TORONTO, Oct 25 (Reuters) – Canada’s main stock index rose 1
percent on Thursday as strong results from miner Goldcorp Inc
and encouraging global economic data helped lift stocks
across all sectors.
Goldcorp, Canada’s second-biggest gold miner, posted a 48
percent rise in quarterly profit, sending its shares up 4.9
percent to C$42.78. It was the most heavily weighted riser on
WHITBY, Ontario, Oct 4 (Reuters) – Pressures in the Toronto
and Vancouver housing markets are moderating, Canadian Finance
Minister Jim Flaherty said on Thursday, with neither a bubble
nor a hard landing in sight for the country’s property market.
“I don’t think there is a bubble, or a danger of a bubble in
Toronto and Vancouver. I’m actually comfortable with the fact
that we’ve seen some moderation in pressures in that market,
both of those markets and across the country,” Flaherty told
TORONTO, Sept 7 (Reuters) – McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz) will
spend $1 billion renovating its stores in Canada, the
restaurant chain said on Wednesday, as competition with Tim
Hortons Inc (THI.TO: Quote, Profile, Research, Stock Buzz) heats up.
The Canadian unit of the Oak Brook, Illinois-based company,
which has been operating for 44 years, plans to refurbish most
of its 1,400 restaurants by the end of 2012, with more than
half finished by the end of this year.
TORONTO, Aug 30 (Reuters) – Alimentation Couche-Tard Inc
(ATDb.TO: Quote, Profile, Research, Stock Buzz), Canada’s top convenience store operator, posted a 10
percent rise in quarterly profit on Tuesday but missed market
estimates due to higher motor fuel prices and intense
competition, sending its shares lower.
Merchandise sales at stores open for at least a year, a key
measure for retailers, were up 1.5 percent in the United States
and down 0.2 percent in Canada.
TORONTO, Aug 30 (Reuters) – Acquisition-hungry Valeant
Pharmaceuticals International (VRX.TO: Quote, Profile, Research, Stock Buzz) stepped into the battle
for Canadian cold and flu medicine maker Afexa Life Sciences
(FXA.TO: Quote, Profile, Research, Stock Buzz) on Tuesday with a friendly C$76 million ($77.6
million) takeover offer that tops a rival bid by 34 percent.
The deal would give Valeant control of Canada’s No. 1
selling cold and flu medicine, Cold-FX, and let the
Mississauga, Ontario-based company pursue its strategy of
making Canada a key growth area.
TORONTO, Aug 29 (Reuters) – Cautious consumer spending,
fragile stock markets and increasingly fierce competition will
weigh on the fortunes of Canadian retailers this back-to-school
Early signs show consumers are postponing sales, cutting
budgets, sticking to buying essentials and searching for the
TORONTO, Aug 11 (Reuters) – Canadian Tire Corp (CTC.TO: Quote, Profile, Research, Stock Buzz)
(CTCa.TO: Quote, Profile, Research, Stock Buzz), one of the country’s biggest retailers, said on
Thursday quarterly profit fell 14 percent as it spent more on
promotions and invested in infrastructure.
Profit at the company, whose flagship Canadian Tire chain
sells housewares, sporting goods and automotive products,
dropped even as higher gasoline prices helped boost retail
sales by 5.1 percent.
TORONTO, Aug 11 (Reuters) – Tim Hortons Inc’s (THI.TO: Quote, Profile, Research, Stock Buzz)
(THI.N: Quote, Profile, Research, Stock Buzz) profit rose 1.5 percent as Canada’s largest restaurant
chain benefited from strong U.S. sales and passed along higher
coffee costs to its customers, sending its shares higher.
The outperformance in the United States, a smaller market
for the company than Canada, was a sign that the retailer was
finally making headway in the cutthroat market.
TORONTO, Aug 10 (Reuters) – Rona Inc’s (RON.TO: Quote, Profile, Research, Stock Buzz) quarterly
profit dropped a steeper-than-expected 40 percent as Canadian
consumers cut spending on its home improvement products,
sending its shares down 5 percent.
The reluctance of homeowners to invest in big-ticket
renovation projects, the lifeblood of Rona’s business, has
plagued Canada’s No. 1 do-it-yourself chain.
TORONTO, Aug 5 (Reuters) – Telus Corp’s (T.TO: Quote, Profile, Research, Stock Buzz) quarterly
net profit rose 7 percent on gains at its wireless and Internet
television segments, outshining its larger rivals and prompting
the company to raise its revenue forecast for the year.
The Canadian telecoms company, whose shares dropped on
Friday along with the broader market, said the rapid adoption
of smartphones such as Apple Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) iPhone boosted data
revenue and fueled subscriber growth.