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Market Updates

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

Entry archive:

The close: TSX jumps 2.4% led by financial, energy shares

Canadian stocks rose for the first time in six days on Friday, as energy and financial companies rallied amid surging oil prices and easing concerns about the global economy.

The Standard & Poor’s/TSX Composite Index gained 293.87 points, or 2.43 per cent, to 12,381.24  in Toronto, as all of the 10 main industry groups advanced. The index had lost 5.4 per cent in five days before the rally, pushing it to its lowest level in three weeks. Even after decline of 5 per cent in 2016, the S&P/TSX is the best-performing developed market in the world, after being among the worst in the past year.

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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 February 15

China aggregate yuan financing, new yuan loans, money supply and trade surplus
Japan real GDP, industrial production and tertiary index|
Euro area trade balance

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At midday: Banks, energy stocks lead TSX rebound

Canada’s main stock index rebounded Friday after five days of losses, led by banks and energy stocks as crude oil prices rallied and after U.S. retail sales data offered encouragement about the economic outlook.

Relative calm returned to financial markets after a week of turmoil in which investors worried about the impact of negative interest rates on banking profits.

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At the open: TSX rises as oil prices rally

Canada’s main stock index rose on Friday as crude oil prices rallied and after U.S. retail sales data provided encouragement.

The Toronto Stock Exchange’s S&P/TSX composite index was up 149.89 points, or 1.24 per cent, at 12,237.26, shortly after the open.

It included a 3.6 percent gain for energy stocks, while financial sector stocks rose 1.5 per cent.

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Premarket: Stocks nudge higher as global sell-off takes a breather, oil rises

Marc Jones

Relative calm returned to world markets on Friday after a hurricane-force week that gave dollar/yen its biggest smashing since 2008, wiped billions off share prices and saw a stampede into top-rated government bonds and gold.

Japan’s Nikkei fell 5.4 per cent, having been shut during Thursday’s global rout, so there was relief as the dollar and the yen steadied and London and Europe’s other main stock markets rose almost 2 per cent.

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TSX continues fall, joins global equity sell-off

Globe Unlimited provides investors with exclusive news, analysis and actionable trading ideas. Click here for an overview of the latest stories and columns available to subscribers.

Canadian stocks slumped a fifth day on Thursday joining a sell-off in markets around the world amid waning confidence central banks can support the global economy, as commodities prices fall and growth stalls.

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At midday: TSX falls on global growth concerns

Canada’s main stock index fell over 1 per cent on Thursday, hitting a three-week low as a string of disappointing corporate earnings reports added to broad investor unease about the global economy.

The most influential weight on the index was Manulife Financial Corp, which slumped 10.34 per cent to $15.52 after the country’s largest insurer missed market estimates for the fourth quarter and said it would be difficult to achieve its core earnings target for 2016.

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At the open: TSX, Dow tumble at open as investors flee risk

North American markets sank at the open on Thursday as doubts regarding the health of the global economy saw investors fleeing to safe haven assets.

The Toronto Stock Exchange’s S&P/TSX composite index fell 139.5, or 1.15 per cent, to 12,046.19 at 9:30 a.m. ET.

The Dow Jones industrial average was down 139.16 points, or 0.87 per cent, at 15,775.58

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Premarket: Global markets crunched as investors seek safety

Marc Jones

Turbulence tore through global markets on Thursday as investors sought the safety of Japanese yen, gold and top-rated bonds while dumping U.S. dollars on bets the Federal Reserve could be done with raising interest rates.

Even the absence of Tokyo for a holiday could not stop the dollar from hitting a 15-month low on the yen, and gold finally broke major chart resistance to reach its highest since May as a wave of risk aversion swept through trading floors.

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The close: TSX falls further as oil continues drop

Canadian stocks fell for the third consecutive day on Wednesday as oil dropped to a three-week low in New York amid speculation that an unexpected decline in crude inventories is only temporary, with more gains to follow as production remains strong.

