TOP NEWS • Trump restricts travel from Europe as coronavirus disrupts life in U.S. Travelers scrambled to rebook flights and global markets reeled after U.S. President Donald Trump imposed sweeping restrictions on travel from Europe, hitting battered airlines and further straining ties with the continent. • Canada commits C$1 billion to combat coronavirus, ready to do more Canada committed C$1 billion to fight the spread of the coronavirus in the country and is ready to do more, Prime Minister Justin Trudeau said on Wednesday as his government took its first economic measures to contain a worsening outbreak. • Bombardier CEO Alain Bellemare to step down Canada's Bombardier said late Wednesday Chief Executive Officer Alain Bellemare would step down and be replaced by former company executive and Hydro-Quebec CEO Eric Martel. • Airline stocks plunge as U.S. puts Europe in coronavirus quarantine European airline stocks already battered by the coronavirus plunged again, as a U.S. travel ban on much of continental Europe deepened the sector's misery and piled pressure on governments to offer emergency support. • U.S. oil company workers make big, bad retirement bet: their own stock Employees at the largest U.S. oil companies have lost around $5 billion in retirement savings since the end of 2018 because of outsized bets on their own slumping stock, according to a Reuters analysis of company disclosures, a trend exacerbated by the recent crash in oil prices.

BEFORE THE ’s main stock index futures and Wall Street futures plunged, in line with European and Asian equity markets, after U.S. President Donald Trump banned travel from Europe to stem the coronavirus, threatening more disruption to the world economy. The Japanese yen rose against the U.S. dollar on safe-haven demand. Spot gold prices rose as investors shunned riskier assets. Oil extended losses after travel restrictions and the threat of a flood of cheap supply after Saudi Arabia and United Arab Emirates said they would raise output in a standoff with Russia.

STOCKS TO WATCH Moves • Bombardier Inc (BBDb). The company said late Wednesday Chief Executive Officer Alain Bellemare would step down and be replaced by former company executive and Hydro-Quebec CEO Eric Martel. "With the five-year turnaround plan nearing completion, the board, including Mr. Bellemare, unanimously concluded that it was the appropriate time for a new leader to take the helm of the corporation," Bombardier said in a statement. Bellemare, who took over the top job at Bombardier in 2015, has steered the company through some of its biggest challenges, including a brush with bankruptcy due to its costly C Series jet program.

In Other News • Husky Energy Inc (HSE). Union workers at the company's 177,000-barrel-per-day refinery in Lima, Ohio, voted against ratifying a two-year contract with Husky on Wednesday evening, according to a union representative from the United Steelworkers Local 624. The rejection raised the chances of a lockout at the plant, where workers have been without a contract for nearly one year as the plant underwent a crude optimization program to process an additional 40,000 bpd of sour crude oil. An "overwhelming majority" voted against ratifying the agreement, according to the representative for the union, which represents about 200 members that work hourly in the refinery.

ANALYSIS For richer or poorer: coronavirus, cheap oil test climate vows Climate change commitments by banks, pension funds and asset managers face their first major test as markets reel from the twin shocks of coronavirus and a sliding oil price.

ANALYSTS' RECOMMENDATION • Air Canada (AC). Canaccord Genuity cuts target price to C$40 from C$55, reflecting reduced demand driven by COVID-19. • Altius Minerals Corp (ALS). cuts target price to C$13 from C$14.5, citing the company’s warning about a high degree of uncertainty related to previously issued 2020 royalty revenue guidance given the escalating coronavirus pandemic. • Corp (WPM). raises target price to C$52 from C$50, reflecting in line fourth- quarter results and having incorporated the Salobo III expansion to base case valuation.

ECONOMIC EVENTS No economic indicators are scheduled for release.

COMPANIES REPORTING RESULTS March 12: AutoCanada Inc (ACQ). Expected Q4 earnings of 17 Canadian cents per share Cervus Equipment Corp (CERV). Expected Q4 loss of 19 Canadian cents per share CES Energy Solutions Corp (CEU). Expected Q4 earnings of 3 Canadian cents per share Docebo Inc (DCBO). Expected Q4 loss of 6 cents per share Empire Company Ltd (EMPa). Expected Q3 earnings of 46 Canadian cents per share Ero Copper Corp (ERO). Expected Q4 earnings of 17 cents per share High Arctic Energy Services Inc (HWO). Expected Q4 loss of 6 Canadian cents per share KP Tissue Inc (KPT). Expected Q4 earnings of 19 Canadian cents per share Medical Facilities Corp (DR). Expected Q4 earnings of 21 cents per share Neo Performance Materials Inc (NEO). Expected Q4 earnings of 14 cents per share NFI Group Inc (NFI). Expected Q4 earnings of 66 cents per share PFB Corporation (PFB). Expected Q4 earnings of 31 Canadian cents per share Pipestone Energy Corp (PIPE). Expected Q4 earnings of 1 Canadian cent per share Premium Brands Holdings Corp (PBH). Expected Q4 earnings of 75 Canadian cents per share ProntoForms Corp (PFM). Expected Q4 loss of 1 cent per share Quebecor Inc (QBRb). Expected Q4 earnings of 60 Canadian cents per share STEP Energy Services Ltd (STEP). Expected Q4 loss of 25 Canadian cents per share Transat AT Inc (TRZ). Expected Q1 earnings of 19 Canadian cents per share Valeura Energy Inc (VLE). Expected Q4 earnings of break even per share

