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Feb 10, 2012

TSX tumbles as Greek woes slam commodities

TORONTO, Feb 10 (Reuters) – Canada’s main stock index
sank more than 1 percent to a two-week low on Friday as doubts
grew that Greece’s debt bailout deal would win final European
approval, sparking a drop in commodity prices and global equity
markets.

Suncor Energy was down 1.3 percent at C$34.15 and
Canadian Natural Resources skidded 2.1 percent to
C$37.50 as crude prices plunged on the renewed euro zone woes
and as the International Energy Agency cut its oil demand
forecast for a sixth consecutive month due to a weak global
economy.

Feb 9, 2012

C$ hits 2012 high on Greek deal

TORONTO, Feb 9 (Reuters) – Canada’s dollar
strengthened to a 2012 high against its U.S. counterpart on
Thursday on firmer oil prices and as investors sought riskier
assets on news a Greek bailout package had been reached.

European stocks and the euro bounced higher after European
Central Bank President Mario Draghi confirmed that Greece had
clinched a deal for emergency aid needed to avoid a disorderly
default.

Feb 8, 2012

TMX profit slides as Canada equity markets slow

Feb 8 (Reuters) – TMX Group, the Canadian
exchange operator awaiting regulatory approval for its proposed
$3.8 billion takeover, on Wednesday said quarterly results
tumbled as economic uncertainty hit its listings and equity
trading businesses.

TMX, which owns the Toronto Stock Exchange and the TSX
Venture Exchange, said the 21 percent decline in its
fourth-quarter profit also reflected higher costs linked to
Maple Group Acquisition Corp’s proposed deal.

Feb 8, 2012

C$ flat as market awaits Greek deal

TORONTO, Feb 8 (Reuters) – Canada’s dollar was little
changed against its U.S. counterpart on Wednesday with the
currency stuck in a tight trading pattern as investors awaited
any resolution on a second Greek bailout.

Greek leaders are due to meet on Wednesday to agree a deal
on painful austerity steps needed to secure a 130 billion euro
($172 billion) rescue from the IMF and European Union and avoid
a messy debt default.

Feb 7, 2012

Global watchdog official says banking reforms must proceed

TORONTO (Reuters) – The underperforming global economy should not be allowed to delay financial system reforms, a senior official at the Financial Stability Board (FSB), a global watchdog set up by the Group of 20 nations, said on Tuesday, adding that the FSB will propose new rules on so-called shadow banking by year-end.

Bank of Canada Senior Deputy Governor Tiff Macklem, who chairs a key FSB committee, pushed back against bankers who argue now is not the time to impose tougher new capital standards on lenders due to the recession in Europe and a weak U.S. economy.

Feb 7, 2012

FSB official outlines shadow banking concerns

TORONTO, Feb 7 (Reuters) – The underperforming global
economy should not be allowed to delay financial system reforms,
a senior Canadian official said on Tuesday, adding that global
regulators will propose new rules for so-called shadow banking
by the end of this year.

Bank of Canada Senior Deputy Governor Tiff Macklem, who also
chairs a committee at the Financial Stability Board (FSB),
pushed back against bankers who argue now is not the time to
impose tougher new capital standards on lenders due to the
recession in Europe and a weak U.S. economy.

Feb 6, 2012

Profit-taking, Greece push TSX lower

TORONTO, Feb 6 (Reuters) – Canada’s main stock index
finished lower on Monday as investors took some profits after a
four-session gain, while lower commodity prices on persistent
fears that Greece will not be able to avoid a messy debt default
also weighed.

The index’s key materials and energy sectors led the
decline, falling 0.5 percent and 0.1 percent respectively as oil
and gold prices dropped on the continued lack of progress in
Greece’s debt talks.

Feb 6, 2012

TSX stumbles as Greece concerns weigh

TORONTO, Feb 6 (Reuters) – Canada’s resource-heavy
main stock index was lower on Monday morning as oil prices
weakened on growing fears that Greece will not be able to avoid
a messy debt default.

The index’s key energy sector led the market lower, falling
0.2 percent as oil prices dropped as traders and investors
worried that a failure to agree on a new debt deal for Greece
would suppress demand in the euro zone.

Feb 3, 2012

C$ sails to 3-month high on U.S. jobs data

TORONTO, Feb 3 (Reuters) – The Canadian dollar bounced
to its strongest level in just over three months on Friday as a
surge in U.S. job creation boosted investor confidence about the
outlook for the world’s biggest economy.

The currency surged to C$0.9928 to the U.S. dollar,
or US$1.0073, the strongest level since Oct. 31, after data
showed the American economy added 243,000 jobs, the most since
last April. The figure easily beat economists’ expectations for
a gain of only 150,000.

Feb 2, 2012

Canada regulators introduce stock circuit breakers

TORONTO, Feb 2 (Reuters) – Canadian regulators
introduced single-stock circuit breakers on Thursday that will
halt trading in the event of rapid, intense and unexplained
share moves like the one that occurred during the “flash crash”
on May 6, 2010.

The Investment Industry Regulatory Organization of Canada

(IIROC) said the circuit breakers would be imposed for some 250
stocks listed on the Toronto Stock Exchange’s S&P/TSX composite
index .GSPTSE. Circuit breakers are essentially designed to
slow or stop trading when markets become extremely volatile.

    • About Jennifer

      "Jennifer Kwan is a Toronto-based reporter on the market news and treasury team, and covers a broad mix of stories related to trading, exchanges and regulation. Previously worked as an editor for the company's online newsroom. Before joining Reuters, she worked at the Canadian Press, as well as the Toronto Star and Yukon News newspapers."
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