Scotia Capital News
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Moore Capital Management LP and Appaloosa Management LP are among hedge fund firms that counted Citigroup Inc. among their top holdings before the bank posted a 16 percent rally in a month and a half.
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The Canadian dollar gained for the first time in five days versus its U.S. counterpart after American industrial production dropped in April by the most in eight months.
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Mexico’s highest-rated junk bonds are saddling investors with the biggest losses in emerging markets as the nation’s homebuilders collapse.
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The Canadian dollar strengthened the most in almost four months versus its U.S. counterpart as crude oil, the nation’s largest export, rallied the most since June and other commodities rose.
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Capstone Mining Corp., the owner of copper mines in Mexico and Canada, agreed to buy BHP Billiton Ltd.’s Pinto Valley mine and a railroad in the U.S. for $650 million in cash, marking its biggest acquisition.
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Celestica Inc. is betting on industries from health care to aerospace to fill the sales void left by BlackBerry, which a year ago made up 19 percent of the electronics-parts supplier’s revenue.
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The Canadian dollar rose against the majority of its 16 most-traded peers as crude oil, the country’s largest export, rose for a third day and traders bet the country would be less affected by falling metal prices.
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Argentina may learn at any time whether a U.S. appeals court will rule that it must pay $1.4 billion to holders of its defaulted debt, something the South American country has resisted for more than a decade.
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Argentina, which defaulted on a record $95 billion in sovereign debt in 2001, proposed giving holders of $1.3 billion of the repudiated bonds about one-sixth of what a U.S. judge has said they’re entitled to receive--a move one analyst called “thumbing its nose at the court.”
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The Canadian dollar fell against its U.S. counterpart for the first time this week as U.S retail sales dropped the most in nine months and on reports that steps to strengthen Europe’s financial system were faltering.
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