TOP NEWS • Wirecard says missing $2.1 billion never existed, rips up earlier accounts Wirecard said that 1.9 billion euros missing from its accounts was likely never there and it was looking at the sale or closure of parts of its business as it sought to avert a looming cash crunch. • After BP takes a hit, investors widen climate change campaign Investors managing £1.8 trillion in assets are widening a campaign pressing oil majors to better reflect climate risks in their accounting, and will soon target other businesses with heavy fossil fuel exposure, the group said. • Apple to update developers, possibly signal split from Intel Apple will hold its annual conference for software developers, rolling out new features in its operating systems for iPhones and iPads and possibly signaling a departure from Intel's almost 15-year run supplying Mac computer processors. • Canadian end extra pandemic pay as infections ease Most of 's biggest banks are ending their extra payments to employees who continued working in public during COVID-19 pandemic lockdowns, as the country's daily infection tallies decline. • CN Rail sees eastern network revival on supply chain diversity, ports Canadian National Railway is banking on growth in consumer products and supply-chain diversification in Asia, to revive traffic on its underutilized eastern Canadian rail lines, the company's chief executive told Reuters on Friday.

BEFORE THE 's main stock index futures edged higher, supported by firmer gold prices which hit a one-month high as investors ran for safety. Wall Street futures rose, shrugging off fears over rising coronavirus cases globally. Banking and oil shares dragged European equity markets down, and most Asian shares ended in the red. New Zealand and Australian dollars gained as risk appetite was high, while the U.S. dollar fell. Oil prices edged lower.

STOCKS TO WATCH • Canadian National Railway Co (CNR). Canada’s biggest railroad is banking on growth in consumer products and supply-chain diversification in Asia, to revive traffic on its underutilized eastern Canadian rail lines, the company's chief executive told Reuters on Friday. Coronavirus, which hit China's industrial production, along with U.S. tariffs on Chinese goods, are further leading suppliers to eye alternative manufacturing sites in Asia. "The tariff war and coronavirus have intensified and accelerated these trends," CN CEO Jean-Jacques Ruest said. "I think, therefore, we are even more bullish today than two years ago." He sees a shift in the business mix, combined with container expansion projects planned for ports in , City and Halifax - three main eastern Canadian ports - as key to reviving CN's underutilized eastern network, which lost capacity as manufacturing dwindled. • Canadian Imperial of Commerce (CM), of Canada (NA), Royal (RY) & Toronto-Dominion Bank (TD). Most of Canada's biggest banks are ending their extra payments to employees who continued working in public during COVID-19 pandemic lockdowns, as the country's daily infection tallies decline. Canadian Imperial Bank of Commerce will end its pay incentive, C$50 per day for workers required to work on site, on June 27, spokesman Tom Wallis said. Toronto-Dominion Bank's incentive program, which pays workers at bank locations C$500 and an extra day off for each of April and May, is due to expire at the end of June, said spokeswoman Julie Bellissimo. will also end its special compensation program on June 30, said spokeswoman Elizabeth Lewis. National Bank of Canada ended its additional pay program earlier this month, spokeswoman Marie-Pierre Jodoin said. • Cineplex Inc (CGX). The company said on Friday it adopted a shareholder rights plan, popularly known as a "poison pill", nearly a week after Britain's Cineworld Group abandoned its $1.65 billion deal to buy the Canadian theater chain. The implementation of the rights plan will prevent investors from acquiring 20% or more of the company's outstanding common shares without complying with certain provisions of the plan, Cineplex said. The rights plan has not been adopted in response to any specific takeover bid or other proposal to acquire control of Cineplex, it added. • Inc (ENB). The company resumed operation on Saturday of one leg of its Line 5 oil pipeline in the U.S. Great Lakes, after a two-day shutdown due to damage to the other line, a spokesman said. Michigan's attorney general has been attempting through the courts to permanently shut down the portion of the 67-year-old Line 5 that passes across the Straits' lakebed, fearing leaks that would pollute the Great Lakes. In a letter to Michigan Governor Gretchen Whitmer on Saturday, Enbridge Chief Executive Al Monaco said the Canadian company had shut both legs of the line on Thursday as a precaution after it found a screw anchor on one leg had shifted position. He was responding to Whitmer's letter a day earlier, in which she said she had unanswered questions about the cause of a "catastrophe that may have been narrowly avoided."

ANALYSIS As Bank of Canada quells sub-zero rates talk, next move may be a hike in 2022 Investors, looking past the COVID-19 pandemic, are betting that the Bank of Canada could be among the first major central banks to hike interest rates, signaling new governor Tiff Macklem’s success so far convincing the market not to expect negative rates.

ANALYSTS' RECOMMENDATION • Bonavista Energy Corp (BNP). RBC cuts target price to C$0.10 from C$0.25, after the company announced a proposed share-for- debt recapitalization transaction. • Westshore Terminals Investment Corp (WTE). raises target price to C$20.50 from C$19, citing more attractive risk/ reward after Jim Pattison (through investment arms) increased equity ownership interest in the company.

ECONOMIC EVENTS No economic indicators are scheduled for release.

COMPANIES REPORTING RESULTS June 22 & 23: No major companies are scheduled to report.

CORPORATE EVENTS (All timings in U.S. Eastern Time) 1000 Rubicon Minerals Corp (RMX). Annual Shareholders Meeting 1000 Park Lawn Corp (PLC). Annual Shareholders Meeting

EX-DIVIDENDS Aecon Group Inc (ARE). Amount C$0.16 B2Gold Corp (BTO). Amount $0.02 Rocky Mountain Dealerships Inc (RME). Amount C$0.01

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

2 PICTURE OF THE DAY

People participate in an outdoor yoga class by LMNTS Outdoor Studio, in a dome to facilitate social distancing and proper protocols to prevent the spread of coronavirus disease (COVID-19), in Toronto, Ontario, Canada June 21. REUTERS/Carlos Osorio

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