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Technology: Toronto stock market falls as Canadian dollar hits…


Energy stocks lead Toronto market higher as North American stocks bounce back


Energy stocks lead Toronto market higher as North American stocks bounce back
Energy stocks lead Toronto market higher as North American stocks bounce back

TORONTO — While U.S. markets set record highs , Canada ‘s main stock index ended the week lower as the loonie hit a nine – month high . CannTrust shares fell 17.3 per cent on Friday and have been cut almost in half since Monday. The lustre is coming off of the cannabis sector, said Patrick Blais

Last month, a California jury ruled in favor of a plaintiff who claimed her use of the company’s talc A month earlier in May, the company was ordered to pay out 0 million in punitive damages to Toronto stock market falls as Canadian dollar hits nine – month high . The Canadian Press.

Toronto stock market falls as Canadian dollar hits nine-month high© Provided by Canadian Press Enterprises Inc

TORONTO — While U.S. markets set record highs, Canada’s main stock index ended the week lower as the loonie hit a nine-month high.

The S&P/TSX composite index closed down 39.78 points to 16,488.12 after hitting an intraday high of 16,525.70.

Seven of the 11 major sectors decreased, led by a 4.5 per cent drop by cannabis-heavy health-care sector.

A fifth consecutive day of share losses by CannTrust Holdings Inc., following a halt of all sales and shipments of cannabis products amid a Health Canada investigation, spread to other cannabis producers, including Canopy Growth Corp., Cronos Group Inc. and Aurora Cannabis Inc.


Canada’s main stock index falls in broad market decline, loonie slips


Canada's main stock index falls in broad market decline, loonie slips
TORONTO — Canada’s main stock index moved lower, with the drag coming from a broad range of sectors. The S&P/TSX composite index was down 89.40 points at 16,337.07 after 90 minutes of trading, with the energy, metals and mining, financial and industrials sectors among the weakest. In New York, the Dow Jones industrial average was 60.16 points lower at 25,817.17. The S&P 500 index was down 6.06 points at 2,858.30, while the Nasdaq composite fell  24.03 points lower to 7,761.69. The Canadian dollar traded at 74.57 cents US, down compared with an average of 74.55 cents US on Tuesday. The July crude contract was down $1.30 at US$61.83 per barrel and the January natural gas contract fell 3.

TORONTO (Reuters) – The Canadian dollar weakened to an 11-day low against its U.S. counterpart on Friday as the greenback broadly climbed and data The value of Canadian retail sales fell 0.3 percent in January from December, the third consecutive decline, pulled down in large part by weak auto sales

TORONTO (Reuters) – The Canadian dollar dropped to a nearly three-week low against its U.S The central bank hiked last month for the third time since July. Money markets expect two further rate Canadian government bond prices were higher across the yield curve, with the two-year up 12.5

CannTrust shares fell 17.3 per cent on Friday and have been cut almost in half since Monday.

The lustre is coming off of the cannabis sector, said Patrick Blais, senior portfolio manager at Manulife Asset Management.

“A lot of investors believe that these names are overvalued,” he said in an interview. “Of course they’ll be volatile. They’re still growth stories and growth stories can move quite violently on the way up, on the way down.”

Shopify Inc. drove technologies lower, while utilities, consumer staples and financials also fell.

Energy was marginally lower as the August crude contract was up one cent at US$60.21 per barrel and the August natural gas contract was up 3.7 cents at US$2.45 per mmBTU.

Consumer discretionary, industrials, materials and real estate ended the day higher.


Toronto stock market has worst day of the year on trade angst and oil price drop


Toronto stock market has worst day of the year on trade angst and oil price drop
Toronto stock market has worst day of the year on trade angst and oil price drop

By Fergal Smith TORONTO (Reuters) – The Canadian dollar strengthened to a near nine – month high against its U.S. counterpart on Tuesday as rising oil prices improved the economic outlook a day before the Bank of Canada ‘s interest rate announcement.

If you own stocks , you’re partly happy, partly scared.“If you just took somebody from outer space who had read every economics book and showed them the data of unemployment and consumer confidence, they’d assume Toronto stock market falls as Canadian dollar hits nine – month high .

Shares of several miners climbed, including Yamana Gold Inc. and Barrick Gold Corp, as the price of gold rose. The August gold contract was up US$5.50 at US$1,412.20 an ounce and the September copper contract was up 0.7 of cent at US$2.69 a pound.

The Canadian dollar traded for an average of 76.70 cents US, the highest level since October and compared with an average of 76.51 cents US on Thursday.

The loonie has gained strength as the perception of the Canadian economy has improved and the Bank of Canada’s decision not to follow the U.S. Federal Reserve in lowering interest rates has supported the Canadian currency, said Blais.

Meanwhile, he said the U.S. economy is viewed to be deteriorating.

American markets set record highs Friday as the prospect of interest rate cuts solidified with the comments from the governor of the Federal Reserve Bank of Chicago that the central bank’s focus is to pre-empt deflation.


Energy and industrials lift Toronto stock market, loonie edges higher


Energy and industrials lift Toronto stock market, loonie edges higher
Energy and industrials lift Toronto stock market, loonie edges higher

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges . Toronto stock market falls as Canadian dollar hits nine – month high . The Canadian Press. Data from Desjardins breach likely sold to foreign criminals

Toronto stock market falls as Canadian dollar hits nine – month high . The Canadian Press. ‘Degrading and deplorable’: Ontario slammed over cannabis license lottery for First Nations.

“He was being actually quite specific so it seems as though they’re really saying to the market that ‘we are concerned about low inflation and that is the emphasis of our mandate and irrespective maybe of the other concerns,’ ” Blais added.

In New York, the Dow Jones industrial average was up 243.95 points at 27,332.03, a record close and slightly lower than the intraday peak of 27,333.79.

The S&P 500 index was up 13.86 points at 3,013.77, a tad lower than the high set earlier in the day, while the Nasdaq composite was up 48.10 points at 8,244.14, also a little below its record intraday high.

Companies in this story: (TSX:ABX, TXS:YRI, TSX:SHOP, TSX:TRST, TSX:WEED, TSX:CRON, TSX:ACB, TSX:GSPTSE, TSX:CADUSD=X)

Ross Marowits, The Canadian Press

Merger mania could return as gold hits all-time high in Canadian dollars.


If the price of gold hits an all-time in the Canadian dollar, does anyone notice? A little after midnight on Tuesday morning, intraday gold spot prices soared to $1,895.20 per ounce — higher than any previous closing price, according to Bloomberg data. Yet hours later, many Canadian gold companies, big and small, were trading down. “People don’t look at gold in Canadian dollar terms,” said Bruce McLeod, chief executive of Vancouver-based Sabina Gold & Silver Corp., which is struggling to raise funds to build a mine in western Nunavut. “They don’t look at what’s actually happening.



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