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JetBlue has made an unfavorable, all-cash takeover bid for Spirit Airlines. (Photo: 123RF)

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দাবি Ukraine claims victory in Kharkiv, Russians fall behind. Counter-Ukrainian forces pushed Russian forces back northeast of the country and drove them out of the city of Kharkiv, then advancing on the Russian border, according to Ukrainian officials.

• Tesla has suspended full recovery at its Shanghai plant According to an internal memo seen by Reuters, Tesla has delayed resuming production at its pre-lockdown level at its Shanghai plant for at least a week.

“McDonald’s is leaving Russia for good after more than 30 years in the country.” After the invasion of Ukraine, McDonald’s began selling all of its restaurants in Russia, leaving the country after more than 30 years of presence.

• United States: Rising natural gas prices suffocate the industrial sector. Rising natural gas prices have pushed up production and transportation costs in many U.S. industries, and the situation is expected to continue as the U.S. exports more gas to Europe to offset sanctions against Russia.

• JetBlue bids unfavorable takeover for Spirit Airlines. JetBlue has made an unfavorable, all-cash takeover bid for Spirit Airlines, just days after the low-cost carrier rejected an offer from its arch-rival.

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Trend before opening

The futures of Canada’s main stock index have declined, following the trend seen for global equities, as the release of disappointing data from China has raised fears of a recession and weak commodity prices. The Australian dollar and the Chinese yuan are under pressure on Chinese economic data as gold prices fall and the US dollar, near a 20-year high, hurts demand for the precious metal. Oil prices have fallen in response to the sanctions imposed on China, but the damage has been limited by support from the European Union, which is pushing for a complete ban on Russian oil imports.

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Others

Travel Mining: Mining executives say the company was surprised by heavy rains in the dry season in Burkina Faso last month, which left eight people trapped underground at the Percoa Zinc Mine. Rescue efforts have been ongoing since the April 16 floods, but no contact has been made with the missing miners and it is unclear if anyone is still alive. “Because of the dry season, we obviously didn’t expect rain, but we did get heavy rain,” said Hein Frey, vice president of operations at Trevali, who said the water came through a bridge and broke through security barriers. He added that the agency immediately called for help and the next day, other mining companies in Burkina Faso sent rescue teams and pumps. Water is still being extracted from the mine.

Recommendations

• Cineplex: Canaccord Genuity raised its target price from C $ 17 to C $ 18 after the company released its first quarter results, as its revenue has benefited from a good mix of products, additional VIP offers and moderate price increases.

N ECN Capital: RBC raised its target price from C $ 7 to C $ 7.5 after the first quarter results were released as expected, as the company continues to perform its growth strategy well.

রা Emra: The National Bank of Canada raised its target price from C $ 59 to C $ 60 while the company reported results that were in line with analysts’ expectations, reflecting higher rates and increasing sales volume.

Hardwood distribution: Canaccord Genuity has raised its target price from C $ 60 to C $ 63 after the first quarter results were released, indicating that the company is well positioned to take advantage of long-term indicators for the residential real estate market, despite rising rates and access to housing.

Length: RBC has lowered its price target from C $ 23 to C $ 20 due to recent trading missteps and lack of strategic direction that has affected investor sentiment towards the company.

The main indicator on the agenda

08:15 Residential accommodation begins. Annual (April): Unanimously 246,200; Previous 246 200

8:30 am Production Sale, var. Monthly (March): Consensus 1.7%, previous 4.2%

08:30 Wholesale trade, var. Monthly (March): Consensus -0.3%; Previous -0.4%

Publication of results

May 16

K92 Mining: Q1 earnings per share forecast for US $ 0.07

May 17

Expect no publication of big results.

Corporate agenda

08:30 K92 Mining: Q1 Income conference call

Coupon second

Engineering system: The amount of C $ 0.18

Fortis: Amount US $ 0.41

All analysts’ forecasts are based on I / B / E / S data from Refinitiv.

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