TORONTO/OTTAWA, July 16 (Reuters) – Canadians’ overseas
spending power has taken a hit, but the plunge in the Canadian
dollar after the central bank cut interest rates on Wednesday to
try to revive a sputtering economy is being cheered by a wide
array of businesses.
The tourism sector, along with export-oriented manufacturers
and resource companies were among those applauding the Canadian
dollar’s six-year low on Thursday after the Bank of Canada’s
25-basis-point rate cut to 0.5 percent, which was triggered
largely by last year’s collapse in the price of oil, a major
TORONTO, July 14 (Reuters) – Canada’s main stock index was
little changed on Tuesday as oil and gas stocks unexpectedly
gained despite a long-awaited nuclear deal between six world
powers and Iran that will put more Iranian oil on an already
Market expectations that the landmark agreement will not add
much oil to the market until well into next year resulted in
crude prices sharply paring back early losses spurred by the
TORONTO, July 13 (Reuters) – Canada’s main stock index
rallied on Monday, tracking global markets relieved that
all-night talks between Greece and euro zone leaders resulted in
a deal that would keep Athens afloat and part of the euro
While Greece has little direct bearing on Canadian equities,
markets were nonetheless nervous and fixated on the potential
broader fallout should talks fail.
TORONTO, July 10 (Reuters) – Canada’s main stock index rose
on Friday on market optimism that the recent turmoil over the
Greek debt crisis and China’s stock market dive has calmed down.
Investors were hopeful that last-minute concessions by
debt-laden Greece could result in a deal with its global
creditors. In China, stocks, which had been plunging on panic
selling, found some stable ground after support measures from
Beijing appeared to be working.
TORONTO, July 9 (Reuters) – Canada’s main stock index
regained some ground on Thursday after Wednesday’s bruising
retreat, but it was off session highs as energy and mining
stocks gave up early gains, undermining stronger financial
A sharp drop in oil prices and risk aversion sparked by an
equities selloff in China had sent the TSX down nearly 1.5
percent on Wednesday, but moves by Beijing to stem the country’s
stocks rout helped calm markets on Thursday.
TORONTO, July 7 (Reuters) – Canada’s main stock index
tumbled more than 1 percent on Tuesday to levels not seen since
January, as worries at home and abroad drove miners, oil and gas
companies, and banks sharply lower.
The three sectors make up some two thirds of the index’s
weight. Nine of the index’s 10 heaviest drags belonged to the
TORONTO, July 6 (Reuters) – Canada’s main stock index was
lower on Monday but had made a significant comeback from big
early losses after Greek voters rejected debt bailout terms,
endangering the country’s future in the euro zone and darkening
overall market sentiment.
Global markets stumbled on the news, but declines were
limited as the referendum decision was already partially priced
in and investors were being careful not to overreact.
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.