Loonie, TSX gain strength as oil prices improve

TORONTO - The Canadian dollar and Toronto Stock Exchange showed improvements Wednesday morning as oil prices improved.

The S&P/TSX composite index had been down shortly after the open but were up 14.6 points at 12,345.92, after 90 minutes of trading.

See Full Article

American stock indexes remained in the red, about three hours before the U.S. Federal Reserve's release of its latest interest rate decision at 2 p.m. ET.

The Dow Jones Industrials average was down 118.27 points at 16,048.96, the broader S&P 500 index declined 9,.74 points to 1,897.63 and the Nasdaq 100 shed 57.44 points to 4,176.41.

The loonie was down 0.09 of a cent at 70.94 cents US, after closing Tuesday above 71 cents US for the first time since Jan. 6.

Canada's dollar has been trading near or just above 13-year lows for weeks as a result of a number of factors, including the increased spread in American and Canadian interest rates, the falling value of major commodities and slow economic growth.



Advertisements

Latest Economic News

  • Globe and Mail to scrap print edition in Atlantic Canada later this year

    Economic CTV News
    TORONTO -- The Globe and Mail is putting a stop to its daily print edition across Atlantic Canada later this year. Publisher Phillip Crawley says the national newspaper plans to halt production for the East Coast version on Nov. Source
  • German softwood imports up tenfold in wake of U.S. duties on Canadian industry

    Economic CTV News
    OTTAWA -- U.S. imports of softwood from Germany have grown tenfold in the first half of the year as punishing duties pushed imports of Canadian softwood down. RBC Capital Markets analyst Paul Quinn says Canadian lumber producers have plunked down an estimated $500 million so far in countervailing and antidumping duties after the U.S. Source
  • Home Capital class-action lawsuit settlement approved by Ont. court

    Economic CBC News
    An Ontario court has approved the settlement of a $29.5 million class-action lawsuit by investors against alternative mortgage lender Home Capital Group Inc. The Ontario Securities Commission approved a settlement earlier this month with the Toronto-based company and three former executives who agreed they failed to tell investors quickly and completely about fraudulent activity by some mortgage brokers associated with the lender. Source
  • Court approves Home Capital class-action lawsuit settlement

    Economic CTV News
    LONDON, Ont. - An Ontario court has approved the settlement of a $29.5 million class-action lawsuit by investors against alternative mortgage lender Home Capital Group Inc. The Ontario Securities Commission approved a settlement earlier this month with the Toronto-based company and three former executives who agreed they failed to tell investors quickly and completely about fraudulent activity by some mortgage brokers associated with the lender. Source
  • Transat shares surge after positively revising summer earnings outlook

    Economic CBC News
    Shares of Transat A.T. surged on Monday to the highest level since early 2015 after the travel company signalled that it is having a significantly more profitable summer season than it had expected. The Montreal-based company's shares rose as high as $8.85 on Monday before easing back to $8.70 in intraday trading on the Toronto Stock Exchange, up 74 cents from Friday's close. Source
  • Losing PC Financial may give Loblaw the chance to merge PC Points with Shoppers Optimum, analyst says

    Economic CBC News
    Another divorce in Canada's loyalty card sector has consumers stuck in the middle asking questions about the future of an industry still bruised by the actions of some of its largest providers. The Canadian Imperial Bank of Commerce announced last week it is severing ties with Loblaw's President's Choice Financial and rolling PC's two million bank accounts into its Simplii Financial brand starting Nov. Source
  • CIBC divorce from PC Financial shines light on bruised loyalty card industry

    Economic CTV News
    MONTREAL -- Another divorce in Canada's loyalty card sector has consumers stuck in the middle asking questions about the future of an industry still bruised by the actions of some of its largest providers. The Canadian Imperial Bank of Commerce announced this week it is severing ties with Loblaw's (TSX:L) President's Choice Financial and rolling PC's two million bank accounts into its Simplii Financial brand starting Nov. Source
  • Ontario to move ahead with road access into chromite-rich Ring of Fire region

    Economic CTV News
    THUNDER BAY, Ont. -- Premier Kathleen Wynne says Ontario is moving ahead with building roads into the Ring of Fire region. The provincial government has been talking with the chiefs of the Matawa First Nations for years, since it pledged $1 billion in 2014 to fund infrastructure into the chromite-rich area. Source
  • Toronto stock index down slightly, as Canadian dollar strengthens

    Economic CTV News
    TORONTO - The Toronto stock market fell slightly this morning, but held onto its value better than the major American indexes. The S&P/TSX composite index was down 2.38 points to 14,949.95, after 90 minutes of trading. Source
  • Major stock indices flat ahead of major central bankers conference

    Economic CTV News
    TORONTO -- Major North American stock markets stayed relatively flat today ahead of a major central bankers conference scheduled to begin Thursday. The Toronto Stock Exchange's S&P/TSX composite index inched down 0.45 of a point to 14,951.88. Source