March 13: Crown Capital Partners Inc (CRWN). Expected Q4 earnings of 14 Canadian cents per share Intertape Polymer Group Inc (ITP). Expected Q4 earnings of 25 cents per share Superior Gold Inc (SGI). Expected Q4 loss of 3 cents per share Total Energy Services Inc (TOT). Expected Q4 earnings of 23 Canadian cents per share

CORPORATE EVENTS (All timings in U.S. Eastern Time) 0800 Baylin Technologies Inc (BYL). Q4 earnings conference call 0800 CRH Medical Corp (CRH). Q4 earnings conference call 0800 Docebo Inc (DCBO). Q4 earnings conference call 0800 NFI Group Inc (NFI). Q4 earnings conference call 0830 KP Tissue Inc (KPT). Q4 earnings conference call 0830 Medical Facilities Corp (DR). Q4 earnings conference call 0900 Altius Minerals Corp (ALS). Q4 earnings conference call 0900 Dorel Industries Inc (DIIb). Q4 earnings conference call 0900 ProntoForms Corp (PFM). Q4 earnings conference call 1000 Invesque Inc (IVQu). Q4 earnings conference call 1000 Neo Performance Materials Inc (NEO). Q4 earnings conference call 1000 STEP Energy Services Ltd (STEP). Q4 earnings conference call 1000 Transat AT Inc (TRZ). Annual Shareholders Meeting 1100 Badger Daylighting Ltd (BAD). Q4 earnings conference call 1100 CanWel Building Materials Group Ltd (CWX). Q4 earnings conference call 1100 Pipestone Energy Corp (PIPE). Q4 earnings conference call 1100 Quebecor Inc (QBRb). Q4 earnings conference call 1100 Wheaton Precious Metals Corp (WPM). Q4 earnings conference call 1130 Alexco Resource Corp (AXU). Q4 earnings conference call 1200 Alcanna Inc (CLIQ). Q4 earnings conference call 1200 Empire Company Ltd (EMPa). Q3 earnings conference call 1200 Fortuna Silver Mines Inc (FVI). Q4 earnings conference call 1300 Tidewater Midstream and Infrastructure Ltd (TWM). Q4 earnings conference call 1330 Premium Brands Holdings Corp (PBH). Q4 earnings conference call 1430 Transat AT Inc (TRZ). Q1 earnings conference call 1530 Mainstreet Equity Corp (MEQ). Annual Shareholders Meeting

EX-DIVIDENDS AltaGas Canada Inc (ACI). Amount C$0.26 CAE Inc (CAE). Amount C$0.11 Inc (CVE). Amount C$0.06 Crescent Point Energy Corp (CPG). Amount C$0.01 DREAM Unlimited Corp (DRM). Amount C$0.03 Equitable Group Inc (EQB). Amount C$0.37 George Weston Ltd (WN). Amount C$0.52

2 Ltd (L). Amount C$0.31 Maple Leaf Foods Inc (MFI). Amount C$0.16 MCAN Mortgage Corp (MKP). Amount C$0.34 Morguard Corp (MRC). Amount C$0.15 Ovintiv Inc (OVV). Amount $0.09 Rocky Mountain Dealerships Inc (RME). Amount C$0.12 Inc (SJRb). Amount C$0.09 SNC-Lavalin Group Inc (SNC). Amount C$0.02 Ltd (TECKa). Amount C$0.05 TransAlta Renewables Inc (RNW). Amount C$0.07 TWC Enterprises Ltd (TWC). Amount C$0.02

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

3 PICTURE OF THE DAY

An installation entitled "Umbrella Sky Project" created by Portuguese artist Patricia Cunha and composed with pink umbrellas is pictured in Paris, France, March 11. REUTERS/Benoit Tessier

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