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Market Updates

Up-to-the-minute insights
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Entry archive:

Premarket: Euro hits 11-year low before ECB, stocks edge higher

Marc Jones

The euro hit an 11-year low against the dollar and the region’s stocks nudged higher on Thursday, as the European Central Bank prepared to provide the finer details of its soon-to-be-launched 1 trillion euro stimulus plan.

The common currency fell to as low as $1.1026, its lowest level since September 2003 and the region’s stock and periphery bond markets opened up as hopes for the ECB’s policy meeting in Cyprus lifted investors’ spirits.

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The close: TSX moves lower in broad-based decline

Malcolm Morrison

The Toronto stock market closed lower Wednesday in a broad-based decline led by mining, energy and financial issues.

The S&P/TSX composite index was 51.01 points lower at 15,082.84 as traders looked to the latest interest rate announcement by the Bank of Canada and positive economic data from the United States.

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At midday: TSX falls lower

Malcolm Morrison

The Toronto stock market was lower Wednesday in a broad-based decline led by mining, energy and financial issues.

The S&P/TSX composite index was 107.19 points lower at 15,026.66 as traders looked to the latest interest rate announcement by the Bank of Canada and positive jobs data from the United States.

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At the open: TSX down as central bank keeps rates steady

DAVID FRIEND

The Toronto stock market was lower ahead of the latest interest rate announcement by the Bank of Canada and positive jobs data from the United States.

The S&P/TSX composite index was 100.4 points lower at 15,033.42, weighed down by mining and tech stocks.

The Canadian dollar moved down 0.17 of a U.S. cent to 79.89 cents ahead of the central bank’s mid-morning announcement. Analysts generally expect the bank to hold the line on interest rates following its surprise quarter-point cut in January.

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Premarket: Global stocks pull back further from record highs

Lionel Laurent

Global equities pulled back from recent record highs on Wednesday, with investors turning cautious after underwhelming euro zone PMI data and ahead of central bank meetings.

U.S. jobs data due Friday was also on investors’ minds, with the dollar index hitting an 11 1/2-year high, while the euro crashed through support levels that have held for more than a month. It hit a six-week low under pressure from the imminent launch of the European Central Bank’s bond-buying program.

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The close: Markets slide as stocks retreat from record highs

DAVID FRIEND

North American stocks retreated the day after the Nasdaq Composite Index climbed above 5,000 for the first time in 15 years, as health-care and technology companies slid.

Health-care companies in the Standard & Poor’s 500 Index lost 0.9 per cent, after reaching an all-time high Monday. Alibaba Group Holding Ltd. fell to the lowest since it began trading in September.

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At midday: TSX pulls back on broad declines despite strong GDP data

DAVID FRIEND

The Toronto stock market pulled back Tuesday near midday, with nearly every major sector lower after data showed growth in the Canadian economy slowed in the final months of last year.

The S&P/TSX composite index dropped 143 points to 15,121.01, while the Canadian dollar rose 0.52 of a U.S. cent to 80.30 cents.

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At the open: Stocks fall from records after Nasdaq hits 5,000 points

INYOUNG HWANG

U.S. and Canadian stocks retreated after the Nasdaq Composite Index closed above 5,000 for the first time in 15 years, as investors awaited jobs data and a policy meeting from the European Central Bank later this week.

The S&P 500 Index slipped 0.5 per cent or 11.5 points to 2,105.89 in morning trading in New York after the benchmark gauge closed at a record Monday. The Nasdaq Composite fell 29.62 points to 4,978.48. The Dow Jones industrial average declined 85.99 points to 18,202.64.

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Premarket: German data helps keep European shares near highs

Marius Zaharia

European shares rose close to seven-year highs on Tuesday as better than expected German retail sales further buoyed investors days before the European Central Bank kicks off a trillion-euro bond buying program.

The gains follow a rise in Asia and another record day on the Wall Street.

Euro zone government bond yields were slightly higher but remained near record lows as investors anticipated the ECB’s purchases. The central bank will finalize the details of its scheme at its meeting on Thursday and may start buying immediately after that.

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The close: Nasdaq reclaims 5,000; Dow, S&P 500 end at records

MALCOLM MORRISON

Nasdaq on Monday closed above 5,000 for the first time since the 2000 dot-com bubble, as tech stocks were boosted by deals, and the S&P 500 and Dow ended at record highs after economic data pointed to a slowly accelerating economy.

