TOP NEWS • South Korea city deserted after coronavirus church "super-spreader" The streets of South Korea's fourth-largest city, Daegu, were abandoned, with residents holed up indoors after dozens of people caught the coronavirus in what the authorities described as a "super-spreading event" at a church. • close to naming ex-Nielsen president Hasker as CEO -sources Thomson Reuters is close to naming former Nielsen Holdings president Steve Hasker as its next chief executive, succeeding Jim Smith, according to people familiar with the matter. • UBS names ING boss Hamers as chief executive to replace Ermotti UBS has named ING boss Ralph Hamers as successor to Chief Executive Sergio Ermotti, becoming the second major Swiss lender this month to replace its CEO. • Kirkland raises full-year forecast, beats quarterly profit estimates Canadian miner Gold raised its full-year forecast for gold production and beat analysts' estimates for quarterly profit, driven by higher production at its Fosterville mine in Victoria, Australia. • Newmont profit beats on higher output, gold prices The world's largest gold miner Newmont beat Wall Street estimates for quarterly profit on stronger bullion prices and a boost to production from its newly acquired Goldcorp assets.

BEFORE THE BELL The Japanese yen fell, extending its previous day's slide that saw the currency breach a key technical level against a broadly strengthening U.S. dollar. 's main stock index futures were little changed, as worries over a rise in coronavirus cases in South Korea offset the impact of China's efforts to boost its economy and a drop in new cases at the epicenter of the epidemic. U.S. stock futures were lower, moving in tandem with their European and Asian peers. Oil prices rose supported by China's efforts to boost its economy and supply concerns in Venezuela and Libya. Gold prices were higher. Canada's new housing price index data is scheduled for release later in the day.

STOCKS TO WATCH Results • Kirkland Lake Gold Ltd (KL). The Canadian miner raised its full-year forecast for gold production and beat analysts' estimates for quarterly profit, driven by higher production at its Fosterville mine in Victoria, Australia. The company raised its forecast for full-year gold production to between 1.4 million ounces and 1.5 million ounces, from prior estimates of a range of 950,000 ounces to 1 million ounces. The guidance was boosted by the acquisition of rival Corp in January, which helped ease concerns about the short life of the company's flagship Fosterville mine. On an adjusted basis, the company earned 88 cents per share, beating analysts' average estimate of 87 cents per share. Kirkland's net earnings rose to $169.1 million, or 80 cents per share, in the quarter ended Dec. 31, from $106.5 million, or 50 cents per share, a year earlier. Revenue rose 47% to $412.4 million.

In Other News • Corp (T). The Canadian telecom operator said on Wednesday that it aims to raise about C$1.3 billion through a public stock offering, priced at C$52 per share. The offering will be backed by a group of underwriters led by RBC Capital Markets and TD Securities, while CIBC Capital Markets, BMO Capital Markets and will be joint bookrunners. • Thomson Reuters Corp (TRI). Thomson Reuters is close to naming former Nielsen Holdings president Steve Hasker as its next chief executive, succeeding Jim Smith, according to people familiar with the matter. The appointment of Hasker, a senior adviser at private equity firm TPG and former McKinsey & Co media consultant, could be announced as soon as Tuesday, when the - based company reports its fourth-quarter results, one of the sources said. Two sources cautioned that his appointment had not been finalized and the timing of an announcement could be slightly delayed. In a statement on Wednesday, Thomson Reuters said no decision had been taken by the board yet, but the company will provide an update on the search process when it announces results.

