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Going into 2016, the strength in exports is more than offsetting the continued declines in business investment in the energy sector, according to RBC. In the first quarter, RBC said, an expected 2.2 percentage point add from net exports will contribute to annualized GDP growth rising to 3.4% from the modest 0.8% gain recorded in Q4. Indications the Canadian economy is “reorienting” away from resource-based activity, as the Bank of Canada had expected, reduce the need for further policy ease near term and an eventual tightening in the medium term, it added.
The stock is down 0.98% or .73 after the news, hitting .03 per share. About 1.18M shares traded hands. Royal Bank of Canada (TSE:RY) has risen 1.04% since August 27, 2015 and is uptrending. It has underperformed by 2.91% the S&P500.
Royal Bank of Canada is a diversified financial services company. The company has a market cap of 0.33 billion. The Firm provides personal and commercial banking, wealth management services, insurance, investor services and capital markets services and products on a global basis. It has 11.12 P/E ratio. It operates in five divisions: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a well-known provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.
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