Arab Today, arab today canadian stocks decline as oil retreats ahead of energy meeting
Last Updated : GMT 07:00:49
Arab Today, arab today
Arab Today, arab today

Canadian stocks decline as oil retreats ahead of energy meeting

Arab Today, arab today

Arab Today, arab today Canadian stocks decline as oil retreats ahead of energy meeting

Toronto Stock Exchange
Toronto - XINHUA

Canada's main stock market in Toronto edged lower Friday as crude oil prices fell ahead of a weekend meeting that could yield an output freeze by major producers.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index shed 31.09 points, or 0.23 percent, to close at 13,637.20 points. Seven of the TSX index's eight main sub-sectors were lower.

All eyes are on Doha as producers, led by top exporters Saudi Arabia and Russia, will meet on Sunday to discuss freezing output around current levels in an effort to contain a glut exacerbated by production that exceeds demand by about 1.5 million barrels a day.

It would be the first joint action by major OPEC and non-OPEC producers in 15 years, although Iran has refused to participate, saying that it wants to rebuild its output to levels achieved before the imposition of the recently lifted economic sanctions.

Brent crude futures settled down 74 cents at 43.10 U.S. dollars while U.S. crude ended down 1.14 cents at 40.36 US dollars. Both contracts lost more than 3.5 percent earlier in the day. However, on a weekly basis, prices were higher for the second week in a row in the run up to the meeting.

The pullback in oil prices weighed on TSX energy shares with a 2.30 percent loss, as Suncor Energy Inc. went down 2.68 percent to 35.92 Canadian dollars (27.98 U.S. dollars), while Canadian Natural Resources gave away 2.24 percent to 36.68 Canadian dollars.

Bombardier advanced 5.88 percent to 1.62 Canadian dollars with the aircraft manufacturer said to be near an agreement to sell as many as 75 C-Series jetliners to Delta Air Lines Inc., according to sources. The deal would be the largest to date for the struggling program.

Mitel Networks Corp. plunged 9.62 percent, the most since February, after the communications company agreed to buy Polycom Inc. in a 1.96-billion Canadian dollar deal in cash and stock.

Valeant Pharmaceuticals International has reportedly brought in investment banks to review its options amid interest from buyout firms and other companies in a number of its businesses. Valeant shares shed 0.94 percent to 41.27 Canadian dollars.

The Canadian Imperial Bank of Commerce (CIBC) raised the price target on Husky Energy to 19.00 Canadian dollars from 16.00 Canadian dollars. Husky shares added 10 cents, or 0.60 percent, to 16.82 Canadian dollars.

On the economic front, Statistics Canada reported manufacturing sales for February slumped 3.3 percent to 51.2 billion Canadian dollars following three months of consecutive gains.

According to figures published by the Canadian Real Estate Association, national home sales posted their third monthly increase and broke all previous monthly records.

National home sales rose by 1.5 percent from February to March. Actual (not seasonally-adjusted) activity was up 12.2 percent compared to March 2015.

The Canadian dollar traded higher at 0.7790 U.S. dollar, compared with Thursday's closing rate of 0.7783 U.S. dollar.

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 stocks decline as oil retreats ahead of energy meeting Arab Today, arab today canadian stocks decline as oil retreats ahead of energy meeting

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4m tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4m tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:44 2017 Sunday ,26 February

Doubts grow over American stock market’s surge

GMT 06:26 2017 Sunday ,26 February

Copper recovers lost ground

GMT 15:53 2017 Saturday ,25 February

Bahrain Bourse daily trading report

GMT 14:28 2017 Saturday ,25 February

Gold hits 3.5-month high

GMT 03:11 2017 Saturday ,25 February

50 Tunisian exhibitors at Gulfood 2017, Dubai

GMT 02:19 2017 Saturday ,25 February

SIEL expo, March 1-4

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
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