TORONTO, June 26 (Reuters) – Canada’s main stock index was
down in relatively quiet trading on Friday with lower crude
prices weighing on energy stocks and last-ditch talk efforts
between Greece and its creditors to avoid a debt default
dominating investor focus.
Resource stocks were the biggest drags on the index, with
Transcanada Corp falling 1.79 percent to C$52.17, and
Potash Corp declining 1.0 percent to C$38.93. Potash
has approached German potash miner K+S with a takeover proposal
that sources say is worth close to 8 billion euros.
TORONTO (Reuters) – Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz), which was hit by a high-profile recall of overly sheer yoga pants in 2013, is recalling the drawstrings on more than 300,000 women’s tops due to the risk of injury, but said the financial impact was not material.
The U.S. Consumer Product Safety Commission and Health Canada posted the joint recall with Lululemon on Thursday and said consumers should either remove the draw cord or contact Lululemon for a non-elastic replacement.
TORONTO, June 25 (Reuters) – Canada’s main stock index
slipped on Thursday, after hitting a 2-1/2-week high this week,
but declines were modest, with many investors awaiting some sort
of news about and resolution to Greece’s debt situation.
“Clearly the biggest concerns out there include Greece. It’s
very psychological at this point. It’s testing Europe, testing
central bankers. People don’t know what the effects will be,”
said Irwin Michael, portfolio manager at ABC Funds.
TORONTO, June 24 (Reuters) – Canada’s main stock index rose
for the third straight session on Wednesday, hitting a 2-1/2
week high as energy stocks lead broad gains across the board,
bucking broader market trends.
Suncor Energy Inc was by far the top-weighted stock
on the positive side, rising 2.67 percent to C$35.71. Canadian
Natural Resources was close behind, advancing 1.5
percent to C$36.47.
TORONTO, June 23 (Reuters) – Canada’s main stock index
extended gains on Tuesday, tracking rises in stock markets
around the world spurred by optimism that a deal can be reached
to stave off a Greek debt default.
Technical drivers, including trading in the aftermath of
Friday’s “quadruple witching”, in which a number of stock
options contracts expired, also helped the TSX.
TORONTO, June 19 (Reuters) – Canada’s main stock index fell
on Friday with the market disappointed by Canadian retail sales
data and gripped by concern over the Greece debt crisis.
After two months of gains, retail sales slipped 0.1 percent
in April from March as consumers spent less at food and
electronic stores. Economists had expected a 0.7 percent rise.
TORONTO, June 18 (Reuters) – Canada’s main stock index
advanced marginally on Thursday, with gains limited by declines
in energy and financial shares, as the lift in market sentiment
provided by a more dovish U.S. Federal Reserve tone was undercut
by concern over the Greek debt crisis.
Investors who were worried about an impending Fed interest
rate hike took comfort in the view the Fed expressed in its
statement on Wednesday that slower economic growth would slow
the pace of rate hikes.
TORONTO, June 17 (Reuters) – Canada’s main stock index
gyrated between positive and negative territory late morning on
Wednesday, as many key sectors reversed or pared earlier gains
ahead of the Federal Reserve’s latest monetary policy statement.
Market participants were awaiting the Fed statement and
press conference starting at 2:00 p.m. ET (1800 GMT), for clues
on the central bank’s view of the U.S. economy and when it would
be ready to hike interest rates. Many are expecting a move
sometime this year.
TORONTO, June 16 (Reuters) – Canada’s main stock index fell
on Tuesday on persistent Greek debt worries and as investors
awaited the Federal Reserve’s looming interest rate decision.
The TSX, which has been grinding slowly lower since April,
saw most sectors mired in the red, with consumer discretionary
stocks the lone gainer.
TORONTO (Reuters) – Hudson’s Bay Co’s (HBC.TO: Quote, Profile, Research, Stock Buzz) $3.2 billion acquisition of Germany’s Kaufhof opens a path to expansion in Europe, but the route will be treacherous as the department store operator tries to replicate its North American success on a continent where others have failed.
The deal, announced earlier on Monday, comes at a time when HBC already has its hands full revitalizing and expanding Saks Fifth Avenue stores, which it acquired in 2013, as well as investing heavily in an ecommerce build-out.