HONG KONG/TORONTO (Reuters) – Bank of Nova Scotia (BNS.TO: Quote, Profile, Research, Stock Buzz) said on Friday it will buy a near 20 percent stake in Bank of Guangzhou for about C$719 million ($722 million) to expand its footprint in China, becoming the latest foreign bank to invest in a Chinese bank before the bank does an IPO.

Scotiabank, Canada’s third-largest lender, said it expects the deal to add to earnings next year and to close by December this year. Guangzhou is China’s third largest city, about 120 kilometers (75 miles) northwest of Hong Kong.

TORONTO, Sept 8 (Reuters) – The Canadian dollar ended the
session weaker against its U.S. counterpart on Thursday as
investors sought safety after a speech by Federal Reserve chief
Ben Bernanke lacked details on plans to spur economic growth.

Wall Street stocks fell on the Bernanke speech and the euro
slipped on fears the euro zone debt crisis is worsening with
Greece failing to meet fiscal targets. [MKTS/GLOB]

TORONTO, Sept 8 (Reuters) – The Canadian dollar was little
changed in early trade on Thursday as markets focused on
statements by key central bankers, overshadowing U.S. and
Canadian economic data.

The euro slid to a two-month low against the U.S. dollar
after the European Central Bank kept interest rates on hold and
ECB boss Jean-Claude Trichet said growth risks in the euro zone
economy have shifted to the downside. [MKTS/GLOB]

TORONTO, Sept 7 (Reuters) – The Canadian dollar ended
higher on Wednesday, boosted by rallying commodities and stock
markets and by a Bank of Canada statement that was not as
dovish about interest rates as traders had expected.

World equity markets and commodities made strong gains,
with oil up more than 3 percent, after a German court ruling
supported the German government’s bail-out efforts in the
crisis-stricken euro zone [MKTS/GLOB]

TORONTO, Sept 7 (Reuters) – The Canadian dollar
strengthened on Wednesday after the Bank of Canada warned of a
worsening global economic picture but was not as dovish about
interest rates as traders had expected.

In a policy shift, Canada’s central bank said there was
less need to raise interest rates because of slowing global
economic momentum, but policymakers also said Canadian growth
would resume in the second half of the year, with very
stimulative credit conditions a factor. [ID:nN1E786055]

TORONTO, Sept 2 (Reuters) – The Canadian dollar hit a
one-week low on Friday after the U.S. jobs report for August
came in far weaker than expected, reigniting fears about a
global growth slowdown and sending investors to safe-haven
assets.

The U.S. dollar also weakened against key currencies such
as the yen and Swiss franc [FRX] after news that U.S. employers
hired no new workers last month, against expectations for a
75,000 increase in payrolls. That sent government bond prices
higher and pushed stock markets into a global slump.
[MKTS/GLOB]

TORONTO, Sept 2 (Reuters) – The Canadian dollar sank to a
one-week low against the greenback on Thursday morning after
the U.S. jobs report for August came in far weaker than
expected, reigniting fears about a global growth slowdown and
sending investors to safe-haven assets.

The U.S. dollar also weakened against key currencies such
as the yen and Swiss franc [FRX] after news that U.S. employers
hired no new workers last month, against expectations for a
75,000 increase in payrolls. That sent government bond prices
higher and pushed stock markets into a global slump.
[MKTS/GLOB]

TORONTO, Sept 2 (Reuters) – The Canadian dollar weakened on
Thursday after the U.S. jobs report came in far weaker than
expected, reigniting fears about a global growth slowdown and
sending investors to safe-haven assets.

News that U.S. employers hired no new workers last month,
against expectations for a 75,000 increase in payrolls also
sent government bonds prices higher and pushed stock markets
into a global slump. [MKTS/GLOB]

TORONTO, Sept 1 (Reuters) – The Canadian dollar ended the
day slightly firmer against the U.S. dollar in quiet trade on
Thursday, even as concerns about global growth weighed on
markets and investors awaited key U.S. jobs data due out
Friday.

“Canada is closing a little bit stronger but we haven’t had
a very big move here,” said Matt Perrier, director of foreign
exchange sales at BMO Capital Markets.

TORONTO, Aug 8 (Reuters) – Canada’s dollar dropped more
than a cent to a near five-month low against the U.S. currency
on Monday, on rising fears of a U.S. recession exacerbated by
the United States’ loss of its triple-A credit rating.

The currency was caught up in a wave of selling that saw
U.S. stocks plunge more than 6 percent as investors fled to the
safety of gold and bonds. [MKTS/GLOB]