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A deep recession that cost millions of people their jobs. Empty airports, restaurants and hotels. Tens of thousands of people have fallen ill with a virus that has ravaged parts of Canada’s largest cities.
It was the story of the second quarter – an economic and health nightmare due to COVID-19. Starting this week, investors in Canada will be able to see the extent of the damage caused to businesses. More than that, they’ll be on the lookout for clues about the power to win in the future, as cities and provinces attempt to restart their economies.
Industry indicators such as Canadian Pacific Railway Ltd., Suncor Energy Inc., Rogers Communications Inc. and Teck Resources Ltd. publish their second quarter results this week. For many companies, the results will be bad. The important question is how robust are the signs of recovery.
While profit expectations are still the lowest in four years, strategists have become more optimistic in recent times, according to data compiled by Bloomberg.