The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

Market Updates

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

Entry archive:

The close: TSX ends up on gains for banks, miners

Canada’s main stock index ended higher on Friday, its fourth straight session of gains, as investors saw value in some beaten-down miners and banks that have also been under pressure.

The Standard & Poor’s/TSX Composite Index rose 85.95 points, or 0.6 per cent, to 14,468.73 in Toronto. It rose 2 per cent for the week, the most since April. The S&P/TSX slumped 0.6 per cent in July for a third monthly decline. Canadian equity markets will be closed on Monday for a civic holiday.

More »

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 August 3

Japan, China and Euro area PMI

(8:30 a.m. ET) U.S. personal spending and personal income for June. Consensus is an increase of 0.2 per cent and 0.3 per cent, respectively, over May.
(8:30 a.m. ET) U.S. core PCE price index for June. Consensus is an increase of 0.1 per cent for personal spending and 1.2 per cent for personal income year over year.
(10 a.m. ET) U.S. manufacturing ISM for July. For PMI, consensus is 53.5 (no change from June). For prices paid, consensus is 49.5 (also unchanged from previous month)

More »

At midday: Banks, miners push TSX toward fourth straight gain

Canada’s main stock index was headed for its fourth straight day of gains on Friday with the heavily weighted financials and materials sectors leading the way as investors sought value after a bleak couple of months for the market.

The rise came despite losses in oil and gas stocks, which were hurt by a drop in crude prices after output numbers showed the OPEC producers were pumping near record levels into an already oversupplied market.

More »

At the open: TSX rises, bolstered in part by financials, materials

Canada’s main stock index was higher on Friday, as the heavily-weighted financial and materials stocks rose, offsetting losses among energy names.

The Toronto Stock Exchange’s S&P/TSX composite index was up 12.41 points, or 0.09 per cent, at 14,395.19 shortly after the open. Only three of the index’s 10 main groups were in positive territory.

More »

Premarket: Commodities, China stocks lick wounds after brutal July

Marc Jones

Commodities and China investors waved a relieved goodbye to July on Friday following a brutal sell-off that has revived fears about the global economy and overshadowed more encouraging news from the U.S. and Europe.

There were signs that the rout wasn’t over yet as Chinese stocks – which have suffered their worst monthly drop in 6 years – wobbled again, oil prices slipped following a more than 15 per cent July slump and metals from industrial copper to precious gold hit multiyear lows.

More »

The close: TSX ends higher boosted by energy stocks

Canada’s main stock index rose on Thursday, helped by a second day of gains for energy shares after plumbing new depths earlier in the week, and with shares in Open Text Corp surging after the software company’s outlook impressed investors.

The energy sector jumped 2.9 per cent, after gaining a similar amount on Wednesday, after separate data showed a much steeper than expected drawdown in U.S. stockpiles and a slip in U.S. production.

More »

At midday: TSX rises in choppy trading

Canada’s main stock index was higher in extremely choppy trading on Thursday as a solid rebound in energy stocks due to bargain hunting and oil prices bouncing off recent lows offset disappointing earnings.

Among the most influential movers on the index were Suncor Energy Inc, which rose 5.57 per cent to $36.55, and Canadian Natural Resources, which advanced 2.5 per cent to $31.52. The hefty energy sector climbed 3.1 per cent.

More »

At the open: TSX fall as materials, Bombardier drag

Canada’s main stock index turned negative shortly after the open on Thursday, as stronger energy stocks failed to offset weaker materials and financials shares, as well as disappointing earnings and news from Bombardier.

The Toronto Stock Exchange’s S&P/TSX composite index fell 36.47 points, or 0.26 per cent, to 14,265.33. Seven of the index’s 10 main groups were in the red.

More »

Premarket: Global stocks subdued on U.S. rate hike caution

Marc Jones

The dollar jumped and world stocks were left flat-footed on Thursday after the Federal Reserve painted a relatively bright picture of the U.S. economy, boosting bets that it will hike interest rates in September.

Europe’s stock markets had initially started brightly but began to fade as attention switched from company earnings from the likes of Siemens and Deutsche Bank to upcoming euro zone unemployment, business sentiment and German inflation data.

More »

The close: TSX bounces higher on Fed, oil

Canada’s main stock index closed sharply higher on Wednesday, helped by gains in banks, railways and oil companies as crude prices bounced off near six-month lows and the U.S. Federal Reserve left the door open for a September interest rate hike.

