BMO earnings to be hit by commodity trading losses

Bank of Montreal says it is taking a charge of up to $450-million in the second quarter as a result of commodity trading losses in energy markets.

The bank said the loss, which could range from between $350-million and $450 million, would result in a hit of between 45 cents and 55 cents a share.

"During the quarter, positions held by BMO Financial Group in the energy market, primarily for natural gas, were negatively impacted by changes in market conditions.," the bank said.

Read Full Article from National Post

- Posted: 2007-04-27 09:38:14

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