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- Türkiye Cenbank Slows Easing with 100-point Cut, Flags Inflation Risk
06/06/2009 00:00 AST
At least two brokerages upgraded Canadian Western Bank (CWB.TO), citing improved credit quality and margin expansion outlook for the bank.
On Thursday, Canadian Western Bank reported a 15 percent fall in quarterly profit, but said margin improvement was seen in the latter part of the second quarter and it expected that trend to continue through 2009.
Dundee Capital Markets upgraded the bank to "neutral" from "sell" and said it expects the regional banks to perform much stronger than the "Big 5" over the next 12 months.
"We believe that margins are likely to experience expansion over the coming quarters," the brokerage said.
It also raised its price target on the stock to C$15 from C$12.50.
BMO Capital Markets upgraded Canadian Western to "outperform" from "market perform," saying that while credit would continue to challenge the bank in coming quarters, the bank should be able to move spreads higher in 2010.
The brokerage also raised its price target on the stock to C$17 from C$10.50.
Genuity Capital Markets raised its price target on the stock to C$19 from C$18, saying it was comforted by the banks benign credit trends to date and a much improved outlook for margin expansion.
Shares of the Edmonton, Alberta-based bank were up 83 cents to $15.52 Friday on the Toronto Stock Exchange.
Reuters
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
24/10/2025
Türkiye's central bank slowed its easing cycle with a 100 basis-point cut to 39.5% in its policy interest rate on Thursday, as expected, flagging renewed inflation risks that pointed to a slowdown in
Asharq Al Awsat
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Egypt and the EU have signed a ?4 billion ($4.63 billion) agreement to launch the second phase of the Macro-Financial Assistance and Budget Support Mechanism, aimed at strengthening the country's mac
Arab News
22/10/2025
China's wind power industry is going all in - and fast.
Industry leaders just announced plans to double the number of new wind turbines it installs each year over the next five years, as par
AFP
22/10/2025
The global market for environmental, social and governance sukuk reached a record $6.5 billion in the third quarter, bringing total issuance this year to $13.5 billion, Fitch Ratings said.
Arab News
21/10/2025
President Donald Trump expressed confidence on October 20, 2025, that he would soon secure a "fantastic" trade deal with China despite ongoing tensions over tariffs and rare-earth minerals.
AFP
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