Toronto Stock Market: Bank of Montreal

Bank of Montreal: The S P/TSX composite index fell 74.59 points to 13,344.98, off early lows as energy stocks turned positive, according to CTV. That beat an estimate of $1.58 a share but Barclays said 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 headed lower late morning Monday, held back primarily by the financials group even as Bank of Montreal TSX:BMO announced a dividend increase and posted earnings that beat expectations. Bank of Montreal's 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.