MORNING NEWS CALL REUTERS Canada Edition Wednesday, November 1, 2017

TOP NEWS • Bank of Canada's Poloz: Canada at crucial spot in economic cycle Canada is at a "crucial" spot in the economic cycle and faces a number of significant uncertainties, Bank of Canada Governor Ste- phen Poloz said on Tuesday, reiterating that the central bank will be cautious in making future changes to interest rates. • Fed set to hold rates steady ahead of Trump's leadership decision The Federal Reserve is expected to keep interest rates unchanged as speculation swirls on who will be its next leader, but the U.S. central bank will likely point to a firming economy as it edges closer to a possible rate rise next month. • Thomson Reuters reports higher third-quarter net profit Thomson Reuters reported higher-than-expected quarterly profit even as revenue slightly missed estimates, and the news and information company said full-year profits will be at the high end of its earlier forecast. • Cryptocurrencies' total value hits record high as bitcoin blasts above $6,500 The aggregate value of all cryptocurrencies hit a record high of around $184 billion, according to industry website Coinmarketcap, making their reported market value worth around the same as that of Goldman Sachs and Morgan Stanley combined. • Allergan third-quarter revenue rises 11.4 percent Botox-maker Allergan said its quarterly net sales rose 11.4 percent on higher demand for its medical aesthetics products.

BEFORE THE BELL Canada's main stock index was on track to open slightly higher, with oil prices hitting their highest levels since mid-2015 as OPEC sticks to its supply deal. Investors will also focus on Bank of Canada Governor Stephen Poloz, who appears before the Standing Sen- ate Committee on banking, trade and commerce. Wall Street aimed to kick off November with a higher opening, ahead of a state- ment at the end of the Fed's latest policy meeting due later. The U.S. dollar steadied, while gold edged higher. Bitcoin surged to a record high, on bets the crypto-currency might enter the financial mainstream after CME Group said it would launch bitcoin futures trading. European shares reached a two-year high and Asia markets closed at 10-year peak.

STOCKS TO WATCH Results • Thomson Reuters Corp (TRI). The company reported higher quarterly revenue excluding currency effects and reaffirmed its full- year sales outlook. The news and information company reported third-quarter net earnings of $348 million or 46 cents per share, compared with $286 million or 36 cents per share, a year ago. Adjusted for special items, earnings were 68 cents per share. • Torstar Corp (TSb). The publisher reported a bigger-than-expected loss in the third quarter, as its print business attracted fewer advertisers. Torstar said its print advertising revenue fell 15 percent in the latest quarter, but added that it expects growth in its Verti- calScope unit to offset weak advertising revenue for the rest of the year. Torstar's revenue fell 10 percent to C$145.91 million in the third quarter ended Sept. 30, falling short of analysts' average estimate of C$147 million. The company posted a net loss of C$6.6 million or 8 Canadian cents per share, compared to a profit of C$1.4 million or 2 Canadian cents per share, a year earlier. Excluding one-time items, Torstar posted a loss of 8 Canadian cents per share. Analysts had expected a loss of 4 Canadian cents.

INSIGHT Canadian oil producers rush to hedge as crude climbs, loonie falls Canadian oil producers are rushing to hedge future production, market sources said on Tuesday, taking advantage of an eight-month high in crude prices and a weak Canadian dollar to lock in production for 2018 and beyond.

ANALYSTS' RECOMMENDATION • Centerra Gold Inc(CG).CIBC raises target price to C$11 from C$9.50 based on the ramp-up of Mt Milligan and development of the MORNING NEWS CALL - CANADIAN EDITION November 1, 2017 growth projects.

ECONOMIC EVENTS 0930 Markit Manufacturing PMI SA for Oct: Prior 55.0

COMPANIES REPORTING RESULTS Nov 1: CRH Medical Corp (CRH). Expected Q3 earnings of 3 cents per share goeasy Ltd (GSY). Expected Q3 earnings of 79 Canadian cents per share Hudbay Minerals Inc (HBM). Expected Q3 earnings of 18 cents per share Trican Well Service Ltd (TCW). Expected Q3 earnings of 10 Canadian cents per share

Nov 2: Athabasca Oil Corp (ATH). Expected Q3 loss of 3 Canadian cents per share Baylin Technologies Inc (BYL). Expected Q3 loss of 3 cents per share BCE Inc (BCE). Expected Q3 earnings of 85 Canadian cents per share Bombardier Inc (BBDb). Expected Q3 loss of 1 cent per share Cenovus Energy Inc (CVE). Expected Q3 earnings of 14 Canadian cents per share Cogeco Communications Inc (CCA). Expected Q4 earnings of C$1.47 per share COGECO Inc (CGO). Expected Q4 earnings of C$1.23 per share Dorel Industries Inc (DIIb). Expected Q3 earnings of 68 cents per share Enbridge Inc (ENB). Expected Q3 earnings of 43 Canadian cents per share Endeavour Silver Corp (EDR). Expected Q3 earnings of 2 cents per share Excellon Resources Inc (EXN). Expected Q3 loss of 2 Canadian cents per share Fairfax Financial Holdings Ltd (FFH). Expected Q3 earnings of $19.00 cents per share Genworth MI Canada Inc (MIC). Expected Q3 earnings of C$1.12 per share Gildan Activewear Inc (GIL). Expected Q3 earnings of 51 cents per share Great-West Lifeco Inc (GWO). Expected Q3 earnings of 65 Canadian cents per share IGM Financial Inc (IGM). Expected Q3 earnings of 81 Canadian cents per share Mitel Networks Corp (MITL). Expected Q3 earnings of 19 cents per share Open Text Corp (OTEX). Expected Q1 earnings of 54 cents per share Pembina Pipeline Corp (PPL). Expected Q3 earnings of 37 Canadian cents per share Saputo Inc (SAP). Expected Q2 earnings of 52 Canadian cents per share Seven Generations Energy Ltd (VII). Expected Q3 earnings of 20 Canadian cents per share Snc-Lavalin Group Inc (SNC). Expected Q3 earnings of 56 Canadian cents per share Stornoway Diamond Corp (SWY). Expected Q3 earnings of break even per share

CORPORATE EVENTS 11:00 Centerra Gold Inc (CG). Q3 earnings conference call 11:00 TransAlta Corp (TA). Q3 earnings conference call 11:00 Molson Coors Canada Inc (TPXa). Q3 earnings conference call

EXDIVIDENDS MTY Food Group Inc (MTY). Amount C$0.12

(All analysts' estimates are according to Thomson Reuters I/B/E/S)

2 MORNING NEWS CALL - CANADIAN EDITION November 1, 2017

PICTURE OF THE DAY

Prima ballerina Deborah Ribeiro, soloist of the Rio de Janeiro's Municipal Theatre, performs during a protest of the theatre's artists against the non-payment of their salaries and the economic crisis in Rio de Janeiro, Brazil October 31. REU- TERS/Ricardo Moraes

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