HEADLINES
Factory Sales Jumped 4.2% in April
Canadian factory shipments notched the biggest monthly jump in more than four years, buoyed by record petroleum and coal sales in April.
Manufacturing sales increased 4.2% from the month before to a seasonally adjusted C$77.05 billion, Statistics Canada said.
This was a third straight increase in trade for the sector, a further sign manufacturers in the country are recovering after the hit last year from U.S. tariffs and trade uncertainty.
Keyera Raises Synergy Targets, Sets Long-Term Growth Outlook After Plains Deal
Keyera laid out a multi year growth outlook after completing its acquisition of Plains' Canadian natural-gas-liquids assets, outlining new earnings targets and updated guidance tied to its enlarged midstream platform.
The company said that it has nearly reached its synergy target of C$100 million, having achieved C$90 million since the company first announced the acquisition a year ago.
Keyera is now targeting near-term annual run-rate synergies of C$120 million to C$140 million thanks to improved connectivity and greater market access, it said.
Housing Starts Fell 6.1% in May
Canadian housing starts fell in May, marking another sign of weakness in the country's real-estate sector--once a key engine of growth. Weakness in home construction is likely to persist, analysts say.
Housing starts across Canada came in at a seasonally adjusted annualized rate of 261,377 units in May, a 6.1% decrease from the month before, Canada Mortgage and Housing Corp. said. Still, the result bested market expectations for 255,000 housing starts, according to economists at Bank of Nova Scotia.
The trend measure--a six-month moving average of the monthly seasonally adjusted annual rate of housing starts--slightly rose last month by 0.5%, Canada's national housing agency said.
Agnico Eagle Completes Aurion Deal
Agnico Eagle Mines completed its arrangement to buy Aurion Resources, a Canadian gold exploration company, for C$2.60.
The stock gained 5.6% to settle at C$240.24.
Aurion said its shares will be delisted from the TSX Venture Exchange, and it will apply to cease to be a reporting issuer in Canada following the cash acquisition.
Nuvei to Buy Payoneer for $2.75 Billion
Nuvei has agreed to acquire Payoneer Global for $2.75 billion in cash, a deal that expands the Canadian payments company's reach in cross-border finance services.
Nuvei, a Canadian payments processor taken private by Advent International two years ago, will acquire all of Payoneer's shares for $7.40 a share. Payoneer's stock has been higher in 2026, rising about 20% since the start of the year to close on Friday at $6.75. The stock has been halted from trading.
The transaction combines Nuvei's payment acceptance capabilities with Payoneer's cross-border payouts, multi-currency accounts and banking network, along with same-day and real time settlement in more than 150 markets.
Sherritt Enters Exclusivity Pact With Suitor Gillon Capital
Sherritt International and Gillon Capital have entered a 120-day period of exclusive negotiations in an effort to reach a deal that would see the Canadian miner sell a controlling stake to the private family office linked to Republican financier Ray Washburne.
Sherritt said the exclusivity agreement will allow the two sides to complete due diligence reviews and negotiate a definitive agreement for the proposed private placement.
Since Sherritt signed a non-binding term sheet with Gillon Capital last month, the two sides have each engaged financial, legal and other advisers and are working to navigate the complexities of reaching a deal, including Sherritt's operations in Cuba and the U.S. regulatory and sanctions environment. Sherritt said the parties continue to talk with relevant government and regulatory authorities.
Wholesale Sales Rose 0.6% in April
Canadian wholesale trade increased in April, boosted by increased sales of building materials and supplies.
Wholesale sales rose 0.6% from the month before to a seasonally adjusted C$89.31 billion, Statistics Canada said.
That marked a third straight rise and was stronger than the data agency's advance estimate for sales to tick up 0.1% increase following a 1.6% advance in March.
In price-adjusted terms, sales fell by 0.3% in April, an indication the rise for the month was driven by prices rather than the volume of sales.
Canopy Growth Loss Narrows, Revenue Rises
Canopy Growth said its fourth-quarter loss narrowed as the company's Canadian cannabis business drove revenue growth and that it expects momentum to continue in the new fiscal year.
For the three months ended March 31, the Smiths Falls, Ontario cannabis company posted a narrowed net loss of C$154.7 million, or C$0.40 a share, compared with a loss of C$196 million, or C$1.27 a share, in the comparable quarter a year ago.
Consolidated net revenue rose 10% to C$71.2 million, missing forecasts calling for growth to C$74.3 million.
The company's cannabis revenue rose 20% in the quarter to C$54.5 million, with Canadian medical cannabis sales rising 27% and adult-use cannabis increasing by 1%.
MDA Space's 49North Wins C$3.7 Million Contract for Canada's Drone Intelligence System
MDA Space has won a C$3.7 million contract to deliver a Coalition Shared Database for Canada's Remotely Piloted Aircraft System to General Atomics Aeronautical Systems.
