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Market Updates

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

Entry archive:

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, April 27

Earnings include: Barrick Gold, PrairieSky, Precision Drilling, Restaurant Brands, Advent Software Inc, Apple Inc.,Barracuda Networks Inc.,Berkshire Hills Bancorp Inc., Boston Ppties Inc., Churchill Downs Inc., Compass Minerals, Homestreet Inc., J & J Snack Foods Corp., Jones Lang LaSalle, PMC-Sierra Inc., Seaspan Corp., Southern Copper Corp., SS&C Tech Inc., The Container Store Grp Inc, Universal American Corp. , Wabash Natl Corp., Waste Connections Inc.

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At the close: Nasdaq, S&P 500 climb to record highs

HUGH MCKENNA

Stock markets in Toronto and New York ended the week relatively flat amid concerns over the strength of the U.S. economic recovery despite impressive headline numbers on growth in the American durable goods sector.

An exception was the Nasdaq, which continued its march into record territory on the heels of earnings reports from big technology companies like Microsoft, Google and Amazon that beat expectations.

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At midday: Nasdaq hits intraday high led by strong tech earnings

SOLARINA HO AND TANYA AGRAWAL

The Nasdaq composite index extended its gains in midday trading on Friday, hitting a 15-year intraday high, propelled by strong results from tech behemoths Google, Amazon and Microsoft.

Google gained 3.1 per cent to $575 after reporting higher quarterly revenue and profit and Microsoft added 8 per cent to $46.85 after it topped Wall Street estimates.

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At the open: TSX opens higher as banks lead gains

Canada’s main stock index opened higher on Friday, tracking global market gains, as the heavily weighted resource and financial stocks led advances.

The Toronto Stock Exchange’s S&P/TSX composite index rose 29.31 points, or 0.19 percent, to 15,421.66. Five of the index’s 10 key groups were rose.

Meanwhile, U.S. stocks opened higher on Friday as strong results from tech behemoths Google Inc, Amazon.com Inc and Microsoft Corp put the Nasdaq Composite on track to extend its ascent a day after surpassing a 15-year-old record.

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Premarket: Equities at all-time high after Nasdaq record

Lionel Laurent

Global equity markets rode to new all-time highs on Friday, with positive corporate updates in Europe and a post-dotcom-boom peak for the U.S. Nasdaq stoking investor optimism.

There were also some positive signs from previously deadlocked negotiations between Greece and its international creditors, with Athens offering concessions on some key reforms in exchange for urgently needed new funding.

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The close: Nasdaq closes at record high; TSX ends higher

The Nasdaq Composite closed at a record high on Thursday for the first time since the technology bubble burst 15 years ago.

The Dow Jones industrial average rose 20.42 points, or 0.11 per cent, to 18,058.69, the S&P 500 gained 4.97 points, or 0.24 per cent, to 2,112.93 and the Nasdaq Composite added 20.89 points, or 0.41 per cent, to 5,056.06.

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Nasdaq hits 15-year high, retakes record lost in 2000

Lu Wang and Callie Bost

The Nasdaq Composite Index needed 31 months to plunge 78 per cent after the Internet bubble burst in 2000. Climbing out of the hole took more than 12 years.

Led by a 132-fold increase in Apple Inc. and a 13-fold jump in Google Inc., stocks in the gauge on Thursday cleared the record 5,048 threshold that taunted investors for 15 years as a symbol of dot-com excess. The Nasdaq has advanced more than 350 per cent since bottoming in October 2002 after the slump erased about $6-trillion (U.S.) from American equity prices.

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At midday: TSX climbs higher as energy, resources lead rebound

Canada’s main stock index rose on Thursday, helped by gains among energy and resource stocks, which were bolstered by stronger commodity prices, and a modest rise by the influential financials group.

The biggest positive driver on the index included Canadian Natural Resources, which rose 1.01 per cent to $40.88, and Goldcorp Inc, which advanced 1.3 per cent to $23.37.

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At the open: Financials drag down TSX early

Canada’s main stock index was lower shortly after the open on Thursday, as declines among bank stocks offset moderate gains among energy and resource issues.

The Toronto Stock Exchange’s S&P/TSX composite index fell 9.97 points, or 0.07 per cent, to 15,294.8. Six of the index’s 10 key sectors were trading lower.

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Premarket: World stocks, euro sag after euro zone PMIs disappoint

Marc Jones

World shares weathered soft readings on Chinese and Japanese manufacturing on Thursday that merely drove expectations of more policy stimulus there, though lacklustre euro zone data was less well received.

