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Market Updates

Up-to-the-minute insights
on developing market news

Entry archive:

The close: North American markets flat ahead of U.S. holiday

After a weak start to the day, North American stock markets closed mostly flat ahead of the U.S. Memorial Day holiday weekend.

Canadian stocks closed little changed as gains in health-care shares offset a drop among the consumer staples and energy sectors.

Valeant Pharmaceuticals International Inc. gained 2.3 per cent to a record. Metro Inc. slid 1 per cent to send consumer shares lower as April inflation was the slowest since 2013. Ensign Energy Services Inc. and Precision Drilling Corp. dropped more than 2.7 per cent amid a decline in crude oil.

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Calendar: What investors need to know for the week ahead

A daily rundown of the economic reports and corporate earnings that will be grabbing the market's attention in the week ahead.

Monday, May 25

UK markets closed (Bank Holiday)
U.S. markets closed (Memorial Day)


Tuesday, May 26

(8:30 a.m.) U.S. durable goods orders for April. Consensus is a decline of 0.5 per cent from March. Excluding transport, consensus is an increase of 0.4 per cent.
(10 a.m.) U.S. new home sales for April. Consensus is an annual-rate increase of 5.4 per cent.

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At midday: TSX retreats after recent rally

Canada’s main stock index retreated on Friday, weighed down by cooling energy and financial stocks, with investors taking some profits after making gains in four of the previous five sessions.

The top 10 biggest drags on the TSX were either in energy or financials. Enbridge Inc was the most influential loser on the index, falling 0.94 per cent to $62.08. Bank of Nova Scotia followed with a 0.6-per-cent loss to $64.60.

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At the open: TSX falls as energy stocks decline

Canada’s main stock index was lower shortly after the open on Friday, as key sectors like energy and financials gave back some of the previous session’s gains.

The Toronto Stock Exchange’s S&P/TSX composite index fell 44.09 points, or 0.29 per cent, to 15,159.52. Six of the index’s 10 main groups were in the red, with energy stocks down 0.7 per cent alongside weaker crude prices.

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Premarket: Stocks get that Friday feeling as stimulus trumps growth concern

Jamie McGeever

Global stocks rose and bond yields fell on Friday, as investors shrugged off slowing global growth and focused instead on the continued stimulus provided by the world’s major central banks.

Wall Street’s record high on Thursday lifted Asian stocks on Friday, a day that will be packed with key European and U.S. economic data as well as speeches from Federal Reserve chair Janet Yellen and European Central Bank president Mario Draghi.

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The close: TSX rises amid energy share gains

Jennifer Kaplan

Canadian stocks rose the most in two months as energy producers jumped with the price of crude and health-care companies rallied with railroads.

Penn West Petroleum Ltd. gained 7.2 per cent to lead a rise in energy shares as oil advanced 3 per cent in New York. Valeant Pharmaceuticals International Inc. jumped 2.4 per cent, contributing to a 2-per-cent gain for health-care companies. Canadian Pacific Railway Ltd. climbed 1.8 per cent.

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At midday: Energy stocks lead TSX rally; Shopify surges

Canada’s main stock index rebounded on Thursday, lifted in part by a general upbeat tone among investors and higher crude prices that bolstered energy stocks for the third straight session.

Valeant Pharmaceuticals International was by far the most influential individual gainer on the index, rising 2 per cent to $284.95. The company is in talks to buy Egyptian drugmaker Amoun Pharmaceutical Co, according to a Bloomberg report on Wednesday.

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At the open: TSX starts higher as energy stocks lead broad gains

Canada’s main stock index opened higher on Thursday, as higher crude prices helped lift energy stocks for the third straight session.

The Toronto Stock Exchange’s S&P/TSX composite index climbed 30.88 points, or 0.2 per cent, to 15,103.71. Among the index’s 10 biggest groups, only the tech sector was in the red.

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Premarket: Shares subdued by mixed China, euro zone PMI data

Marc Jones

World shares hovered near record highs on Thursday after downbeat Chinese manufacturing data put pressure on Beijing for more stimulus and the Federal Reserve signalled an increase in U.S. interest rates is still some way off.

European markets opened largely subdued, however, as disappointing German purchasing manager data (PMI) offset an improvement in France. That left the region’s main bourses down as much as 0.6 per cent and investors preferring bonds.

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The close: TSX falls, ending three-day advance

Canada’s main stock index ended lower on Wednesday, snapping a three-day winning streak, as banks led a broad retreat offset by gains in oil and gas shares.