49North, MDA's defense-technology subsidiary, said that the contract adds to Canada's broader remotely piloted aircraft system program, under which General Atomics is supplying 11 MQ-9B drones to the Royal Canadian Air Force.
The database will allow Canada to share real-time intelligence with NATO allies while keeping national control over sensitive information.
MDA said that the contract further expands 49North's role as a key Canadian integrator on the project, building on an existing C$74.4 million remotely piloted aircraft system contract.
TALKING POINT
Canada Focused on Relief From Hefty Sector-Specific Tariffs in U.S. Trade Talks, Ambassador to U.S. Says
By Paul Vieira
OTTAWA--Canada's priority in trade talks with Washington is to seek relief from hefty U.S. tariffs on key industrial sectors like steel, aluminum and automobiles, the country's ambassador to the U.S. told a Toronto audience.
Former pension-fund and BlackRock executive Mark Wiseman said Canadians shouldn't get too focused on the formal review process starting on July 1 concerning the existing U.S.-Mexico-Canada trade treaty, USMCA. Wiseman told a business audience that senior Trump officials, led by U.S. Trade Representative Jamieson Greer, have indicated they are keen to keep the pact intact, although with changes. Even if there's no agreement to renew after July 1, USMCA's terms will remain in place for another decade, until 2036.
Canadian officials, instead, are preoccupied about the sector-specific tariffs of up to 50%, which are squeezing segments of country's manufacturing sector. "Those tariffs are the ones that are biting in terms of impact on the Canadian economy," Wiseman said. "We need to find a path forward on quickly" on those sectoral taiffs, "because unlike everything else under USMCA, the default is they're staying in place, and they are incredibly, incredibly painful to wide sectors of the of the Canadian economy."
Canada's chief minister for U.S. trade, Dominic LeBlanc, has said Ottawa is unwilling to agree to changes to USMCA or other policies -- such as a province-led ban on U.S. wines and spirits -- until the sector-specific tariffs are eased. Canada is America's largest foreign supplier of steel and aluminum, and fourth-largest in light-motor vehicles.
Like Prime Minister Mark Carney did last month, Wiseman tried Tuesday to play down any conflict with the U.S.. He said Canada's strategy of pursuing new trade markets should not be interpreted as Ottawa turning its back on the U.S. economy. "We, as Canadians, are privileged to be next door to the world's most dynamic economy," said Wiseman, during a question-and-answer session with Bank of Montreal Chief Executive Darryl White. "We should not seek to trade that for anything."
Carney said in a video address in April that Canada's economic ties to the U.S. had become a source of weakness. Wiseman said Tuesday that Canada had become too complacent about its economy, over relying on trade with the U.S. to be the main engine of growth. "I think that's what the Prime Minister has said," Wiseman said. "We need to diversify our sources of demand for our products."
Wiseman added that talks with U.S. officials are proceeding on an almost daily basis, on a "productive, serious, informed, and respectful" basis. "Behind the scenes, stuff is getting done."
Write to Paul Vieira at [paul.vieira@wsj.com]
Expected Major Events for Tuesday
08:00/ITA: May CPI
08:30/UK: Mar Card Spending statistics
08:59/JPN: Japan Monetary Policy Meeting decision
09:05/GER: Jun ZEW Indicator of Economic Sentiment
12:30/US: May Import & Export Price Indexes
12:30/CAN: Apr International transactions in securities
12:30/US: May New Residential Construction - Housing Starts and Building Permits
12:55/US: 06/13 Johnson Redbook Retail Sales Index
20:30/US: API Weekly Statistical Bulletin
23:50/JPN: Apr Orders Received for Machinery
23:50/JPN: May Provisional Trade Statistics for the Month
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Tuesday
Anavex Life Sciences Corp (AVXL) is expected to report $-0.08 for 2Q.
Andrew Peller Ltd - Class A (ADW.A.T,ADW.B.T) is expected to report for 4Q.
Beyond Air Inc (XAIR) is expected to report for 4Q.
Ecolab Inc $(ECL)$ is expected to report $2.00 for 2Q.
Fathom Holdings Inc (FTHM) is expected to report $-0.06 for 1Q.
John Wiley & Sons Inc - A Share $(WLY)$ is expected to report $1.45 for 4Q.
La-Z-Boy Inc $(LZB)$ is expected to report $0.81 for 4Q.
Reitmans (Canada) Ltd (RET.V,RTMNF) is expected to report for 1Q.
Scorpius Holdings Inc $(SCPX)$ is expected to report for 4Q.
Scully Royalty Ltd (SRL) is expected to report for Full year.
Vince Holding Corp $(VNCE)$ is expected to report for 1Q.
Vistagen Therapeutics Inc $(VTGN)$ is expected to report for 4Q.
Waldencast PLC $(WALD)$ is expected to report $-0.19 for 1Q.
Wins Finance Holdings Inc (WINSF) is expected to report for Interim.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
June 15, 2026 16:30 ET (20:30 GMT)
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