European stock markets opened higher, spurred by multiyear highs in Asia, but the mood soured after sluggish euro zone and German purchasing manager data followed another dire set of numbers from France.

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The close: Gold mining shares, soft financials drag TSX lower

Canada’s main stock index slipped on Wednesday, driven by steep declines among gold miners and a retreat among heavily-weighted banks.

Modest gains among energy names offset some of the losses despite volatile trade in crude oil.

Concern over the Greek debt crisis sparked general investor caution, and aspects of the Conservative federal government’s budget seen as harmful to financial shares helped push the banks and insurers, which make up some 35 per cent of the index’s weight, down around 0.3 per cent.

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At midday: TSX retreats as concern over Greece spurs caution

Canada’s main stock index fell broadly on Wednesday with financial shares leading the retreat as concern over the Greek debt crisis sparked general investor caution amid mixed corporate earnings reports.

Six of the index’s 10 most influential declining stocks were from the heavily weighted financial group, which fell 0.9 per cent. Among them, Toronto-Dominion Bank dropped 1.0 per cent to $55.42, and Royal Bank of Canada declined 0.9 per cent to $79.59.

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At the open: TSX opens lower as bank, resource stocks lead declines

Canada’s main stock index opened lower on Wednesday, as a retreat by bank and resource stocks kept the index under pressure.

The Toronto Stock Exchange’s S&P/TSX composite index fell 45.87 points, or 0.3 per cent, to 15,300.57 shortly after the open. Half of the index’s 10 main sectors were in the red, with financial stocks down 0.8 per cent.

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Premarket: Earnings, Greece weigh on European stocks

Jamie McGeever

European stocks fell on Wednesday, failing to extend an overnight rally in Asia as investors looked to Greece’s debt crisis and lurch towards possible default as an excuse to cash in gains chalked up earlier in the week.

Europe’s EuroFirst 300 index of leading shares was down 0.2 per cent, Germany’s DAX was down 0.1 per cent and Britain’s FTSE 100 down a half of one per cent.

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The close: TSX declines as energy shares dip with oil price

Canada’s main stock index declined on Tuesday as shares of energy producers slipped with oil prices as worries about increasing U.S. inventories resurfaced.

The price of oil gave back 2 per cent, reflecting weakness after a recent rebound in sentiment.

The benchmark TSX index’s energy group retreated 1.5 per cent as oil prices fell on a stronger U.S. dollar. Suncor Energy Inc fell 0.9 per cent to $39.92, and Canadian Natural Resources declined 2 per cent to $40.13.

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At midday: TSX slides as resource shares drop

Canada’s main stock index fell on Tuesday as wary investors shied away from energy stocks as oil prices dipped and took profits on Canadian railways after they reported stronger than expected quarterly results.

Shares in the country’s two main railways, Canadian National Railway Co and Canadian Pacific Railway Ltd, rose on Monday ahead of their first-quarter earnings reports. On Tuesday, CN Rail, the most influential mover on the index, declined 3.1 per cent to $80.75, after climbing nearly 3 per cent the day before. CP Rail fell 0.8 per cent to $235.32 after its Monday rise.

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At the open: TSX falls as resources, financials lead declines

Canada’s main stock exchange turned negative shortly after the open, as weaker natural resource stocks and bank issues, the index’s most influential groups, dragged the market lower.

The Toronto Stock Exchange’s S&P/TSX composite index fell 42.98 points, or 0.28 per cent, to 15,369.62. Four of the index’s 10 main sectors declined.

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Premarket: Upbeat earnings lift world stocks, Greek anxiety hits euro

Marc Jones

World stocks climbed back towards all-time highs on Tuesday as upbeat European earnings reports and expectations of a sixth straight rise in German business confidence helped offset worries about a possible Greek default.

European trading started strongly with the pan-regional FTSEurofirst 300 index up over 0.6 per cent in early deals, after a 1.4 per cent jump by the Nikkei in Tokyo and a 2 to 2.5 per cent rises in China’s main markets had lifted Asia.

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The close: Markets rise on earnings news, China stimulus

Canada’s main stock index rose on Monday as oil price gains helped oil and gas companies, and railways and banks also moved higher.

The country’s two main railway companies both jumped ahead of their earnings. Canadian National Railway Co, which reported results after markets closed, gained 2.7 per cent to $83.35, and Canadian Pacific Railway Ltd added 2.2 per cent to $237.26.

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At midday: TSX rises as oil gains lift energy

Canada’s main stock index rose on Monday as oil price gains helped oil and gas companies offset weakness in other sectors, while financials, another index heavyweight, also provided support.

