Toronto stocks slip as mixed earnings, Bausch Health weigh
Canada's main stock index slipped on Thursday following a mixed bag of results,
while gloomy forecasts by U.S. companies and an early reading showing the economy contracted again on the other side of the border exacerbated recession fears.
Weighing on the index, Bausch Health (BHC.TO) dropped 51.4% to its lowest level in more than 25 years,
"Resource industries should continue to see a pretty robust earnings growth," said Angelo Kourkafas,
At the same time, the analyst estimates are still fairly optimistic. Given that we have a more challenging macroeconomic environment,
we are likely to see some downward earnings revisions, which could weigh on sentiment a bit.
There were some expectations that they will do a little more both in terms of dividend bump and and earnings growth.