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Up-to-the-minute insights
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Entry archive:

The close: TSX, Canadian dollar finish lower as crude, gold fall

Canadian stocks fell to a two-week low on Friday, capping the third weekly decline in four, as commodities producers tumbled with the price of gold and oil.

Labrador Iron Ore Royalty Corp. lost 6.2 per cent as the price of iron ore retreated to the lowest in more than six years. Penn West Petroleum Ltd. and Pengrowth Energy Corp. lost at least 3.8 per cent as oil trimmed a weekly advance. Yamana Gold Inc. dropped 1.4 per cent as gold fell for the first time in eight sessions. BlackBerry Ltd. rose 2.5 per cent after posting a surprise profit after cutting costs.

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At midday: TSX falls as commodity producers decline

Eric Lam

Canadian stocks fell a third day, headed for the third weekly decline in four, as commodities producers tumbled with the price of gold and oil.

Labrador Iron Ore Royalty Corp. lost 4.9 per cent as the price of iron ore retreated to the lowest in more than six years. Penn West Petroleum Ltd. and Gibson Energy Inc. lost at least 3.2 per cent as oil trimmed its biggest weekly advance in four years. Detour Gold Corp. dropped 2.3 per cent as gold fell for the first time in eight sessions. BlackBerry Ltd. rose 3 percent after posting a surprise profit after cutting costs.

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At the open: TSX lower as energy stocks lead drag

The Toronto stock exchange was lower on Friday, as the index’s most heavily weighted groups, led by weak energy stocks, drove declines.

The S&P/TSX composite index was down 125.7 points to 14,744.14. Five of the index’s 10 main groups retreated, with energy stocks down 1.5 per cent.

The Canadian dollar slipped 0.05 of a cent to 80.05 cents (U.S.).

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Premarket: European stocks head for biggest weekly fall of the year

Marc Jones

European shares were heading for their biggest weekly fall of the year on Friday, as a second week of gains for oil prices and periphery euro zone bond yields brought to a halt a two month bonanza for the region’s equity markets.

Trading on the day was choppy with oil dropping back after Thursday’s spike and the world’s regional share and currency markets mixed as investors assessed the wider global impact of the rising tensions in the Middle East.

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The close: TSX ends lower even as oil surges

Canada’s main stock index ended lower on Thursday in a broad but shallow retreat fueled by a more cautious take on regional growth prospects, with Saudi airstrikes in Yemen also weighing on sentiment.

The Toronto Stock Exchange’s S&P/TSX composite index unofficially closed down 59.57 points, or 0.40 per cent, at 14,869.80. Eight of its ten main sectors finished in the red.

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At midday: TSX falls on broad declines despite oil price surge

Canada’s main stock index slipped on Thursday, as limited resource stock gains on the back of Middle Eastern violence were offset by broad pessimism about economic growth that affected banks, insurers, railways and others.

Saudi Arabia and its allies launched airstrikes on rebels in Yemen that spooked investors, boosting commodity markets but dampening enthusiasm for equities globally.

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At the open: TSX falls despite rising oil in wake of Yemen air strikes

CHUCK MIKOLAJCZAK

The Toronto stock market edged lower on Thursday, despite strength in the energy and mining sectors as oil and gold prices surged on Middle Eastern violence.

The Toronto Stock Exchange’s S&P/TSX composite index was down 72.73 points to 14,856.64.

The Canadian dollar rose 0.47 of a cent to 80.35 cents (U.S.).

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Premarket: Oil surges on Yemen air strikes, stocks tumble

Nigel Stephenson

Crude prices rose as much as 6 per cent on Thursday after Saudi Arabia and its allies launched air strikes on Yemen, pushing shares lower in Europe, the Middle East and Asia and lifting oil producers’ currencies.

The military operations, including air strikes, targeted Iran-backed Houthi rebels besieging the southern Yemen city of Aden. Arab producers ship oil via the Gulf of Aden and Suez Canal to Europe.

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The close: TSX down 1%, Nasdaq’s biggest fall in nearly a year

Canada’s main stock index ended sharply lower on Wednesday in a broad retreat led by heavyweight banking and insurance stocks, while a bounce in crude oil prices helped energy companies keep their heads above water.

The Toronto Stock Exchange’s S&P/TSX composite index closed down 151.34 points, or 1.00 per cent, at 14,929.92. Of the index’s 10 main sectors, only energy avoided a fall as the May crude contract moved ahead $1.70 to close at $49.21 a barrel.

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At midday: TSX gives back early gains

Toronto stock market gave back early gains and slipped into negative territory Wednesday morning.

The S&P/TSX composite index was down 11.52 points at 15,069.74 points, after starting the day higher.

