TORONTO (Reuters) – Interest rates are going to go up over the long term regardless of what central banks do at the moment, Canadian Finance Minister Jim Flaherty said on Thursday after the European Central Bank unexpectedly trimmed rates.
The bank cut rates to a record low earlier in the day and said it would prime banks with liquidity into 2015 to prevent the euro zone’s recovery from stalling.
TORONTO, Sept 18 (Reuters) – Canada’s main stock index
climbed to its highest point in more than two years on
Wednesday, led up by a jump in gold producers after the U.S.
Federal Reserve said it would keep its monetary stimulus
measures in place for now.
The Fed’s surprise announcement unleashed a flood of buying
in the Toronto market as investors took positions in
heavy-volume trading. The market in general had expected the Fed
to scale back its stimulus program.
TORONTO, Sept 10 (Reuters) – Canadian companies expect to
hire in the fourth quarter at roughly the same pace as in the
third, according to data released on Tuesday that also showed
the construction sector to be a pocket of strength.
The nationwide survey by ManpowerGroup Inc measures
the difference between employers that say they will add jobs and
those that are planning cuts.
TORONTO, Aug 16 (Reuters) – A Canadian fund is breaking away
from the tradition of investing heavily in resource-focused
plays and betting that a motley mix of retail and information
technology stocks will help it outperform the broader market.
So far the ploy is working.
Resource groups are among the worst performers on Canada’s
benchmark index this year, but for Brandon Snow’s Canada-focused
small and mid-cap fund the rewards have been sweet.
TORONTO, Aug 1 (Reuters) – The pace of Canadian
manufacturing growth eased to a three-month low in July as
output and new orders had only modest gains, the RBC Canadian
Manufacturing Purchasing Managers’ index showed on Thursday.
The index, a gauge of manufacturing business conditions,
slipped to 52 in July after adjusting for seasonal variation
from 52.4 in June.
TORONTO (Reuters) – Canadian companies are likely to post only small overall gains in second-quarter profit, as strength in the energy and insurance sectors is offset by miners struggling with softer prices for gold and other metals.
Many analysts have already trimmed forecasts as some of the country’s biggest companies prepare to report, with the choppy global economy and sluggish domestic growth cooling expectations.
TORONTO, July 2 (Reuters) – Canada’s manufacturing growth
slowed in June, pulling back from a sharp gain in May,
suggesting that sluggish global demand is still weighing on the
country’s export-oriented economy.
The RBC Canadian Manufacturing Purchasing Managers’ Index
retreated to 52.4 in June, after adjusting for seasonal
variation, from 53.2 in May. Despite the decline, the reading
was the second highest since September.
TORONTO, May 29 (Reuters) – Commercial borrowing by small
and medium-sized businesses in Canada climbed in the first
quarter, driven by robust domestic and global demand, a PayNet
survey showed on Wednesday.
PayNet, which tracks commercial financing for millions of
North American small and medium-sized businesses, said its
Canadian Business Lending Index rose to 194, the highest level
since it was created in 2005.
TORONTO, April 19 (Reuters) – Corporate Canada looks set to
post lackluster first-quarter results, but lowered expectations
and a sharp selloff earlier this week may set the stage for
near-term share price gains.
Earnings beats and any optimistic outlooks are now more
likely to provide a boost when some of the biggest companies
start reporting next week.
BURLINGTON, Ontario (Reuters) – Canada has no immediate plans to sell its stake in General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz), Finance Minister Jim Flaherty said on Wednesday following news the U.S. Treasury will sell its entire stake in GM over 15 months, but he said the stake will be sold eventually.
“We’ve always been clear about two things. One, that we will not have a fire sale – we will not sell the shares without getting the best value we can for Canadian taxpayers – and secondly, that we are a Conservative government. We are not interested in the long term in being shareholders in private corporations,” Flaherty told reporters in Burlington, Ontario.