Here are six things you need to know this morning
BMO tops estimates on capital markets strength: Bank of Montreal topped profit estimates in the second quarter on robust fee revenue across capital markets and wealth management. Global markets and corporate banking were also up significantly from a year earlier. BMO earned $2.6 billion, or $3.53 per share, up 34 per cent from the same quarter last year. The bank increased its quarterly dividend by four cents per share. BMO’s provisions for loan losses were lower than expected.
Scotia beats but credit provisions above estimates: Profit in the latest quarter at Bank of Nova Scotia beat estimates, thanks to strength in its Canadian banking division. It also announced an increase to its quarterly dividend of 4 cents a share. The bank says it expects to see earnings increase by double digits as it works to cut costs. On the downside, Scotia’s provisions for credit losses were higher than expected.
CWB deal boosts National: National Bank beat analysts’ projections in their second quarter profit and revenue. The Montreal-based lender’s performance was driven by credit discipline and share buybacks. The bank also saw growth in its personal and commercial banking income. This comes after the bank closed the purchase of Canadian Western Bank in February 2025. It’s also raising its quarterly dividend by 8 cents per share.
Lululemon reaches agreement with founder: Lululemon says it’s reached an agreement to end its feud with founder and largest individual shareholder Chip Wilson. The company agrees to appoint two of Wilson’s nominees to the board. A product and brand expert will also be appointed. In exchange, Wilson agrees not to criticize the company in private or public for 18 months.
Latest U.S. trade position from top Trump official: The United States’ top trade official says the U.S. wants changes to continental trade rules to favour American content … but he sees a path to preferential tariff treatment for Canada and Mexico if they co-operate with external tariffs on other countries. At the same time, Jamieson Greer warned that negotiations with Canada around the future of the country’s auto sector could be difficult, while discussions about trade in commodities should prove easier. Mr. Greer, the U.S. Trade Representative, was speaking in Washington yesterday, one day before travelling to Mexico City for the first round of negotiations ahead of a review of the CUSMA trade agreement.
Let AI do your stock trading: Investors will soon be able to let AI do their stock trading. American online brokerage Robinhood Markets will allow customers to direct artificial intelligence agents to trade equities and make purchases on their credit cards. A client will be able to establish an agentic trading account that’s separate from the customer’s standard portfolio. Customers will be able to direct an agent to engage only with equities, with support for options, cryptocurrencies, event contracts, futures and other products to come later.