The Toronto Stock Exchange’s S&P/TSX composite index closed down 48.19 points, or 0.32 per cent, at 15,072.83. The benchmark equity gauge had increased 0.9 per cent in the past three days.

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At midday: TSX rises broadly; Fed in focus

Canada’s main stock index rose broadly for the fourth straight day on Wednesday, with nearly every sector making gains and energy companies getting a boost from rebounding commodity prices.

Investors were also awaiting the minutes from the Federal Reserve’s April meeting for clues on when the U.S. central bank will likely resume hiking interest rates.

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At the open: TSX rises as resource, commodity stocks gains

Canada’s main stock index was higher shortly after the open on Wednesday with the most influential gains attributed to energy and mining stocks, which offset declines in most other sectors.

The Toronto Stock Exchange’s S&P/TSX composite index rose 9.35 points, or 0.06 per cent, to 15,130.37. Seven of the index’s 10 main groups were in the red, however. Energy stocks were up 0.8 per cent, while materials rose 0.6 per cent.

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Premarket: Euro slides as Greek official says IMF repayment in doubt

Jamie McGeever

The euro slid to a two-week low and a rally in European shares stalled on Wednesday after a Greek official said the country may not make an upcoming repayment to the International Monetary Fund.

The euro’s fall follows remarks from a European Central Bank board member on Tuesday that the central bank could increase the pace of its bond-buying in May and June, bringing its losses against the dollar this week to more than 3 per cent.

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The close: TSX edges up as health-care gains offset by energy slump

Financial stocks helped Canada’s main stock index gain for a third consecutive session on Tuesday as investor optimism got a boost from Bank of Canada commentary and the U.S. Dow industrials closing at a record high.

The Toronto Stock Exchange’s S&P/TSX composite index rose 12.90 points, or 0.09 per cent, to 15,121.02. The market was closed on Monday, when two major U.S. indices hit record closing highs. Six of the index’s 10 main groups fell.

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At midday: TSX lifted by financials, record U.S. stocks

Canada’s main stock index climbed for the third straight session on Tuesday, as financial stocks helped lead the market higher and investor optimism got a boost from U.S. stocks closing at record highs on Monday.

Valeant Pharmaceuticals International Inc, a perennial index heavyweight, lead with a 2.7-per-cent rise to $277.24. The overall healthcare group jumped 2.1 per cent.

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At the open: TSX, loonie fall early

The Canadian dollar is trading below 82 cents (U.S.) after dropping more than a U.S. cent since last week.

The loonie traded at 81.82 cents US, down 1.36 of a U.S. cent from Friday’s close before the Victoria Day holiday weekend.

It’s the first time since early May that Canada’s dollar has fallen below 82 cents US.

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Premarket: Euro, bond yields tumble as ECB hints at faster buying

Marc Jones

The euro tumbled on Tuesday and the region’s stocks and bonds jumped after the European Central Bank suggested it may speed up its 1 trillion euro bond-buying campaign slightly to account for lower market liquidity in high summer.

World stocks were already testing all-time highs after another jump in Chinese stocks and a record close on Wall Street, and European markets shot up after top policy maker Benoit Coeure talked of adjusting the ECB’s buying program.

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Calendar: What investors need to know for the week ahead

A daily rundown of the economic reports and corporate earnings that will be grabbing the market's attention in the week ahead.

Monday, May 18

Japan machine orders and industrial production
Markets closed in Canada for Victoria Day

Earnings include: Agilent Tech Inc.; Take-Two Interactive Software Inc.; Urban Outfitters Inc.

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Premarket: European stocks rise, dollar rebounds

Nigel Stephenson

European shares rose on Monday, with energy stocks in focus after a rise in oil prices, while the dollar lifted off four-month lows it had reached on concern over the U.S. economy.

The pan-European FTSEurofirst 300 stocks index opened down but quickly recovered and was last up 0.6 per cent, led higher by commodity stocks.

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The close: TSX rises on resource-led rally

Canadian stocks rose a second day, paring a third week of losses, as raw-materials producers and railway shares climbed.

Labrador Iron Ore Royalty Corp. surged 11 per cent after Osisko Gold Royalties Ltd. bought a stake in the company. Canadian National Railway Co. and Canadian Pacific Railway Ltd. gained at least 0.8 percent to pace gains among industrial stocks.

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At midday: TSX steady as energy, financials offset wider gains

Canada’s main stock index was little changed on Friday as losses in the financial and energy sectors offset gains across an otherwise positive market.