The Standard & Poor’s/TSX Composite Index fell 0.8 per cent, or 96.93 points, to 12,185.72 in Toronto as the index gave back morning gains after piling up big losses over the previous two sessions. Only three of 10 main industry groups advanced.

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At midday: TSX rises as financials recover

Canada’s main stock index rose on Wednesday as financial stocks clawed back some losses from the start of the week, offsetting energy and mining stocks that slid as crude oil prices fell.

The most influential movers on the index included Royal Bank of Canada, which rose 0.6 per cent to $68.04, and Toronto-Dominion Bank, which advanced 0.5 per cent to $50.53. The overall financial services group rose 0.9 per cent.

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At the open: TSX rises as financial stocks rebound

Canada’s main stock index rose on Wednesday, clawing back some losses at the start of the week, including gains for beaten up financial stocks.

The Toronto Stock Exchange’s S&P/TSX composite index was up 65.12 points, or 0.53 per cent, at 12,347.77, shortly after the open. Seven of the index’s 10 main groups were higher.

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Premarket: Banks lead European shares higher, oil rises before Yellen

Dhara Ranasinghe and Nigel Stephenson

European stocks rose on Wednesday, rallying after losses in Asia, as concerns about the health of banks that have hammered shares globally in recent days eased and oil prices recovered from Tuesday’s steep falls.

The more upbeat tone looked set to spill over into U.S. trade, with index futures suggesting a positive open on Wall Street, and took the shine off safer assets such as low-risk government debt and gold.

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Asia dips amid banking sector concerns, yen stands tall

Shinichi Saoshiro

Asian stocks dipped early on Wednesday amid smouldering banking sector concerns, particularly banks in Europe, while the safe-haven yen stood atop large gains made overnight.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.2 per cent. The decline was limited after Wall Street shares cut most of their losses overnight and gave battered risk assets some relief.

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TSX continues fall amid global growth concerns

Financial, utility and energy companies dragged Canadian stocks lower for a third day, as equities worldwide sank amid deepening concerns about the health of the global economy.

The Standard & Poor’s/TSX Composite Index slumped 2 per cent to 12,282.65 in Toronto. The benchmark stocks gauge had rebounded in the second half of January to pare its 2016 decline to about 5.6 per cent, making it the second-best performing developed market tracked by Bloomberg this year, after New Zealand.

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At midday: TSX falls as banks, energy stocks weigh

Canada’s main stock index on Tuesday fell to its lowest since late January, again weighed down by bank and energy company shares as investors globally retreat from equity markets.

The most influential movers on the index were its heavyweight banks, with the financials group down 2.5 per cent overall, while the energy sector retreated 3.3 per cent, extending Monday’s losses.

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At the open: TSX falls further on global growth concerns

Canada’s main stock index opened lower on Tuesday as investors refrained from betting on riskier assets amid fears of a sustained global economic slowdown.

The Toronto Stock Exchange’s S&P/TSX composite index was down 162.8 points, or 1.3 per cent, to 12,372.58 at 9:31 a.m. ET

The index fell on Monday as banking, energy and consumer stocks lost ground, offsetting gains among gold miners as global growth concerns mounted.

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Premarket: Global stocks hit the rocks after Asian markets slump

Alistair Smout

European shares gave up early gains as bank stocks dropped and losses in Asian markets sent investors scurrying for safe havens.

The pan-European FTSEurofirst 300 dipped 0.1 per cent and then levelled off, after touching its lowest levels since October 2014, and still near its lowest close since 2013.

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Asian markets continue selloff as bank fears flare

Wayne Cole

Asian share markets were scorched on Tuesday as stability concerns put a torch to European bank stocks and sent investors stampeding to only the safest of safe haven assets.

As fear overwhelmed greed, yields on longer-term Japanese bonds hit zero for the first time ever, the yen surged to a 15-month peak and gold reached its most precious since June.

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The close: TSX drops amid global equities selloff

Globe Unlimited provides investors with exclusive news, analysis and actionable trading ideas. Click here for an overview of the latest stories and columns available to subscribers.

Canadian stocks joined a selloff in global equities, as persistent concerns about global economic growth prompted declines in shares with some of the highest valuations.