Suncor Energy Inc and Enbridge Inc were among the most influential movers on the index. Suncor rose 1.0 per cent to $40.52, while Enbridge advanced 1.2 per cent to $65.6.

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At the open: Markets higher after China moves to stimulate economy

North American stock markets opened higher following a decision by China’s central bank to boost that country’s economy.

The S&P/TSX composite index gained 22.17 points to trade for 15,382.72. The Canadian dollar was down 0.08 of a U.S. cent at 81.70 cents.

The increase on the stock market followed a move by China’s central bank to cut the required reserve ratio for banks by one percentage point on Sunday to stimulate lending.

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Top links: Global energy sector sees massive surge in investment

SCOTT BARLOW

A roundup of what The Globe and Mail’s market strategist Scott Barlow is reading this morning on the World Wide Web.

Volatility in energy markets is attracting an ocean of hedge fund and other investment capital in another sign of too much money chasing too few global investment opportunities:

“The money keeps piling into oil, with hedge funds, buyout firms and asset managers rushing to claim a spot at the table. “There is just so much money,” said [Jeffries Group Investment banker Joseph Gladbach], who noted that more than $100-billion (U.S.) has been raised and set aside for energy investments by the likes of Blackstone Group LP and Carlyle Group LP.

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Premarket: European shares up after China stimulus fails to lift Asia

Nigel Stephenson

Global stock markets had a mixed start to the week on Monday and core bond yields fell as investors juggled Chinese steps to stimulate its slowing economy and a proposed telecoms deal in Europe with growing worries Greece may default.

European shares opened higher, shrugging off falls in Asia after early gains there, driven by a hefty cut in the amount of cash Chinese banks must hold in reserves, faded.

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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, April 20

Japan tertiary industry index. Plus, Germany producer price index

(10:05 a.m. ET) Bank of Canada governor Stephen Poloz participates in panel discussion in New York

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The close: Markets dip amid worrisome overseas news

U.S. stock markets closed sharply lower Friday, with the Dow plunging nearly 300 points, while north of the border stronger gold prices helped the Toronto stock market keep losses in check.

The S&P/TSX composite closed down 26.22 points at 15,360.55, adding to a 64-point decline Thursday. The loonie also pulled back after a six-day run-up, down 0.32 of a U.S. cent at 81.78 cents.

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At midday: TSX drops with oil price

Canada’s main stock index was broadly lower on Friday as heavyweight oil and gas shares retreated on a drop in oil prices, while banks also took a hit.

Crude prices came under pressure from signs that supply is still growing, and the benchmark index’s energy group retreated 0.4 per cent.

In the group, Suncor Energy Inc fell 0.4 per cent to $39.92, and pipeline company Enbridge Inc declined 0.5 per cent to $64.08.

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At the open: Stocks sharply lower after Chinese crackdown

North American stock markets opened sharply lower Friday, as Chinese futures tumbled after regulators updated rules on margin trading.

In Canada, heavyweight banks and energy companies weighed as crude prices slipped on signs of rising supply. The Toronto Stock Exchange’s S&P/TSX composite index was down 101.65 points, or 0.66 per cent, at 15,285.12 shortly after the open. That was its lowest level all week.

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Friday’s small-cap stocks to watch

GILLIAN LIVINGSTON

Our roundup of Canadian small-caps making news and on the move today.

Premium Brands Holdings Corp. (PBH-T), a producer, marketer and distributor of branded specialty food products, announced it has closed the issue and sale of $60-million of 5 per cent convertible unsecured subordinated debentures at a price of $1,000 per debenture, with a maturity date of April 30, 2020.

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Premarket: Global equities near all-time highs despite Greek drama

Lionel Laurent

Global equities were set for their third straight weekly gain on Friday, hovering near fresh all-time highs as cheap central bank cash kept buoying markets and offset fears that Greece may run out of money as debt repayments loom.

The possibility that Athens might not be able to meet payments to the International Monetary Fund – which could mean default and eventually an exit from the euro zone – has pushed up Greek bond yields but sparked few ripple effects globally.

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The close: TSX ends lower as oil continues advance

Canadian stocks declined from a seven-month high on Thursday as energy companies ended a five-day rally and gold producers slumped.

Precision Drilling Corp. and Torc Oil & Gas Ltd. sank more than 3.4 per cent. Pacific Rubiales Energy Corp. soared on renewed speculation its largest shareholder will make a takeover offer. Alacer Gold Corp. and Tahoe Resources Inc. slid at least 3.8 per cent.

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