Five things to watch for in the Canadian business world this week
Canadian Pacific Railway locomotives sit in a rail yard in Montreal on May 23, 2012. (THE CANADIAN PRESS/Ryan Remiorz)
The Canadian Press
Published Sunday, July 14, 2019 10:42AM EDT
Last Updated Sunday, July 14, 2019 11:07AM EDT
TORONTO -- Five things to watch for in the Canadian business world in the coming week:
June housing numbers
The Canadian Real Estate Association is expected to release home sales figures for June on Monday. Last month, the association upgraded its forecast for 2019 home sales after reporting sales in May climbed 6.7 per cent compared with a year ago, the largest year-over-year increase since 2016.
CP Rail update
CP Rail will hold a conference call on second-quarter earnings on Tuesday. The Calgary-based railway boosted its quarterly dividend by 27.5 per cent in May, nearly two weeks after CP Rail's profits surged 25 per cent during the winter quarter despite lower volumes caused by frigid temperatures and heavy snowfall.
Statistics Canada will release its consumer price index for June on Wednesday. Last month, the agency reported that the annual pace of inflation picked up in May as the consumer price index rose 2.4 per cent compared with a year ago, its largest increase since October last year.
What's next for Kinder Morgan?
Kinder Morgan Canada Ltd. will host a conference call on Wednesday to discuss its second-quarter results. The Calgary-based company, which was spun off from its U.S. parent in mid-2017 to raise money to build the Trans Mountain pipeline expansion, has been weighing its options since selling the pipeline to the Canadian government, including continuing as a standalone enterprise, a disposition by sale or a strategic combination with another company.
West Fraser earnings
West Fraser Timber Co. Ltd. releases its second-quarter results on Thursday. The Vancouver-based company -- along with competitors Western Forest Products, Interfor, Canfor and Tolko -- has recently announced temporary production curtailments to deal with challenging market conditions.