Money Toronto stock index closes up in broad advance

03:15  10 august  2018
03:15  10 august  2018 Source:   msn.com

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Canada's main stock index closed up in a broad -based advance led by mining stocks while the loonie ended up moderately as economic growth numbers came in higher than expected. Mining stocks were up as metal prices rose following a report that China and the United States could

TORONTO – Canada’s main stock index closed up in a broad -based advance led by mining stocks while the loonie ended up moderately as economic growth numbers came in higher than expected. Mining stocks were up as metal prices rose following a report that China and the United States could

TORONTO - Canada's main stock index closed higher in a broad advance Thursday as tensions with Saudi Arabia appeared to ease, while U.S. markets were mixed.

The Toronto Stock Exchange's S&P/TSX composite index closed up 101.90 points at 16,416.98 as information technology, financials, and materials gained.

The gains came after Saudi Arabia's energy minister assured Canada that the kingdom's diplomatic dispute with Ottawa won't affect oil sales, while Prime Minister Justin Trudeau on Wednesday acknowledged some human rights progress in the country while remaining firm in Canada's criticism.

"It looks like tensions are easing somewhat, based on what Trudeau said and then the fact that Saudi Arabia said it would continue to supply Canada with oil," said Anish Chopra, managing director with Portfolio Management Corp. in Toronto.

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  China Dethroned by Japan as World's Second-Biggest Stock Market China just lost its ranking as the world’s number two stock market. After a Thursday slump, Chinese equities were worth $6.09 trillion, according to data compiled by Bloomberg. That compares with $6.17 trillion in Japan. The U.S. has the world’s largest stock market at just over $31 trillion.China’s stock market overtook Japan’s in late 2014, then soared to an all-time high of more than $10 trillion in June 2015. Chinese equities and the nation’s currency have taken a beating this year amid a trade spat with the U.S., a government-led campaign to cut debt and a slowing economy.

TORONTO — Canada's main stock index closed up in a broad -based advance led by mining stocks while the loonie ended up moderately as economic growth numbers came in higher than expected. Mining stocks were up as metal prices rose following a report that China and the United States could

TORONTO — Canada's main stock index closed up in a broad -based advance led by mining stocks while the loonie ended up moderately as economic growth numbers came in higher than expected.

"I would say it's neutral to modestly positive, because the markets have certainly bounced a bit."

Tensions between the countries flared after Global Affairs Canada last week criticized the arrest of an activist blogger in the country. The kingdom responded by suspending future trade deals with Canada and reportedly ordered the selloff of Canadian assets among other measures.

The S&P/TSX capped information technology index had the highest gains at 1.6 per cent. The health-care index was up 1.49 per cent and the materials index climbed just under a per cent.

The consumer discretionary index had the sharpest losses at 0.16 per cent as Canadian Tire Corp. dropped almost eight per cent on missed earnings, while auto parts manufacturers Magna International and Linamar Corp. slipped a third of a per cent on Thursday following larger losses the day prior on fears of future tariff impacts.

Toronto area home sales, average prices, climb higher in contrast to Vancouver drop

  Toronto area home sales, average prices, climb higher in contrast to Vancouver drop Residential home sales in the Greater Toronto Area rose 18.6 per cent in July compared with the same month last year, the Toronto Real Estate Board said Friday. The average selling price of the 6,961 homes that changed hands during the month rose 4.8 per cent on an annual basis to $782,129. July's climb follows a 2.4 per cent increase in June sales compared with a year earlier after a steep sales drop of 22.2 per cent in May. "The positive results over the last two months are encouraging," said TREB president Garry Bhaura.

Canada’s main stock index was up moderately this morning in a broad -based advance led by mining stocks . The Toronto Stock Exchange’s S&P/TSX composite index was up 48.70 points at 16,394.17 after 90 minutes of trading.

#ClosingBell : Toronto stock index closes up in broad advance , loonie also climbs https://yhoo.it/2LWWV40 pic.twitter.com/3VgjU8LYjh.

"The trade issue with the United States and NAFTA renegotiation plays a large part in that," said Chopra.

The TSX composite index hit an intraday high of 16.430.85, while volume on the index clocked in at 178.86 million shares.

In New York, the Dow Jones industrial average closed down 74.52 points at 25,509.23. The S&P 500 index ended down 4.12 points 2,853.58 and the Nasdaq composite index ended up 3.46 points at 7,891.78.

The Canadian dollar averaged 76.69 cents US, up 0.07 of a US cent.

The September crude contract closed down 13 cents at US$66.81 per barrel and the September natural gas contract ended up a penny at US$2.96 per mmBTU.

The December gold contract ended down $1.10 at US$1,219.90 an ounce and the September copper contract closed up two cents at US$2.77 a pound.

Insurers Manulife Financial Corp. and Sun Life Financial Inc. climbed as both beat analyst expectations as they saw growth in Asia. Manulife had adjusted earnings of 70 cents per share, compared to the 65 cents expected by analysts, while Sun Life had earnings of $1.20 per share compared to the $1.15 expected by analysts according to Thomson Reuters Eikon.

Toronto stocks higher, loonie moves up .
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