Arab Today, arab today canadian stock market edges up as energy rally offsets losses by miners shares
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Canadian stock market edges up as energy rally offsets losses by miners' shares

Arab Today, arab today

Arab Today, arab today Canadian stock market edges up as energy rally offsets losses by miners' shares

Toronto stock Exchange
Toronto - XINHUA

Canada's main stock market in Toronto stayed in the positive territory Thursday as gains driven by energy shares overpowered severe losses from the mining sector due to disappointing quarterly financial results.

Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index added 80.98 points, or 0.57 percent, to 14,382.78 points.

A slump both in bullion and basic metals prices in the commodities market weighed on the intra-day trading sentiment. Metals and mining shares dived 5.02 percent on the closing bell, after most of the heavyweights reported downbeat quarterly financial reports.

In individual companies' performance, Goldcorp Inc., the biggest gold stock by market value in TSX, plunged 1.38 percent to 16.46 Canadian dollars (about 12.65 U.S. dollars) after it reported an adjusted net earnings of 65 million U.S. dollars in the second quarter, compared to 164 million U.S. dollars in the second quarter of 2014.

Meanwhile, First Quantum Minerals Ltd., the biggest negative mover in the sector Thursday, shrank 10.44 percent to 10.12 Canadian dollars, as the basic metals giant reported Wednesday after the closing bell that its comparable earnings per share decreased 88.5 percent and its revenue decreased 35.4 percent in the second quarter, compared with the same period of last year.

A big rise of 2.89 percent in Energy, the second most-heavily- weighed sector in TSX, however, helped boosted the trading sentiment, as Canada's biggest oil and gas producer Suncor Energy Inc. led the gainers. Its stock price jumped 6.33 percent to 36.81 Canadian dollars a share, after the company announced that it would increase the dividend for its shareholders.

And another positive mover Crescent Point Energy Corp. gained 4. 02 percent to 20.20 Canadian dollars per share.

Besides, the telecom sector advanced 1.27 percent, when the leading company Manitoba Telecom Services Inc. rose 3.09 percent to 29.68 Canadian dollars per share, after it reported that its free cash flow grew 41 percent in the second quarter.

With no significant economic data released Thursday, Canada's third biggest bank Scotiabank issued an economic commentary, saying that although the Canadian economy faces a number of challenges, consumer spending and housing activity remain quite buoyant in the Toronto and Vancouver regions, both of which are being underpinned by Bank of Canada rate cuts this year, and continuing private-sector job gains.

On the currency front, the Canadian dollar was traded lower to 0.7686 U.S. dollar Thursday, when compared with 0.7726 U.S. dollar Wednesday, and "(the Canadian) currency trends have become increasingly volatile, the Canadian dollar will likely remain at a deep or potentially even deeper discount to the greenback, providing a solid boost to the domestic tourism and entertainment industry," according to the report by Scotiabank Thursday.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today canadian stock market edges up as energy rally offsets losses by miners shares Arab Today, arab today canadian stock market edges up as energy rally offsets losses by miners shares

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today canadian stock market edges up as energy rally offsets losses by miners shares Arab Today, arab today canadian stock market edges up as energy rally offsets losses by miners shares

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday