Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
“OUR TAKE: Mixed. We entered Q1 reporting season concerned that the recent rally in Canadian bank stocks has been too fast and gone too far given regulatory and macro headwinds. As a result, we continued to recommend investors favor lifecos over banks, and now that reporting season is done we have even more conviction in that relative sector call.
“The gasoline market began a meteoric rise in 2022 following Russia’s invasion of Ukraine, with prices and [] peaking at record highs in June. Since then, the market has cooled, with gasoline prices in many regions falling 20% or more from the highs by year-end. Record prices and a strong dollar drove demand destruction around the world, while lockdowns caused China’s gasoline demand to fall YoY.
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