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Independent topical source of current affairs, opinion and issues, featuring stories making news in Canada from immigrants, newcomers, minorities & ethnic communities' point of view and interests.

Bank of Montreal

Bank of Montreal: The S P/TSX composite index fell 99.7 points to 13,319.87 with losses spread over most sectors. Traders are also cautious ahead of economic data later in the week that could give a better idea of where the Federal Reserve is headed in cutting back on stimulus measures, according to Times Colonist. That beat forecasts of $1.58 a share but Barclays observed that "BMO reported a $121-million gain in Wealth Management that is not recurring and will not likely be treated as core earnings in the market." TORONTO - The Toronto stock market closed sharply lower Tuesday as investors reacted negatively to the latest earnings report from the Bank of Montreal and pushed other financial stocks lower ahead of reports from all the big banks this week. Bank of Montreals TSX:BMO annual net profit hit a record $4.2 billion in 2013. That included $1.088 billion of net income in the fourth quarter, which was up one per cent from a year earlier. Its adjusted net income fell two per cent from a year ago to $1.102 billion or $1.64 a share. (www.immigrantscanada.com). As reported in the news.