TSX gain strength Wednesday as oil price rises, loonie falls

TORONTO -- The Toronto stock market gained ground on a volatile day as oil prices rose and the U.S. central bank said it would leave its overnight interest rate unchanged.

See Full Article

The S&P/TSX composite index added 46.45 points to end the day at 12,377.77, after rising 188 points on Tuesday.

In New York, the Dow Jones Industrial average plummeted 222.77 points to close at 15,944.46, the broader S&P 500 index dropped 20.68 points to 1,882.95, and the Nasdaq fell 99.50 points to end the day at 4,468.17.

On commodity markets, the March crude contract rose 85 cents to settle at US$32.30 a barrel, while the February gold contract fell $4.40 to US$1,115.80 an ounce and March natural gas dropped one tenth of a cent to US$2.157 per mmBtu.

The loonie lost 0.14 of a U.S. cent to end trading at 70.91 cents US, after the U.S. Federal Reserve said it still plans on raising interest rates in future despite slowing economic growth.



Advertisements

Latest Economic News

  • Wellsite pipeline leak spills 560 barrels of oil into northern Alberta swamp

    Economic CTV News
    CALGARY - The Alberta Energy Regulator says a pipeline owned by Calgary-based Mount Bastion Oil & Gas Corp. has leaked about 560 barrels of an oil and water mixture at a northern Alberta wellsite. AER spokesman Jordan Fitzgerald says the regulator has staff supervising cleanup by the company at the site about 65 kilometres northwest of Red Earth Creek, which is about 420 kilometres north of Edmonton. Source
  • Uber customers torn between scandals and service

    Economic CTV News
    DETROIT -- Uber has managed to hold the title of world's largest ride-hailing service despite its seemingly endless string of scandals. Its latest misbehaviour involving a data breach coverup revealed this week could be the impetus for people to ride elsewhere -- or keep looking the other way. Source
  • Freedom Mobile announces iPhone X dates, provides update on network rollout

    Economic CBC News
    Freedom Mobile will begin taking orders for the Apple iPhone X and iPhone 8 models starting Friday, with the smartphones in its stores on Dec. 8. While that's more than a month after Canada's three national wireless carriers began selling the iPhone X, it will be the first time Freedom Mobile has a full roster of Apple smartphones to offer its customers. Source
  • Highlights of sweeping new Ontario labour laws, including a minimum wage boost

    Economic CTV News
    TORONTO -- Ontario's Liberal government passed a host of changes to labour laws Wednesday. Here are some highlights of the legislation, including the centrepiece minimum wage increase: -- Minimum wage rises from $11.60 an hour to $14 on Jan. Source
  • Canadian grocers expand online services after Amazon acquires Whole Foods chain

    Economic CTV News
    VANCOUVER -- Metro Inc. is looking to expand its online grocery offerings to Ontario next year, making it the latest Canadian retailer to ramp up its e-commerce options in the face of potential competition from Amazon. Source
  • Unknown number of Canadians may be caught up in Uber data breach

    Economic CBC News
    Canada's federal privacy commissioner says Uber Technologies Inc. can't confirm how many Canadians may be affected by an October 2016 security breach that the riding-hailing firm initially tried to cover up. The Office of the Privacy Commissioner of Canada told CBC News it has reached out to the company to ask for more information about the breach. Source
  • Iran-based hacker charged with trying to extort HBO

    Economic CBC News
    An Iran-based hacker plotted to extort HBO out of $6 million US by threatening to release stolen episodes and scripts of hit shows, such as Game of Thrones, at one point taunting the network with a twist on a catch phrase form that series: "Winter is coming. Source
  • HBC says Competition Bureau's mattress pricing probe has cost it $425K US

    Economic CBC News
    Hudson's Bay Co. says it has spent more than $425,000 US to date to comply with demands for documents from Canada's competition watchdog as it investigates alleged deceptive pricing practices. The retailer says in a filing with the Competition Tribunal that it has invested more than 6,500 person-hours to produce 37,000 documents in response to the Competition Bureau's complaint made last February. Source
  • HBC says Competition Bureau's mattress pricing probe has cost it US$425,000

    Economic CTV News
    OTTAWA -- Hudson's Bay Co. says it has spent more than US$425,000 to date to comply with demands for documents from Canada's competition watchdog as it investigates alleged deceptive pricing practices. The retailer says in a filing with the Competition Tribunal that it has invested more than 6,500 person-hours to produce 37,000 documents in response to the Competition Bureau's complaint made last February. Source
  • Business journalist Amanda Lang will return to BNN in January 2018

    Economic CTV News
    TORONTO - After six years at the CBC and just under a year at the now-defunct Bloomberg TV Canada, business journalist Amanda Lang will return to Business News Network in January. CTV News president Wendy Freeman announced Wednesday that Lang will also contribute to other Bell Media properties including CTV News and iHeartRadio. Source