$NA

Nano Labs Ltd (NA) reported a net loss of RMB316.7 million (US$46.5 million) for the first half of 2026, compared to RMB11.8 million in 2025. Revenue fell to RMB2.8 million (US$0.4 million) from RMB8.3 million. The company attributed the loss to market volatility in cryptocurrency values, particularly BNB. Nano Labs also announced a long-term reserve of 70,000 BNB and a share repurchase program totaling US$3.2 million.

Canada's major banks reported Q3 earnings, with all six beating analysts' expectations. Scotiabank (BNS) saw a 17% profit increase, BMO (BMO) reported a 25% decline but beat estimates, and RBC (RY) posted an 11% rise. National Bank (NA), CIBC (CM), and TD Bank (TD) also reported higher profits. Canadian bank stocks have risen 24% this year.

National Bank of Canada reported a 23% increase in Q3 net income to $1.31B, or $3.25 per share, exceeding analysts' expectations. Adjusted earnings were $3.39 per share, beating estimates. Revenue rose 18% to $4.05B, while expenses increased 9% to $2.09B. The bank set aside $246M for credit losses. Profits grew across personal/commercial banking, capital markets, and wealth management.

Canadian bank stocks have surged 24% this year, outperforming broader indices. Analysts expect 15% year-over-year EPS growth, driven by capital markets strength and loan demand. Earnings reports from major banks like Scotiabank (BNS) and RBC (RY) are due this week. Analysts caution about high valuations and economic uncertainty.

StockTargetAdvisor’s Aug 12, 2026 note highlights five TSX themes: Cargojet, Canadian banks, Montage Gold, Air Canada and CNQ. It cites analyst target hikes for Cargojet (Desjardins to C$135, Scotiabank to C$125, National Bank to C$112). For Air Canada, it says an Aeroplan minority deal is expected to raise about C$2.5B for debt repayment and buybacks, while Air Canada cut 2026 core profit guidance to C$2.9B–C$3.2B.

TD Cowen analyst Mario Mendonca (TD Cowen) warns Canadian bank multiples could compress as operating leverage and revenue growth moderate, citing CMRR growth slowing and flat NIMs in 2028. He raised targets for BMO, CIBC, and RBC, and adjusted BNS and NB. Raymond James analyst Stephen Boland also updated Big 6 targets. Desjardins analyst Benoit Poirier said Cargojet shares rose after results.

Canada’s banks say they face hurdles financing defence firms because many SMEs lack prior procurement contracts and compliance track records. The government plans to expand defence spending, including a $6-billion BDC defence financing program and a defence industrial strategy to triple revenue. Banks cite regulatory and risk constraints, while procurement cycles can take about seven years.

Nano Labs Ltd. (Nasdaq: NA) said it was approved to join the Canton Network as a Validator Node, adding its node infrastructure to the network’s validator ecosystem. The Canton Network is described as an institutional blockchain involving firms such as Goldman Sachs, BNY Mellon, Visa, and DTCC. Nano Labs expects expanded collaboration on digital asset infrastructure and institutional blockchain applications.

Canada’s S&P/TSX Composite (^GSPTSE) closed at 35,369.08, up 408.76 points (+1.17%). The move was attributed to rebounds in tech and materials, plus higher metals and oil amid U.S.-Iran ceasefire hopes and ongoing tariff/geopolitical concerns. Notable gainers included DSV, HBM, TKO, CLS; losers included BRE, NA, BN, CM.

Canada’s TSX fell 62.93 points to 35,200.92 by midday as financial and healthcare stocks declined amid cautious sentiment over escalating U.S.-Iran tensions and a softer-than-expected CPI. Canadian Imperial Bank of Commerce and National Bank of Canada dropped, while Celestica rose. Statistics Canada said June CPI rose 2.8% y/y.