The Ledge, Greenwood B.C., Thursday, October 11, 1906
The Ledge, Greenwood, B.C., Thursday, October 25, 1906
The Ledge, Greenwood, B.C., Thursday, October 25, 1906
The Ledge, Greenwood, B.C., Thursday, December 27, 1906
Source: B.C. Historical Newspapers
Markets in Canada’s biggest centre gave up their earlier gains Monday , as shares in mining and health-care-related companies went down in price.
The S&P/TSX composite index moved negative 51.11 points to finish the day at 13,382.38
The Canadian dollar shed 0.12 cents at 74.78 cents U.S.
Metals and mining stocks took the biggest bruises, as Teck Resources slid 27 cents, or 4.7%, to $5.53, while Potash Corporation of Saskatchewan lost 34 cents, or 1.3%, to $26.33.
Power generation company TransAlta Corp shares surged 51 cents, or 9.4% to $5.96 after the Alberta government’s move to phase out coal-fired generation by 2030, a timeline that it said would not “strand capital.”
Uncertainty over the uncertainty of the future value of its coal assets in Alberta has hurt the stock price, according to officials with the company.
The Notley government in Alberta said on Sunday it will implement an economy-wide tax on carbon emissions in 2017.
Capital Power, which also operates in Alberta, fell $1.94, or 10.3%, to $16.82.
The overall energy group jumped as Encana Corp advanced 36 cents, or 3.5% to $10.67 and Suncor Energy added seven cents to $36.67.
Shares in Manitoba Telecom Services advanced $1.56, or 5.5%, to $30.15 after it announced a deal to sell its Allstream national fiber-optic network.
Valeant Pharmaceuticals International got roughed up, however, losing $3.98, or 3.3%, to $117.08, after spending a fair bit of the session in positive territory.
Among financials, Royal Bank of Canada slipped 58 cents, or 0.8%, to $75.49 and Manulife Financial Corp gave up 20 cents to $21.67.
ON BAYSTREET
The TSX Venture Exchange remained positive 0.51 points to 521.16.
Eight of the 13 TSX subgroups were lower, as metals and mining skidded 3.9%, health-care was down 1.7%, and industrials moved lower 0.8%.
The five gainers were led by energy stocks, chugging 0.9% higher, telecoms, up 0.6%, and consumer staples, better by 0.5%.
ON WALLSTREET
U.S. stocks traded mostly lower Monday as investors remarked on fluctuations in oil prices and looked ahead to economic reports in the shortened Thanksgiving holiday week.
The Dow Jones industrial average dipped 31.13 points to close at 17,792.68, dragged by declines in Apple, Goldman Sachs and Boeing, while Home Depot chipped in the most in terms of gains.
The S&P 500 gave up 2.58 points to 2,086.59. Energy briefly traded more than 1% higher to lead the S&P 500. Consumer staples and materials were also among the S&P advancers, with Alcoa trading 38 cents, or 4.4% higher to $9.07 U.S.
The NASDAQ index dipped 2.44 points to 5,102.48.
Pfizer traded 2.6% lower to $31.33 U.S. Earlier, the stock briefly fell more than 3% in morning trade after announcing it will buy Allergan for about $160 billion U.S. in the biggest deal ever in the health sector.
The transaction will allow the New York-based drug giant to relocate to Ireland to cut its U.S. tax burden. Shares of Allergan declined 3.4% to close at $301.72.
In other corporate news, activist investor Carl Icahn said insurance giant American International Group is “too big to succeed” and should separate into three public companies. The stock was up 0.9% to $62.76.
In economic news Monday, the Chicago Fed National Activity Index was minus 0.04 in October, up from minus 0.29 in September.
Existing home sales showed a decline of 3.4% in October.
Prices for 10-year U.S. Treasuries gained back lost ground, lowering yields to 2.25% from Friday’s 2.26%. Treasury prices and yields move in opposite directions.
Oil prices were static at $41.90 U.S.
Gold prices ditched $9.04 to $1,068.67 U.S. an ounce
Teck Resources Ltd closed sharply lower Monday, dropping $0.27 or 4.66% to $5.53. Over the last five days, shares have lost 10.66% and are down 65.18% for the last year to date. This security has underperformed the S&P TSX by 60.83% during the last year.
Source: Stock Quote – The Globe and Mail
The White House urged allies on Monday to do more in the campaign against the Islamic State, while President Barack Obama faced pressure in return to show the U.S.-led coalition will intensify efforts in response to the Paris attacks, even without a major shift in strategy.
Requests for more counterintelligence, military and humanitarian assistance came a day before French President Francois Hollande was to arrive at the White House to discuss the fight against the extremists believed to be behind the Nov. 13 attacks that killed 130 people. Hollande, who next visits Russian President Vladimir Putin, is expected to seek more coordinated military operations that would include both the U.S. and Moscow.
Obama has shown no inclination to rethink the U.S. strategy or significantly expand America’s commitment, despite pressure from Hollande, Republican critics and some members of his own Democratic Party. However, Secretary of State John Kerry said in Abu Dhabi that both he and the president would like to see progress against the Islamic State “go faster.”
At the White House, spokesman Josh Earnest said the U.S. may step up efforts supporting strategies believed to be working — airstrikes and train-and-assist missions in Syria and Iraq — but he played down the possibility of any surge of new American resources into the fight.
The U.S. is “pulling more than our weight” in the coalition, Earnest said. “And we believe that there is more that can be done if countries are willing to contribute additional resources.”
Source: White House Asks Allies to Step up in IS Campaign – ABC News
Premiers are confident the advent of new leadership in Ottawa and Alberta will allow Canada to shed its international reputation as an environmental pariah.
Source: Premiers hopeful Canada can shed international image as environmental pariah | CTV News
Andrew Phillip Chernoff 