Money Toronto stocks close lower, loonie up

03:31  04 july  2018
03:31  04 july  2018 Source:   msn.com

Toronto stocks lower, while loonie climbs

  Toronto stocks lower, while loonie climbs Toronto stocks lower, while loonie climbsThe S&P/TSX composite index was down 85.19 points to 16,146.06, after 90 minutes of trading.

The August crude contract closed down 17 cents at US.54 per barrel and the July natural gas contract ended up one cent to US.98 per mmBTU. North American stocks close higher as oil price surges, loonie edges lower .

TORONTO - Canada's main stock index was in the red at late-morning as the key energy, financial and materials sectors all lost ground. The S&P/TSX composite index was down 85.19 points to 16,146.06, after 90 minutes of trading. In New York, the Dow Jones industrial average was up 8.61 points to 24

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Canada's main stock index closed lower on a day that saw big swings in the oil price while U.S. stocks were down on a shortened trading day ahead of the U.S. July 4 holiday.

Oil was initially trading higher Tuesday, cresting US$75 a barrel for the first time since 2014 before it fell after comments by Saudi Arabia about increasing production, said Craig Jerusalim, portfolio manager at CIBC Asset Management.

"There were indications they had agreed to pump more oil. There had been some soft pressures from the U.S. in the form of tweets suggesting that that's a direction they wanted them to go."

Toronto stocks up, loonie edges higher

  Toronto stocks up, loonie edges higher Canada's main stock index closed higher Wednesday helped by broad-based gains in the health-care, energy, and gold sectors, while the loonie inched higher. Enbridge Inc.'s deal to sell $4.31-billion worth of Western Canadian natural gas infrastructure was the big mover of the day, said Michael Currie, vice-president and senior investment advisor at TD Wealth."It's definitely the biggest story of the day, it definitely got it moving. Enbridge has been struggling a bit this year, it's still negative year-to-date. But it's nice to see a deal where both Enbridge and Brookfield did take a jump on the day.

Canada’s main stock index closed lower , led by the financials sector, while the loonie slid. The Toronto Stock Exchange’s S&P/TSX composite index gave back 95.65 points to 15,649.54. SIGN UP .

TORONTO - Canada's main stock index was in the red at late-morning as the key energy, financial and materials sectors all lost ground. The S&P/TSX composite index was down 85.19 points to 16,146.06, after 90 minutes of trading. In New York, the Dow Jones industrial average was up 8.61 points to 24

Oil prices have been climbing as the U.S. has ramped up pressure on allies not to buy Iranian oil as well as on production issues including at the Syncrude refinery in Alberta, but Jerusalim said Saudi Arabia could step in to stabilize supply.

"Saudi does have excess capacity, so to the extend that there could be disruptions in Iran or in other, non-OPEC countries, Saudi is there to fill the gap if need-be."

The indications of increased supply from Saudi Arabia caused a sharp US$2 a barrel drop in oil prices from the US$75.27 peak but the price recovered somewhat to end the day up 20 cents at US$74.14 per barrel for the August crude contract.

The price pressures sent the S&P/TSX capped energy index down 0.45 per cent, while the global base metal index had the biggest fall with a 2.7 per cent decline as the price of copper slid.

Toronto stocks close down, loonie edges up

  Toronto stocks close down, loonie edges up Canada's main stock index ended lower as energy stocks weighed, while U.S. stock markets edged higher a day after they were closed for the July 4 holiday. The S&P/TSX capped energy index was slid a per cent to be the worst of the sectors on the TSX as prices for oil and gas both fell.Overall, the S&P/TSX composite index closed down 38.11 points at 16,266.61 as financials and materials stocks also slid.Base metal stocks were up on the day despite a big slide in the September copper contract that ended down nine cents at US$2.83 a pound.Copper has fallen steeply from the nearly US$2.

TORONTO - Canada's main stock index closed lower Friday despite morning gains as key "The loonie 's already been under a fair amount of weakness over the last few months, and a lot Lululemon Athletica Inc. saw its share price shoot up US.14 or 16.32 per cent on the Nasdaq to close at US

Canada's main stock index retreated from a record high Wednesday to close lower along with other North American markets Thursday. The August crude contract closed down 17 cents at US.54 per barrel and the July natural gas contract ended up one cent to US.98 per mmBTU.

The S&P/TSX composite index closed down 14.57 points at 16,263.16, as gold and materials indexes help counter losses in other commodities.

Gold stocks were rising as the August gold contract closed up $11.80 at US$1,253.50 an ounce, though the metal is still down about US$100 an ounce since mid-April.

"Gold isn't as strong as you'd think it might have been given all the trade rhetoric and uncertainty, and that's largely on the strength of the US dollar," said Jerusalim.

He said Tuesday's slide in the U.S. dollar helped gold on the day, and also helped the Canadian dollar, which averaged 76.02 cents US to be up 0.08 of a US cent.

In New York, the Dow Jones industrial average closed down 132.36 points at 24,174.82. The S&P 500 index closed down 13.49 points at 2,713.22 and the Nasdaq composite index ended down 65.02 points at 7,502.67.

Stocks had started higher in the U.S. after President Trump indicated he wouldn't withdraw the U.S. from the World Trade Organization for now, but stocks swung down on other trade issues, said Jerusalim.

Toronto stocks higher, U.S. markets also gain

  Toronto stocks higher, U.S. markets also gain The industrials sector helped lift Canada's main stock index at late-morning, while U.S. stock markets also climbed higher as technology companies and banks rose.  The S&P/TSX composite index was up 48.90 points to 16,420.68, after 90 minutes of trading.

TORONTO — Canada’s main stock index was lower in late-morning trading after closing at a record high a day earlier. The August crude contract was up 15 cents to US.86 per barrel and the July natural gas contract was up one cent to US.98 per mmBTU.

Canada's main stock index retreated from a record high Wednesday to close lower along with other North American markets Thursday. The August crude contract closed down 17 cents at US.54 per barrel and the July natural gas contract ended up one cent to US.98 per mmBTU.

"Later in the day we saw tit-for-tat, blocking and tackling going on between China and the U.S. where the U.S. had decided to block China Mobile's forays into the U.S., and then China temporarily blocked Micron's chip sales, and that largely sent the U.S. market lower."

U.S. markets also closed early Tuesday ahead of U.S. Independence Day, leading to lower volumes and more volatility, said Jerusalim.

"It really doesn't take much under those circumstances to spook the market."

The August natural gas contract was up one cent at US$2.87 per mmBTU and the September copper contract was down three cents to US$2.92 a pound.

Resource stocks weigh on Toronto market .
A rise in trade tensions after the U.S. released details of more planned tariffs against China helped send commodities and North American markets down Wednesday, while the loonie also slipped despite a rate hike by the Bank of Canada. Markets reacted this morning after the U.S. released a list of $200 billion in Chinese goods that could be hit by tariffs, which China promised to retaliate against.

Source: http://ca.pressfrom.com/news/money/-82074-toronto-stocks-close-lower-loonie-up/

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