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BMO on The Day Ahead in Canada
Canada will release the Labour Force Survey (LFS) for April at 8:30 a.m. ET on Friday, said Bank of Montreal (BMO).The bank notes that the labor market remains "soft" and the April LFS is unlikely to provide respite as BMO expects employment to remain steady in the month.This report will be the first to capture some weakness from the end of March, including previously-announced layoffs -- such as at an Algoma Steel plant in Ontario -- and the kick-off of the federal government's early retirement plan, pointed out BMO.The latter is expected to add downside risk to public administration jobs through the summer, partially offset by temporary Census hiring, as Ottawa tries to reduce spending following a decade-long hiring spree.The bank's call should keep the jobless rate steady at 6.7% for the third straight month, given weak employment against a backdrop of a stagnant labor force.Ultimately, the hiring environment is unlikely to improve "meaningfully," especially in tariff-hit sectors, until a deal is reached in the CUSMA trade deal negotiations, added BMO.
Earnings Flash (EDT.TO) Spectral Medical Reports Q1 Revenue $0.9M, Vs $572k a Year Earlier
Terna Supplies 36% of Q1 Electricity Demand With Renewables
European electricity transmission system operator Terna on Thursday said renewable energy has supplied 36% of the 80 terawatt-hour national power demand in Q1, and has accounted for 42% of the company's net total production of 68 TWh.During the quarter, the company has integrated 1.6 gigawatts of renewable capacity and around 1 gigawatt-hour of storage capacity.As of March, it has validated 84 GW of renewable energy projects, a rise from the prior quarter's 79 GW. The company's fully-permitted and ready-to-build renewable projects also grew to 12 GW, versus the previous quarter's 11 GW.Terna also saw growth in energy storage segment, with validated projects as of March increasing to 63 GW from the prior quarter's 56 GW, and ready-to-build projects expanding to 8 GW from 6.8 GW.In terms of revenue, the company posted a year-over-year rise in Q1, primarily due to higher contribution from the transmission segment.The report showed that transmission sales grew by 35 million euros ($41.20 billion), more than offsetting a 2-million-euro decline in dispatching revenue.