The Toronto Stock Exchange’s S&P/TSX composite index ended up 224.44 points, or 1.59 per cent, at 14,301.80. The energy, financial and industrial sectors all clocked gains of more than 2 per cent.

More »

At midday: TSX moves higher with help from energy sector

The Toronto Stock Exchange moved higher on Wednesday, helped by strength in the energy sector and a rising price for oil.

Encana Corp. added 3 per cent, while Precision Drilling Corp. climbed 4.4 per cent as oil rose. Toronto-Dominion Bank and Bank of Nova Scotia increased at least 1.1 per cent. Torstar Corp., owner of the Toronto Star newspaper, headed for a 2009 low after earnings missed estimates and it acquired a stake in a digital media company. CGI Group Inc. dropped 4.2 per cent after quarterly sales missed estimates.

More »

At the open: TSX ekes out gain ahead of Fed decision

Canada’s main stock index was marginally firmer shortly after the open on Wednesday, but moves were extremely limited ahead of the U.S. Federal Reserve’s interest rate statement due later this afternoon.The Toronto Stock Exchange’s S&P/TSX composite index rose 9.23 points, or 0.07 per cent, to 14,086.59. Half of the index’s 10 main groups were positive, including the heavily weighted financials group.T

More »

Premarket: Upbeat earnings lift European stocks ahead of Fed

Emelia Sithole-Matarise

European equities advanced on Wednesday, spurred by strong corporate earnings and gains in U.S. and Asian markets on hopes that Beijing could stem the rout in its markets without damage to the world’s second biggest economy.

The euro, the dollar and the yen held steady as caution reigned before a policy decision from the U.S. Federal Reserve.

More »

The close: TSX up as energy shares bounce on steady oil price

Canada’s main stock index snapped a 7-day losing streak on Tuesday, with energy shares bouncing off lows in line with a steadying in the price of oil.

The Toronto Stock Exchange’s S&P/TSX composite index unofficially ended up 75.99 points, or 0.54 per cent, at 14,077.36. Nine of the index’s 10 main sectors gained, with the energy sector rising 2 per cent. The gauge has fallen more than 10 per cent from an all-time record on Sept. 3 and is 8.9 per cent below an April 15 high.

More »

At midday: TSX scratches higher after seven-day skid

Canada’s main stock index edged higher on Tuesday after a seven-day streak of losses as investors picked through earnings reports and several resource stocks got a bounce from recent lows.

BlackBerry Ltd gained 4.8 per cent to $9.96 after Morgan Stanley upgraded the stock of the smartphone pioneer.

Shares in oil company Husky Energy Inc jumped 3.4 per cent to $23.34 after its quarterly report.

More »

At the open: BlackBerry jumps on Morgan Stanley upgrade

BlackBerry Ltd. jumped as much as 6.3 per cent in early trading on Tuesday in the wake of an upgrade on the U.S. issue of the stock from a  Morgan Stanley analyst.

Touting the smartphone maker’s cash reserves and ability to further cut costs, analyst James Faucette raised his rating to "equalweight/cautious" from the "underweight/cautious". BlackBerry was up 4.69 per cent to $7.62 (U.S.) at 9:53 a.m. in New York, the most since May 15. The stock had fallen 34 per cent this year through Monday.

More »

Premarket: Global stocks rebound, shrugging off volatile and weak China

Jamie McGeever

Stocks rose on Tuesday, with Europe snapping a five-day losing streak as investors shrugged off further weakness in commodity markets and Chinese shares to focus on more encouraging merger activity and earnings.

Oil languished at four-month lows and China’s benchmark stocks fell for a third straight day, but developed market equities and commodity currencies recovered.

More »

The close: TSX breaks below 14,000

Canada’s main stock index fell 1.3 per cent on Monday, stung by a slump in Chinese equities that infected commodity prices and in turn hurt Canadian miners and oil and gas companies.

The Toronto Stock Exchange’s S&P/TSX composite index ended down 184.87 points at 14,001.37. It breached 14,000 during the day for the first time since January. The gauge has fallen 10 per cent from an all-time record on Sept. 3 and is 9.4 per cent below an April 15 high.

More »

At midday: TSX slides, beaten down by China, commodities

Jennifer Dowty

The S&P/TSX composite index is down over 100 points on mid-day Monday, nearly 1 per cent driven lower by energy stocks as the Chinese contagion spreads to North America. 

Of the 10 sectors in the Index, only one sector is in positive territory, the healthcare sector.  Four of the ten sectors are down over 1 per cent today led by the energy sector, information technology, financials, and materials. 