The Canadian dollar also lost ground, dropping 0.16 of a cent to trade for 79.83 cents (U.S.).

On the commodity markets, the May crude oil contract reversed earlier losses and edged up 34 cents to $48.85 (U.S.) a barrel while the April gold bullion contact was up $2.60 at $1,194 (U.S.) an ounce.

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At the open: Stocks waver amid Kraft, Heinz deal, durable orders

SOFIA HORTA E COSTA AND JOSEPH CIOLLI

North American stocks fluctuated as Kraft Foods Group Inc. jumped on merger news and data showed durable goods orders unexpectedly dropped.

The Toronto stock exchanged opened higher on Wednesday as a weaker U.S. dollar helped fuel gains in commodity prices, pushing up shares in the energy and gold-mining sectors.

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Premarket: European shares dip but hold near highs after Ifo

Nigel Stephenson

European shares dipped on Wednesday but held near multi-year highs and the euro rose against the dollar after a survey showed the German business climate improving.

The pan-European FTSEurofirst 300 share index fell 0.2 per cent to 1601.50 points, still close to last week’s 7 1/2-year high. German business morale, as measured by the Ifo index, rose for the fifth successive month to its highest since July 2014.

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The close: TSX ends higher as energy, financial sectors rise

Canada’s benchmark stock index rose for a third straight session on Tuesday as gains in shares of energy producers and financial companies helped offset sluggish economic data from China.

A private survey showed that China’s factory sector activity fell to its lowest level in 11 months in March, raising concerns about growth in the world’s second-biggest economy and increasing hopes that the government might provide more stimulus.

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At midday: TSX rallies as consumer staples gain

Canadian stocks rose for a third consecutive day, headed for a two-week high, as grocers advanced and energy producers extended a rally.

Surge Energy Inc. and Penn West Petroleum Ltd. climbed at least 2.4 per cent as energy shares increased a third straight day. Metro Inc. increased 2.3 per cent to pace gains among consumer-staples shares. Sherritt International Corp. declined 2.2 per cent as a strike at its mine in Madagascar extended to a ninth day.

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At the open: Stocks rise despite sluggish China data, rate hike timing

INYOUNG HWANG AND JOSEPH CIOLLI

North American stocks edged higher in early trading Tuesday as investors weighed stronger-than-forecast gains in consumer prices for clues on when the U.S. Federal Reserve will raise interest rates, and contemplated weak data from China.

In Toronto, the S&P/TSX composite index was up 71.78 points to 15,028.99 as sluggish economic data from China helped offset strength in the energy sector.

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Premarket: Strong euro zone business data send euro, shares higher

Jemima Kelly

The euro rose and European shares edged up on Tuesday, responding to signs the euro zone economy is gaining momentum, while a slowdown in factory activity in China kept oil and commodities-linked assets under pressure.

In a sign the European Central Bank’s bond buying programme may already be paying dividends, a composite purchasing managers’ survey for the 19 members of the euro zone jumped to a near four-year high of 54.1 in March, well above forecasts.

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The close: TSX registers narrow gain as oil, metal prices rise

The Toronto stock market ended slightly higher as energy stocks and miners advanced on the strength of higher oil and copper prices.

The S&P/TSX composite index closed ahead 14.80 points to 14,957.21 — adding to gains last week after the U.S. Federal Reserve indicated it would continue with its wait-and-see approach to raising interest rates.

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At midday: TSX clings to advances as oil prices, loonie rise

The Toronto market got the week off to a positive start as oil prices and the Canadian dollar improved slightly.

The S&P/TSX composite index slipped from its high for the day, but remained up 8.38 points at 14,950.70.

On the commodity markets, the May crude oil contract was up 19 cents at $46.76 a barrel.

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At the open: TSX gains as energy, mining shares rise

The Toronto stock market opened higher as oil prices improved.

The S&P/TSX composite index advanced 47.57 points to 14,989.98 – adding to gains last week after the U.S. Federal Reserve continued with a wait-and-see approach to raising interest rates.

On the commodity markets, the May crude oil contract was up 20 cents a barrel at $46.77, rebounding from earlier lows, while the April gold bullion contract was down $1.40 at US$1,182.10 an ounce.

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Premarket: Greece worries leave Europe subdued, Asia makes gains

Marc Jones

Caution about Greece ahead of a meeting between its prime minister and Germany’s Angela Merkel prompted a nervy start to the week for European markets on Monday.

Shares and currencies in Asia, in contrast, had rallied on easy monetary policy hopes and another tick down in oil prices.

The euro and Europe’s main share markets fell in early trading, giving back some of the gains made at the end of last week after the U.S. Federal Reserve eased fears of an aggressive rise in its interest rates.

