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    GWO   CA39138C1068

GREAT-WEST LIFECO INC.

(GWO)
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Energy shares lift Toronto stock index as eyes turn to Powell

08/27/2021 | 09:51am EDT

Aug 27 (Reuters) - A jump in energy shares lifted Canada's main stock index on Friday as oil prices surged on worries about supply disruption, while investors globally looked for remarks from U.S. Federal Reserve Chair Jerome Powell for cues on tightening policy.

At 9:35 a.m. ET (1335 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 62.63 points, or 0.31%, at 20,566.78.

Energy stocks climbed 2.1% to a two-week high with U.S. crude prices up 2% as energy companies began shutting production in the Gulf of Mexico ahead of a possible hurricane forecast to hit during the weekend.

Trading in Canadian and U.S. stocks has been subdued this week on fears Powell would hint the Fed was ready to start tapering its massive pandemic-era stimulus amid a steady economic recovery.

"If we get some type of acknowledgment on if the Fed is backing away from its taper narrative, we could see a sell-off in the bond market (and) that would also be reflected perhaps in commodity prices," said Philip Petursson, chief investment strategist at Manulife Investment Management.

"(However,) we believe commodity prices can continue to trend higher, and that does bode well for the Canadian equity market going forward."

Heavyweight financial stocks were the lone decliners on the TSX, sliding for a second straight day following a promise by the ruling Liberal Party to raise corporate income taxes on financial firms if re-elected.

HIGHLIGHTS

* Energy firms Enerplus Corp and Lithium Americas Corp were the top gainers on the TSX, up 5.4% and 4.4%, respectively.

* Gold miners Seabridge Gold and Eldorado Gold led the decliners.

* The most heavily traded shares by volume were Great-West LifeCo, Sun Life Financial and Suncor Energy .

* The TSX posted six new 52-week highs and no new low. (Reporting by Sagarika Jaisinghani and Amal S in Bengaluru)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ENERPLUS CORPORATION 2.42% 11.83 Delayed Quote.197.24%
GREAT-WEST LIFECO INC. 0.57% 37.18 Delayed Quote.22.50%
LITHIUM AMERICAS CORP. 6.48% 33.02 Delayed Quote.106.63%
SUN LIFE FINANCIAL INC. 0.30% 70.75 Delayed Quote.24.63%
SUNCOR ENERGY INC. 3.08% 29.12 Delayed Quote.36.39%
All news about GREAT-WEST LIFECO INC.
10/20GREAT WEST LIFECO : to release third quarter 2021 financial results and shares Empower Ret..
AQ
10/15Credit Suisse Previews Sun Life Financial's Q3
MT
10/15Credit Suisse Previews Great West Lifeco Q3
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10/15Credit Suisse Previews Manulife Financial's Q3
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10/15Credit Suisse Previews Canadian Lifecos' Q3
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10/08GREAT WEST LIFECO : Up after Reporting Closing of Offering of Preferred Shares
MT
10/08GREAT WEST LIFECO : completes offering of Preferred Shares
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10/07GREAT WEST LIFECO : West Reports Long-Term Partnership with Sagard Holdings
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10/07GREAT-WEST LIFECO BRIEF : Details Strategic Partnership with Sagard Holdings
MT
10/07GREAT WEST LIFECO : announces strategic partnership with Sagard Holdings
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More news
Analyst Recommendations on GREAT-WEST LIFECO INC.
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Financials
Sales 2021 66 951 M 54 094 M 54 094 M
Net income 2021 2 979 M 2 407 M 2 407 M
Net Debt 2021 - - -
P/E ratio 2021 11,7x
Yield 2021 4,71%
Capitalization 34 595 M 27 969 M 27 952 M
Capi. / Sales 2021 0,52x
Capi. / Sales 2022 -
Nbr of Employees 24 500
Free-Float 26,1%
Chart GREAT-WEST LIFECO INC.
Duration : Period :
Great-West Lifeco Inc. Technical Analysis Chart | GWO | CA39138C1068 | MarketScreener
Technical analysis trends GREAT-WEST LIFECO INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Last Close Price 37,18 CAD
Average target price 40,00 CAD
Spread / Average Target 7,58%
EPS Revisions
Managers and Directors
Paul Anthony Mahon Co-President, Chief Executive Officer & Director
Jeffrey F. Macoun Co-President & Chief Operating Officer
Garry MacNicholas Chief Financial Officer & Executive Vice President
Robert Jeffrey Orr Chairman
Steven Michael Rullo Global Chief Information Officer & Executive VP
Sector and Competitors
1st jan.Capi. (M$)
GREAT-WEST LIFECO INC.22.50%27 969
AXA22.64%66 358
METLIFE, INC.39.81%56 247
PRUDENTIAL PLC8.69%55 117
PRUDENTIAL FINANCIAL, INC.45.78%44 022
MANULIFE FINANCIAL CORPORATION10.91%39 447