Correspondent, Toronto, Canada
Alastair's Feed
Jun 1, 2015

TSX higher as motley gainers cancel energy drag

TORONTO, June 1 (Reuters) – Canada’s main stock index ended
higher on Monday, with gains from an auto parts maker, a
pharmaceutical company and a dollar store operator helping
offset losses from the index’s heavyweight energy sector.

Valeant Pharmaceutical International Inc, an
acquisitive drugmaker that has risen quickly to become a major
force on the index, was the most influential gainer, up 1.2
percent at C$300.08.

Jun 1, 2015

Uber targeted by Canada’s largest city amid cabbie protest

TORONTO, June 1 (Reuters) – Taxi drivers packed a courtroom
in Canada’s largest city on Monday as Toronto stated its case
that the Uber ride-sharing service should be regulated, as are
the traditional cabs with which Uber competes.

Toronto is seeking an injunction to stop Uber from operating
unless the San Francisco-based company agrees to comply with
Toronto’s demand that all Uber drivers be licensed and that the
company itself obtain brokerage licenses to operate its service.

May 29, 2015

Oil surge helps C$ counter Canada GDP contraction

TORONTO, May 29 (Reuters) – A surge in the price of crude
oil helped keep the Canadian dollar steady on Friday, shrugging
off data showing the Canadian economy contracted in the first

While bond markets rose after the gross domestic product
data on bets that there is more of a chance that the Bank of
Canada will cut interest rates this year, the currency’s
early-session losses were canceled out as crude oil prices
jumped almost 5 percent on Friday.

May 29, 2015

Pessimism reigns as economic gloom weighs on TSX

TORONTO, May 29 (Reuters) – Canada’s main stock index dipped
on Friday, with heavyweight banks tipping the scales to the
downside amid broad pessimism about domestic economic growth and
the uncertain outlook for industries tied to energy.

All six of the country’s biggest banks beat earnings
estimates this week, but only Bank of Nova Scotia
shares made gains by mid-morning, up 0.9 percent at C$65.15, as
the No. 3 lender outlined a share buyback plan.

May 29, 2015

C$ weaker after Canada GDP shrinks

TORONTO, May 29 (Reuters) – The Canadian dollar weakened on
Friday after data showed the country’s economy contracted in the
first quarter as business investment and exports fell.

With the data likely to bolster the view that Canada’s
central bank will hold rates steady until well after its U.S.
counterpart has begun a raising cycle, momentum is not on the
side of the loonie, as Canada’s currency is colloquially known.

May 28, 2015

TSX lower as uncertainty reigns, industrials weigh

TORONTO, May 28 (Reuters) – Canada’s main stock index pulled
back on Thursday as investor caution about economic growth,
geopolitical uncertainty and interest rate trajectories
overpowered stronger-than-expected earnings from three of the
country’s biggest lenders.

The most influential falls came from Canadian Pacific
Railway Ltd, which fell 4.1 percent to C$208.80, and
Toronto-Dominion Bank, which declined 1.1 percent to
C$55.37 despite posting a surprisingly strong quarterly profit.

May 27, 2015

TSX ends up 0.4 pct despite drag from energy shares

TORONTO, May 27 (Reuters) – Canada’s main stock index
bounced back on Wednesday, with gains for banks and industrial
stocks leading the charge and overshadowing losses among energy
names, which wilted along with underlying commodity prices.

Air Canada was a major winner, jumping 8 percent to
C$13.59, after it said its pension funding gap had evaporated
and more cash could be returned to investors or spent on new

May 26, 2015

TSX stumbles as greenback rally hurts commodity players

TORONTO, May 26 (Reuters) – Canada’s main stock index
stumbled on Tuesday as gold miners, banks and energy companies
led a broad sell-off that had value investors cheering as data
reminded the market that U.S. interest rates will eventually

With a long period of low borrowing costs, money has sloshed
into equities, one portfolio manager said. Some of the froth
could be removed with each economic report that prompts the U.S.
Federal Reserve closer to a rate hike.

May 25, 2015

Oil and gas shares tug TSX lower in lethargic trade

TORONTO, May 25 (Reuters) – Canada’s main stock index edged
lower on Monday as investors took money out of recently rising
energy stocks in trade made sluggish by the U.S. Memorial Day
holiday, but banks firmed ahead of closely watched quarterly
earnings reports.

The energy sector, which accounts for more than 20 percent
of the index’s value, was down more than half a percent even as
crude oil prices rose.

May 22, 2015

TSX eases after recent rally as energy, financials slip

TORONTO, May 22 (Reuters) – Canada’s main stock index barely
retreated on Friday, with cooling energy and financial stocks
weighing, after the index posted gains in four of the previous
five sessions.

Investors took a cautious approach ahead of a U.S. trading
holiday on Monday, though U.S. dollar strength hurt some energy
stocks as crude prices slipped. Energy stocks were five of the
10 biggest negative weights on the Toronto Stock Exchange’s
S&P/TSX composite index.

    • About Alastair

      "Canada tech, media and telecoms reporter based in Toronto, with emphasis on Research In Motion and including coverage of Rogers, Bell Canada, Telus, the new mobile entrants and the tech companies filling in the gaps. Previously spent two years in Cairo bureau chasing Orascom Telecom's Naguib Sawiris. Prior to that, spent a year learning the ropes in London."
      Joined Reuters:
      English, Arabic
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