Based on the latest available data, the Dow Jones industrial average rose 155.41 points, or 0.86 per cent, to 18,288.11, the S&P 500 gained 12.79 points, or 0.61 per cent, to 2,117.29 and the Nasdaq Composite added 44.57 points, or 0.9 per cent, to 5,008.10.

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At midday: TSX rises amid China rate cut, slowing U.S. activity

Malcolm Morrison

The Toronto stock market was modestly higher Monday morning as the latest reading on U.S. manufacturing showed slowing expansion and the Chinese central bank moved to spark that country’s slowing economy through a rate cut.

The S&P/TSX composite index gained 28.59 points to 15,262.93, held back by further losses in the energy and gold sectors. The Canadian dollar declined 0.13 of a U.S. cent to 79.85 cents.

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At the open: Nasdaq tops 5,000 for first time since 2000

The Nasdaq Composite index hit the 5,000 mark on Monday for the first time since March 27, 2000 and edged closer to its 5,132.52 all-time peak it reached that same month in the frenzy of the dot-come bubble.

The Dow Jones industrial average rose 108.98 points, or 0.6 per cent, to 18,241.68, the S&P 500 gained 8.35 points, or 0.4 per cent, to 2,112.85 and the Nasdaq Composite added 33.82 points, or 0.68 per cent, to 4,997.35.

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Premarket: Europe shares hold at 7-year highs, China rate cut lifts Asia

Nigel Stephenson

European shares clung to seven-year highs on Monday, lifted by merger activity in the telecoms sector, while Asian stocks edged up after China cut interest rates at the weekend.

The dollar hit an 11-year high against a basket of currencies, partly as a result of a weaker Chinese yuan and on growing prospects of a rise in interest rates from the U.S. Federal Reserve.

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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 2

Japan capital spending for the fourth quarter and a final reading on February manufacturing PMI.

China manufacturing PMI (date approximate) plus non-manufacturing PMI and HSBC manufacturing PMI.

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The close: TSX steady as miners, banks rise slightly

Malcolm Morrison

The Toronto stock market pulled back slightly amid soft U.S. economic data despite rising resource and financial stocks.

The S&P/TSX composite index closed down 6.82 points at 15,234.34. Seven of the 10 main sectors on the index were in the red. The Canadian dollar gained 0.15 of a U.S. cent to 79.98 cents.

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At midday: TSX advances amid rising oil, weaker U.S. growth

MALCOLM MORRISON

Rising resource and financial stocks pushed the Toronto stock market higher Friday despite soft U.S. economic data.

The S&P/TSX composite index up 87.58 points to 15,328.74. The Canadian dollar gained 0.33 of a U.S. cent to 80.16 cents.

New York indexes were mixed following a report that U.S. gross domestic product grew at an annual rate of 2.2 per cent in the October to December quarter, weaker than the 2.6 per cent first estimated last month in a reflection of weaker business stockpiling and a bigger trade deficit.

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At the open: TSX advances amid rising oil, gold prices

Malcolm Morrison

The Toronto stock market registered gains for a third session Friday morning as resource stocks led a widespread advance despite U.S. data showing weaker than expected growth at the end of last year.

The S&P/TSX composite index up 62.23 points to 15,303.39. The Canadian dollar gained 0.25 of a U.S. cent to 80.08 cents.

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Premarket: European shares at fresh 7-year high as ECB QE nears

Emelia Sithole-Matarise

European shares rose to fresh seven-year highs on Friday, extending a two-month rally fueled by the European Central Bank’s money printing program which starts in the coming weeks.

European shares bucked a softer trend in Asian and U.S. markets as a sharp overnight pullback in crude oil prices dampened risk appetite there. Brent crude was up 1.24 per cent by 0920 GMT on Friday.

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The close: TSX posts modest gain amid strong bank earnings

Malcolm Morrison

The Toronto stock market closed with a minor gain Thursday as the market found lift from a run of positive earnings news from the big banks and the retail sector.

The S&P/TSX composite index rose 12.59 points to 15,241.16. But advances were limited by falling energy stocks as a stronger U.S. dollar and rising crude inventories pushed April crude in New York down $2.82 to $48.17 (U.S.) a barrel.

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At midday: Earnings keep TSX in positive territory

Malcolm Morrison

The Toronto stock market was higher Thursday afternoon, lifted by a run of positive corporate earnings news from the big banks and the retail sector.

The S&P/TSX composite index rose 71.61 points, or 0.47 per cent, to 15,300.18. But gains were limited by falling energy stocks as April crude contracts in New York declined $1.41 to $49.58 (U.S.) a barrel.

