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Exxon would once again make a very good profit thanks to natural gas prices. (Photo: 123RF)

ESSENTIAL NEWS

• OPEC + would drastically cut production, unlike the United States. OPEC members and their allies appear set to slash oil production targets when they reach this week, which would limit supply in an already tight market, despite pressure from the United States and other countries to increase production. to limit the price increase.

• Toronto housing sales decline in September as rates rise. Home sales in the Greater Toronto Area fell in September, while the average selling price rose slightly from the previous month, according to data from the Toronto Regional Real Estate Board (TRREB).

• D&D proposes AU $ 1.27 billion for Link’s divisions after the previous bankruptcy. Link Administration received an A $ 1.27 billion offer from the Canadian firm for its banking and corporate market segments, just days after a failed takeover bid by Dye & Durham (D&D) for society as a whole.

• Exxon should once again record a strong profit thanks to natural gas prices. Exxon Mobil hinted on Tuesday that it will post strong third-quarter operating profit, following a previous year’s all-time high, when natural gas profits would offset weakness in its refining and chemicals, according to a regulatory filing.

• The Fed’s slowness in the face of inflation raises fears of a major correction. Faced with growing evidence that easing US monetary policy contributed to the surge in inflation last year, the Federal Reserve now risks taking too far a leap in the opposite direction with its plans to fight it against inflation with aggressive interest rate hikes, even as the global economy falters.

(Re) read all market news

TRENDS BEFORE OPENING

Futures for Canada’s leading equity index are down after two sessions in positive territory as investors eagerly await today’s release of US job market data. US stock futures are down, following the trend seen in European equity markets, after a major rate hike by the New Zealand central bank put an end to hopes of a slowdown in aggressive monetary policies elsewhere in the world. Japan’s Nikkei broke the 27,000 mark for the first time since September 22, benefiting the retail sector. The US dollar is rising and gold prices are falling. Oil prices are slightly ahead of OPEC members and their allies who are meeting to discuss a major supply cut.

TITLES TO FOLLOW

Dye & Durham Ltd: Link Administration received an A $ 1.27 billion offer from the Canadian company for its banking and corporate markets activities, just days after Dye & Durham’s failed takeover (D&D) offer for the entire society. The Australian’s stock progressed during early trading and is nearing its best session in nearly a month. D&D’s offer for these two units of stock registrars came just days after the legal software maker’s $ 1.63 billion acquisition of Link, which failed due to regulatory and regulatory pitfalls. global market volatility. Link said it received an initial offer of A $ 1.1 billion on October 2 for its corporate markets segments and parts of its banking and credit management business. The offer followed D&D’s proposal last week to acquire the company’s Enterprise Capital Markets business for AU $ 950 million. The registrar of the shares said he would consider offering A $ 1.27 billion.

RECOMMENDATIONS

Boyd Group Services: Scotiabank increases its target price from C $ 215 to C $ 225 as the company continues to make progress in bringing its margins back to usual levels.

Vermilion Energy: JPMorgan is lowering its target price from C $ 40 to C $ 38 to reflect the recent decline in commodity prices.

Golden Victory: CIBC cuts its target price from C $ 18 to C $ 15 due to the impact of the ground conveyor failure, which forced the withdrawal of production and cost forecasts for the year 2022.

MAIN INDICATORS ON THE AGENDA

08:15 Official cash reserves (September): previous 107,766 million dollars

08:30 Building permit, var. lie. (August): consensus -0.5%; previous -6.6%

08:30 Balance of trade (August): consensus $ 3.45 billion; previous $ 4.05 billion

08:30 Export (August): Previous $ 68.25 billion

08:30 Imports (August): Previous $ 64.20 billion

13:00 Global global risk (T4): previous 9.10

PUBLICATIONS OF RESULTS

No major results release is scheduled for today

CORPORATE AGENDA

9:00 am Resources of the silver bear: annual general meeting of shareholders

10:00 in the morning. Evertz technologies: annual general meeting of shareholders

All analysts’ forecasts are based on Refinitiv’s I / B / E / S data.

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