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Feb 25, 2015

TSX steady as RBC, HBC gains offset impact of lower oil

TORONTO, Feb 25 (Reuters) – Canada’s main stock index was
little changed on Wednesday as gains in Royal Bank of Canada
and Hudson’s Bay Co offset a drop in the shares
of energy producers as oil prices fell.

RBC shares rose 3 percent to C$77.28 after the company
posted a stronger-than-expected quarterly profit, driven by
significant gains in its personal and commercial banking and
capital markets businesses. The strength in RBC helped lift the
broader financial sector.

Feb 24, 2015

TSX declines as energy, BMO shares drop

TORONTO, Feb 24 (Reuters) – Canada’s main stock index fell
on Tuesday as a decline in oil and gas shares and a drop in Bank
of Montreal offset optimism spurred by comments by U.S.
Federal Reserve Chair Janet Yellen on monetary policy direction.

BMO shares shed 2 percent to C$75.83 after the lender posted
a smaller-than-expected first-quarter profit, hurt by the impact
of declining long-term interest rates on its insurance unit and
lower investment and corporate banking revenues.

Feb 24, 2015

TSX climbs as Yellen comments offer support

TORONTO, Feb 24 (Reuters) – Canada’s main stock index
advanced on Tuesday as investors responded positively to
comments from Federal Reserve Chair Janet Yellen on the U.S.
central bank’s monetary policy direction.

Yellen began testifying to U.S. lawmakers about plans for an
eventual interest rate increase, saying the Fed was preparing to
consider rate hikes “on a meeting by meeting basis.”

Feb 23, 2015

TSX gains on Valeant news; financial stocks weigh

TORONTO, Feb 23 (Reuters) – Canada’s main stock index edged
higher on Monday as weakness in shares of banks and insurers was
offset by a surge in Valeant Pharmaceuticals after the drugmaker
announced a major acquisition.

Valeant Pharmaceuticals International Inc shares
shot up 15.1 percent to C$250.13, a day after the company agreed
to acquire gastrointestinal drugmaker Salix Pharmaceuticals Ltd
in an all-cash deal valued at about $10.1 billion.

Feb 23, 2015

TSX edges lower as energy, bank shares drag

TORONTO, Feb 23 (Reuters) – Canada’s main stock index
slipped on Monday as shares of energy companies were pulled
lower by weakness in oil prices, offsetting a surge in Valeant
Pharmaceuticals International Inc after the drugmaker announced
a major acquisition.

Another drag on the market was a drop in shares of Canadian
banks ahead of their earnings reporting season. Concerns about
the impact of lower oil prices and worries about a slowing
Canadian economy have contributed to the negative sentiment.

Feb 22, 2015

Investors sour on Canadian banks ahead of earnings

TORONTO (Reuters) – Investor sentiment in Canadian banks has begun to sour ahead of earnings this week as short interest positions in the stocks have jumped and analysts have begun to get increasingly skittish about their prospects in a weakening Canadian economy.

Canadian financials have been the worst performing among the 10 major sectors on the benchmark stock index year-to-date and the sector has fallen nearly 5 percent in the last three months. Some investors now fear that the banks, a major component of the financial sector, could be in for more pain.

Feb 20, 2015

TSX steady as bank shares offset Valeant gain

TORONTO, Feb 20 (Reuters) – Canada’s main stock index ended
little changed on Friday as a drop in bank shares ahead of their
earnings season helped offset a gain in shares of Valeant
Pharmaceuticals International Inc.

Bearish sentiment gained momentum as Canadian banks prepared
to reported quarterly results next week. Sluggish retail sales
data also weighed.

Feb 19, 2015

Goldcorp, SNC-Lavalin slumps push TSX lower

TORONTO, Feb 19 (Reuters) – Canada’s main stock index fell
on Thursday, hurt by sharp selloffs in Goldcorp Inc and
SNC-Lavalin Group Inc.

Goldcorp, the world’s biggest gold producer by market value,
posted a hefty loss as it took a $2.3 billion impairment charge
on a new mine in Argentina, the second multibillion-dollar
writedown from a top gold miner in as many days.

Feb 19, 2015

TSX drops as oil prices weaken; SNC tumbles

TORONTO, Feb 19 (Reuters) – Canada’s main stock index fell
on Thursday as a buildup in U.S. crude inventories weighed on
oil prices and shares of energy companies.

Further, shares of SNC-Lavalin Group tumbled 7.3
percent after the Canadian police laid corruption charges
against the company and some of its units, in relation to their
operations in Libya.

Feb 18, 2015

TSX declines as oil prices pull energy shares lower

TORONTO, Feb 18 (Reuters) – Canada’s main stock index
slipped on Wednesday as a recent rally in the price of oil began
showing signs of losing momentum, weighing on energy producers’
shares.

Investors also followed news that Greece will submit a
request to the euro zone to extend a “loan agreement” for up to
six months. However, Germany said no such deal was in the works
and Athens must stick to the terms of its existing international
bailout.