VANCOUVER, BC (July 1, 2011) Dominion Lending Centres Clearlease Reports Bay Street stocks may struggle for direction Friday morning amid mixed cues from the commodities and global equity markets. While commodities were steady after yesterday’s steep fall, global equities recovered after European leaders showed support for Greece, easing concern that a default may hurt global growth.
Meanwhile, Moody’s Investors Service placed the long-term debt and deposit ratings of 16 Italian banks and two Italian government-related financial institutions on review for possible downgrade.
U.S. stock futures were pointing to a flat open.
On Thursday, the S&P/TSX Composite Index surrendered 80.98 points or 0.62 percent to 12,979.58.
The price of crude oil was steady after falling sharply in the previous session. Yesterday, oil plummeted nearly 5 percent after the International Energy Agency announced it would release crude oil from its strategic reserves. for only the third time in its history. Crude for August edged down $0.04 to $90.98 a barrel.
The price of gold was little changed amid a mixed U.S. dollar. Gold for August eased $1.70 to $1,518.80 an ounce.
In corporate news from Canada, Bombardier Inc. (BBD_B.TO) said its aerospace division bagged $628 million orders for 10 CS100 jetliners from an unnamed European customer.
Base-metals company Breakwater Resources (BWR.TO) announced that Nyrstar NV, through its direct wholly-owned subsidiary, Nyrstar Resources Canada Ltd. , has formally commenced the previously announced offer for Breakwater.
Mineral resources company Western Copper (WRN.TO) said it would undertake a spin-out transaction to reorganize the business and capital structure of the company into three separate public companies to allow it to focus on the development of its flagship Casino copper/gold/silver/molybdenum project.
Junior oil and natural gas exploration company Ironhorse Oil & Gas (IOG.V) reported a lower first quarter funds from operations of C$803,000 or C$0.03 per share compared to C$1.35 million or C$0.06 per share in the year ago quarter.
In economic news from the U.S., the Commerce Department revised up its first quarter 2011 GDP estimates to 1.9 percent. Most economists had expected the previously estimated 1.8 percent growth for the first quarter to either hold steady or be revised slightly upward.
Simultaneously, the Commerce Department said durable goods orders rose by $3.6 billion, or 1.9 percent, in May, marking a turnaround from April’s 2.7 percent decline. The April figures initially showed an even steeper, 3.6 percent decline. Economists had been expecting a smaller rebound in orders of about 1.5 percent.
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Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon.
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Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
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