5 from 5i: Fintech and Financial advice

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Market View

US President Trump remains confident on resolving trade talks soon despite no evidence. China denounced any ties of China’s Huawei Technologies to the Beijing government. Theresa May resigns after a failed Brexit completion and hopes a new British prime minister with pursue a cleaner break with the European Union. Oil prices rose on escalating US-Iran tensions and as OPEC producers are expected to curb supply this year. Futures for main Canadian indices were up on this news. The Canadian dollar was 74.37 cents and gold rose slightly. U.S. S&P500 was down 0.7% this week and TSX ended the week down 1.1%. 

It was a mixed bag of greens and reds this week. Telecommunications jumped the highest by 2.3%, followed by consumer staples, which hiked 1.8%. Real estate followed by jumping up 1.1%. Energy was hit the hardest by 6.7%, followed by materials, down 4.3%. Healthcare was down 3.4% and financials by 1.0%. Royal Bank of Canada reported a 6% rise in adjusted quarterly profit as it was helped by loan growth in its retail banking business. Adjusted net income available to shareholders rose to $3.16 billion, from $2.98 billion in the second quarter a year earlier. Canadian Imperial Bank of Canada missed quarterly profit estimates driven by slow loan growth. The most heavily traded shares by volume were Stornoway Diamond Corporation, Aphria, and Encana Corp.

5 from 5i

Here are five reads we found interesting last week:

-Fintech and Financial advice

-Diversification using core bond funds and their impact

-Lessons from traders

-Impossible foods isn’t just about burgers

-How to deal with company stock


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