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At the open: TSX boosted by run of positive corporate earnings

Malcolm Morrison TORONTO

A run of positive corporate earnings news from the big banks and the retail sector lifted the Toronto stock market Thursday.

The S&P/TSX composite index gained 66.82 points to 15,295.39. Energy stocks limited TSX gains as April crude in New York declined $1.40 to $49.59 (U.S.) a barrel.

The Canadian dollar declined 0.38 of a cent to 80.12 cents (U.S.).

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Premarket: Global stocks hit new record as cheap money reigns

Lionel Laurent

Global equities set a new record high and bond yields sank to fresh lows on Thursday as investors positioned for an extended era of cheap money ahead of the European Central Bank’s looming bond-buying scheme.

There were also signs the euro zone economy may be turning a corner as consumer morale picked up in the bloc’s largest economies and bank lending fell at a slower place.

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The close: TSX ends higher on RBC earnings, Dow sets new record

Malcolm Morrison

Strong corporate earnings and a major real estate deal for retailer Hudson’s Bay sent the Toronto stock market higher on Wednesday.

The S&P/TSX composite index rose 63.6 points to 15,228.57.

Shares in Hudson’s Bay Co. soared $4.38 or 19.75 per cent to $26.57 after the company announced it was joining with two major real estate trusts — Toronto-based RioCan and Indianapolis-based Simon Property Group — to create two real estate joint ventures.

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At midday: TSX rises on bank earnings, HBC real estate deal

MALCOLM MORRISON

Strong bank earnings and a major real estate deal for retailer Hudson’s Bay sent the Toronto stock market slightly higher.

The S&P/TSX composite index rose 53.20 points to 15,218.17.

Shares in Hudson’s Bay Co. soared $4.47 or 20.14 per cent to $26.66 after it announced it was joining with two major real estate trusts – Toronto-based RioCan and Indianapolis-based Simon Property Group – to create two real estate joint ventures.

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At the open: TSX opens higher as RBC, Hudson’s Bay gain

Malcolm Morrison

Strong bank earnings and a major move into the real estate sector by retailer Hudson’s sent the Toronto stock market slightly higher.

The S&P/TSX composite index rose 8.14 points to 15,173.11.

Shares in Hudson’s Bay Co. soared $3.88 or 17.5 per cent to $26.07 after it announced it was joining with two major real estate trusts — Toronto-based RioCan and Indianapolis-based Simon Property Group — to create two real estate joint ventures.

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Premarket: Global stocks near all-time highs after Fed signals

Marc Jones

World stocks were within touching distance of an all-time high on Wednesday as investors cheered signals from Federal Reserve Chair Janet Yellen that the U.S. central bank would not rush into raising interest rates.

Markets, still on high after the euro zone agreed to extend Greece’s aid deal, were given a further lift as slightly better-than-expected Chinese factory activity data helped ease concerns about the extent of the country’s economic slowdown.

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The close: TSX, financials fall on BMO earnings miss

Malcolm Morrison

The Toronto stock market closed in the red Tuesday as financials retreated amid an earnings miss from Bank of Montreal and U.S. Federal Reserve chairwoman Janet Yellen continued to lay the groundwork for a hike in interest rates.

The S&P/TSX composite index lost 35.29 points to 15,164.97, with the energy and gold sectors also contributing to the decline.

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At midday: TSX higher amid BMO earnings miss, Fed remarks

Malcolm Morrison

The Toronto stock market was higher Tuesday as earnings from Bank of Montreal missed forecasts while U.S. Federal Reserve chairwoman Janet Yellen continued to lay the groundwork for a hike in interest rates.

The S&P/TSX composite index gained 57.13 points to 15,257.39 as resource stocks advanced amid higher prices for oil and metals.

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At the open: Markets climb in wake of Fed comments

MALCOLM MORRISON

Canada’s main stock index advanced on Tuesday as investors responded positively to comments from Federal Reserve Chair Janet Yellen on the U.S. central bank’s monetary policy direction.

Yellen began testifying to U.S. lawmakers about plans for an eventual interest rate increase, saying the Fed was preparing to consider rate hikes “on a meeting by meeting basis.”

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Premarket: U.S. dollar inches up on Yellen hopes, Greek breather

Marc Jones

World shares held near all-time highs on Tuesday on relief that Greece had submitted reform plans and the dollar was firmer on expectations that Fed chair Janet Yellen would keep the bank nudging towards U.S. rate hikes.

European bourses traded around breakeven as Greece delivered a list of economic reforms to the euro zone that it hopes will secure a four-month extension of its financial lifeline.

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