PrefBlog

BC Hydro couldn’t care less about operating on a cost-recovery basis. That’s not important:

Energy Minister Rich Coleman says he has cut expected BC Hydro rate increases by 50 per cent over three years.

Mr. Coleman says he made the decision based on a government-ordered review of hydro services and because the government wants to keep rates affordable for families.

DBRS put Spain, Italy, Portugal and Ireland on Review-Negative:

This action reflects DBRS’s assessment that downside risks to growth in the Euro area have intensified as a result of systemic concerns emanating from Greece. Recent political developments have called into question the Greek government’s willingness and capacity to comply with its EU-IMF adjustment programme and sustain its membership in the European Monetary Union. DBRS will assess, over the next three months, the risks stemming from Greece and to what extent uncertainty over the future of Greece, combined with concerns over sovereign debt sustainability and financial sector fragility in the Euro area, may adversely affect Ireland’s efforts to stabilise its public debt.

It was a mixed day for the Canadian preferred share market, with PerpetualPremiums down 9bp, FixedResets winning 12bp and DeemedRetractibles gaining 4bp. The Performance Highlights table was well populated, entirely with winners. Volume was below average.

This entry was posted on Wednesday, May 23rd, 2012 at 1:08 am and is filed under Market Action. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.