TSX poised to end 2015 deep in the red

TORONTO -- The Toronto stock market was poised to settle deep in the red Thursday, closing out what has been one of its more tumultuous years in recent memory.

See Full Article

In mid-afternoon trading, the S&P/TSX composite index was off 132.21 points at 13,010.08, marking the third consecutive day its been down since trading resumed Tuesday following the Christmas-Boxing Day holiday.

That left Canada's main index down 1,622.36 points -- or a loss of some 11 per cent -- from its close of 14,632.44 exactly a year ago.

"From an investment standpoint it was a year of avoiding Canada," said Cavan Yie, equity analyst of investments at Manulife Asset Management.

The loonie showed some measure of life, closing up 0.23 of a cent at 72.25 cents U.S. Still, that's well below where it finished 2014, when it was worth 86.2 cents U.S.

On commodity markets, the February contract for benchmark crude oil was up 95 cents at US$37.55 a barrel, while February natural gas rose 13 cents to US$2.34 per mmBtu.

Elsewhere in commodities, the February gold contract was unchanged at US$1,059.80 a troy ounce and March copper dropped by a penny to US$2.14 a pound.

Markets in New York also looked to finish the year on a weak note. The Dow Jones average was down 74.51 points at 17,529.36, while the S&P 500 fell 7.47 points to 2,055.89 and the Nasdaq lost 26.48 points to 5039.36.

The modest losses in afternoon trading Thursday nudged the S&P 500 index back into the red for the year, with 2015 shaping up to be the worst year for that market since 2011.

With dividends included, the S&P 500 was on track for a total return of 2.4 per cent for the year, down from 13.7 per cent last year. The Nasdaq is up some 6.4 per cent for the year, while the Dow is on track to end 2015 with a loss of 1.7 per cent.

"It's a lousy end to a pretty lousy year. A very unrewarding year," Edward Campbell, portfolio manager for QMA, a unit of Prudential Investment Management, told The Associated Press.

In European trading, Britain's FTSE 100 dropped 0.5 per cent, putting it down 4.9 per cent for the year. France's CAC-40 slipped 0.9 per cent Thursday, but was up 8.5 per cent on the year. Germany's main stock market was closed Thursday for the holiday but ended the year with a 9.6 per cent gain.



Advertisements

Latest Economic News

  • Why do you need a pet insurance, right here, right now

    Economic 24news
    Many Canadians would consider their pets as a part of their immediate, granular, family. Although some professionals think it’s not healthy, that’s the way life is in the twenty first century; There is a steep decline in the birth rate globally, with Japan leading the pack, and pets are filling in the void.
  • Why Trump's desire for a protectionist wall threatens more than NAFTA: Don Pittis

    Economic CBC News
    Completing Donald Trump's Mexican border wall seems as far away as it ever did. But some Canadian trade experts fear the protectionist president may be succeeding in building trade walls that could weaken the entire global economy. Source
  • Lower U.S. business taxes, uncertainty over NAFTA complicate Trudeau's investment pitch in Davos

    Economic CBC News
    One of Canada's central aims at this year's World Economic Forum is to convince global business leaders that Canada is still an attractive place to invest. It is a challenge made all the more difficult because of the uncertainties posed by ongoing NAFTA negotiations and recent cuts to U.S. Source
  • Amazon to debut store without checkout in downtown Seattle

    Economic CTV News
    SEATTLE - Amazon employees have been testing it, but is the public ready for a cashier-less store? More than a year after it introduced the concept, Amazon is opening its artificial intelligence-powered Amazon Go store in downtown Seattle on Monday. Source
  • Asian stocks mixed after U.S. government shutdown

    Economic CTV News
    BEIJING - Asian stock markets were mixed Monday after global investors shrugged off the latest U.S. government shutdown. KEEPING SCORE: The Shanghai Composite Index rose 0.2 per cent to 3,495.40 while Tokyo's Nikkei 225 lost 0.2 per cent to 23,764.96. Source
  • Amazon to debut cashier-less store in downtown Seattle

    Economic CTV News
    SEATTLE -- Amazon employees have been testing it, but is the public ready for a cashier-less store? More than a year after it introduced the concept, Amazon is opening its artificial intelligence-powered Amazon Go store in downtown Seattle on Monday. Source
  • 'Archaic' liquor laws in B.C. hurt consumers, whisky distributor says

    Economic CTV News
    VANCOUVER -- An Alberta-based whisky distributor says "archaic" liquor policies in British Columbia are limiting the range of products consumers can access. Robert Carpenter with the Scotch Malt Whisky Society says B.C. bars have long skirted rules that prevent them from buying unique products at private liquor stores that aren't carried at government stores. Source
  • With a deep tech talent pool, Toronto could hit Amazon's 'sweet spot' with bid for new HQ

    Economic CBC News
    Toronto faces stiff competition in its bid to court Amazon, but some Canadian tech experts agree that among the 20 cities short-listed as potential locations for the company's second headquarters, Toronto might just hit "the sweet spot. Source
  • HBC's Lord & Taylor to lay off 200 in U.S. operations move

    Economic CTV News
    WILKES-BARRE, Pa. -- Lord & Taylor has announced that it will be laying off about 200 people at a Pennsylvania distribution centre as it moves some operations to a new location about 80 kilometres away. Source
  • Four things to watch for in the Canadian business world in the coming week

    Economic CTV News
    TORONTO -- Four things to watch for in the Canadian business world in the coming week: Time to have "the talk"? Alimentation Couche-Tard's hosts its first-ever investor day on Monday. The large convenience store chain, which operates as Circle K outside Quebec, recently said it hasn't given up hope of selling cannabis as some Western Canadian provinces turn to the private sector for over-the-counter sales. Source