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.
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.
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.
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.
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
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.
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
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.
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
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.
VANCOUVER/TORONTO (Reuters) – The successful initial public offering of Shopify could prompt Hootsuite, another promising Canadian tech startup, to tap public markets sooner rather than later, its chief executive said on Thursday.
And a raft of other promising technology compatriots could quickly join them, executives and backers say, in a revival of public capital-raising that would boost a commodity-heavy equity market pummeled by plunging oil and metal prices.
TORONTO, May 20 (Reuters) – Canada’s main stock index fell
on Wednesday, ending a three-session winning streak, as
heavyweight banking issues led a broad decline, interrupted by
oil and gas company gains on rebounding crude prices.
The country’s biggest banks will report quarterly earnings
next week, giving investors an updated view of the broader