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Canada Edition Thursday, July 15, 2021

TOP NEWS • Insurer UnitedHealth raises 2021 profit view after results top estimates UnitedHealth Group beat quarterly profit estimates and raised its full-year earnings target, as the largest U.S. health insurer reported strong growth in its Optum unit that manages drug benefits.

• Barrick's second-quarter gold output falls 5.4% Barrick Gold said second-quarter gold production fell 5.4% from the previous quarter, dented by planned maintenance shutdowns at Nevada Gold Mine in the United States and Pueblo Viejo in the Dominican Republic.

• India's ban on Mastercard to hit banks' card operations, income -sources India's decision to ban Mastercard for non-compliance with data storage rules has unsettled the country's financial sector as it will disrupt banks' card offerings and hit revenues, payments and banking industry executives told .

• EU watchdog rejects call to ban Facebook from processing WhatsApp user data A European Union privacy watchdog rejected a call by Germany's lead data protection regulator for an EU-wide ban on Facebook's processing of personal data from its WhatsApp subsidiary but told the social network's lead EU regulator in Ireland to investigate.

• TSMC eyes expansion in U.S., Japan to meet sustained chip demand Taiwan Semiconductor Manufacturing Co signalled plans to build new factories in the United States and Japan, riding on a pandemic-led surge in demand for chips that power smartphones, laptops and cars.

BEFORE THE BELL Canada’s main stock index futures fell as oil prices dipped on expected supply increase. The Nasdaq futures edged higher, with mega-cap technology stocks leading gains ahead of a weekly unemployment report. European shares fell for a second straight session. China stocks closed higher as investors cheered better-than-expected retail sales data, while Japanese shares ended lower on caution ahead of corporate earnings season and a surge in COVID-19 cases a week before the Tokyo Olympics begins. The U.S. dollar held steady against its major peers. Gold prices were little changed.

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STOCKS TO WATCH • Barrick Gold Corp: The company said second-quarter gold production fell 5.4% from the previous quarter, dented by planned maintenance shutdowns at Nevada Gold Mine in the United States and Pueblo Viejo in the Dominican Republic. Total preliminary gold production fell to 1.04 million ounces in the three months ended June 30, from 1.10 million ounces in the previous quarter, the company said. Analysts on average had expected production to come in at 1.15 million ounces, according to Refinitiv IBES. The Canadian miner, which hopes the Porgera gold mine in Papua New Guinea (PNG) could restart this year after reaching an agreement with the government in April, said it remains on track to achieve its 2021 forecast.

• Royal Bank of Canada: The country's largest lender, added Roberta Jamieson, former chief executive officer of indigenous charity Indspire, to its board on Wednesday. Jamieson will join the governance and risk committees as part of her duties, effective Aug. 1, RBC said. The move comes at a time when diversity, particularly in the executive and board ranks, has come under increased scrutiny.

ANALYSIS Return to the U.S. office? Ask the CEO Apple CEO Tim Cook wants his employees back in the office sooner than many of his peers. Citigroup CEO Jane Fraser is bucking a trend on Wall Street by giving her employees more flexibility in returning than her major rivals. The questions of if, when and how often white-collar employees should again work in the office has been vexing corporate America ever since COVID-19 vaccinations became available.

ANALYSTS' RECOMMENDATION • Anaergia Inc: TD Securities initiates coverage with speculative buy rating, saying the company is the unrivalled global leader in extracting organic materials from municipal waste streams to convert it into renewable natural gas.

• CGI Inc: CIBC raises rating to outperformer, stating the company is well positioned in both government and commercial sectors as the business environment improves and organizations look to enhance digital offerings, including cybersecurity and cloud.

• TFI International Inc: National Bank of Canada raises target price to C$137 from C$129, saying the recently acquired TForce Freight LTL operations will be a major driver of earnings growth for the company over the next several years.

ECONOMIC EVENTS No economic indicators are scheduled for release.

COMPANIES REPORTING RESULTS July 15: Neptune Wellness Solutions Inc: Expected Q4 loss of 13 Canadian cents per share Theratechnologies Inc: Expected Q2 loss of 7 cents per share

July 16: No major companies are scheduled to report for the day.

CORPORATE EVENTS (All timings in U.S. Eastern Time) 0830 Firan Technology Group Corp: Q2 earnings conference call 0830 Theratechnologies Inc: Q2 earnings conference call 1000 Indigo Books and Music Inc: Annual Shareholders Meeting 1100 Cogeco Communications Inc: Q3 earnings conference call 1100 COGECO Inc: Q3 earnings conference call 1100 Valens Company Inc: Q2 earnings conference call 1300 MTY Food Group Inc: Annual Shareholders Meeting 1700 Neptune Wellness Solutions Inc: Q4 earnings conference call

EXDIVIDENDS Tecsys Inc: Amount C$0.06

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

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PICTURE OF THE DAY

People loot an area near a burning warehouse after violence erupted following the jailing of former South African President Jacob Zuma, in Durban, South Africa, July 14. REUTERS/Rogan Ward

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(Compiled by Sourav Bose and Priyanka Das in Bengaluru) Refinitiv , New York, NY 10036 To subscribe for The Morning Newscall newsletter click here Please visit: Refinitiv for more information. For questions or comments about this report, contact: [email protected] Privacy statement

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