Canadian dollar falls below 69.5 cents US, oil up, stock markets waver

TORONTO -- The Canadian dollar hovered around 69.5 cents cents US Thursday as stock markets underwent a volatile morning session.

See Full Article

The loonie was at 69.57 cents US shortly before noon but had been as low as at 69.46 cents at midmorning.The currency finished Wednesday at 69.71 cents U.S., the first close below 70 cents U.S. since April 2003.

Toronto Stock Exchange's S&P/TSX composite index was on a see-saw. It was down 24.43 points at 12,145.98 after nearly two hours of trading but had twice been in positive territory. On Wednesday, it lost 203.49 points, marking the 10th losing day since the Christmas break.

The Dow Jones average of 30 stocks was similarly volatile. It was up 174.34 points points at 16,298.75 but had been in the red, the broader S&P 500 index advanced 15.6 points at 1,905.91 and the Nasdaq 100 gained 27.61 points to 4,210.72.

Most major European indexes were down and Asian markets closed lower with the exception of Shanghai, which rose nearly 2.2 per cent.

On the commodity markets, the February gold contract was down $4.20 at US$1,082.90 an ounce and the February crude contract was up $1.13 at US$31.61 per barrel.



Advertisements

Latest Economic News

  • CPP reform to help lift plan's assets above $15B by 2090: analysis

    Economic CTV News
    OTTAWA - The upcoming enrichment of the Canada Pension Plan will help fuel a 48-fold boost to the public fund's assets over the long haul - to more than $15.8 trillion by 2090, according to federal calculations. Source
  • Asian markets rise after Wall Street's sharp gains

    Economic CTV News
    SEOUL, Korea, Republic Of - Most Asian markets staged modest gains on Wednesday after overnight gains on Wall Street as geopolitical risks and turmoil at the White House that have dented investor sentiment in the past few weeks abated while investors eyed the annual gathering of central bankers. Source
  • B.C. seeks intervener status in court cases against Trans Mountain pipeline

    Economic CTV News
    VANCOUVER -- The British Columbia government has applied for intervener status in court challenges against the Trans Mountain pipeline expansion. The NDP government announced earlier this month that it would be joining the legal fight against Ottawa's approval of the $7.4-billion project and hired former judge Thomas Berger to provide legal advice. Source
  • Rising old age security spending dampened by CPP increases: report

    Economic CBC News
    A mandatory review of the country's largest seniors benefit program is predicting all-time highs in spending over the coming years with waves of baby boomer retirements — spending levels that could have been even higher if not for changes to the public pension program. Source
  • Calgary airport to convert Lexus-only stalls back to accessible parking

    Economic CTV News
    Calgary International Airport has apologized for moving accessible parking stalls and setting up a Lexus marketing campaign in their place. The pavement in the parking spots was painted to indicate they were reserved for drivers of the luxury car. Source
  • Rowdy Korean Air passenger's 3-year prison sentence reversed

    Economic CTV News
    HAGATNA, Guam -- A U.S. appeals court has struck down the three-year prison sentence of a rowdy Korean Air passenger convicted of interfering with flight attendants last year on a flight to Guam. The 9th U.S. Source
  • Striking ground crew at Toronto airport to vote on new offer from employer

    Economic CTV News
    TORONTO - The union representing striking ground crew workers at Canada's busiest airport says it has received a new contract offer that will be voted on tomorrow. About 700 baggage handlers, cabin cleaners, and other ground crew employed by Swissport at Toronto's Pearson International Airport have been on strike since late July. Source
  • June retail sales a bright spot for Canadian economy: economists

    Economic CTV News
    OTTAWA - Canadian retail sales rose slightly in June and continue to be a bright spot in the economy. Statistics Canada says in a report issued Tuesday that the retail sector's growth was 1.1 per cent, excluding automotive and gasoline sales. Source
  • CGI Group moves to expand in northern Europe with takeover of Affecto

    Economic CBC News
    Canada's largest publicly traded IT services business is moving to expand its presence in Europe through the acquisition of Affecto PLC in a friendly deal that would add about 1,000 staff in northern Europe. CGI Group Inc. Source
  • Big banks set to reveal profits this week against the backdrop of improving economy

    Economic CBC News
    Canada's biggest banks could deliver another profitable season for investors as third-quarter results starting to roll in this week are expected to get a boost from the strengthening economy. Analysts expect modest improvements from the Big Six banks, which launch their quarterly earnings reports beginning with Royal Bank on Wednesday, but some suggest the industry could outdo the conservative predictions. Source