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The close: TSX climbs as energy, metals stocks push ahead

DAVID FRIEND

Higher commodity prices propelled the Toronto stock market to a solid gain as both the energy and metals sectors finished in positive territory.

And in the U.S., the Nasdaq composite index jumped to the highest level in 15 years, nearly wiping out its losses since the end of the dot-com bubble.

The S&P/TSX composite index rose 68.48 points to close at 14,942.41, marking a climb of 1.4 per cent over the week.

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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, March 23

Euro area reports consumer confidence for March.

(10 a.m. ET) U.S. existing home sales. Consensus is for a 2.5 per cent rise to an annualized rate of 4.94 million.

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At midday: TSX gains on higher metals prices; telecoms pressured

DAVID FRIEND

The Toronto stock market was ahead Friday as metals prices pushed higher, while the telecom sector took a hit after regulators unveiled major changes in how consumers will get their television services.

The S&P/TSX composite index rose 96.1 points to 14,970.03 near midday.

On the upside, the TSX mining and metals sector rose 3.2 per cent, with the April gold bullion contract ahead $12.50 to US$1,181.50 an ounce and the May copper contract up 6.3 cents to US$2.72 a pound.

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At the open: Stocks rise as Nasdaq tops 5,000

Roxana Zega and Michelle F. Davis

North American stocks rose, with the Nasdaq composite index climbing above 5,000, amid Nike Inc.’s stronger-than-predicted earnings and gains in energy shares.

Nike rallied as demand in North America and a bounce back in China offset the drag from a strong dollar on European sales. Biogen Idec Inc. gained after its experimental Alzheimer’s drug slowed progression of the disease in a study. Tiffany & Co. retreated after predicting currency headwinds will bring a sharp decline in net income.

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Premarket: Athens pledge, cautious Fed soothes Europe’s investors

John Geddie

The euro nudged towards its best week in 18 months while yields on low-rated bonds fell as investors welcomed the Fed’s cautious approach to raising interest rates and a reform pledge from Athens that could avert a cash crunch.

Illustrating the problems low inflation is causing for central banks looking to normalize monetary policy in the likes of the United States and Britain, oil was set to rack up its third weekly price slump.

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The close: TSX declines as oil prices fall on oversupply concerns

MALCOLM MORRISON

Energy stocks helped pull the Toronto stock market lower Thursday as oversupply concerns pushed down crude oil prices.

The S&P/TSX composite index declined 88.31 points to 14,873.93.

The April crude oil contract in New York fell 70 cents to US$43.96 a barrel and the energy sector gave back 2.75 per cent.

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At midday: TSX sinks as energy stocks pressured by lower crude prices

MALCOLM MORRISON

Energy stocks helped pull the Toronto stock market lower Thursday as oversupply concerns pushed oil prices lower.

The S&P/TSX composite index declined 91.87 points to 14,870.37.

The April crude oil contract in New York fell $1.32 to US$43.34 and the energy sector gave back 1.8 per cent.

Oversupply concerns have hit prices hard recently with crude down 14 per cent over the past eight sessions as inventories continue to climb. U.S. oil stockpiles rose by 9.6 million barrels last week – much more than expected. The latest worry is that oil storage space is becoming full, which could further depress prices.

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At the open: TSX lower as energy stocks fall alongside oil prices

MALCOLM MORRISON

Energy stocks helped pull the Toronto stock market lower in early trading Thursday as oil prices slid.

The S&P/TSX composite index declined 24.97 points to 14,937.27.

April crude contract in New York fell $1.60 to US$43.06.

The Canadian dollar gave back a good-sized chunk of a 1 1/4-cent surge experienced Wednesday after the U.S. Federal Reserve’s much-anticipated rate announcement. The loonie was down 0.85 of a U.S. cent to 78.7 cents Thursday.

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Premarket: Stocks and bonds roar Fed approval, U.S. dollar fights back

Marc Jones

World shares rose back towards all-time highs and a slump then jump in the dollar triggered wild moves in currency markets on Thursday, as investors priced in a later start and a slower pace for future U.S. rate rises.

European shares opened up 0.4 per cent with London’s FTSE hitting a new record peak after Asian bourses had enjoyed their best session in 18 months overnight.

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The close: TSX up as oil prices jump following Fed statement

MALCOLM MORRISON

Stock markets closed higher on indications that the U.S. Federal Reserve is in no rush to move interest rates away from near zero, where they’ve been since the 2008 financial crisis.

The S&P/TSX composite index ran up 63.71 points to 14,962.24 as the Fed said that it first wants to see further improvement in the economy, particularly in job creation and inflation levels.

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