Resource stocks push TSX, dollar up slightly

TORONTO - Resource stocks helped the Toronto stock market inch slightly higher, while south of the border stocks tumbled for a second straight session.

See Full Article

The TSX/S&P composite index gained 14.37 points to 13,024.30, after plummeting 156.15 points the previous day as commodities took a beating and investors digested the interest rate hike south of the border.

The loonie was up 0.03 of a U.S. cent to 71.71 cents US.

In New York, The Dow Jones average of 30 stocks plummeted 367.39 points to 17,128.45, the broader S&P 500 index gave back 36.37 points to 2,005.52 and the Nasdaq fell 79.47 points to 4,923.08.

On the commodity markets, the February gold contract rose $15.40 to US$1,065.00 an ounce, the January crude contract declined 22 cents to US$34.73 per barrel and the January contract for natural gas was up 1.2 cents at US$1.767 per mmBtu.

March copper rose seven cents to US$2.11 per pound.



Advertisements

Latest Economic News

  • Samsung, surmounting legal woes, logs record profit on chips

    Economic CTV News
    SEOUL, Korea, Republic Of -- After a tumultuous year when its chief was jailed and its fire-prone smartphones were recalled and then discontinued, Samsung Electronics has reported record high quarterly earnings thanks to booming demand for memory chips. Source
  • Suncor posts higher net earnings despite oilsands production shortfall

    Economic CTV News
    CALGARY -- Suncor (TSX:SU) is reporting higher net earnings in the second quarter despite lower than expected oilsands production due to maintenance down time at its northern Alberta projects. The company says it had net earnings of $435 million or 26 cents per share in the three months ended June 30, compared with a net loss of $735 million or 46 cents per share in the same period last year, during which a wildfire near Fort McMurray, Alta. Source
  • West Fraser Timber Co. to buy U.S. lumber business for US$430 million

    Economic CTV News
    VANCOUVER - Canadian forestry company West Fraser Timber Co. says it has agreed to buy a U.S. lumber business for about US$430 million. B.C.-based West Fraser says it will acquire the operations of the Gilman Companies from the Howard Gilman Foundation and other shareholders. Source
  • Barrick Gold to talk with Tanzania about US$190-billion tax bill

    Economic CTV News
    TORONTO -- Barrick Gold Corp. (TSX:ABX) said in its quarterly results that it will start discussions with the Tanzania government next week on a precious-metal export ban and other issues impacting its majority-owned Acacia Mining company. Source
  • Facebook's ads just keep creeping into new apps

    Economic CTV News
    NEW YORK -- Scrolling through an ad-free Instagram is now a distant memory, much like the once ad-free Facebook itself. Soon, users of its Messenger app will begin to see advertisements, too -- and WhatsApp may not be too far behind. Source
  • Sears Canada shuts down Facebook comments amid flood of angry messages

    Economic CBC News
    After getting flooded with angry comments about its treatment of laid-off workers, and by calls for a boycott, Sears Canada is no longer allowing public posts on its Facebook site. It appears the retailer has also removed all comments made after July 6, though some earlier, negative posts still linger on the site. Source
  • Whole Foods sales struggle shows Amazon buying a fixer-upper

    Economic CTV News
    AUSTIN, Texas -- Amazon is set to have a fixer-upper on its hands, with Whole Foods reporting that a key sales figure declined again. The grocery chain said Wednesday that sales fell 1.9 per cent at established locations for the three months that ended July 2. Source
  • Facebook profit, revenue smash estimates as mobile ad sales soar

    Economic CBC News
    Facebook Inc. crushed quarterly profit and revenue estimates on Wednesday as the social media giant's push into video ads helped bolster its fast-growing mobile ad business. The company's shares were up 1.4 per cent at $168 US after the bell. Source
  • B.C.'s LNG outlook dims after $36B Pacific NorthWest LNG project scrapped

    Economic CTV News
    VANCOUVER - Experts say dreams of a booming liquefied natural gas industry in British Columbia appear to be evaporating, at least for the foreseeable future, after Petronas and its partners scrapped a $36-billion megaproject in the province. Source
  • Via Rail seeks to limit scope of wheelchair and mobility aid policy

    Economic CTV News
    TORONTO -- Via Rail is trying to limit the scope of a policy to make its trains more accessible to travellers using wheelchairs and mobility aids. The national rail provider had revised its policy in May in compliance with an order from the Canadian Transportation Agency, which directed Via to double the number of mobility devices that could be tied down on trains from one to two. Source