By Reuters Staff
(Updates prices, adds details and sectors)
April 21 (Reuters) - Canada’s main stock index rose on Wednesday as a raft of upbeat corporate earnings lifted investor sentiment and expectations of a swift economic recovery, though lower oil prices capped further gains. At 9:50 a.m. ET (1350 GMT), the Toronto Stock Exchange’s S&P/TSX Composite Index was up 47.51 points, or 0.25%, at 19,087.41. Rogers Communications Inc gained 2.3% after the Canadian telecoms operator trumped first-quarter revenue estimates, buoyed by strong demand in its cable unit that provides internet and cloud-based services. Aiding sentiment, food retailer Metro Inc also beat analyst expectations at 62 cents per share, while revenue rose 5.1% to $3.33 billion from a year ago when analysts had expected $3.31 billion.
By Reuters Staff
(Updates shares, adds rival stocks, comments from conf call, background)
April 12 (Reuters) - Canada’s Aphria Inc reported a loss for the third quarter on Monday as it reeled from fresh coronavirus lockdowns in parts of Canada and Germany, sending its shares down 14% and weighing on other pot producers.
While the pandemic has lifted demand for weed from customers staying at home, sales of cannabis producers suffered during the latest round of restrictions in key markets such as Ontario and Alberta as pot stores were forced to shut.
“The provincial lockdowns were more impactful, particularly in Canada, than we initially expected,” Aphria Chief Financial Officer Carl Merton said on a post-earnings call.
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March 8 (Reuters) - Canada’s health regulator will launch a public consultation program on Monday in its draft guidance for individuals growing medical cannabis at home, hoping to clamp down on people selling weed on the black market.
In the draft document sent to some industry figures and seen by Reuters ahead of publication, Health Canada highlights recent police raids and arrests at production sites where people were using licenses to “cover and support large-scale illegal production and sale”.
The move also comes as Health Canada tries to set right a relatively unstable official market, where illegal sales are one factor undermining the business plans of the dozens of producers and distributors set up over the past five years.
By Reuters Staff
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LONDON (Reuters) - Britain’s Prince Charles on Wednesday criticised those lobbying against coronavirus vaccines, saying they can “protect and liberate” some of society’s most vulnerable members.
FILE PHOTO: Britain s Prince Charles, Camilla, Duchess of Cornwall, visit a pop-up COVID-19 vaccination centre at the Finsbury Park Mosque, amid the coronavirus disease (COVID-19) pandemic, in London, Britain March 16, 2021. Geoff Pugh/Pool via REUTERS/File Photo
In a wide-ranging article for the Future Healthcare Journal in which he called for an integrated approach to healthcare, the heir to the throne also took a swipe at those speaking out against COVID-19 shots.
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(Reuters) - British American Tobacco said on Thursday it will buy a nearly 20% stake in Canada-based cannabis producer Organigram for about 126 million pounds ($175.8 million) as it seeks to expand beyond its main tobacco business.
FILE PHOTO: A cannabis plant is seen in a field at Hermel, Bekaa, Lebanon, July 31, 2013. REUTERS/ Mohamed Azakir/File Photo
Organigram grows cannabis and makes cannabis-derived products in Canada, where marijuana was legalised in 2018.
Big tobacco and liquor companies in North America have already made large investments in the nascent industry, with cannabis seen as a less harmful alternative to cigarettes.
With top Democratic lawmakers in the United States also promising to decriminalise marijuana use, analysts and experts predict record investment in the industry this year.