Topic: How To Invest

The Successful Investor Hotline – Friday, January 10, 2020

Article Excerpt

BANK OF NOVA SCOTIA, $71.99, Toronto symbol BNS, is a buy. The bank announced several unusual gains and charges that will increase after-tax earnings for its fiscal 2020 first quarter, ending January 31, 2020, by $175 million. To put that amount in context, Bank of Nova Scotia earned $2.26 billion, or $1.82 a share, in its fiscal 2019 fourth quarter, ended October 31, 2019. Investors should note that the biggest item is a $460 million gain on the recent sale of Bank of Nova Scotia’s 49% interest in Thailand’s Thanachart Bank Public Company Limited. That $460 million gain was offset by several charges, including writedowns of certain investments and software. As well, a change in the way the bank assesses potential loan losses will increase its allowance for loan losses in the current quarter by $110 million (after-tax). Bank of Nova Scotia recent coverage: Hotline for November 29, 2019 Hotline for October 4, 2019 CAE INC., $38.71, Toronto symbol CAE, remains a buy for our…

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