Canadian banks see stock gains as mortgage default fears ease, though TD Bank dips due to a massive fine.

Canadian banks are facing fourth-quarter earnings with easing concerns over mortgage defaults and recession, boosting the S&P TSX bank index by around 12%. Despite gains by Scotiabank and CIBC, TD Bank's stock has dipped due to a US$3 billion fine and U.S. growth limits. Analysts say banks must show improved earnings to justify current high valuations, as mortgage delinquencies remain below pre-pandemic levels.

December 01, 2024
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