More Pain for Canadian Stocks as Earnings Dampen, Scotiabank Says
- S&P/TSX headed for first sequential decline in a year
- Analysts expect earnings to plateau through 2023 and 2024
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Canadian companies are barreling toward even more pain amid an earnings season threatened by market volatility and a recession.
Companies listed on the S&P TSX Composite Index are headed for their first sequential decline in a year, according to analysts at Scotiabank. Earnings per share is on course to contract 4.2% quarter-over-quarter to C$374 from last quarter’s all-time high of C$390 -- suggesting that growth has topped out.