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Scotiabank has $1.6 billion net income for Q2; adjusted earnings miss estimate

TORONTO - Scotiabank's second-quarter net income rose to $1.6 billion — up about $140 million from a year ago — but its adjusted earnings fell short of analyst estimates. The bank's adjusted earnings came in at $1.24 per share, up from $1.16 a year in the second quarter of 2012 but two cents below a consensus estimate. Scotiabank (TSX:BNS) says its profit attributable to common shareholders amounted to $1.23 per share of diluted earnings, up from $1.15 per share in the second quarter of 2012.

Oil, gas sector offsets drop in other commodities tracked by Scotiabank index

TORONTO - Scotiabank says its commodity price index slipped only modestly in April, dropping 0.2 per cent from the previous month and down 0.1 per cent from a year earlier, despite a sharp drop in gold. Scotiabank says stronger oil and gas prices partially offset declines in other commodity categories tracked by the index. The overall index stood at 147.5 in April, down four-tenths of a point from 147.9 in March and down two-tenths of a point from 147.7 in the same month of 2012.
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