{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
Markets
As of: {{timeStamp.date}}
{{timeStamp.time}}

Markets

{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}

Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:
ON OFF

The information you requested is not available at this time, please check back again soon.

More Video

Jun 1, 2018

'It's good for Canada': Scotiabank CEO on NAFTA, Trans Mountain, mortgages and more

Exclusive: Scotiabank CEO happy with 'trophy assets,' sees M&A deal done for now

VIDEO SIGN OUT

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Bank of Nova Scotia’s chief executive officer said he remains confident that a new North American Free Trade Agreement deal will get done.

Brian Porter told BNN Bloomberg in an exclusive interview Friday that the bank – and its Mexican and Latin American operations  – stands behind Canada’s negotiating tactics, even as NAFTA talks drag on.

Here’s what Porter had to say about NAFTA, the fight over the Trans Mountain pipeline expansion project, Canada’s mortgage market and more on the heels of Scotiabank’s announcement that it’s buying MD Financial for $2.59 billion.

On NAFTA

“It’s difficult. We would have liked to have seen something done by now, but these negotiations take time, they’re tedious and we’ve been very supportive of the Canadian government’s approach here.”

On a NAFTA sunset clause

“I don’t know how you have an agreement with a five-year term. That’s not a trade agreement, in my mind. If we’re going to be true partners, then we need to have some other mechanism to stop and review.”

On the tariff spats between the U.S. and its trading partners

“The [U.S.] president is looking to get some leverage in the negotiation. It’s as simple as that. We’re in the middle of a negotiation here, [but] we’re confident that a renewed NAFTA will come to be.

“I can’t tell you exactly when that’s going to be, but it’s good for Canada and it’s good for North America.”

On the fate of the Trans Mountain expansion

“I think it’s important to get this transaction done [and] get people to work. These are high-paying jobs. This is critically important to the energy industry in Western Canada, to get their product to market. So, we’re supportive, and we want to see the project built. We think it’s in the best interest of the country.”

On who will ultimately own Trans Mountain

“It’s going to be a prized asset and it’s a very important asset for a variety of reasons. So, at the right price, under the right terms and conditions, I’m sure there will be a buyer.”

On Scotiabank’s Latin American operations

“There’s been a lot of focus on Mexico, obviously, because of NAFTA. We had a very strong quarter, coming off a very strong year last year. Mexico’s a very diverse economy … The structural reforms that have been legislated in Mexico have had their intended impact and it’s had a very positive impact on the economy.”

On the B-20 mortgage stress tests

“We’ve been supportive of changes in the mortgage market. We think it’s healthy given price escalation in some markets, primarily Vancouver and Toronto. It’s – we believe – having its intended impact and we think that’s healthy for the market.

“Our mortgage growth is growing at the same rate it was last year and the year before and we’re very comfortable with that.”