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Dec 4, 2014

TSX drops most in 18 months as TD, energy shares tumble

TORONTO, Dec 4 (Reuters) – Canada’s main stock index
recorded its biggest single-day drop in 18 months on Thursday as
weakness in the price of oil fueled a sell-off in shares of
energy producers and Toronto-Dominion Bank fell after
the lender reported quarterly results.

TD reported a weaker-than-expected fourth-quarter profit and
said it expects a more challenging operating environment in
2015. The stock shed 5.1 percent to C$54.03.

Dec 4, 2014

Vale base metals IPO could prove to be a Bay Street bonanza

TORONTO, Dec 4 (Reuters) – Brazilian mining giant Vale’s
plan to sell a stake in its base metals unit through
a Toronto Stock Exchange listing could lead to the biggest IPO
in Canadian history and a windfall in fees on Bay Street.

Vale confirmed a Reuters report about the potential sale
this week, putting the size of the stake at 30 to 40 percent. It
said the unit may be worth $30 billion to $35 billion, including
the assumption of debt. The IPO could take place in the latter
half of 2015, if market conditions allowed.

Dec 4, 2014

TSX drops 1.3 percent as TD, energy shares weigh

TORONTO, Dec 4 (Reuters) – Canada’s main stock index dropped
on Thursday as Toronto-Dominion Bank fell after the
lender’s quarterly results disappointed the market, offsetting a
surge in Enbridge Inc after the pipeline company
announced restructuring plans and a dividend increase.

Further, shares of energy producers tumbled again, this time
after news of Saudi Arabia making deep price cuts for U.S. and
Asian buyers sent the price of oil lower.

Dec 3, 2014

TSX jumps on U.S. data, commodity prices

TORONTO, Dec 3 (Reuters) – Canada’s main stock index rose
nearly 1 percent on Wednesday as upbeat U.S. economic data and
strong commodity prices helped drive shares higher in most major
sectors.

Investors also digested news that Royal Bank of Canada
reported stronger quarterly profit, with gains at its
core personal and commercial banking and wealth management
businesses offsetting weakness at its capital markets arm. The
stock was up slightly.

Dec 3, 2014

TSX climbs as U.S. data, energy shares support

TORONTO, Dec 3 (Reuters) – Canada’s main stock index
advanced on Wednesday as positive U.S. economic data
strengthened hopes for a solid recovery and higher commodity
prices helped drive up shares of natural resource producers.

Investors also digested news that Royal Bank of Canada
reported stronger quarterly profit, with gains at its
core personal and commercial banking and wealth management
businesses offsetting weakness at its capital markets arm. The
stock was up slightly.

Dec 2, 2014

TSX climbs with oil shares, but BMO slips on results

TORONTO, Dec 2 (Reuters) – Canada’s main stock index rose on
Tuesday as a decline in Bank of Montreal shares after
the lender’s quarterly results disappointed the market was
offset by strength in the oil and gas sector.

BMO shares shed 1.8 percent after the bank reported a
weaker-than-expected fourth-quarter profit. The slide helped
undercut other stocks in the benchmark index’s financial sector.

Dec 1, 2014

TSX drops on global growth worries, energy shares

TORONTO, Dec 1 (Reuters) – Canada’s main stock index
declined on Monday as sluggish data raised concerns about the
global economic recovery and shares of energy producers sold off
despite a rebound in oil prices.

Manufacturing growth in Asia and Europe slowed in November
due to weak demand, and U.S. manufacturing sector growth hit its
lowest in 10 months, separate reports showed.

Dec 1, 2014

TSX hit by weak global economic cues, energy shares

TORONTO, Dec 1 (Reuters) – Canada’s main stock index dropped
about 1 percent on Monday as sluggish economic data raised
concerns about global growth and volatile oil prices contributed
to weakness in the energy sector.

Manufacturing growth in Asia and Europe slowed in November
due to weak demand, and the U.S. manufacturing sector growth hit
its lowest in 10 months, separate reports showed.

Nov 28, 2014

Diving oil and gold prices drive TSX to a sharp fall

TORONTO, Nov 28 (Reuters) – Canada’s main stock index
dropped on Friday as a 10.5 percent fall in the price of U.S.
crude dragged down oil and gas shares, while a weaker bullion
price sent shares of gold miners tumbling.

Oil prices, and shares of oil producers by extension, have
plunged since the Organization of the Petroleum Exporting
Countries (OPEC) decided on Thursday to keep production steady.

Nov 28, 2014

TSX drops as oil shares keep falling

TORONTO, Nov 28 (Reuters) – Canada’s main stock index
dropped on Friday as oil and gas shares kept diving after OPEC’s
decision on Thursday not to cut output pushed oil prices to
four-year lows, while gold-mining shares also fell on a lower
bullion price.

The decline in energy shares comes after months of
choppiness in the oil price, which has dropped dramatically
since June on concerns about oversupply.