Apr 22 2021 — Ross Marowits, The Canadian Press — TORONTO — North American stock markets moved lower Thursday on a report that U.S. President Joe Biden is planning to nearly double the capital gains tax on wealthier Americans. Markets initially welcomed lower unemployment claims and good earnings results, but fell around 1 p.m. after Bloomberg reported that investors earning US$1 million or more would […]
Apr 21 2021 — Ross Marowits, The Canadian Press — TORONTO — The loonie had its best performance in about five weeks after the Bank of Canada was the first global central bank to take action because of a stronger economic rebound. The Canadian dollar reached a high of 80.27 cents but dipped below 80 cents at the end of the day to trade for […]
Apr 20 2021 — Ross Marowits, The Canadian Press — TORONTO — Canada's main stock index had its worst day in nearly seven weeks on profit-taking following record highs and investor sentiment being weighed down by high COVID-19 infection rates. The S&P/TSX composite index closed down 163.64 points to 19,040.78, for the largest decrease since March 4. In New York, the Dow Jones industrial average […]
Apr 19 2021 — Ross Marowits, The Canadian Press — TORONTO — North American stock markets slipped from record highs to start the trading week as investors paused while they wait to see if earnings results in the coming weeks meet lofty expectations. "We have reached record highs on Friday so I think investors are just taking a break, taking a pause, and they're waiting […]
Apr 9 2021 — Ross Marowits, The Canadian Press — TORONTO — Canada's main stock index slipped ever so slightly on lower commodity prices as it capped a record-setting week while the loonie rose on a strong jobs report for March.The S&P/TSX composite index was down less than one point from the previous day's record close to reach 19,228.03. The Toronto market gained 1.25 per […]
Apr 8 2021 — Ross Marowits, The Canadian Press — TORONTO — Technology drove Canada's main stock index and U.S. markets higher on a levelling of bond yields in response to dovish comments from the U.S. Federal Reserve. Minutes from a recent meeting released Wednesday and comments Thursday by Fed chairman Jerome Powell that "didn't rock the boat" helped to convince investors that the central […]
Apr 6 2021 — Ross Marowits, The Canadian Press — TORONTO — Canada's main stock index is following a well-documented trend for April by continuing to set records as investor optimism moved the materials, technology and energy sectors higher. April is historically the best month in the second quarter and one of the best months of the year, said Sid Mokhtari, executive director of institutional […]
Apr 5 2021 — Ross Marowits, The Canadian Press — TORONTO — Transat AT shares plunged as much as 22.6 per cent in the first day of trading after Air Canada pulled the plug on its takeover of the Montreal-based tour operator over Europe's unwillingness to approve the deal.Transat shares decreased to a low of $4.25 and were down 80 cents or 14.6 per cent […]
Apr 4 2021 — Ross Marowits, The Canadian Press — TORONTO — When the bottom fell out of North American stock markets a year ago, few investors would have imagined how unsettled the world would remain a year later, even after a massive financial rebound. People were in panic mode back in February and March of 2020, recalls Candice Bangsund, portfolio manager for Fiera Capital. […]
Apr 1 2021 — Ross Marowits, The Canadian Press — TORONTO — Canadian Pacific Railway is facing scant opposition so far over its US$25-billion bid for Kansas City Southern in a turn of events from prior takeover efforts. Wasatch Railroad Contractors, a rail-oriented business in Wyoming, made the initial filing with the U.S. Surface Transportation Board arguing against the deal. Chairman and CEO John Rimmasch […]
Mar 31 2021 — Ross Marowits, The Canadian Press — The Canadian Press — TORONTO — A resurgence in the tech sector helped power Canada's main stock index to its fourth-straight quarterly gain despite dipping for the day. The S&P/TSX composite index lost 4.89 points to 18,700.67 after plunging just before the close of trading. It ended up 3.5 per cent in March and rose 7.3 per cent in […]
Mar 30 2021 — Ross Marowits, The Canadian Press — TORONTO — A drop in gold prices moved the key metals and mining sector lower and stood in the way of a positive day for Canada's main stock index on Tuesday. "There's clearly some significant pressure on the gold names. That's the biggest drag on the TSX, otherwise we'd be much higher on the broader […]
Mar 26 2021 — Ross Marowits, The Canadian Press — TORONTO — Canada's main stock index moved higher to end a relatively flat week as sectors that rely on the economy reopening offset continued losses in technology. The S&P/TSX composite index closed up 101.48 points to 18,752.58 after hitting an intraday low of 18,591.24 In New York, the Dow Jones industrial average was up […]
Mar 25 2021 — Ross Marowits, The Canadian Press — TORONTO — Shopify Inc. lost its crown as Canada's most valuable company as its total market capitalization from all classes of shares fell below Royal Bank amid the continued pullback by the technology sector. The Ottawa-based tech company moved to the top position last May as its share price began a phenomenal run, quadrupling its […]
Mar 23 2021 — Ross Marowits, The Canadian Press — TORONTO — North American stock markets fell as concerns rose about a third wave of COVID-19, a year to the day since hitting a bottom during the early stages of the unprecedented health crisis. The S&P/TSX composite index closed down 145.33 points at 18,669.80 after hitting an intraday low of 18,642.52. A year ago, Canada's […]