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Toronto-Dominion Bank
Symbol TD
Shares Issued 1,748,517,496
Close 2024-11-12 C$ 78.33
Market Cap C$ 136,961,375,462
Recent Sedar Documents

FP/wire say CIBC, rivals hear Trump good for business

2024-11-12 08:49 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)

The Financial Post reports in its Tuesday, Nov. 12, edition that investors in Canadian financial stocks are poised to benefit from Donald Trump's return to Washington with an agenda to cut taxes and regulations, analysts and strategists say. A Bloomberg dispatch to the Post says that some of them believe Canada's biggest banks are still undervalued, even after a 30-per-cent rally in the past year, and say the shares will keep rising with help from anticipated strength in the U.S. economy. Shares of the largest banks in the U.S., including Citigroup, JPMorgan and Goldman Sachs Group, surged last week after Donald Trump triumphed and his Republican allies took control of the Senate. BMO strategist Brian Belski says, "The big winner going forward is going be financials in Canada" because of the success American banks have already seen. The six largest banks make up about 20 per cent of the S&P/TSX Composite Index and other financial stocks, including Brookfield, represent another 12 per cent. National Bank of Canada analyst Gabriel Dechaine says that among Canadian banks, Bank of Montreal and Royal Bank of Canada are the biggest winners from a Trump victory.

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