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At midday: TSX falls as banks, energy stocks weigh

Globe Unlimited provides investors with exclusive news, analysis and actionable trading ideas. Click here for an overview of the latest stories and columns available to subscribers.

Canada’s main stock index fell on Monday as heavyweight banking and energy stocks lost ground, offsetting gains among gold miners.

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At the open: TSX, Dow drop on global growth fears, sliding oil

Canada’s main stock index started lower on Monday as crude oil prices slipped after a meeting between Saudi Arabia and Venezuela provided little indication of an agreement between oil producers to curb supply.

The Toronto Stock Exchange’s S&P/TSX composite index was down 113.96 points, or 0.89 per cent, to 12,650,41 at 9:30 a.m. ET.

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Premarket: European stocks plunge as Lunar New Year offers no cheer

Jemima Kelly

European shares plunged to 16-month lows on Monday, extending a aggressive sell-off, while bond yields and oil also fell as investors shed risky assets on persistent concern over the pace of global growth.

Data over the weekend showing China’s foreign reserves fell for a third straight month in January, as dollars were dumped to defend the yuan and curb capital outflows, did nothing to calm investors. Though the fall was less than some had feared, it was the second biggest on record.

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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.
 

China markets closed all week for a holiday


Monday February 8

Japan releases current account surplus. India releases GDP. China releases foreign reserves.

(830 a.m. ET) Canada building permits for December. They are forecast to rise 3 per cent.

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The close: Nasdaq pummelled in tech selloff

The Nasdaq Composite dropped 3.3 percent on Friday, leading a selloff on Wall Street that followed weak forecasts from companies including LinkedIn and worries about lofty valuations.

The Dow Jones industrial average was down 211.75 points, or 1.29 percent, to 16,204.83, the S&P 500 had lost 35.43 points, or 1.85 percent, to 1,880.02 and the Nasdaq Composite had dropped 146.42 points, or 3.25 percent, to 4,363.14.

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At midday: Global stocks fall after U.S. jobs report muddles Fed outlook

Global stocks and bond prices fell after a key U.S. jobs report painted a mixed picture of the U.S. labor market and left investors with a muddled view on rate hike prospects.

The U.S. dollar rose, rebounding after two days of losses that forced the unwinding of large bets in favor of the greenback against other currencies worldwide.

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At the open: TSX falls as resource stocks weigh after jobs report

Canada’s main stock index fell on Friday in a broad retreat after a weak jobs report and as falling oil prices weighed on energy stocks.

The most influential movers on the index including Barrick Gold Corp, which fell 2 percent to C$15.11, and Canadian Natural Resources, which declined 2.6 percent to C$29.52.

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Premarket: Global stocks and greenback steadier before U.S. jobs report

Patrick Graham

The wait for U.S. monthly jobs numbers steadied stock markets on Friday and allowed the dollar to recover after what has so far been its weakest week in more than six years.Oil prices were up by 0.5 to 1 per cent, and the mixed performance in Asia spread to European stock markets: London and Paris both gained while Frankfurt was marginally lower. Wall Street looked set to open flat.

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The close: TSX sharply higher, boosted by banks, miners, railways

Canada’s main stock index gained almost 1.5 per cent on Thursday, led by railway stocks, financials and miners while the energy sector also notched gains despite a slip in crude oil prices.

The Toronto Stock Exchange’s S&P/TSX composite index closed up 181.48 points, or 1.44 percent, at 12,774.50. Eight of its 10 main groups gained. The loonie rose above 73 cents US for the first time this year. The Canadian dollar was worth 73.04 cents US — up 0.43 of a U.S. cent.

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At midday: TSX rises with commodity prices

Canada’s main stock index rose on Thursday as higher commodity prices helped lift energy and mining stocks, while railway stocks also saw strong gains.

A weaker U.S. dollar helped drive commodity markets higher for a second day, which supported the resource-linked market.

U.S. crude prices surged and gold rose to a three-month high after expectations eased of a further rise in U.S. interest rates this year.

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