Correspondent, Toronto, Canada
Alastair's Feed
Jun 3, 2015

Stingray CEO aims to grow music reach via acquisitions

TORONTO, June 3 (Reuters) – Newly listed Stingray Digital
Group Inc plans to spend some C$50 million ($40
million) this year to acquire broader distribution for its
streaming music channels, its chief executive said on Wednesday.

Shares in Montreal-based Stingray jumped 19 percent on their
debut, a shot in the arm for Canada’s bubbling market for
initial public offerings, as the music and media company eyed
acquisitions to expand across the Americas, eastern Europe and
Asia.

Jun 2, 2015

TSX moves higher on resource stock gains

TORONTO, June 2 (Reuters) – Canada’s main stock index rose
on Tuesday as higher commodity prices helped many energy
producers and mining companies, and financial issues gained.

The Toronto Stock Exchange’s S&P/TSX composite index
gained 30.61 points, or 0.20 percent, to 15,104.74. It
ended with 155 issues advancing compared with 89 decliners.

Jun 2, 2015

Resource stocks help TSX move higher

TORONTO, June 2 (Reuters) – Canada’s main stock index rose
on Tuesday as higher commodity prices helped resource-related
stocks, and financial issues gained.

The most influential gainers on the index included First
Quantum Minerals Ltd, which gained 6.4 percent to
C$17.33, and Teck Resources Ltd, which advanced 6.0
percent to C$15.30. The overall materials group climbed 1.4
percent.

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
quarter.

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
planes.

    • 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:
      2007
      Languages:
      English, Arabic
    • More from Alastair

    • Contact Alastair

    • Follow Alastair