INSIGHT Canada banks to post muted 1st qtr; stress test change may lift mortgages Canadian banks are set to post muted quarterly profit growth, driven by higher credit provisions, when they begin reporting earnings on Friday, but a change to a mortgage stress test could brighten prospects for the year, investors and analysts said. Canada's biggest lender, , will kick off banks' first-quarter earnings reports, following the sector's worst year for growth since the financial crisis. Analysts expect quarterly earnings per share to grow 4% to 6% from a year ago, similar to the forecast pace for fiscal 2020, and an increase in loan-loss provisions of between 9% and 15%. "Until this trend is broken, we believe investors will remain cautious on the sector due to uncertain earnings expectations," said National Bank Financial analyst Gabriel Dechaine. ANALYSTS' RECOMMENDATION • (BMO). Scotiabank raises target price to C$110 from C$107, seeing an improved outlook for the Canadian banking sector on the back of a muted increase in earnings per share, last year and mild year-on-year comparisons. • Chorus Aviation Inc (CHR). Scotiabank cuts target price to C$9 from C$9.50, citing the miss in fourth-quarter results due to higher costs related to stock-based compensations and increasing leverage due to continued investments in leasing new aircraft.

ECONOMIC EVENTS (All timings in U.S. Eastern Time) 0830 New housing price index for Jan: Expected 0.2%; Prior 0.2%

COMPANIES REPORTING RESULTS February 20: Altus Group Ltd (AIF). Expected Q4 earnings of 35 Canadian cents per share Canfor Corp (CFP). Expected Q4 loss of 41 Canadian cents per share Cargojet Inc (CJT). Expected Q4 earnings of 61 Canadian cents per share Cott Corp (BCB). Expected Q4 earnings of 5 cents per share Eldorado Gold Corp (ELD). Expected Q4 earnings of 13 cents per share Exchange Income Corp (EIF). Expected Q4 earnings of 77 Canadian cents per share Activewear Inc (GIL). Expected Q4 earnings of 41 cents per share Hudbay Minerals Inc (HBM). Expected Q4 loss of 6 cents per share Ltd (IPL). Expected Q4 earnings of 21 Canadian cents per share Jamieson Wellness Inc (JWEL). Expected Q4 earnings of 35 Canadian cents per share Kirkland Lake Gold Ltd (KL). Expected Q4 earnings of 87 cents per share Ltd (L). Expected Q4 earnings of C$1.12 per share Lundin Mining Corp (LUN). Expected Q4 earnings of 8 cents per share Superior Plus Corp (SPB). Expected Q4 earnings of 40 Canadian cents per share

February 21: CCL Industries Inc (CCLb). Expected Q4 earnings of 67 Canadian cents per share Enerplus Corp (ERF). Expected Q4 earnings of 29 Canadian cents per share Home Capital Group Inc (HCG). Expected Q4 earnings of 67 Canadian cents per share Inc (MG). Expected Q4 earnings of $1.33 per share Royal Bank of Canada (RY). Expected Q1 earnings of C$2.29 per share

CORPORATE EVENTS (All timings in U.S. Eastern Time) 0730 Kirkland Lake Gold Ltd (KL). Q4 earnings conference call 0830 Cargojet Inc (CJT). Q4 earnings conference call 0830 Gildan Activewear Inc (GIL). Q4 earnings conference call 0830 Iamgold Corp (IMG). Q4 earnings conference call 0900 Ovintiv Inc (OVV). Q4 earnings conference call 0930 Sienna Senior Living Inc (SIA). Q4 earnings conference call 1000 Cott Corp (BCB). Q4 earnings conference call 1000 Loblaw Companies Ltd (L). Q4 earnings conference call 1100 Alamos Gold Inc (AGI). Q4 earnings conference call 1100 Pan American Silver Corp (PAAS). Q4 earnings conference call 1700 Altus Group Ltd (AIF). Q4 earnings conference call 1700 Jamieson Wellness Inc (JWEL). Q4 earnings conference call

EX-DIVIDENDS Parkland Fuel Corp (PKI). Amount C$0.09

(All analysts' estimates are according to I/B/E/S Refinitiv data)

2 PICTURE OF THE DAY

Supporters of the indigenous Wet'suwet'en Nation's hereditary chiefs camp at a railway blockade as part of protests against British Columbia's Coastal GasLink pipeline, in Edmonton, Alberta, Canada, February 19. REUTERS/Codie McLachlan

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