Energy stocks were hit by slumping crude prices, which fell on reports that an increasing oversupply of oil was boosting global inventories.

Encana Corp was among the most influential decliners. Shares fell 2.67 per cent to $16.06. Overall, energy stocks, which make up a hefty 20 percent of the index, retreated 0.4 per cent. U.S. crude was down 0.8 per cent to $59.41, while Brent crude lost 0.5 per cent to $66.36.

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At the open: TSX slips as resources, banks lead declines

Canada’s main stock index opened lower on Friday, as the index’s most influential sectors, energy, financials and materials, led declines.

The Toronto Stock Exchange’s S&P/TSX composite index fell 16.67 points, or 0.11 per cent, to 15,011.45 shortly after the open. Half of the index’s 10 main groups were in negative territory.

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Premarket: Global shares set for weekly gain as bonds stabilize

Lionel Laurent

Global shares were on track for a weekly rise on Friday, with Europe following Asia higher, as bond-market jitters eased after a roller-coaster unwind of bets linked to the European Central Bank’s stimulus plan.

European bond yields were down across the board and top shares were in positive territory, with the pan-European FTSEurofirst 300 equity index up 0.4 per cent, with traders pointing to a calmer end to the week after the Ascension Day holiday on Thursday and recent jumps in German yields.

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The close: TSX breaks slide; S&P 500 hits record

Canada’s main stock index broke a three-day slide on Thursday in a broad rally in which gold miners gained on higher bullion prices as the U.S. dollar weakened, but the heavyweight oil and gas sector fell along with crude prices.

The Toronto Stock Exchange’s S&P/TSX composite index  ended up 47.40 points, or 0.32 per cent, at 15,028.12. Nine of the index’s 10 main sectors gained.

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At midday: TSX rebounds, gold rally provides lift

Canada’s main stock index rose on Thursday as resource stocks, buoyed by a gold rally, helped the market rebound from recent losses.

The most influential movers on the index were Goldcorp Inc, which rose 2.84 per cent to $23.90, and Barrick Gold Corp, which advanced 1.5 per cent to $16.07.

The overall materials sector, home to mining companies, climbed 1.3 percent.

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At the open: TSX higher as gold miners offset industrials

Canada’s main stock index opened higher, as gains in the materials sector, led by gold miners, offset weakness led by the industrial group.

The Toronto Stock Exchange’s S&P/TSX composite index was up 33.94 points, or 0.23 per cent, at 15,014.66 shortly after the open.

The loonie traded at 83.81 cents US, up 0.25 of a U.S. cent from Wednesday’s close.

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Premarket: Euro at three-month high, bond yields key

Jamie McGeever

The euro hit a three-month high against the dollar on Thursday, drawing further support from a sustained surge in euro zone government bond yields that again kept global stock markets on the defensive.

Investors digested figures from the previous day that showed relatively strong euro zone economic growth in the first quarter, contrasting with disappointingly weak U.S. retail sales in April.

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The close: TSX falls to six-week low as railways, energy decline

Canadian stocks fell to a six-week low as the nation’s largest railways tumbled and energy producers declined, overshadowing a rally among precious metals producers.

Canadian National Railway Co. and Canadian Pacific Railway Ltd. retreated more than 2.3 per cent to pace declines among industrial shares. Pipeline operators Enbridge Inc. and TransCanada Corp. slipped at least 0.7 per cent. Encana Corp. tumbled 2.3 per cent after analysts at RBC Capital Markets lowered the stock’s rating to the equivalent of a hold.

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At midday: TSX falls for third consecutive day

Canada’s main stock index fell for a third straight session on Wednesday, reversing early gains, as U.S. economic data disappointed the market, while rising gold miners limited the loss.

Canadian National Railway Co was the index’s biggest heavyweight decliner. The country’s biggest railway fell 2.04 per cent to $74.97. Canadian Pacific Railway Ltd was not far behind, falling 2.1 per cent to $214.94. The railways are in the index’s industrials group, which retreated 0.9 per cent.

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At the open: TSX rebounds as all 10 main sectors rise

Canada’s main stock index climbed shortly after the open on Wednesday, with all 10 of the index’s main groups rebounding broadly following Tuesday’s broad retreat.

The Toronto Stock Exchange’s S&P/TSX composite index up 28.19 points, or 0.19 per cent, at 15,071.34.

U.S. stocks opened slightly higher on Wednesday as investors digested a raft of data that indicated the economy was struggling to make a strong rebound after growth in the first-quarter slowed to a crawl.

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