts.”The currency market hasn’t been this twitchy over Brexit since the aftermath of the referendum that set off the process in 2016. The past few days have seen conflicting Brexit headlines forcing traders to reposition for a swift and brutal move once clarity emerges.The pound steadied at $1.2784 by 1:40 p.m. in London, whipsawing between a drop of 1% and a five-month high of $1.2840. U.K. government bonds erased most of their gains, with 10-year yields down one basis point to 0.68%, while the U.K.’s domestic-focused FTSE 250 stock index fell 0.3%.Short CoveringSome of the apparent pound optimism could come down to investor positioning, according to Nomura International Plc strategist Jordan Rochester. The market was overwhelmingly in favor of selling sterling and asset managers and hedge funds still hold short positions overall, according to the latest data from the Commodity Futures Trading Commission.“I have been impressed how the market has been taking every negative headline as an opportunity to buy back the pound here, a sign perhaps that despite the move, positioning is still long euro-sterling,” said Rochester. “The pound is failing to truly break lower on this bad news.”The euro only gained 0.1% against the pound to 86.35 pence, after rallying as much as 1%. Hedge funds were seen selling the euro at around 87 pence, according to traders in Europe, who asked not to be named as they were not authorized to comment.Time is running out to secure a Brexit deal before this week’s summit of European leaders, as Johnson struggles to win the support of the DUP. EU officials are also concerned the revised plan leaves open the possibility that Britain could undercut the bloc in certain areas.Option traders are pricing high levels of volatility over the coming week. One-week implied volatility in the pound-dollar pair surged to 20.07%, the highest since July 7, 2016.Morgan Stanley sees a 65% chance of a Brexit deal, up from 55% last week. However, the bank expects Parliament to reject it, which it sees leading to a further extension and elections to decide the way forward on Brexit. The pound would likely drift higher toward $1.30 in this scenario, the bank said.\--With assistance from Vassilis Karamanis.To contact the reporter on this story: Charlotte Ryan in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Paul Dobson at email@example.com, Neil Chatterjee, William ShawFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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TORONTO, Oct. 7, 2019 /CNW/ - CIBC (TSX:CM - News) (NYSE:CM - News) employees, families and friends raised an estimated $3 million yesterday for the 28th annual Canadian Cancer Society CIBC Run for the Cure. With a shared purpose to create a future without breast cancer, 15,000 members of Team CIBC proudly came together with thousands of Canadians, many of those impacted by the disease. "Team CIBC is passionate about uniting with Canadians to make breast cancer beatable.
Canada Goose Holdings Inc (TSX:GOOS)(NYSE:GOOS) has been one of the best growth stocks on the TSX in recent years, but it's far from a risk-free investment.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Canada’s trade gap narrowed on a gain in energy and aircraft shipments, though overall export volumes continued to decline, clouding the picture on an otherwise better-than-expected result.The nation posted a C$955 million ($716 million) trade deficit in August, from a revised C$1.38 billion in July, Statistics Canada said Friday in Ottawa. The result surprised to the upside, beating economist expectations for a C$1.2 billion deficit.Canadian shipments have stabilized this year after suffering a harsh end to 2018 on weak oil exports. Still, exports on a volume basis, which strip out price effects, have struggled in recent months, and are down 1.4% since peaking in May. Economists expect the country’s output growth to slow to 1.5% in the third quarter, partly on global trade tensions, after a 3.7% expansion in the prior period.“While the headline was slightly better than consensus and have short-end yields in Canada a touch higher, the details were somewhat softer,” Royce Mendes, an economist at CIBC in Toronto, said in a note to clients. While two-way trade was up because of the gain in exports, “the details suggest that might not mean all that much for August GDP,” he said. Total exports increased 1.8% in August after falling for two consecutive months. Shipments of business jets to the U.S. led gains in aircraft trade, while higher crude oil prices drove energy product exports. On a volume basis, exports dropped 0.2%.Metal and non-metallic mineral shipments were the largest contributor to the 1% gain in imports in August. Gold imports reached the highest level in more than two years, reflecting an increase in asset acquisitions by Canadian companies. In volume terms, imports rose 1.2%.The currency pared gains after the report, and was trading 0.2% higher at C$1.3308 against its U.S. counterpart at 8:40 a.m. Toronto time. Two-year government bond yields rose 1 basis point to 1.43%.Canada’s trade surplus with the U.S., its main trading partner, widened to C$4.9 billion in August as export gains outpaced imports. Exports to China expanded despite disruptions to commerce between the two countries amid a diplomatic dispute involving the arrest of a top Huawei Technologies executive on a U.S. extradition request.July’s trade deficit was revised to C$1.38 billion, after an initially reported shortfall of C$1.12 billion, the statistics agency said.\--With assistance from Erik Hertzberg.To contact the reporter on this story: Shelly Hagan in Ottawa at firstname.lastname@example.orgTo contact the editors responsible for this story: Theophilos Argitis at email@example.com, Chris FournierFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It’s hogwash to say that Royal Bank of Canada (TSX:RY)(NYSE:RY) and Canadian Imperial Bank of Commerce (TSX:CM)(NYSE: CM) couldn’t withstand a housing crash.
TORONTO, Sept. 26, 2019 /CNW/ - With summer vacation in the rearview mirror, many Canadian entrepreneurs may be asking: "what vacation?" The new CIBC SmartBanking™ for Business Survey of 1,005 business owners across the country reveals that four-in-10 (39 per cent) have taken little or no vacation time in 2019 and life for many has become more stressful with less leisure time since starting a business.
Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) and Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) are enjoying a nice recovery. Is one bank stock a better buy today?
CIBC Innovation Banking has announced a US$5 million growth capital financing for search intelligence provider Adthena. The growth capital will be used to support the Company’s international expansion and provide added fuel for its technology investment plans.
MONTREAL — The chief executive of CIBC says the bank is starting to "reorient" its Canadian mortgage strategy after having too large a focus on two large markets and not enough on the rest of the country.Victor Dodig says that the Toronto-based lender had veered a little too far in slowing mortgage growth and the bank had "fallen short" for investors.He says that after the adjustments in the domestic mortgage market, CIBC is now "starting to see green shoots."Dodig's comments came during a discussion at a CIBC investment conference in Montreal today. CIBC's mortgage balances have stayed relatively flat at $201 billion in its latest quarter, down slightly from $203 billion during the same period a year earlier.Of that $201 billion in its third quarter, $63 billion came from the Greater Toronto Area and $27 billion came from the Greater Vancouver Area.This report by The Canadian Press was first published Sept. 25, 2019.Companies in this story: (TSX:CM) The Canadian Press