More »

At the open: TSX sinks, tracking China, global equities

Canada’s main stock index sank 1 per cent shortly after the open on Monday, in a broad rout that tracked global equities, which fell on the heels of a more than 8-per-cent plunge in Chinese stocks.

The Toronto Stock Exchange’s S&P/TSX composite index was down 142.28 points, or 1 percent, at 14,043.96 shortly after the open.

More »

Premarket: European shares slide taking cue from Asia

Patrick Graham

European stocks and major commodity prices fell hard on Monday as concerns over China dominated financial markets in the wake of the biggest drop in Shanghai shares in eight years.

The dollar was weak ahead of the week’s main set piece – Wednesday’s Federal Reserve policy decision and statement – with a better than expected survey of German business sentiment pushing the euro above $1.11 for the first time in a fortnight.

More »

China stocks tumble, suffer biggest one-day loss in eight years

Samuel Shen And Pete Sweeney

Chinese shares slid more than 8 per cent on Monday as an unprecedented government rescue plan to prop up valuations ran out of steam, throwing Beijing’s efforts to stave off a deeper crash into doubt.

Major indexes suffered their largest one-day drop since 2007, shattering three weeks of relative calm in China’s volatile stock markets since Beijing unleashed a barrage of support measures to arrest a slump that started in mid-June.

More »

The close: TSX ends lower as oil prices weigh on energy shares

The sustained slump in global commodity prices has pushed Canadian stocks to the longest losing streak in two years.

Encana Corp. tumbled 8.6 per cent on Friday after the company posted a wider operating loss than estimated. Baytex Energy Corp. decreased 8.2 per cent as U.S. crude traded in a bear market. Valeant Pharmaceuticals International Inc. lost 1 per cent to snap a two-day gain after overtaking Royal Bank of Canada as the nation’s largest company by market value.

More »

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 July 27

(8:30 a.m. ET) U.S. durable goods orders for June. Consensus estimate is an increase of 3.3 per cent from May. Excluding transport, consensus is an increase of 0.4 per cent

More »

At midday: TSX extends slide on commodities rout, earnings

Canada’s main stock index fell on Friday as a rout in commodity prices pushed mining and energy stocks toward deeper losses, while disappointing earnings and some profit taking also added to the declines.

“What we’re into here is a bit of a malaise as concerns build about the economy in Canada ... and the state of the global commodities,” said Michael Sprung, president at Sprung Investment Management Inc.

More »

At the open: TSX extends losses, dragged by Valeant

Canada’s main stock index extended its losses for the week on Friday, hurt by profit taking on Canadian drugmaker Valeant Pharmaceuticals International Inc and continued declines in the key financials, materials and energy groups.

The Toronto Stock Exchange’s S&P/TSX composite index fell 40.95 points, or 0.29 per cent, to 14,224.42 shortly after the open. Half of the index’s 10 main sectors lost ground.

More »

Premarket: Metals hit multiyear lows on global growth concerns

Marius Zaharia

Metal prices hit multiyear lows on Friday after weaker-than-expected data from China and the euro zone raised concerns about global growth, but the U.S. dollar rose as a Federal Reserve rate hike was still on the table.

London copper fell to its lowest level since 2009 after a survey showed China’s factory sector contracted by the most in 15 months in July due to shrinking orders, fuelling worries over demand in the top metals consumer as stockpiles steadily mount.

More »

The close: TSX ends lower as financials, resources decline

Canada’s main stock index declined for a fifth straight session on Thursday, hit by losses in the heavyweight financials, energy and materials sectors.

While positive quarterly results helped boost gains in some large-cap Canadian companies, weakness in copper, bullion and U.S. crude oil prices ensured the key natural resource sectors would end the day in the red.

More »

At midday: TSX slides for fifth day, but earnings temper losses

Canada’s main stock index was headed for its fifth straight decline on Thursday as losses by the main financials, energy and materials sectors offset gains from companies reporting positive quarterly results.U.S. crude prices were mostly flat but remained below $50 a barrel, levels that kept the pressure on energy shares, which were down 1.0 per cent.

More »

At the open: TSX falls in choppy trading

Canada’s main stock index was lower shortly after the open on Thursday, but early trading was extremely choppy, with declines in financial shares offsetting some of the gains from companies reporting upbeat quarterly results.

The Toronto Stock Exchange’s S&P/TSX composite index fell 50.14 points, or 0.35 per cent, to 14,256.98. Seven of the index’s 10 main groups were in the red.

More »

Video »

Blog contributors

Most Popular